By Adriano Marchese
Canopy Growth said its fourth-quarter loss narrowed as the company's Canadian cannabis business drove revenue growth and that it expects momentum to continue in the new fiscal year.
For the three months ended March 31, the Smiths Falls, Ontario cannabis company on Monday posted a narrowed net loss of 154.7 million Canadian dollars ($110.6 million), or C$0.40 a share, compared with a loss of C$196 million, or C$1.27 a share, in the comparable quarter a year ago.
Consolidated net revenue rose 10% to C$71.2 million, missing forecasts calling for growth to C$74.3 million.
The company's cannabis revenue rose 20% in the quarter to C$54.5 million, with Canadian medical cannabis sales rising 27% and adult-use cannabis increasing by 1%.
Meanwhile, the company's vaporizer manufacturing business, Storz & Bickel, saw revenue fall 14% to C$16.8 million.
Canopy Growth said that it expects net revenue to grow in fiscal 2027 as improved cultivation practices lift gross margins while cost-cutting measures reduce operating expenses.
The company also expects to achieve positive adjusted earnings before interest, taxes, depreciation and amortization in the year, with gains weighted toward the second half of the year.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
June 15, 2026 07:37 ET (11:37 GMT)
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