Exhibit 99.1 Canopy Growth Reports First Quarter Fiscal 2026 Financial Results; Cannabis revenue increased 24% year-over-year Canada adult-use cannabis Q1 FY2026 net revenue increased 43% year-over-year, benefiting from increased distribution and strong consumer demand for new products, including Claybourne infused pre-roll joints Company has achieved $17MM of planned $20MM annualized savings target since March 1, 2025; SG&A expenses down 21% year- over-year in Q1 FY2026 compared to Q1 FY2025 Supply chain i ...

PART I. FINANCIAL INFORMATION Details the company's unaudited condensed interim consolidated financial statements and related disclosures for Q1 FY2026 [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Presents Canopy Growth Corporation's unaudited condensed interim consolidated financial statements for Q1 FY2026, including balance sheets, operations, cash flows, and notes [Condensed Interim Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Interim%20Consolidated%20Balance%20Sheets) Details the company's financial position as of June 30, 2025, with **$904.7 million** total assets, **$415.7 million** total liabilities, and stable equity Consolidated Balance Sheet Summary (in thousands of Canadian dollars) | Balance Sheet Item | June 30, 2025 | March 31, 2025 | | :--- | :--- | :--- | | **Total Current Assets** | $303,359 | $294,574 | | **Total Assets** | **$904,671** | **$917,701** | | **Total Current Liabilities** | $98,669 | $94,404 | | **Total Liabilities** | **$415,695** | **$430,488** | | **Total Shareholders' Equity** | **$488,976** | **$487,213** | [Condensed Interim Consolidated Statements of Operations and Comprehensive Loss](index=4&type=section&id=Condensed%20Interim%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Reports **9% YoY net revenue increase** to **$72.1 million** for Q1 FY2026, with net loss significantly narrowing to **$41.5 million** Statement of Operations Summary (in thousands of Canadian dollars) | Metric | Q1 FY2026 (3 mos ended Jun 30, 2025) | Q1 FY2025 (3 mos ended Jun 30, 2024) | | :--- | :--- | :--- | | Net Revenue | $72,134 | $66,212 | | Gross Margin | $18,038 | $23,031 | | Operating Loss from Continuing Operations | $(22,624) | $(29,108) | | Net Loss from Continuing Operations | $(41,527) | $(129,191) | | Basic and Diluted Loss Per Share | $(0.22) | $(1.63) | [Condensed Interim Consolidated Statements of Shareholders' Equity](index=5&type=section&id=Condensed%20Interim%20Consolidated%20Statements%20of%20Shareholders'%20Equity) Shows a slight increase in total shareholders' equity to **$489.0 million**, driven by **$38.3 million** from share issuances offsetting net loss - During the quarter, the company issued common shares for gross proceeds of **$38.3 million** through its At-The-Market (ATM) program[15](index=15&type=chunk) [Condensed Interim Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Interim%20Consolidated%20Statements%20of%20Cash%20Flows) Highlights a significant reduction in net cash used in operating activities to **$10.3 million**, with a net increase in cash of **$12.4 million** Cash Flow Summary (in thousands of Canadian dollars) | Cash Flow Activity | Q1 FY2026 (3 mos ended Jun 30, 2025) | Q1 FY2025 (3 mos ended Jun 30, 2024) | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | $(10,337) | $(51,780) | | Net Cash Used in Investing Activities | $(705) | $(33,029) | | Net Cash Provided by Financing Activities | $25,460 | $105,775 | | **Net Increase in Cash** | **$12,391** | **$21,856** | | **Cash and Cash Equivalents, End of Period** | **$126,202** | **$192,156** | [Notes to the Condensed Interim Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20the%20Condensed%20Interim%20Consolidated%20Financial%20Statements) Provides critical details on accounting policies and significant events, including going concern alleviation, Canopy USA deconsolidation, and debt management - Management concludes that the **substantial doubt about the Company's ability to continue as a going concern has been alleviated** due to actions taken, including the sale of common shares under the February 2025 ATM Program and other potential financing and cost-saving strategies[33](index=33&type=chunk)[34](index=34&type=chunk)[35](index=35&type=chunk) - As of April 30, 2024, Canopy Growth deconsolidated the financial results of Canopy USA following structural amendments to comply with Nasdaq listing requirements and after discussions with the SEC. Canopy USA holds the company's U.S. cannabis investments, including Wana, Jetty, and Acreage[52](index=52&type=chunk)[56](index=56&type=chunk)[73](index=73&type=chunk) - During the quarter, the company sold **21,006,528 common shares** for gross proceeds of **$38.3 million** under its February 2025 ATM Program. Subsequent to quarter-end, it sold an additional **34.6 million shares** for **$54.3 million**[132](index=132&type=chunk)[170](index=170&type=chunk) - The company has changed its reportable segments to two: (1) **Cannabis**, which includes global cannabis operations, and (2) **Storz & Bickel**, which includes vaporizers and accessories[165](index=165&type=chunk)[166](index=166&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=41&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 FY2026 financial performance, highlighting **9% revenue growth**, gross margin decline, narrowed net loss, liquidity, and going concern alleviation [Business Overview](index=46&type=section&id=Business%20Overview) Outlines Canopy Growth's global cannabis business, focusing on Canopy USA's strategic creation and deconsolidation for U.S. market entry and Nasdaq compliance - The company's core business is the production, distribution, and sale of cannabis and related products for adult-use and medical purposes globally[183](index=183&type=chunk) - The company has restructured its reporting into two segments: **Cannabis** and **Storz & Bickel**[186](index=186&type=chunk)[189](index=189&type=chunk) - Canopy USA was created to hold U.S. cannabis investments (Wana, Jetty, Acreage, TerrAscend). Canopy Growth has since **deconsolidated Canopy USA** to comply with Nasdaq listing rules, holding a non-voting, non-controlling interest until U.S. federal permissibility[187](index=187&type=chunk)[196](index=196&type=chunk)[197](index=197&type=chunk) [Results of Operations](index=56&type=section&id=Results%20of%20Operations) Details Q1 FY2026 operational results, including **9% net revenue growth**, **25% gross margin**, reduced operating expenses, and a narrowed net loss Net Revenue by Segment (in thousands of Canadian dollars) | Segment | Q1 FY2026 | Q1 FY2025 | % Change | | :--- | :--- | :--- | :--- | | Cannabis | $56,982 | $46,093 | 24% | | Storz & Bickel | $15,152 | $20,119 | (25%) | | **Total Net Revenue** | **$72,134** | **$66,212** | **9%** | Gross Margin by Segment | Segment | Q1 FY2026 Margin % | Q1 FY2025 Margin % | Basis Point Change | | :--- | :--- | :--- | :--- | | Cannabis | 24% | 33% | (900) bps | | Storz & Bickel | 29% | 39% | (1,000) bps | | **Total Company** | **25%** | **35%** | **(1,000) bps** | - Total operating expenses decreased **22% YoY** to **$40.7 million**, driven by a **21% reduction in SG&A expenses** and a reversal in share-based compensation[237](index=237&type=chunk) - Adjusted EBITDA loss increased to **$7.9 million** from **$5.3 million** year-over-year, primarily due to lower gross margins, which was partially offset by SG&A cost savings[256](index=256&type=chunk) [Financial Liquidity and Capital Resources](index=63&type=section&id=Financial%20Liquidity%20and%20Capital%20Resources) Discusses financial liquidity, confirming going concern alleviation, with **$126.2 million** cash, improved free cash flow, and **$295.3 million** total debt - The company has **alleviated substantial doubt about its going concern status** by completing balance sheet actions, including raising **$38.3 million** from its ATM program during the quarter[259](index=259&type=chunk)[262](index=262&type=chunk) Free Cash Flow (Non-GAAP, in thousands of Canadian dollars) | Metric | Q1 FY2026 | Q1 FY2025 | | :--- | :--- | :--- | | Net cash used in operating activities | $(10,337) | $(51,780) | | Purchases of property, plant and equipment | $(1,306) | $(3,920) | | **Free Cash Flow** | **$(11,643)** | **$(55,700)** | - Total debt outstanding was **$295.3 million** as of June 30, 2025, down from **$304.1 million** at March 31, 2025, due to paydowns and foreign currency translation[280](index=280&type=chunk) - Subsequent to the quarter, the company agreed to make three additional prepayments on its Credit Facility totaling **US$50 million**, with the first **US$25 million** payment made on July 31, 2025[294](index=294&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=72&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Details exposure to market risks, including foreign currency fluctuations, interest rate changes on variable debt, and equity price volatility - The company is exposed to foreign currency risk from its U.S. and European subsidiaries. A hypothetical **10% change in the euro against the Canadian dollar** would affect net assets by approximately **$19.3 million**[312](index=312&type=chunk)[313](index=313&type=chunk) - The company is exposed to interest rate risk on its floating-rate debt, which had an aggregate notional value of **$205.0 million** as of June 30, 2025[317](index=317&type=chunk)[318](index=318&type=chunk) - The company holds financial assets and liabilities, such as investments in shares, warrants, and convertible debentures, which are subject to equity price risk[319](index=319&type=chunk) [Item 4. Controls and Procedures](index=75&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of June 30, 2025, with no material changes to internal control over financial reporting - The Chief Executive Officer and Interim Chief Financial Officer concluded that as of June 30, 2025, the company's **disclosure controls and procedures were effective**[323](index=323&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[324](index=324&type=chunk) PART II. OTHER INFORMATION Provides additional information not covered in financial statements, including legal proceedings, risk factors, equity sales, and exhibits [Item 1. Legal Proceedings](index=76&type=section&id=Item%201.%20Legal%20Proceedings) Details ongoing legal proceedings, including shareholder class action lawsuits and an SEC investigation related to BioSteel financial reporting - The company is a defendant in putative class action lawsuits in Ontario, British Columbia, and New York, all alleging misrepresentations in financial disclosures[328](index=328&type=chunk)[329](index=329&type=chunk)[332](index=332&type=chunk) - The company is the subject of an ongoing **SEC investigation** as a result of self-reporting its internal review of financial reporting matters related to the BioSteel business unit[330](index=330&type=chunk) [Item 1A. Risk Factors](index=78&type=section&id=Item%201A.%20Risk%20Factors) Reports no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K - No material changes to the risk factors disclosed in the Annual Report have occurred[336](index=336&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=78&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Reports no unregistered sales of equity securities during the period - None[337](index=337&type=chunk) [Item 3. Defaults Upon Senior Securities](index=78&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) Reports no defaults upon senior securities during the period - None[338](index=338&type=chunk) [Item 4. Mine Safety Disclosures](index=78&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[339](index=339&type=chunk) [Item 5. Other Information](index=78&type=section&id=Item%205.%20Other%20Information) Reports no director or officer adopted or terminated a Rule 10b5-1 trading arrangement during the quarter - No director or officer adopted or terminated a Rule 10b5-1 trading arrangement during the three months ended June 30, 2025[340](index=340&type=chunk) [Item 6. Exhibits](index=78&type=section&id=Item%206.%20Exhibits) Lists exhibits filed with the Form 10-Q, including articles of incorporation, material contracts, and officer certifications - Exhibits filed include certifications by the Principal Executive Officer and Principal Financial Officer, and various agreements such as the Third Amended and Restated Credit Agreement[341](index=341&type=chunk)

High-Potential Canadian Cannabis Stocks for Traders This Week The U.S. cannabis industry remains a high-growth sector, valued at over $34 billion in 2024. Experts project it could reach $57 billion by 2030. Despite short-term volatility, marijuana penny stocks continue to attract attention from risk-tolerant investors. This week, traders are watching these low-priced stocks for potential breakouts. Many of these companies operate in emerging markets or hold licenses in high-demand states. Recently, a major ...

Company Performance - Canopy Growth Corporation (CGC) stock increased by 1.94% to $1.05, outperforming the S&P 500 which fell by 1.6% [1] - Over the past month, CGC shares have decreased by 19.53%, while the Medical sector declined by 3.44% and the S&P 500 rose by 2.25% [1] Upcoming Financial Results - Canopy Growth Corporation is set to announce its earnings on August 8, 2025, with projected earnings of -$0.15 per share, reflecting a year-over-year growth of 59.46% [2] - The consensus estimate anticipates revenue of $47.91 million, indicating a 0.99% decrease from the same quarter last year [2] Full Year Estimates - For the full year, analysts expect earnings of -$0.46 per share and revenue of $198.45 million, representing changes of +84.56% and +2.66% respectively from the previous year [3] Analyst Estimates and Market Sentiment - Recent changes to analyst estimates for Canopy Growth Corporation indicate a shifting business landscape, with positive revisions suggesting analyst optimism about profitability [4] - The Zacks Rank system, which assesses estimate changes, currently ranks Canopy Growth Corporation as 5 (Strong Sell), reflecting a 5.38% decrease in the consensus EPS estimate over the last 30 days [6] Industry Context - The Medical - Products industry, which includes Canopy Growth Corporation, has a Zacks Industry Rank of 183, placing it in the bottom 26% of over 250 industries [7]

Company Performance - Canopy Growth Corporation (CGC) closed at $1.14, reflecting a +2.7% increase from the previous day, outperforming the S&P 500's gain of 0.4% [1] - The stock has decreased by 10.48% over the past month, underperforming the Medical sector's gain of 1.19% and the S&P 500's gain of 4.61% [1] Earnings Expectations - Analysts anticipate Canopy Growth Corporation to report earnings of -$0.11 per share, indicating a year-over-year growth of 70.27% [2] - The consensus estimate for quarterly revenue is $48.08 million, which represents a decline of 0.64% compared to the same period last year [2] Full Year Projections - For the full year, analysts expect earnings of -$0.43 per share and revenue of $199.33 million, reflecting changes of +85.57% and +3.12% respectively from the previous year [3] Analyst Estimate Revisions - Recent modifications to analyst estimates for Canopy Growth Corporation are crucial as they indicate changing business trends, with positive revisions suggesting increased confidence in performance [4] - The Zacks Rank system, which incorporates these estimate changes, provides actionable ratings based on stock performance [5] Zacks Rank and Industry Position - Canopy Growth Corporation currently holds a Zacks Rank of 3 (Hold), with a recent downward shift of 5.69% in the consensus EPS estimate [6] - The Medical - Products industry, part of the Medical sector, has a Zacks Industry Rank of 175, placing it in the bottom 30% of over 250 industries [7]

Industry Overview - The Canadian cannabis market is gaining investor attention as the U.S. cannabis industry continues to grow rapidly, with legal cannabis sales projected to reach nearly $39 billion in 2024 and potentially exceed $44 billion in 2025 [1] - Despite the growth, federal legalization in the U.S. remains stalled, but several states are advancing their own reform efforts, which is attracting interest in Canadian companies with U.S. exposure [1] Company Highlights - **Tilray Brands Inc. (TLRY)**: - Tilray has expanded significantly in the U.S., owning over 150 dispensaries in key markets like California and Michigan, and has diversified into the wellness and THC-infused beverage sectors [4][7] - The company reported a 13% increase in net revenue to $200 million, with its cannabis segment generating $61 million at a 40% gross margin, and a 132% year-over-year growth in the beverage segment [7] - Although Tilray posted a net loss, it narrowed that loss and achieved an adjusted EBITDA of $9 million, indicating improving fundamentals [7] - **Canopy Growth Corporation (CGC)**: - Canopy operates approximately 120 dispensaries in the U.S. and owns the vaporizer company Storz & Bickel, focusing on both recreational and medical markets [8][10] - The latest quarterly report showed net revenue of around C$66 million, a slight decrease from the previous year, but gross profit rose over 65% to achieve a 35% gross margin [10] - Canopy has cut its total debt by nearly 50% over the fiscal year, reflecting a strong focus on long-term sustainability and operational efficiency [10] - **Cronos Group Inc. (CRON)**: - Cronos has a growing presence in the U.S. with distribution deals supplying products to around 80 dispensaries, focusing on cannabinoid innovation [11][13] - The company reported net revenue of over $32 million, reflecting year-over-year growth, and gross profit rose to $13.7 million due to better cost management [13] - Cronos is investing in research and development to position itself for long-term success in the competitive U.S. market [13] Strategic Insights - The three Canadian cannabis companies—Tilray, Canopy Growth, and Cronos—are strategically expanding their U.S. footprint and improving financial health, making them key players to watch as U.S. legalization discussions continue [14]

Company Performance - Canopy Growth Corporation (CGC) closed at $1.09, reflecting a -1.8% change from the previous day, underperforming the S&P 500's loss of 0.01% [1] - Prior to the latest trading session, the company's shares had decreased by 13.95%, contrasting with the Medical sector's loss of 1.59% and the S&P 500's gain of 5.37% [1] Upcoming Earnings - The company is expected to report an EPS of -$0.11, which represents a 70.27% improvement from the same quarter last year [2] - Revenue is anticipated to be $48.08 million, indicating a 0.64% decline compared to the same quarter last year [2] Full Year Estimates - For the full year, the Zacks Consensus Estimates project an EPS of -$0.43 and revenue of $199.33 million, showing changes of +85.57% and +3.12% respectively from the previous year [3] Analyst Estimates - Recent modifications to analyst estimates for Canopy Growth Corporation reflect short-term business trends, with upward revisions indicating analysts' positive outlook on the company's operations [4] - The Zacks Rank system, which incorporates these estimate changes, provides a rating system for stocks [5] Zacks Rank - Canopy Growth Corporation currently holds a Zacks Rank of 3 (Hold), with a 5.69% downward shift in the consensus EPS estimate over the past month [6] Industry Context - The Medical - Products industry, which includes Canopy Growth Corporation, has a Zacks Industry Rank of 169, placing it in the bottom 32% of over 250 industries [7] - The Zacks Industry Rank measures the strength of industry groups based on the average Zacks Rank of individual stocks, with top-rated industries outperforming lower-rated ones by a factor of 2 to 1 [7]

Canadian Gold Corp. Field Exploration Underway at Hammond Reef South and Tartan WestJuly 17, 2025 7:30 AM EDT | Source: Canadian Gold Corp.Flin Flon, Manitoba--(Newsfile Corp. - July 17, 2025) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce the commencement of two independent field exploration programs, one at the Tartan West Property (recently optioned from Hudbay Minerals Inc.) located immediately adjacent to the west of the Tartan Mine Property in ...

Group 1: Canopy Growth - Canopy Growth has been a disappointing investment over the past five years, with a significant decline in net revenue and increased losses per share [3][4] - The cannabis industry faces challenges such as legal and regulatory issues, competition from illicit markets, and oversupply, particularly in Canada [5][6] - Despite cost-cutting efforts and a focus on in-demand products, the long-term outlook for Canopy Growth remains bleak, with expectations of further stock decline [6][7] Group 2: Novavax - Novavax reported substantial revenue growth in the first quarter, with revenue of $666.7 million and a net income of $518.6 million, a significant improvement from the previous year [8] - The company has positive results from phase 3 studies for its influenza and combination COVID-19 vaccines, along with partnerships with major pharmaceutical companies [8][9] - However, the long-term sustainability of Novavax's performance is questionable due to market unpredictability, competition from leaders like Moderna and Pfizer, and reliance on external funding for future trials [10][12][13]

Core Viewpoint - Canadian Gold Corp. has successfully closed an over-subscribed private placement, raising gross proceeds of $385,000 through the issuance of 1,203,125 flow-through common shares at a price of $0.32 per share [1][2]. Group 1: Financial Details - The gross proceeds from the private placement will be allocated to follow-up exploration work at the 100%-owned Hammond Reef South property and other Canadian projects [2]. - The company incurred a cash finder's fee of $19,250 in connection with the offering [4]. - All securities issued are subject to a hold period of four months and one day, pending final approval from the TSX Venture Exchange [4]. Group 2: Company Background - Canadian Gold Corp. is focused on mineral exploration and development, particularly aiming to expand the high-grade gold resource at the historic Tartan Mine in Flin Flon, Manitoba, which has an indicated mineral resource estimate of 240,000 oz gold [7][8]. - The company also holds a 100% interest in exploration properties in Ontario and Quebec, adjacent to major gold mines and development projects [8].