Revenue for the company’s third fiscal quarter was up 282 per cent year-over-year. About a third of sales currently come from cannabis oils and softgel capsules. The company is also investing heavily in newer products, including vape pens and liquids.(Financial Post, CNN)
Talking point: Two companies control half of Canada’s recreational pot market: Canopy has 30 per cent and rival Aurora has 20 per cent. That concentration is the end result of the acquisition spree the two companies have been on over the past 12 months. Canopy has been particularly focused on acquisitions that will allow it to sell non-traditional cannabis products. In October 2018, for example, the company purchased Colorado-based hemp researcher Ebbu for $25 million. As co-CEO Bruce Linton put it on Friday, the company hopes to “dominate” the industry by focusing on science, intellectual property claims and products.