Canopy Growth CEO says company primed for profitability despite losses

Canopy Growth Corp.’s CEO urged investors to stay on board Friday after the cannabis company reported a $324.8 million net loss in its second quarter on Thursday.

The loss is compared with a $305.8 million net loss in the same quarter last year, and includes a $148.2 million dollar loss from continuing operations, down from a $196.5 million second-quarter loss last year.

As shares were down almost three per cent in midday trading, CEO David Klein pointed to changes the cannabis company has made to set itself up for future success.

“We've made a significant transformation in the company, significantly narrowing our EBITDA loss,” Klein told BNN Bloomberg in a television interview on Friday morning.