08:15 AM EDT, 05/30/2024 (MT Newswires) -- Canopy Growth ( CGC ) , a global cannabis company, on Thursday reported a narrower loss for the fourth quarter as net revenue rose 7%.

The company narrowed its fiscal fourth-quarter net loss to $92.3 million, or $1.03 per share, from a year-ago loss of $640.1 million, or $12.83 per share.

Analysts surveyed by Capital IQ expected a loss of $0.43.

Net revenue for the quarter ended March 31 was $72.8 million, up from $68.2 million a year earlier. Analysts polled by Capital IQ expected $72.5 million.

The adjusted Ebitda loss for the quarter dropped to $15.1 million from a loss of $40.4 million a year earlier.

The company - which has no material debt obligation due until March 2026 - reported cash, cash equivalents, and short-term investments of $203 million at March 31.