Adult-Use Cannabis Boom Powers Canopy Growth Sales, But Wider Loss Hits Margins
Canopy Growth Corporation (NASDAQ:CGC) reported its first-quarter 2026 financial results on Friday, announcing a wider-than-expected loss despite surpassing revenue forecasts.
The company reported a first-quarter loss of 16 cents (or 22 cents in Canadian dollars) on Friday, missing the consensus estimate of 15 cents.
Revenue rose 9% year over year to $64.12 million (or 72.13 million Canadian dollars), topping expectations of $47.91 million, driven by growth in Canada’s adult-use and medical cannabis segments, as well as international cannabis sales.
This growth was partially offset by a decline in its Storz & Bickel vaporizer division.
Canada adult-use cannabis net revenue reached 27 million Canadian dollars, representing an increase of 43%, driven by increased distribution and strong consumer demand for …