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Village Farms International (VFF) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · Village Farms International (VFF) Q2 2026 earnings results →
Q2 2026 Revenue up 7% year over year to $64.0M · 11¢ of every $1 of revenue kept as net profit · operating margin 17.4%
Village Farms International made $64.0M in Q2 2026 (+7% Y/Y): Cannabis Business $53.5M, Produce Business $10.2M, Energy Business $269K. Operating margin 17.4%, net earnings $7.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $64.0M in Q2 2026, up 7% year over year and up 27% from the previous quarter. Cannabis Business was the largest line at 84% of revenue. Cannabis Business added $2.7M year over year (up 5%), 66% of the total change. Energy Business declined 44%.
Gross margin was 46.8%, up 9.6 points from Q2 2025. Operating profit was $11.2M, a 17.4% margin (up 5.9 points year over year). Of the extra revenue versus Q2 2025, 104% reached operating profit, above the 12% margin then. Operating expenses grew 22% against revenue growth of 7%. Net earnings were $7.1M, down 73% year over year. The effective tax rate was 31.2%.
Operating cash flow was $8.9M (down 66% year over year), 123% of net earnings. Non-cash charges added back $4.3M of depreciation and amortization and $293K of share-based compensation. Working capital and other items used $2.9M. Capital expenditures of $6.2M left free cash flow of $2.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 10, 2026 | $64.0M | +7% | 17.4% | $7.1M | $8.9M |
| Q1 2026 | 10-Q | May 11, 2026 | $50.2M | +27% | 10.0% | $2.9M | −$16.8M |
| Q4 2025 | 10-K | Mar 12, 2026 | $49.6M | +9% | 9.3% | $2.4M | $11.4M |
| Q3 2025 | 10-Q | Nov 10, 2025 | $66.7M | +22% | 22.9% | $10.2M | $24.4M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $59.9M | +12% | 11.6% | $26.5M | $26.0M |
| Q1 2025 | 10-Q | May 12, 2025 | $77.1M | -1% | -0.6% | −$7.1M | −$6.4M |
| Q4 2024 | 10-K | Mar 13, 2025 | $82.6M | +11% | -13.3% | −$8.7M | $412K |
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About Village Farms International
Village Farms is a global leader in cannabis, plant-based consumer packaged goods, and sustainable innovation. With a legacy built on decades of Controlled Environment Agriculture expertise and Dutch farming practices, today the Company is one of the world’s largest and most profitable cannabis operators with an asset portfolio that spans over 7 million square feet of advanced greenhouse and indoor cultivation assets. In Canada, Village Farms operates the world’s largest EU-GMP certified cannabis facility at its production campus in Delta, British Columbia, and exports products to international medical markets. The Company is also a market share leader in dried flower formats and produces and distributes some of the country’s highest quality and best-selling strains, including its flagship Pure Sunfarms Pink Kush, one of the most widely consumed strains on the planet.
In its own words, from its 8-K, filed Aug 10, 2026.
Village Farms International against its Agricultural Production-Crops peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +7% against the peers' median +5%. Operating margin: 17.4% against the peers' median 5.6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| VFF Village Farms International | Q2 2026 | $64.0M | +7% | 17.4% |
| CTVA Corteva | Q2 2026 | $6.4B | -1% | 24.7% |
| DOLE Dole | Q2 2026 | $2.5B | +3% | 1.9% |
| DMC Del Monte | Q3 2026 | $1.1B | +7% | 2.7% |
| GTBIF Green Thumb Industries | Q3 2026 | $324M | +11% | 7.7% |
| VRNO Verano Holdings | Q3 2026 | $212M | +5% | 5.6% |
| TSNDF TerrAscend | Q3 2026 | $68.2M | +5% | 15.1% |
| LMNR Limoneira | Q3 FY26 | $43.8M | -8% | -6.8% |
| ITHUF iANTHUS Capital Holdings | Q2 2026 | $35.3M | +0.5% | -6.4% |
Source: Village Farms International 10-Q on SEC EDGAR · CIK 1584549 · Agricultural Production-Crops
13F: who owns VFF and who is buying
More on VFF
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History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results