Canopy Growth (CGC) Company Report

Canopy Growth reported strong Q2 Fiscal 2026 results, with Canadian adult-use cannabis net revenue increasing 30% year-over-year and Canadian medical cannabis net revenue growing 17% year-over-year.
The company significantly narrowed its adjusted EBITDA loss to $3 million in Q2, compared to a $6 million loss a year ago, driven by CAD 21 million in annualized SG&A savings.
Canopy Growth improved its balance sheet, holding CAD 298 million in cash and cash equivalents as of September 30, 2025, exceeding debt balances by CAD 70 million, and prepaid $50 million on its senior secured term loan.
International markets saw a 39% decrease in cannabis sales due to supply challenges, though management expects stabilization and improvement by the fiscal year-end. Storz & Bickel net revenue was CAD 16 million, up 5% sequentially.

Nov 7, 2025, 3:00 PM

Canopy Growth Reports Improved Q2 FY2026 Financial Results

CGC

Earnings

Revenue Acceleration/Inflection

Canopy Growth reported consolidated net revenue of $67 million for the second quarter ended September 30, 2025 (Q2 FY2026), representing a 6% increase compared to Q2 FY2025.
The company's Adjusted EBITDA loss improved to $3 million in Q2 FY2026, compared to a $6 million loss in Q2 FY2025.
As of September 30, 2025, Canopy Growth had $298 million in cash and cash equivalents, exceeding its debt balances by $70 million, which resolved conditions that previously raised substantial doubt concerning the Company's ability to continue as a going concern.
Canada adult-use revenue increased 30% and Canada medical revenue grew 17% in Q2 FY2026 compared to Q2 FY2025.

Nov 7, 2025, 12:05 PM

Canopy Growth Completes Early Term Loan Prepayment

CGC

Debt Issuance

Canopy Growth has completed an early prepayment of $25 million on its senior secured term loan, fulfilling its entire $50 million prepayment obligation ahead of schedule.
This accelerated repayment is expected to reduce the company's annual cash interest expense by $6.5 million, with $4 million in interest savings already captured for fiscal 2026.
The company's financial position is strengthened by these debt reduction efforts.
Analyst consensus rates Canopy Growth's stock as a 'Hold', with price targets averaging $3.66 (over 160% potential upside) or C$2.00 (around 44.5% upside).

Sep 15, 2025, 11:09 AM

Canopy Growth Establishes New At-The-Market Program

CGC

New Projects/Investments

M&A

Canopy Growth Corporation established a new at-the-market (ATM) equity program on August 29, 2025, allowing it to issue and sell up to US$200 million of common shares.
The program permits concurrent public offerings in the United States and Canada, with Canadian sales limited to aggregate gross sales proceeds of up to US$50 million.
Net proceeds from the ATM Program are intended for investments in businesses, potential future acquisitions, working capital, and general corporate purposes, including the potential repayment of indebtedness.