Canopy Growth's second-quarter net revenue rose 22% year over year to C$81.40 million, slightly below the C$82.09 million consensus. Its adjusted EBITDA loss narrowed 6% to C$2.90 million, and the company expects positive adjusted EBITDA during fiscal 2027.
Canopy Growth reported second-quarter net revenue of C$81.40 million, up 22% year over year and slightly below analysts' C$82.09 million estimate. Adjusted EBITDA loss narrowed 6% to C$2.90 million as revenue grew and cost savings took effect. The company reported a C$0.10 loss per share and a 29% gross margin.
International cannabis revenue surged 141%, driven by medical cannabis sales in Germany and Poland, entry into the UK and expanded offerings in Australia. The acquisition of MTL Cannabis partly contributed to growth in Canadian medical and adult-use revenue. A lower Veterans Affairs Canada reimbursement rate for medical cannabis weighed on medical cannabis gross margin.
Canopy Growth expects to reach positive adjusted EBITDA during fiscal 2027 and anticipates ongoing momentum from international expansion and cultivation upgrades.
