Canopy Growth (TSX: WEED) (Nasdaq: CGC) today reported financial results for its fourth quarter and the fiscal year ended March 31, 2026. Consolidated net revenue reached $71.2 million in the fourth quarter, up 10% year-over-year, and $284.6 million for the full year, up 6%. The cannabis segment led the way, growing 15% to $213.9 million over the year as the Company's restructured operating model began to compound.
Growth was broad-based across the core platform. In the fourth quarter, Canada Medical revenue rose 27% to $25.3 million and International Markets Cannabis climbed 68% to $8.6 million, while Canada Adult-Use held steady at $20.6 million. For the full year, Canada Adult-Use grew 20% to $94.5 million and Canada Medical grew 18% to $90.8 million. Storz & Bickel vaporizer device sales eased 14% to $70.7 million as the category reset against a strong prior year.
The balance sheet was the headline story. Canopy ended the year in a net cash position of $131.3 million, a swing from $172.6 million of net debt a year earlier, following the recapitalization completed in January 2026. The full-year Adjusted EBITDA loss narrowed 14% to $20.2 million, and free cash flow improved to negative $69.1 million from negative $176.6 million in fiscal 2025. Adjusted gross margin held at 28% for the year.
"We reset the business, laid a disciplined foundation, and made deliberate investments," said Luc Mongeau, Chief Executive Officer. CFO Tom Stewart added that the strengthened balance sheet "reduces risk while expanding strategic flexibility." The Company reiterated that it expects to reach positive Adjusted EBITDA during fiscal 2027, with the more pronounced improvement weighted to the second half of the year as the MTL Cannabis acquisition is fully integrated.
This release was originally distributed via canopygrowth.com.
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