SMITHS FALLS, ONT.—Canada’s largest publicly traded marijuana company says it ended 2016 with 29,000 registered patients — more than three times the number it had at the end of 2015 — helping the company deliver profitable results in its latest quarter.
For the three months ended Dec. 31, which was the fiscal third quarter for Canopy Growth Corp — revenue was $9.8 million, up 180 per cent from $3.5 million a year earlier.
Net income for the quarter was $3.0 million or two cents per diluted share, which compared with a year-earlier loss of $3.3 million or four cents per share in the third quarter of fiscal 2016.
For the first nine months of Canopy’s fiscal 2017, net income was $4.5 million or four cents per share — up from $1.6 million or two cents per share a year earlier.
Canopy — which has been a pioneer in Canada’s federally regulated medical marijuana industry — says its revenue over the nine months ended Dec. 31 more than tripled to $25.2 million from $7.7 million.
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