Filing Flows › Village Farms International (VFF) › Q1 2026
Village Farms International (VFF) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
Village Farms International (VFF) reported revenue of $50.2M for the first quarter 2026 (Q1 2026), +27% from a year earlier and +1% from the quarter before. Operating margin was 10.0%, net earnings $2.9M (5.8% of revenue).
Village Farms International, Q1 2026: revenue $50.2M (+27% year over year), operating margin 10.0%, net earnings $2.9M, operating cash flow −$16.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $50.2M | +1% | +27% |
| Gross profit | $21.0M | +9% | +48% |
| Operating profit | $5.0M | +9% | — |
| Net earnings | $2.9M | +20% | — |
| Operating cash flow | −$16.8M | -247% | — |
What changed
Revenue was $50.2M in Q1 2026, up 27% year over year and up 1% from the previous quarter. Cannabis Business was the largest line at 99% of revenue. Cannabis Business added $10.5M year over year (up 27%), 100% of the total change. Energy Business declined 9%.
Gross margin was 41.8%, up 6.0 points from Q1 2025. Operating profit was $5.0M, a 10.0% margin (up 11.1 points year over year). Operating expenses grew 9% against revenue growth of 27%. Net earnings were $2.9M ($2.7M including minority interests, which bore $188K of losses). The effective tax rate was 37.9%.
Operating cash flow was −$16.8M. Non-cash charges added back $4.3M of depreciation and amortization and $376K of share-based compensation. Working capital and other items used $24.2M. Capital expenditures of $9.2M exceeded it, leaving free cash flow of −$26.0M.
Questions
What was Village Farms International's revenue in the first quarter 2026?
Village Farms International (VFF) reported revenue of $50.2M for the first quarter 2026 (Q1 2026), +27% from a year earlier and +1% from the quarter before.
Was Village Farms International profitable in the first quarter 2026?
Operating profit was $5.0M (10.0% of revenue) and net earnings $2.9M.