Quarterly ResultMay 11, 2026, 07:07 AM
Village Farms Q1 Net Income $2.9M vs. $(6.7)M Loss; Sales Up 26.6%
AI Summary
Village Farms International reported a net income of $2.9 million for the first quarter of 2026, a substantial turnaround from a $6.7 million loss in the same period last year. The company's sales increased by 26.6% to $50.2 million, driven primarily by growth in its cannabis segment. Despite the positive income and revenue growth, the company experienced a decrease in cash and cash equivalents and a higher net cash outflow from operating activities compared to the prior year.
Key Highlights
- Net income attributable to Village Farms shareholders was $2.9 million for Q1 2026, a significant improvement from a $6.7 million loss in Q1 2025.
- Sales increased by 26.6% to $50.2 million for Q1 2026, up from $39.7 million in Q1 2025.
- Gross profit rose to $21.0 million in Q1 2026, compared to $14.2 million in Q1 2025.
- The company repurchased $6.4 million in shares during Q1 2026.
- Cash and cash equivalents stood at $50.5 million as of March 31, 2026, down from $81.2 million at December 31, 2025.
- Net cash used in operating activities from continuing operations was $16.8 million in Q1 2026, compared to $3.8 million in Q1 2025.
- Cannabis segment revenue increased to $49.7 million in Q1 2026 from $39.2 million in Q1 2025.
- The FCC Term Loan maturity was extended to February 3, 2031, and the Pure Sunfarms Secured Credit Facility was extended to February 2029 with an additional C$15 million commitment.