Canopy Growth Q3 revenue beats estimates driven by insured patients, larger orders

Overview

• Canada cannabis company's Q3 FY2026 revenue beat analyst expectations

• Net loss in Q3 FY2026 narrowed by 49% yr/yr

• Acquisition of MTL Cannabis remains on track to close in current qtr

Outlook

• Company expects positive Adjusted EBITDA during fiscal 2027

• Canopy Growth sees acquisition of MTL Cannabis strengthening global platform

• Company focuses on execution and high margin product segments in Canada

Result Drivers

• CANADA CANNABIS GROWTH - Canada medical cannabis net revenue increased 15% driven by more insured patients and larger orders

• INTERNATIONAL MARKET CHALLENGES - International markets cannabis net revenue decreased 31% due to supply chain issues in Europe

• SG&A COST SAVINGS - SG&A expenses decreased 12% yr/yr excluding acquisition costs, driven by headcount reductions and lower third-party costs

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy."

• Wall Street's median 12-month price target for Canopy Growth Corp is C$2.05, about 34.9% above its February 5 closing price of C$1.52

Press Release: ID:nBw3jD1X8a

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