Canopy Growth Corp. posted a 9% Y-Y revenue increase to $72.1M in Q1 FY2026, driven by a 43% surge in Canada adult-use cannabis sales and strong demand for new products, including Claybourne infused pre-rolls. The company achieved $17M of its planned $20M in annualized savings, cutting SG&A expenses by 21%. Gross margin fell to 25% from 35%, hurt by lower Storz & Bickel vaporizer sales and a shift toward higher-cost cannabis products.
International cannabis revenue rose 4% to $9M, with supply chain upgrades expected to boost European margins later this year. Canopy plans to launch a new Storz & Bickel vaporizer in the second half of 2025.
Net loss from continuing operations narrowed 21% to $23M, while adjusted EBITDA loss widened to $8M.
