Thank good you morning everyone. and Carol
of our would a on relates objectives as our into begin as like our summary a turn and in to heading the our as to broad our with how future. objectives. So will I financial translates speak into hit to execution brief performance then Canopy, also call the discuss I that of execution those expectations it Company, and usual
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the product focused means dominance smooth property, ensuring building a forms, production formula been are we efficient expansion foundation for global us an of brands, It having ensure this what As emerging intellectual doing? on new Canopy first to building developing international To into current and channels. and products. reach opportunity. So, and credibility for means capability a markets level objective, in and has future scaled and laying
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objectives and our operations our headquarters The goal Canadian just impacts which both speed achieve not global resources ambition first the but be at Canadian we our achieved. will important, second are serve equally But both our of ambition. goal.
will each With use my time that some said, I to the detail. in these over remainder of of go
Firstly, Developing Property. Intellectual
filed applications patent Canopy its various QX, XX R&D During across
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Moving on now.
place have focus our CBD equaled with Canada starting to for Reach, THC speak closest United that opportunity, time in now had our some markets time towards focus have future leadership, and next in U.S., in opportunity. of and and the me our we let XX senior on this staff has the the over the by is now our United International in States. including Thirdly, The most resources more Canadian more the headquarters and States. We dedicated team
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is Intellectual moving Acreage Property. arrangement with leverage forward the now With plans closed, to our
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cannabis Spectrum anticipates products, in a to therapeutics respect products Similarly, with Acreage branded national medical XXXX. undertaking rollout of
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also come will brands Canopy, produce the scale the With at these to knowhow’s products in
squarely and focused into the of a range And resources January while this production and has securing is Acreage by active been on products CBD necessary Canopy very of quality CBD. to things, our brands year. fiscal bring does of the this team year, end high- market its Since developing
numerous. in accomplishments these efforts Our are
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the hemp procured addition, and our product for of our has biomass already launch. CBD capabilities for production team processing In
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made we in CBD To a up stand have team. strong significant States, business pre-revenue the new investments building in a United
Our team processing, in finance, course logistics, of IT back includes office and Resources. management, support sales, cultivation and marketing Human manufacturing,
Illinois Over established Colorado offices York. will and in and soon we the California offices New establishing past quarters and two have be in
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I in select international our business. speak to accomplishments like Next, would about briefly
year. Europe, will the first fiscal this purchased you First, quarter in late of we in CX recall that
by Spectrum integration the calendar Our full sales and with the is CX towards Therapeutics team end working marketing year. of
sales cannabinoid fiscal provider fully the end with team existing the sales this in Therapeutics Germany year cannabinoid professionals medical reach industry. company medicines XX of representing highest Spectrum CX the business, by integrated of be Our any in the medical the largest healthcare organization into will experienced of
including allow that pharmacy in made fulfillment end of the into significant month markets into for product pre-pack Republic rapid and flow and has channel. United increases flow This into capacity team increased Czech Our of this Poland, includes European infrastructure product the significant will by the improvements ensure Kingdom. Germany, to the
calendar side state-of-the-art products. approval XXX,XXX licensed On Europe, of Denmark greenhouse supply the regulatory is Odense, final to harvested this the continues square facility and our pending year foot on-track supply provide for be European to in
currently has Collection completing GMP scale harvests. is This as facility, with pilot fall. Commercial certified Practices early beginning cultivation this well and begun, initial both designations, harvests in as Agricultural Good
sales. have shifted of from operating building have an products in and America, Latin Europe equivalents kilograms Canada teams all commercial we almost Xst. kilogram softgel flower, Our dried to XXXX emphasis oil and Asia-Pacific, Africa since April or from end on To that market exported
in reflected of between teams the sales, at and and To just sales remain our these continents reiterate, numbers. investments point these all financial commercial and inflection of ramp-up the costs up ramp operations across pre-revenue with
I Lastly, are outset, will a capacity, our number scaled and Fourth At are things of into first we noting. in naturally production of proud an this overview of fiscal quarter leads performance which the speak to worth are the that of year. there
strong the cannabis the flower, of quantity the in machines Including sales flower our the pre-rolled in value the significant over softgel growth million Canadian that the with recreational over house, proving designed sale we and of of high the THC quarter, oil automated sales growth of of harvested that X.X a in strains. dry in during in XX% increase in joints, the medical and market, market,
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the market, are. will in that mention progress market Well succeed are Canada worth of the items our structure in events play are ensure as sure I’m increasingly also you relevant Canada growth these watching fiscal Canopy to overall ambitious performance thriving continues operations remainder sales of momentarily, macro to These variables we pausing big Canadian an I today and closely it to which have at and we in discuss through on some order and in built and a accelerates. the to year. our picture
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supply day. of now pre-rolled joints, XX hours per sales week, operating five increase and per in are To turn days we
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also X,XXX fall. hemp of our an extraction planned this additional further We of increase with hemp harvest acres will
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programs for now our we SKUs in our high-demand products on focused training future market. the demand retailers Canada includes current across with driving squarely This bring ensuring are market. value-add We to brands, Canadian and recreational and CBD extensive and
existing to includes the order communicating supply number current market demand provinces now through also limited our exceed confidence demand. locations platform, licensed the in to can to It of expand retail further being that retail providing create
consumer our of generation would to to the discuss people the cannabis facilities produce products. like of I and Next, next readiness new, value-add
milestones. of last During plant. to milestones commissioning conference call, achieved And we achieve were we a path that we on expecting number our identified to those the bottling our new have
The operations full line facility was on in and skids, with tanks, have turn license beverage facility our Factory application XXth. for in began the completing destined July, on planned. equipment October. piping systems Testing by arriving submitted, late June July over for large XX,XXX as Bottling installation Acceptance time, and gallon to begun manufacturing Processing expected
to September, October. licensed to filling over and undergoing our with rooms already the also by related and month operations Canada. are turned of The delivery beginning August later to this packaging during to and Automated on-track systems vape and filling be site have by necessary are vape testing Health packaging and products been installation
we place, we and remain on quarter vape begin lastly, third related and in by site And equipment having associated reminder a team high products With XXXX. that chocolate already a equipment Health will to quality are qualified, with producing beverages, of capable and confident rooms qualification automated and operations licensed critical fiscal manufacturing in on underway already the site, been systems experienced well that Canada. the edible
call, changed. as summary, has this its strategy our clear in not I hope So, from
building will We continue
United beyond. States, the Canada, Europe in and capacity
when to acquire has Acreage waivered. platform commitment build-out CBD occurs in Our triggering event not the United our a States, to
the incredible market research, to and of commitment has Our not the changed. potential medical
create market scale, bringing and value we even organizational Building have shareholder meaningful the an long-term, complex medium will consumer global product how is a value-add short-term high and This investments investing products in in our research impact to and most development, and therapies though increasingly priorities, performance. over medical competitive sector. these the and remain on
future, judged are our aware view achieving and Based markets coming financial will, increasingly business positive the our P&L. end that metrics we the consolidated Canopy’s current net of by expect on the well in revenue earnings in corporate be that our retail However, our including by offerings, of rate a the achieve of we our including growth expansion run distribution, $X product the will of billion
fourth quarter of fiscal XXXX.
further, on Further, a quarterly within Canopy’s Still fiscal to Canopy EBITDA committed is EBITDA fiscal within positive operations a adjusted forecast consolidated delivering are basis to XXXX. business adjusted on Canadian deliver XXXX. positive quarterly basis its
consolidated the of transition. to the Brands the like operations on before discussion that all, are provide to will in income is I a net our of deliver Company’s Finally, leadership medium-term, in performance, last we five with three expectation would more And that an QX Constellation aligned our within detailed Mike with begin positive current continues years. to update
all from we Bruce you President. Rade know, and July to change as my the saw Linton As CO-CEO Company, announced that move role CEO, become leave a myself leadership on Kovacevic Xrd, and President sole
made has, Additionally, this that of CEO a vision and decision can that bringing leave that have ambition announced the level. the while we to to incredible fresh the is to Canopy found. embody experience I next drive and Company energy once One Canopy suitable all
recruiter well exceptional under I can Heidrick is confirm way what retained search the already identified. & that several Struggles, with this candidates Company has and now
expect several months. transition the complete the next We to process within
long fiscal results. Mike, review call ahead. concludes go over pass to quarter financial ad our remarks please the Mike This will XXXX to my I first
