Ahead of Cannabis 2.0 Rollout Canopy Growth (NYSE: CGC, TSX: WEED) had reported $76.6 million in net revenues as compared to $90.5 million in Q1 on November 14, 2019 (See Here). Disappointing results to say the least, the fact is the margins have been decreasing significantly as the supply vs demand is not being controlled well by the government. Regardless of decrease in revenues and margins what most retail investors failed to mention is the inventory recorded in the most recent financial statement. Canopy is sitting on $462 million worth of cannabis products. This is believed to be the most product inventory in all of cannabis licensed producers. Canopy Growth is in the best position for a smooth rollout of cannabis 2.0 with $462 million worth of inventory and will be looking to take on Aurora Cannabis for the number one spot.
Canopy Growth (NYSE: CGC, TSX: WEED) revealed its Cannabis 2.0 portfolio of products last week, set to come to market as part of the second wave of Canadian cannabis commercialization. With December 16, 2019, being the first date new product formats can be sold into distribution channels. However the Company expects that in most markets new products will not be seen on shelves until early in January 2020.
According to Canopy Growth Corp. , the company will start with beverages, edibles and vapes and plans to roll out 32 specific items by end of December (Most recent financials), and add 20 more over the following 12 months.
The Company expects that in most markets new products will not be seen on shelves until early in January 2020. Leveraging learnings from Cannabis 1.0, the Company will stagger its launch of various products and formats to ensure a smooth roll-out. As such, availability will vary by province based on their individual ordering and distribution activities.
About Canopy Growth Corporation
Canopy Growth (TSX:WEED,NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth’s subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. Canopy Growth has operations in over a dozen countries across five continents.
Canopy Growth’s medical division, Spectrum Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public’s understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development. Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol under the brand Bionorica Ethics.
Canopy Growth operates retail stores across Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large and loyal following by focusing on quality products and meaningful customer relationships.
From our historic public listing on the Toronto Stock Exchange and New York Stock Exchange to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates eleven licensed cannabis production sites with over 10.5 million square feet of production capacity, including over one million square feet of GMP certified production space. For more information visit www.canopygrowth.com
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