Canopy Growth Corp

Canopy Growth Corporation announced its financial results for the fourth quarter and fiscal year ended March 31, 2026. The company reported a 10% year-over-year increase in consolidated net revenue for Q4 FY2026 to $71.2 million, and a 6% increase for the full fiscal year to $284.6 million. Growth was driven by strong performance in Canada medical cannabis and adult-use cannabis segments, with international markets also showing significant Q4 growth. However, Storz & Bickel revenue declined, and consolidated gross margin decreased, though adjusted gross margin improved. The company also highlighted the completion of the MTL Cannabis acquisition and ended the year with $131.3 million in net cash following a strategic recapitalization.

Canopy Growth Corporation's Board of Directors approved By-Law No. 2 Advance Notice By-Law on May 26, 2026, which became effective immediately. This by-law establishes a formal and transparent framework for shareholders to nominate directors for election at annual or special meetings. The company expects to submit the By-Law for shareholder confirmation at its next annual general meeting, anticipated in September 2026. The By-Law sets clear deadlines and detailed disclosure requirements for nominations.

Canopy Growth Corporation announced that its previously issued financial statements for fiscal years ended March 31, 2024 and 2025, and eight interim quarterly periods, should no longer be relied upon. This is due to a non-cash technical accounting error where certain share-settled warrants were incorrectly classified as equity instead of liabilities. The company plans to restate these financials in its Annual Report on Form 10-K for the fiscal year ended March 31, 2026, expected to be filed on June 15, 2026. The restatement is not expected to impact revenue, gross margin, operating income/loss, cash flows, or liquidity, but management anticipates reporting a material weakness in internal control over financial reporting.