Canopy Growth reports fiscal first quarter revenue growth, improved margins

Canopy Growth reports fiscal first quarter revenue growth, improved margins

Fri, August 7, 2026 at 6:11 PM GMT+3 2 min read

• CGC +5.64%
• CGC +5.64%

Canopy Growth Corporation (TSX:WEED, NYSE:CGC) reported continued revenue growth across its businesses in the first quarter of fiscal 2027, while the cannabis company narrowed its adjusted EBITDA loss from a year earlier, sending its shares 5% higher on Friday morning.

Net revenue for the three months ended June 30, 2026, increased 13% year-over-year to C$81.2 million, exceeding the analyst consensus estimate of C$58.89 million.

Adjusted loss per share was C$0.03, compared with the consensus estimate of a C$0.06 loss.

The Smiths Falls, Ontario-based company said revenue increased across all of its businesses during the quarter.

Cannabis net revenue rose 14% year-over-year to C$65.1 million. Canada medical cannabis revenue increased 22% to C$25.8 million, driven by growth in insured customers and the acquisition of MTL Cannabis, partially offset by a reduction in the Veterans Affairs Canada reimbursement rate for medical cannabis.

Canada adult-use cannabis revenue increased 10% to C$29.7 million, primarily reflecting higher flower sales following the MTL Cannabis acquisition, partially offset by declines in opportunistic bulk sales.

International cannabis revenue rose 10% to C$9.6 million, with Canopy Growth pointing to strength in Europe, particularly Poland.

Revenue from Storz & Bickel increased 6% to C$16.1 million, which Canopy Growth attributed to prior-year product portfolio expansion and increased sales across non-core markets.

Adjusted gross margin improved to 31% from 25% a year earlier, while consolidated gross margin increased to 27% from 25%.

Net loss was 68% lower year-over-year, while adjusted EBITDA loss narrowed 59% to C$3.2 million. Canopy Growth attributed the improvement primarily to revenue growth across both segments and continued cost savings, partially offset by the reduction in the Veterans Affairs Canada reimbursement rate.

"The renewed focus and strong momentum we established over the past year have continued into fiscal 2027," Canopy Growth CEO Luc Mongeau said.

"In the first quarter, we achieved net revenue growth in every business through solid execution across the organization. We have clear strategies to deliver further growth in each of our end markets."