(Reuters) – Pot producer Canopy Growth on Wednesday said it continues to see “substantial doubt” in its ability to continue as a going concern, even as it reported a smaller first-quarter adjusted core loss aided by cost cuts.
The company has taken several initiatives to turn profitable, including exits from some international markets, store closures and divestiture of its retail business across Canada.
Smiths Fall, Ontario-based Canopy Growth had first raised the doubts in June.
The company’s adjusted core loss narrowed to C$57.8 million for the three months ended June 30, compared with a loss of C$79 million a year earlier.
(Reporting by Sourasis Bose in Bengaluru; Editing by Shinjini Ganguli)
