Filing Flows › Canopy Growth (CGC) › Q3 FY26
Canopy Growth (CGC) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Feb 6, 2026
Canopy Growth (CGC) reported revenue of $90.4M for the third quarter fiscal 2026 (Q3 FY26), +5% from a year earlier and +9% from the quarter before. Operating margin was -29.2%, net loss $62.6M (69.3% of revenue).
Canopy Growth, Q3 FY26: revenue $90.4M (+5% year over year), operating margin -29.2%, net loss $62.6M, operating cash flow −$17.2M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $90.4M | +9% | +5% |
| Operating profit | −$26.4M | — | — |
| Net earnings | −$62.6M | — | — |
| Operating cash flow | −$17.2M | — | — |
What changed
Revenue was C$90.4M in Q3 FY26, up 5% year over year and up 9% from the previous quarter. Cannabis Net Revenue was the largest line at 57% of revenue. Cannabis Net Revenue added C$1.9M year over year (up 4%), 47% of the total change. Storz and Bickel declined 9%.
Gross margin was 23.7%, down 4.2 points from a year earlier. Operating costs exceeded revenue by C$26.4M, an operating margin of -29.2%. Operating expenses fell 0% while revenue rose 5%. The quarter ended with a net loss of C$62.6M, wider than the previous quarter's C$1.6M loss. Net interest and other expense of C$35.9M was the main reason.
Operating cash flow was −C$17.2M. Non-cash charges added back C$8.9M of depreciation and amortization and C$888K of share-based compensation. Working capital and other items added C$35.6M. Capital expenditures of C$1.8M exceeded it, leaving free cash flow of −C$19.0M.
Questions
What was Canopy Growth's revenue in the third quarter fiscal 2026?
Canopy Growth (CGC) reported revenue of $90.4M for the third quarter fiscal 2026 (Q3 FY26), +5% from a year earlier and +9% from the quarter before.
Was Canopy Growth profitable in the third quarter fiscal 2026?
Operating loss was $26.4M (-29.2% of revenue) and net loss $62.6M.
Source: Canopy Growth 10-Q on SEC EDGAR.