Canopy Growth(US:CGC) Yahoo Finance·2026-02-06 14:06Core Insights - Canopy Growth Corporation reported mixed results for Q3, with revenue exceeding estimates and a narrower loss, although per-share results fell short of expectations [2][3] Financial Performance - Net revenue for the quarter was C$74.5 million, roughly unchanged from the previous year and above the C$70.5 million consensus estimate [3] - The company reported a loss of C$0.18 per share, an improvement of approximately 84% year-over-year, but higher than the expected loss of C$0.08 per share [3] - Net loss narrowed by 49% year-over-year, while adjusted EBITDA loss decreased by 17%, attributed to stronger sales execution and reduced SG&A expenses [4] Revenue Breakdown - Cannabis net revenue increased by 4% to C$52 million [4] - Canadian medical cannabis revenue rose by 15% to C$23 million, driven by growth in insured patients and larger order sizes [4] - Canadian adult-use revenue increased by 8% to C$23 million, supported by growth in infused pre-rolls and new all-in-one vape products [4] - International cannabis revenue declined by 31% year-over-year due to supply chain challenges in Europe, but increased by 22% sequentially as shipments improved [5] Cost Management - Consolidated gross margin decreased to 29% from 32% a year ago, reflecting lower international cannabis sales and changes in product mix [6] - Selling, general, and administrative expenses fell on an adjusted basis due to headcount reductions and lower third-party costs [6] - The company achieved C$29 million in annualized cost savings since March 2025 and continues to seek additional efficiencies [6] Strategic Developments - The acquisition of MTL Cannabis is on track to close in the current quarter, expected to strengthen the company's global cannabis platform [7] - CEO Luc Mongeau noted that the third quarter reflects improving fundamentals and a more focused operating model, particularly in Canada [7] - Following the report, shares of Canopy Growth increased by 1.9% [8]