Canopy's Glaring Weakness In its recent fiscal Q4 financial results, Canopy reported a CA$1.3 billion net loss for the quarter. That's a staggering amount for a company whose market cap is about CA$8.7 billion. Nor is this the first time that Canopy has reported a billion-dollar-plus loss. Back in August 2019, the company shed CA$1.2 billion during its fiscal first quarter. During its recent fiscal fourth quarter, Canopy reported a massive CA$2 billion in goodwill on its balance sheet. That's more than Canopy has in total cash reserves at the moment. While it's uncertain exactly when (or even if) the company will end up having to make a goodwill adjustment in the future, that CA$2 billion is a potential ticking time bomb that could result in further losses down the road.