Canopy Growth Corporation (NASDAQ:CGC) Q2 2024 Earnings Call Transcript

Michael Lavery: Could you — you touched on TerrAscend’s performance on the call, but you — as you also pointed out in the prepared remarks, your stake there would be like a 17%. Can you just give a sense of the longer-term vision for that? And by keeping it on investors’ radar, is the expectation that you would want to consolidate that someday? And if so, how would you anticipate going about that?

David Klein: Yes. Michael, so, we continue to be favorable on the U.S. market. And so, I would say TerrAscend is just one of the assets that we hold in that market. We like the work that’s going on at TerrAscend, especially in markets like New Jersey and Maryland. And we continue to have our other companies interact, a lot with TerrAscend. So, for example, TerrAscend distributes Wana in Maryland, and it is working out quite well for both companies. And so, we look at TerrAscend as just one of the pieces to the puzzle for the U.S., along with Wana and Jetty and Acreage. Acreage has interesting positioning, I think, in markets like New York and Ohio and Illinois. And so, we think those are big opportunity markets, as we go forward. So, we just continue to watch the U.S. market very closely. And we remain committed and impressed actually with our U.S. businesses.

Operator: I will now turn the call over to Mr. Klein for final remarks.

David Klein: Great. Thank you. As you head into the holidays, I want to encourage everyone to add the latest products from Canopy to your gift list, including things like Wana Quick edibles, Tweed flower, or Storz & Bickel vaporizers. I suspect anyone would be very excited to receive those as Christmas gifts. As a reminder, Investor Relations will be available to answer additional questions. Have a good evening, and thank you for attending today’s conference call.

Operator: This concludes Canopy Growth second quarter fiscal 2024 financial results conference call. A replay of this conference call will be available until February 7, 2024 and can be accessed following the instructions provided in the Company’s press release issued earlier today. Thank you for attending today’s call. Goodbye.