Filing Flows › Village Farms International (VFF) › Q3 2026 › vs Q2 2026
Village Farms International (VFF) Q3 2026 vs Q2 2026 (quarter over quarter)
Village Farms International's revenue rose $2.9M (+5%) from $64.0M in Q2 2026 to $66.9M in Q3 2026. The biggest changes: Cannabis Business +$1.5M (+3%); Produce Business +$1.1M (+11%); Energy Business +$364K (+135%). Gross margin 43.8% against 46.8% (-3.0 pts).
Village Farms International, Q3 2026: revenue $66.9M (+0.2% year over year), operating margin 19.7%, net earnings $10.0M, operating cash flow $9.5M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 43.8% | 46.8% | -3.0 pts |
| Operating margin | 19.7% | 17.4% | +2.3 pts |
| Net margin | 14.9% | 11.2% | +3.7 pts |
| Free cash flow margin | 11.4% | 4.1% | +7.3 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Cannabis Business | $55.0M | $53.5M | $1.5M | +3% |
| Produce Business | $11.3M | $10.2M | $1.1M | +11% |
| Energy Business | $633K | $269K | $364K | +135% |
| Revenue | $66.9M | $64.0M | $2.9M | +5% |
| Gross profit | $29.3M | $30.0M | −$648K | -2% |
| Cost of revenue | $37.6M | $34.0M | $3.6M | +11% |
| Operating profit | $13.2M | $11.2M | $2.0M | +18% |
| Operating expenses | $16.1M | $18.8M | −$2.7M | -14% |
| Pre-tax earnings | $13.1M | $10.5M | $2.7M | +25% |
| Loss borne by minority interests | $25K | −$48K | $73K | — |
| Net earnings | $10.0M | $7.1M | $2.8M | +40% |
| Income tax | $3.2M | $3.3M | −$85K | -3% |
| Depreciation & amortization | $4.6M | $4.3M | $272K | +6% |
| Share-based compensation | $457K | $293K | $164K | +56% |
| Working capital & other | $5.5M | $2.8M | $2.7M | +94% |
| Operating cash flow | $9.5M | $8.9M | $600K | +7% |
| Free cash flow (OCF − capex) | $7.6M | $2.6M | $5.0M | +188% |
| Capital expenditures | $1.9M | $6.2M | −$4.4M | -70% |
Questions
How much did Village Farms International's revenue grow quarter over quarter in Q3 2026?
Village Farms International's revenue rose $2.9M (+5%) from $64.0M in Q2 2026 to $66.9M in Q3 2026.
What drove Village Farms International's revenue change in Q3 2026?
Cannabis Business +$1.5M (+3%); Produce Business +$1.1M (+11%); Energy Business +$364K (+135%).