MJ Biz reports….

Canadian cannabis producer Canopy Growth Corp. reported a net loss of more than 128 million Canadian dollars ($95.7 million) in the first quarter of its fiscal year, with total revenue improving slightly on a quarterly basis as the company continues its corporate transformation plan.

Net revenue for the quarter ended June 30 was CA$110.4 million, an increase of 2.3% from the previous quarter.

That includes net Canadian recreational marijuana revenue of CA$44.2 million – including CA$7.2 million in excise taxes – a decline of more than 11% from the CA$49.8 million worth of recreational revenue reported last quarter.

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Canopy reports CA$128 million loss as recreational cannabis revenue falls