Canopy Growth Corporation · TSX:WEED
Canopy Growth — Investor Presentation (August 2023)
22 slides from Canopy Growth's investor presentation, August 2023
Slide 1: Investor Presentation August 2023
INVESTOR PRESENTATION AUGUST 2023
Slide 2: Disclaimers and Cautionary Statements
DISCLAIMERS AND CAUTIONARY STATEMENTS Forward-Looking Information This presentation (including any information which has been or may be supplied in writing or orally in connection herewith or in connection with any further inquiries, this “Presentation”) contains “forward-looking statements” within
Slide 3: Disclaimers and Cautionary Statements
DISCLAIMERS AND CAUTIONARY STATEMENTS By their nature, forward-looking statements are subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate
Slide 4: Disclaimers and Cautionary Statements
DISCLAIMERS AND CAUTIONARY STATEMENTS the timing and manner of the legalization of cannabis in the United States; business strategies, growth opportunities and expected investment; counterparty risks and liquidity risks that may impact our ability to obtain loans and other credit facilities on favor
Slide 5: Non-GAAP Measures
NON-GAAP MEASURES Adjusted EBITDA is a non-GAAP measure used by management that is not defined by U.S. GAAP and may not be comparable to similar measures presented by other companies. Adjusted EBITDA is calculated as the reported net income (loss), adjusted to exclude income tax recovery (expense);
Slide 6: The Right Strategy for Sustainable Cannabis Market Leadership
THE RIGHT STRATEGY FOR SUSTAINABLE CANNABIS MARKET LEADERSHIP • • • • •
Slide 7: The Right Strategy for Sustainable Cannabis Market Leadership
THE RIGHT STRATEGY FOR SUSTAINABLE CANNABIS MARKET LEADERSHIP • • • 3 1.Requires regulatory approval of proxy statement and certain shareholder approvals to directly own U.S. assets and exercise options to acquire U.S. assets. 2.Canopy currently holds options to acquire 70% of the total shares of Ac
Slide 8: Massive North American Cannabis Market Opportunity
Massive North American OVER Cannabis Market Opportunity $65B BY 2027 CANADIAN CANNABIS MARKET SIZE U.S. CANNABIS MARKET SIZE (2023 TO 2027), $CAD BB5 (2023 TO 2027), $CAD BB6 7.0 60.0 6.0 50.0 5.0 40.0 4.0 30.0 3.0 2.0 20.0 1.0 10.0 0.0 0.0 2023 2024 2025 2026 2027 2023 2024 2025 2026 2027 6. Source
Slide 9: Actions Have Put Canopy on A Strong Path Forward
Actions Have Put Canopy on A Strong Path Forward • • • • •
Slide 10: Fast start in Q1 FY2024, early signals that our strategy is working
We had a fast start In Q1 FY2024, early signals that our strategy is working: • • • • • • • 8 Unless otherwise indicated, market share data disclosed in this presentation is calculated using the Company’s internal proprietary market share tool that utilizes point of sales data supplied by third-part
Slide 11: FY2024 Business Outlook and Long-Term Outlook
FY2024 BUSINESS OUTLOOK LONG-TERM OUTLOOK • • • • • • • • • • • • •
Slide 12: Q1 FY2024 Financial Results
Q1 FY2024 FINANCIAL RESULTS
Slide 13: Q1 FY2024 Key Financial Highlights
Q1 FY2024 KEY FINANCIAL HIGHLIGHTS
Slide 14: Revenue Performance by Channel
REVENUE PERFORMANCE BY CHANNEL 1 For Q1 FY2024, amount is net of excise taxes of $11.0 million and other revenue adjustments of $0.9 million (Q1 FY2023 - $11.6 million and $0.6 million, respectively). 2 For Q1 FY2024, amount is net of excise taxes of $1.4 million (Q1 FY2023 - $1.2 million). 3 For Q1
Slide 15: Gross Margin Performance
te GROSS MARGIN PERFORMANCE Quarterly Gross Margin Performance Drivers of Q1 FY2024 Gross Margin Performance (+) Improvement in Canada cannabis segment, primarily attributable to the realized Reported Gross Margins = Adjusted Gross Margins benefit of cost savings program and strategic changes to the
Slide 16: Adjusted EBITDA – Change from Q1 FY2023 to Q1 FY2024
ADJUSTED EBITDA – CHANGE FROM Q1 FY2023 to Q1 FY2024 • • •
Slide 17: Appendix
Appendix
Slide 18: Adjusted Gross Margin (Non-GAAP) Reconciliation
ADJUSTED GROSS MARGIN 1 (NON-GAAP) RECONCILIATION
Slide 19: Adjusted EBITDA (Non-GAAP) Reconciliation
ADJUSTED EBITDA 1 (NON-GAAP) RECONCILIATION
Slide 20: Free Cash Flow (Non-GAAP) Reconciliation
FREE CASH FLOW 1 (NON-GAAP) RECONCILIATION
Slide 21: Thank you
Thank you
Slide 22: Slide 22