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EX-99.1

2 cgc-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Canopy Growth Reports Fourth Quarter and Fiscal Year 2026 Financial Results;

Delivers Q4 FY2026 Net Revenue Growth of 27% in Canada Medical and 68% in International Markets Cannabis

Full-year 2026 growth driven by net revenue increases of 20% in Canada adult-use cannabis and 18% in Canada medical

Completed acquisition of MTL Cannabis, positioning Canopy Growth as Canada’s leading medical cannabis company by revenue

Ended the fiscal year with $131.3M of net cash following strategic recapitalization completed in January 2026

Strategic decisions and financial discipline in FY2026 establish a foundation for acceleration and growth

SMITHS FALLS, ON, June 15, 2026 - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (Nasdaq: CGC) today announced its financial results for the three months ended March 31, 2026 ("Q4 FY2026") and the fiscal year ended March 31, 2026 ("FY2026"). All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.

“In fiscal 2026, we reset the business, laid a disciplined foundation, and made deliberate investments, including acquiring MTL Cannabis, that will drive the next phase of growth. We modernized our approach to innovation, and our business structure was optimized around a clear strategy. Looking ahead, the opportunity in front of us is significant. As the leading medical cannabis business in Canada by revenue, we are well positioned to extend that leadership into Europe – a market we believe represents enormous long-term opportunity and one where our brands, products and relentless execution give us a real competitive edge. We enter fiscal 2027 with momentum, clarity, and a team that has proven it can execute.”

Luc Mongeau, Chief Executive Officer

“The significant strengthening of our balance sheet during fiscal 2026 reduces risk while expanding our strategic flexibility. We took meaningful steps to reduce costs and focus resources where they can drive the best returns, and these efforts are starting to be reflected in our financial results. We are confident we have the right strategy and financial model in place to achieve our goal of delivering positive Adjusted EBITDA during fiscal 2027.”

Tom Stewart, Chief Financial Officer

Fourth Quarter FY2026 and FY2026 Financial Highlights

• Consolidated net revenue of $71.2M in Q4 FY2026 increased 10% over the same period in the prior year. Consolidated net revenue in FY2026 was $284.6M, an increase of 6% compared to the fiscal year ended March 31, 2025 ("FY2025").

o Cannabis net revenue was $54.5M in Q4 FY2026 and $213.9M for the full year, an increase of 20% and 15% respectively, versus the prior-year periods.

▪ Canada medical cannabis net revenue in Q4 FY2026 was $25.3M, an increase of 27% versus the three months ended March 31, 2025 ("Q4 FY2025"), driven by growth in the number of insured patients and a larger assortment of cannabis product choices offered to our customers, while full-year Canada medical cannabis net revenue increased 18% over FY2025.

▪ Canada adult-use cannabis net revenue in Q4 FY2026 was $20.6M, an increase of 1% compared to Q4 FY2025 due to strong performance in vapes and infused pre-roll joints ("PRJ"). In FY2026, Canada adult-use cannabis net revenue increased 20% over FY2025 driven by growth in infused PRJ offerings and new All-In-One vaporizers launched early in the fiscal year.

▪ International markets cannabis net revenue of $8.6M in Q4 FY2026 represented 68% growth compared to Q4 FY2025, as the Company addressed supply chain challenges in Europe experienced earlier in the fiscal year. Overall in FY2026, international markets cannabis net revenue decreased 7% compared to FY2025.

o Storz & Bickel net revenue in Q4 FY2026 was $16.8M, a 14% decrease compared to Q4 FY2025. In FY2026, Storz & Bickel net revenue was $70.7M, 14% below FY2025. The decreases in both periods are primarily attributable to lapping strong sales in

- 1

the prior year and continued consumer economic uncertainty, offset by the new VEAZY product, which launched in September 2025.

• Consolidated gross margin in Q4 FY2026 was 12%, compared to 16% in Q4 FY2025. Consolidated gross margin in FY2026 was 24%, compared to 30% in FY2025.

o The Company incurred $10.7 million of inventory charges in Q4 FY2026, primarily resulting from a review of the overall Cannabis segment inventory levels following the acquisition of MTL Cannabis Corp. (“MTL Cannabis”). Excluding the impact of the inventory write-offs and the flow-through of inventory step-up relating to the acquisition of MTL Cannabis, adjusted gross margin1 was 27% in Q4 FY2026, as compared to adjusted gross margin of 19% in Q4 FY2025 (which excludes restructuring costs recorded in cost of goods sold).

o Cannabis gross margin in Q4 FY2026 was 7% compared to 8% in Q4 FY2025, while adjusted gross margin1 for the segment was 26% in Q4 FY2026 compared to 12%

8-K

0001737927false00-000000000017379272026-02-062026-02-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): February 6, 2026

Canopy Growth Corporation (Exact name of registrant as specified in its charter)

Canada

001-38496

N/A

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

1 Hershey Drive Smiths Falls, Ontario

K7A 0A8

(Address of principal executive offices)

(Zip Code)

(855) 558-9333 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Shares, no par value

CGC

NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On February 6, 2026, Canopy Growth Corporation (the “Company”) issued a press release announcing its financial results for its fiscal third quarter ended December 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information set forth in Item 2.02 of this Current Report on Form 8-K (“Current Report”), including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section. The information set forth in Item 2.02 of this Current Report, including Exhibit 99.1 attached hereto, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any incorporation by reference language in any such filing. Item 9.01 Financial Statements and Exhibits. (d) Exhibits.

Exhibit No.

Description

99.1*

Press release dated February 6, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

* Filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

CANOPY GROWTH CORPORATION

Date: February 6, 2026

By:

/s/ Thomas Stewart

Thomas Stewart

Chief Financial Officer