Canopy Expects To Generate $1B In Current Fiscal Year

There is still no clear path to profitability yet

Canopy Growth’s revenue will be more than $1 billion this fiscal year, according to the company’s co-CEO Bruce Linton. Speaking on the sidelines of the GMP Securities cannabis conference in Toronto, Linton added that he expects Canopy’s revenue will grow steadily this year, and then spike in the last quarter as more licensed retail outlets. “The rate of growth will accelerate in the fourth calendar quarter just because of more stores and better products — a reason to go to the store,” he said. Meanwhile, analysts expect Canopy’s revenue to reach $840.5 million for fiscal 2020, according to the average of estimates compiled by Bloomberg. 

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