Canopy Growth (NASDAQ: CGC) is no longer the market darling it once was.
Shares of the cannabis maker remain down more than 95% from their all-time highs, the company continues to post net losses, and Canada’s cannabis industry remains plagued by oversupply, pricing pressure, and intense competition
That said, if you dig into the numbers, there are signs that the business may finally be stabilizing. This doesn’t mean Canopy Growth has completed its turnaround. And no, profitability isn’t guaranteed.
But several key metrics suggest management’s restructuring efforts may finally be gaining traction. Adjusted EBITDA losses have shrunk dramatically One of the biggest challenges facing Canopy over the past several years has been its inability to generate sustainable operating profits. The company has spent years closing cultivation facilities, reducing headcount, exiting non-core businesses, and cutting operating expenses.