Filing Flows › Canopy Growth (CGC) › Q1 FY27
Canopy Growth (CGC) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Aug 7, 2026
Canopy Growth (CGC) reported revenue of $100M for the first quarter fiscal 2027 (Q1 FY27), +13% from a year earlier and +19% from the quarter before. Operating margin was -22.0%, net loss $14.6M (14.5% of revenue).
Canopy Growth, Q1 FY27: revenue $100M (+13% year over year), operating margin -22.0%, net loss $14.6M, operating cash flow −$25.0M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $100M | +19% | +13% |
| Operating profit | −$22.1M | — | — |
| Net earnings | −$14.6M | — | — |
| Operating cash flow | −$25.0M | — | — |
What changed
Revenue was C$100.4M in Q1 FY27, up 13% year over year and up 19% from the previous quarter. Cannabis Net Revenue was the largest line at 65% of revenue. Cannabis Net Revenue added C$8.1M year over year (up 14%), 70% of the total change.
Gross margin was 22.2%, up 1.8 points from Q1 FY26. Operating costs exceeded revenue by C$22.1M, an operating margin of -22.0%. Operating expenses grew 9% against revenue growth of 13%. The fastest-growing cost line was Other operating costs (+62%). The quarter ended with a net loss of C$14.6M, narrower than the previous quarter's C$154.7M loss. Non-operating items added C$7.4M, -50% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −C$25.0M. Non-cash charges added back C$10.0M of depreciation and amortization and C$1.4M of share-based compensation. Working capital and other items used C$21.8M. Capital expenditures of C$737K exceeded it, leaving free cash flow of −C$25.7M.
Questions
What was Canopy Growth's revenue in the first quarter fiscal 2027?
Canopy Growth (CGC) reported revenue of $100M for the first quarter fiscal 2027 (Q1 FY27), +13% from a year earlier and +19% from the quarter before.
Was Canopy Growth profitable in the first quarter fiscal 2027?
Operating loss was $22.1M (-22.0% of revenue) and net loss $14.6M.
Source: Canopy Growth 10-Q on SEC EDGAR.