Village Farms’ Q1 Net Sales Up 27% to $50.2M as Export Sales Surge 171%
VFF•Village Farms’ Q1 net sales rose 27% year-over-year to $50.2 million, with adjusted EBITDA jumping 118% to $9.9 million (20% of sales) and net income of $2.9 million. International export sales set a record, up 171% to $14.6 million, supported by upgrades to its 4.8 million-sq-ft EU-GMP certified facility.
1. Q1 2026 Financial Performance
Village Farms reported consolidated net sales of $50.2 million, up 27% year-over-year, with net income of $2.9 million or $0.03 per share. Adjusted EBITDA from continuing operations climbed 118% to $9.9 million, representing 20% of sales, driven by strong margin performance across its cannabis operations.
2. Facility Upgrades and Segment Realignment
During Q1, the company completed upgrades at its 4.8 million-sq-ft British Columbia campus, creating the world’s largest EU-GMP certified cannabis facility. A shift to a unified cannabis operating model streamlined reporting into a single segment to enhance operational efficiency and resource alignment.
3. Market Share and Export Leadership
International export sales reached a record $14.6 million, up 171% year-over-year, with Netherlands sales surging 448% and Canadian branded sales up 5%. The Pure Sunfarms brand extended its dried flower market share dominance for the 15th consecutive month, and the company remains a top exporter to Europe, particularly Germany.
4. Outlook and Cash Position
Village Farms expects Netherlands and Canadian expansions to bolster sales in the second half of 2026. After $6.4 million in share repurchases, $9.2 million in capital expenditures, and $15.0 million in income tax payments, management anticipates growing its cash balance through operating cash flow by year-end.
