Canopy Gwth Q4 2026 Earnings Call Transcript

Canopy Gwth (TSX: WEED ) released fourth-quarter financial results and hosted an earnings call on Monday.

Read the complete transcript below.

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View the webcast at Summary Roundhill Cannabis ETF reported a 6% increase in net revenue to $285 million, driven by 18% growth in Canadian medical cannabis and a 20% increase in Canadian adult use cannabis.

The strategic acquisition of MTL Cannabis has positioned the company as a leader in the Canadian medical cannabis market, with integration efforts advancing rapidly and $6 million in targeted annualized cost synergies already achieved.

Management expressed confidence in achieving positive adjusted EBITDA during fiscal 2027, supported by continued revenue growth and decreasing costs, with a focus on expanding markets in Europe and leveraging their strengthened platform and product portfolio.

Full Transcript OPERATOR (Operator) Good morning and thank you for joining us.

On our call today we have Canopy Growth's Chief Executive Officer Luc Mongeau and Chief Financial Officer Tom Stewart.

Prior to the opening of financial markets today, Canopy Growth issued a news release announcing the financial results for its fourth quarter and fiscal year ended March 31, 2026.

The news release and financial statements have been filed on EDGAR and Sedar and will be available on the website under the Investors tab.

Before we begin, I would like to remind you that our discussion during the call will include forward-looking statements that are based on management's current views and assumptions and that this discussion is qualified in entirety by the cautionary note regarding forward-looking statements included at the end of the news release issued today.

Please review today's earnings release and Canopy's reports filed with the SEC and SEDAR for various factors that could cause actual results to differ materially from projections.

In addition, reconciliations between any non-GAAP measures to their closest reported GAAP measures are included in our earnings release.

Please note that all financial information is provided in Penny and Dollars unless otherwise stated.

Following remarks by Luke and Tom, we will conduct a question and answer session where we will take questions from analysts and with that I would like to turn the call over to Luke.

Luc Mongeau, Chief Executive Officer Thank you.

Good morning everyone and thank you for joining us today.

Fiscal 2026 was a defining year for Canopy Growth.

We made the hard calls early, streamlining the business, sharpening our focus and reallocating resources to where we see the greatest long-term opportunity.

We also invested in people needed to execute at a higher level.

These actions are now beginning to show up in the business.

On that, I want to take this opportunity to thank our teams and say how proud I am of how they responded throughout the year.

The focus, collaboration and execution across the organization was critical to the progress we achieved.

Our full-year performance reflected continued momentum with net revenue increasing 20% in Canada adult use cannabis and 18% in Canada medical.

Alongside operational execution across the platform over the past year, we also optimized our structure and reset the cost base to a more sustainable level, removing significant expenses from the business.

These changes drove stronger financial performance in fiscal 2026 and we expect the benefits to be even more meaningful in the current year.

In parallel, we recapitalized the business to strengthen our balance sheet, stabilize our cash balance and extend debt maturities to 2031.

This improved financial position expands our strategic flexibility while reducing risk and uncertainty.

The defining milestone of the year was the acquisition of MTL Cannabis, establishing Canopy as the leading Canadian medical cannabis business by Revi.

With increased scale, broader capabilities and greater market reach, we are now operating for a significantly stronger position.

Valential has only been part of Canopy for two months.

Integration efforts have advanced quickly.

We are already executing on 6 million of our targeted 10 million of annualized cost synergies and the benefit extend way beyond cost savings.

We are leveraging Canopy's robust distribution platform to extend the reach of the MTL products, including the recently announced launch of MTL strains in Germany.

Just as importantly, the MTL team brought a strong track record of producing best-in-class products and executing at high operational standards.