Canopy Growth Q3 revenue beats estimates driven by insured patients, larger orders

Canopy Growth

06/02/2026 12:08

Overview

Canada cannabis company's Q3 FY2026 revenue beat analyst expectations

Net loss in Q3 FY2026 narrowed by 49% yr/yr

Acquisition of MTL Cannabis remains on track to close in current qtr

Outlook

Company expects positive Adjusted EBITDA during fiscal 2027

Canopy Growth sees acquisition of MTL Cannabis strengthening global platform

Company focuses on execution and high margin product segments in Canada

Result Drivers

CANADA CANNABIS GROWTH - Canada medical cannabis net revenue increased 15% driven by more insured patients and larger orders

INTERNATIONAL MARKET CHALLENGES - International markets cannabis net revenue decreased 31% due to supply chain issues in Europe

SG&A COST SAVINGS - SG&A expenses decreased 12% yr/yr excluding acquisition costs, driven by headcount reductions and lower third-party costs

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
C$75 mln
C$70.96 mln (5 Analysts)
Q3 EPS
-C$0.18
Q3 Adjusted EBITDA
-C$3 mln
Q3 Gross Margin
29.00%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the pharmaceuticals peer group is "buy."

Wall Street's median 12-month price target for Canopy Growth Corp is C$2.05, about 34.9% above its February 5 closing price of C$1.52

Press Release: ID:nBw3jD1X8a

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)