Canopy Growth Corporation reported its fiscal fourth quarter revenue today: $22.8 million. Their previous quarter was $21.7 million. Those are some lackluster numbers. The good news will be in the future:
Total licensed footprint exceeding 2.4 million sq. ft.; 200,000 clones prepared and shipped from Ontario to jump start cultivation in million sq. ft. greenhouses in British Columbia.
Their inventory was approx. 23,000 kg at the end of March 31, 2018. Those 200,000 plants should yield roughly 20,000 kg of marijuana. Add a few more thousand from their current Smiths Falls and Niagara facilities and on October 17, Canopy should have 50,000 kg worth of product for sale. At a reasonable $4 per gram wholesale price, that's $200 million of revenue in one quarter.
Let's see how close Canopy gets.
In the conference call earlier today, one question was about the total kilogram production of Canopy in the near-future. Bruce Linton, the CEO, refused to provide an explicit number. This is in stark contrast to Aurora Cannabis who have repeated their astronomical 570,000 kg of (future) annual production in the media.
For Canopy, when they get to their full six million sq. ft. of capacity, the minimum annual production should be 400,000 kg. The maximum? 600,000 kg.