Canopy Growth reported a 27% increase in medical marijuana revenue in the fourth quarter of fiscal 2026, and a 17% rise for the full fiscal year, driven by its recent acquisition of MTL Cannabis. However, the company's recreational cannabis revenue grew only 1% in the fourth quarter, international cannabis sales fell 7% year over year, and its Storz & Bickel vaporizer business declined 14%. Gross margin dropped four percentage points in the quarter and six points for the full year, and Canopy Growth posted negative earnings for the tenth consecutive year since going public. The company also recapitalized its balance sheet by exchanging shares for debt, leaving only the most aggressive investors likely to bet on a sustained rally.
Canopy Growth CorpNegative earnings for tenth consecutive year and declining gross margins