The earnings call reflected significant top-line growth in cannabis revenue, successful cost reduction initiatives, and improved cash flow. However, these positive outcomes were tempered by challenges in certain segments like Storz & Bickel, compressed margins, and specific international market challenges, resulting in a slightly mixed picture.

Company Guidance -

Q2 2026

During Canopy Growth's First Quarter Fiscal 2026 Financial Results Conference Call, several key metrics and strategic insights were highlighted. Cannabis net revenue increased by 24% year-over-year, with Canada medical net revenue growing by 13%, marking the third consecutive quarter of growth. International net revenue saw a 4% increase, bolstered by triple-digit growth in Germany, while Canada adult-use net revenue experienced a significant surge of 43%. Storz & Bickel's revenue, however, declined by 25% compared to the previous year. The company achieved $17 million in annualized savings through expense reduction initiatives, reaching 85% of their $20 million target. Despite a higher adjusted EBITDA loss compared to the previous year, improvements in free cash flow and reductions in cash interest payments were noted. The company also focused on enhancing gross margins, targeting a low to mid-30s range by year-end, with plans to launch a new device in the Storz & Bickel segment to boost performance. With $144 million in cash and short-term investments and a debt balance of $295 million as of June 30, 2025, Canopy Growth is poised to continue capitalizing on growth opportunities while maintaining a strong focus on cost discipline and operational efficiency.

Cannabis Net Revenue Growth

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

International Market Growth

International net revenues returned to growth of 4%, with Germany experiencing triple-digit growth.

Cost Reduction Initiatives

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

Improved Cash Flow

Free cash flow was an outflow of $12 million, improved from an outflow of $56 million in the same period last year.

SG&A Expense Reduction

SG&A expenses declined 21% year-over-year, with a 15% reduction in SG&A headcount.

Canopy Growth (CGC) Earnings, Revenues Date & History

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CGC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 07, 2025	2026 (Q2)	-0.12 / -	-1.077	―	―	―
Aug 08, 2025	2026 (Q1)	-0.17 / -0.16	-1.164	86.25% (+1.00)	―
May 30, 2025	2025 (Q4)	-0.34 / -1.04	-0.749	-38.83% (-0.29)	―
Feb 07, 2025	2025 (Q3)	-0.34 / -0.81	-1.906	57.63% (+1.10)	―
Nov 08, 2024	2025 (Q2)	-0.33 / -1.08	-3.128	65.58% (+2.05)	―
Aug 09, 2024	2025 (Q1)	-0.33 / -1.16	-0.509	-128.57% (-0.65)	―
May 30, 2024	2024 (Q4)	-0.32 / -0.75	-9.311	91.95% (+8.56)	―
Feb 09, 2024	2024 (Q3)	-0.37 / -1.91	-3.928	51.48% (+2.02)	―
Nov 09, 2023	2024 (Q2)	-1.14 / -3.13	-3.419	8.51% (+0.29)	―
Aug 09, 2023	2024 (Q1)	-1.29 / -0.51	-38.042	98.66% (+37.53)	―

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

CGC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 08, 2025	$1.05	$1.25	+19.05%
May 30, 2025	$1.71	$1.32	-22.81%
Feb 07, 2025	$2.78	$2.02	-27.34%
Nov 08, 2024	$4.55	$4.24	-6.81%

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.