07:46 AM EST, 02/07/2025 (MT Newswires) -- Canopy Growth ( CGC ) traded 19% lower in U.S pre-market after reporting a narrower third-quarter loss.

The recreational and medical cannabis company said its net loss fell to $122 million, or $1.11 per share, from $217 million, or $2.62 per share, in the prior year period. The reduced loss reflected lower operating and SG&A expenses.

Net revenue fell 5%, to $74.8 million. Excluding net revenue from divested businesses, net revenue increased 8%. Canada adult-use cannabis revenue fell 10% to $21.2 million, while medical cannabis sales in the country rose 16% to $19.6 million.

The company's shares were last seen down US$0.53, to US$2.25, in New York trading.