Canopy Growth Q1 Revenue Climbs 13%, Loss Shrinks 68% — Adjusted EBITDA Loss Cut to C$3.2M

summarizeSummary

Canopy Growth reported Q1 FY2027 revenue of C$81.2 million, up 13% year-over-year, with net loss narrowing to C$14.6 million. Adjusted EBITDA loss improved 59% to C$3.2 million, and adjusted gross margin rose to 31%.

check_boxKey Events · Earnings and Guidance · CGC

• Revenue Up 13% Across All Segments

  Consolidated net revenue reached C$81.2M, driven by 22% growth in Canada medical cannabis, 10% in adult-use, 10% in international markets, and 6% at Storz & Bickel.

• Net Loss Narrows 68% to C$14.6M

  Net loss improved from C$44.9M to C$14.6M, with adjusted EBITDA loss shrinking 59% to C$3.2M — approaching breakeven.

• Adjusted Gross Margin Jumps to 31%

  Adjusted gross margin rose from 25% to 31%, reflecting higher sales, cost rationalization, and MTL Cannabis synergies, despite VAC reimbursement headwinds.

• Free Cash Outflow Widens on Working Capital

  Free cash outflow increased to C$25.7M from C$11.6M, primarily due to timing of working capital changes, not operational deterioration.

auto_awesomeAnalysis · CGC · Life Sciences

A solid quarter for Canopy Growth, with revenue up 13% across all segments and the net loss shrinking by 68%. Adjusted EBITDA loss narrowed to just C$3.2 million, putting breakeven within reach. The improved gross margin and cost discipline show the MTL Cannabis integration is paying off, though free cash outflow widened on working capital timing. Against a backdrop of recent accounting restatements, a material weakness, and a pending reverse split vote to maintain Nasdaq listing, these results demonstrate operational momentum that strengthens the turnaround narrative.