Canopy Growth Reports 17% Rise In Q2 Medical Cannabis Sales, Cuts Loss By 63% YoY

Cannabis giant Canopy Growth Corporation (TSX:WEED) (NASDAQ: CGC) reported on Friday that its medical revenue went up 17% in the second quarter of fiscal 2026 and 15% year-to-date to CA$22 million ($15.6 million).

Canada recreational cannabis revenue increased 30% sequentially, and 37% year-to-date to CA$24 million, the company said.

The second quarter financial report revealed that consolidated net revenue was CA$67 million for the period.

“We’re building a stronger, more competitive company defined by continued momentum in Canada adult-use cannabis, consistent growth in Canada medical cannabis, and a disciplined approach to strengthening our balance sheet,” Luc Mongeau, the company’s CEO, said. “Together, these actions give me confidence in our ability to sustain progress and deliver results for quarters to come.”

Other Q2 Financial Highlights

• International markets cannabis net revenue totaled CA$5 million, representing a decrease of 39% year-over-year.
• Storz & Bickel net revenue amounted to CA$16 million, representing a decrease of 10% compared to the second quarter of 2025.
• Consolidated gross margin was 33%, representing a decrease of 200 basis points year-over-year.
• Selling, general and administrative expenses decreased 13% year-over-year.
• Operating loss from continuing operations amounted to CA$17 million, representing an improvement of 63% year-over-year.
• Adjusted EBITDA came in negative at CA$3 million.
• Cash and cash equivalents at the end of the period were roughly CA$298 million, up from CA$228.4 million in the six months ended Sept. 30, 2024.

CGC Price Action

Canopy’s shares traded 2.8% higher at $1.12 per share at the time of writing on Friday.