Shares rose 3.0% as Canopy Growth’s revenue growth across all segments and significant margin expansion signaled improving execution and progress on its growth strategy, particularly in cultivation and international expansion.
- Net revenue increased 13% year-over-year to CAD 81.2 million, with cannabis segment up 14% and Storz & Bickel up 6%.
- Adjusted gross margin expanded by 600 basis points compared to last year, reflecting supply chain improvements and cost reductions.
- Canadian medical cannabis revenue rose 22% to CAD 25.8 million, driven by patient growth and integration of MTL Cannabis assets despite headwinds from lowered Veterans Affairs reimbursement rates.
- Canadian adult-use revenue grew 10% to CAD 29.7 million, with market share improving to #6 overall and leadership positions in key product categories.
- International cannabis revenue increased 10%, highlighted by strong sales momentum in Poland and preparations to enter the UK market in H2.
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