Canopy Growth announced its quarterly earnings results that missed analysts’ expectations.
The cannabis company reported ($1.46) loss per share for the quarter, missing the consensus estimate of ($0.24), Briefing.com reports. Revenue of $126.10 million, down 24.7% from the year-ago quarter, also was below analyst estimates of $130.34 million.
Cash was at $1.4 billion as of the quarter’s end, versus $1.5 billion in long term debt. The company had a net cash position of $4 billion in 2018 but has since burned through a lot of it.