The earnings call reflected a mixed sentiment with strong revenue growth in the cannabis segment, particularly in Canada and Germany, and significant cost reduction achievements. However, challenges such as declining margins, a decrease in Storz & Bickel revenue, and market-specific issues in Poland and Australia were notable concerns.

Company Guidance

During the call, Canopy Growth provided detailed guidance on several key metrics for the first quarter of fiscal 2026. Notably, the company reported a 24% year-over-year increase in cannabis net revenue, driven by a 13% growth in Canada medical net revenue and a 43% rise in Canada adult-use net revenue. Internationally, net revenues grew by 4%, with Germany achieving triple-digit growth. The Storz & Bickel segment faced a 25% decline in revenue year-over-year, attributed to weaker consumer demand and lapping strong sales from the previous year. The company highlighted a successful cost reduction initiative that has already delivered $17 million in annualized savings against a $20 million target. Despite these achievements, the adjusted EBITDA loss was $8 million, primarily due to lower gross margins which the company aims to improve through several strategic actions. The balance sheet showed $144 million in cash and short-term investments, with a debt balance of $295 million. Looking ahead, Canopy Growth aims to achieve significant improvement in free cash flow and gross margins in the second half of fiscal 2026.

Cannabis Net Revenue Growth

Cannabis net revenue grew 24% year-over-year, with Canada medical net revenue increasing 13% and Canada adult-use net revenue rising 43%.

International Market Growth

International net revenues returned to growth with a 4% increase, highlighted by triple-digit growth in Germany.

Cost Reduction Achievements

Achieved $17 million in annualized savings against a $20 million target, reaching 85% of the goal ahead of plan.

Canada Adult-Use Revenue Surge

Revenue in the Canada adult-use segment increased 43% year-over-year, driven by strategic product alignment and expanded distribution.

Positive Cash Flow Developments

Significant improvement in free cash flow, with cash used from operating activities down to $10 million from $52 million the previous year.

Canopy Growth (TSE:WEED) Earnings, Revenues Date & History

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TSE:WEED Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 07, 2025	2026 (Q2)	-0.16 / -	-1.48	―	―	―
Aug 08, 2025	2026 (Q1)	-0.23 / -0.22	-1.6	86.25% (+1.38)	―
May 30, 2025	2025 (Q4)	-0.46 / -1.43	-1.03	-38.83% (-0.40)	―
Feb 07, 2025	2025 (Q3)	-0.47 / -1.11	-2.62	57.63% (+1.51)	―
Nov 08, 2024	2025 (Q2)	-0.46 / -1.48	-4.3	65.58% (+2.82)	―
Aug 09, 2024	2025 (Q1)	-0.46 / -1.60	-0.7	-128.57% (-0.90)	―
May 30, 2024	2024 (Q4)	-0.44 / -1.03	-12.8	91.95% (+11.77)	―
Feb 09, 2024	2024 (Q3)	-0.50 / -2.62	-5.4	51.48% (+2.78)	―
Nov 09, 2023	2024 (Q2)	-1.57 / -4.30	-4.7	8.51% (+0.40)	―
Aug 09, 2023	2024 (Q1)	-1.77 / -0.70	-52.3	98.66% (+51.60)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:WEED Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 08, 2025	C$1.45	C$1.72	+18.62%
May 30, 2025	C$2.36	C$1.80	-23.73%
Feb 07, 2025	C$3.99	C$2.89	-27.57%
Nov 08, 2024	C$6.30	C$5.90	-6.35%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.