CGC
Canopy Growth Corporation1.8300
+0.1700+10.2%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
674.28MP/E (TTM)
-Basic EPS (TTM)
-1.94Dividend Yield
0%Recent Filings
8-K
Q3 loss narrows sharply
Canopy Growth reported Q3 FY2026 results on February 6, 2026, with net revenue flat at $75M but Canada cannabis up 4% to $52M on 15% medical and 8% adult-use gains. Net loss narrowed 49% to $63M, Adjusted EBITDA loss shrank 17% to $3M via SG&A cuts; cash swelled to $371M, net cash $146M. MTL Cannabis acquisition tracks for this quarter close.
10-Q
Q3 FY2026 results
Canopy Growth posted flat net revenue of $74.5M CAD for Q3 FY2026 ended December 31, 2025, edging up 5% y/y to $213.4M YTD while gross margins slipped to 29% from 32% y/y amid product mix shifts and international softness. Canadian cannabis drove gains—adult-use +8% y/y, medical +15% y/y—yet operating losses narrowed to $26.4M from $23.8M y/y, with SG&A disciplined despite M&A costs. Cash swelled to $371M on $374M ATM raises, debt trimmed to $225M; free cash flow burned $50M YTD (derived). Acreage default risks loom large.
8-K
Secures $150M debt, extends maturities
Canopy Growth secured US$150M in new senior debt maturing January 2031, refinancing ~US$101M prior loans while issuing 18.7M warrants at US$1.30 strike. Concurrently exchanged C$96M 2029 debentures for C$55M new debentures to 2031, C$10.5M cash, 9.5M shares, and 12.7M warrants at C$2.16 strike. Lenders gained liens on all assets; minimum cash covenant is lesser of US$90M or loan principal. Warrants dilute equity; prepayment fees deter early exit.
8-K
Canopy to acquire MTL in all-share deal
Canopy Growth signed an Arrangement Agreement on December 14, 2025, to acquire MTL Cannabis Corp., issuing ~38 million shares and C$17 million cash for all MTL shares, plus up to 2.96 million shares for MC shareholder releases. Deal awaits MTL's 2/3 shareholder vote by February 17, 2026, court and Competition Act approvals, targeting close by end-February 2026; 75% shares locked up to 12 months. Locks in MTL's cultivation talent as COO hire bolsters ops.
10-Q
Q2 FY2026 results
Canopy Growth posted Q2 FY2026 net revenue of $67M, up 6% y/y, driven by 30% growth in Canadian adult-use cannabis to $24M yet offset by softer international sales. Gross margin held at 33%, down 2 points y/y amid inventory provisions, while operating loss narrowed to $17M from $46M thanks to 13% SG&A cuts and minimal $0.5M restructuring. Cash swelled to $298M on $194M ATM equity raises, funding $72M debt paydowns that trimmed total debt to $228M; free cash flow improved to -$19M outflow. Diluted EPS loss of $0.01 reconciles to 274M shares. Litigation lingers.
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