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A major Canadian cannabis producer reported on 31 October 2026 a 13% rise in first-quarter fiscal 2027 net revenue, to C$81.2 million. Analysts surveyed by MarketBeat still rate the stock a hold, with an average 12-month target price.
Key points
- Net revenue reached C.2 million, up 13% year on year, with every division growing.
- Adjusted gross margin rose to 31%, and the adjusted EBITDA loss fell 59% to C.2 million.
- Eight analyst firms rate the stock hold on average, with a 12-month target price of €1.07.
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Canopy Growth, based in Smiths Falls, Ontario, published its first-quarter results for fiscal 2027 on 31 October 2026. Net revenue came to C$81.2 million, up 13% on the previous year, according to the TradingView summary of the earnings call.
It is the first quarter under CEO Luc Mongeau in which every business line grew year on year. He has led the company since January 2025.
Medical and adult-use both advance
Canadian medical cannabis revenue rose 22% to C$25.8 million. Canadian adult-use revenue gained 10% to C$29.7 million.
International cannabis revenue grew 10%, a third straight quarter of sequential growth. The company ranks sixth in the Canadian market, up from eighth, and is now among the top three suppliers in Poland.
Margins improve, losses narrow
Adjusted consolidated gross margin reached 31%, against 25% a year earlier. The cannabis segment’s adjusted gross margin stands at 26%.
- Storz & Bickel revenue: C$16.1 million, up 6%
- Storz & Bickel gross margin: 48%, versus 29% a year before
- Adjusted EBITDA loss: C$3.2 million, down 59%
Management repeats that it expects positive adjusted EBITDA during fiscal 2027. Cash stood at C$337 million on 30 June, while operating activities used C$25 million in the quarter.
Analysts keep a hold rating
Eight analyst firms give the stock a consensus hold, with two buy ratings, six holds and no sell, reports TradingView. The average analyst target price is €1.07 over 12 months, implying upside of 83.4% from the price on 31 October 2026.
The consensus expects higher revenue and smaller net losses.
UK shipments and MTL integration
The company expects to start shipping flower to the United Kingdom soon. Revenue from it is expected in the second half of fiscal 2027, though the exact timing is not specified.
The March 2026 acquisition of MTL Cannabis is being integrated. Synergies under way are C$8 million, up from C$6 million last quarter, toward a C$10 million target within 18 months of closing.
The CFO, Tom Stewart, said the company is working to offset reimbursement changes. Measures include merging customer service with MTL, renegotiating supplier prices and offering larger formats. He added that the medium-term margin target is around 30%, with a longer-term aim nearer 50%.
Ce que ça change pour toi
This is a Canadian corporate result, with no direct effect on rules or products sold in Europe. Still, the company’s push into Europe, including Poland, Germany and the UK, could point to more medical cannabis supply on the continent.
If you follow the sector, forecasts remain uncertain: exchange rates, tariffs and integration risks could affect margins. For hemp-derived options sold in Europe, you can browse the CBD flower collection or the full product range.
FAQ
What is the average analyst target price?
Eight analyst firms put the average 12-month target price at €1.07, according to TradingView. The consensus rating is hold: two buy, six hold, no sell.
How much did revenue grow in the quarter?
Net revenue for the first quarter of fiscal 2027 was C$81.2 million, up 13% year on year. All business lines grew.
When does the company expect positive adjusted EBITDA?
Management says it expects positive adjusted EBITDA during fiscal 2027. This still has to be confirmed by later quarterly results.
Sources
- Börse Express — Canopy Growth Aktie Prognose 2026 & Kursziel von Analysten
- TradingView — Canopy Growth Q1 Earnings Call Highlights
