Canopy Growth posts mixed Q3 results, narrower loss amid ongoing cost cuts

Canopy Growth Corporation (TSX:WEED, NYSE:CGC) reported mixed results for the fiscal 3rd quarter, with gross beating estimates and a narrower loss, though per-share results missed expectations.

The Ontario-based cannabis shaper said nett gross totaled C$74.5 cardinal for the 4th ended December 31, astir unchanged from a twelvemonth earlier and supra the C$70.5 cardinal Wall Street statement estimate.

However, Canopy reported a nonaccomplishment of C$0.18 per share, an betterment of astir 84% from the anterior twelvemonth period, but much than the C$0.08 nonaccomplishment per stock expected by analysts.

Net nonaccomplishment narrowed 49% twelvemonth implicit year, portion adjusted EBITDA nonaccomplishment narrowed 17%, which the institution attributed to stronger income execution and little SG&A expenses.

Canopy said cannabis nett gross roseate 4% to C$52 million. Canadian aesculapian cannabis gross accrued 15% to C$23 million, driven by maturation successful insured patients and larger bid sizes, portion Canadian adult-use gross roseate 8% to C$23 million, supported by maturation successful infused pre-rolls and caller all-in-one vape products.

International cannabis gross declined 31% twelvemonth implicit twelvemonth owed to proviso concatenation challenges successful Europe, though it accrued 22% sequentially arsenic shipments improved aboriginal successful the quarter.

The company’s Storz & Bickel vaporizer concern reported nett gross of C$23 million, up 45% sequentially connected seasonal request and a caller merchandise launch, but down 9% from a twelvemonth earlier.

Consolidated gross borderline declined to 29% from 32% a twelvemonth ago, reflecting little planetary cannabis income and changes successful merchandise mix, portion selling, wide and administrative expenses fell connected an adjusted ground owed to headcount reductions and little third-party costs.

Canopy said it has achieved C$29 cardinal successful annualized outgo savings since March 2025 and continues to prosecute further efficiencies.

The institution said its acquisition of MTL Cannabis remains connected way to adjacent successful the existent 4th and is expected to fortify its planetary cannabis platform.

“The 3rd 4th of fiscal 2026 reflects improving fundamentals and a much focused, integrated operating exemplary crossed the business, led by spot successful Canada,” Canopy Growth CEO Luc Mongeau said successful a statement.

“As we proceed sharpening execution and determination toward closing the acquisition of MTL Cannabis, we spot a wide accidental to further fortify our level implicit time.”

Shares of Canopy Growth added 1.9% pursuing the report.