Every 10-Q that Canopy Growth Corporation (CGC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CGC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CGC filings page.
Canopy Growth Corporation reported first‑quarter fiscal 2027 net revenue of $81,165 versus $72,134 a year earlier (amounts in thousands of Canadian dollars). Gross margin rose to $22,238, and the net loss narrowed to $14,579 (loss per share $0.03) from $44,861.
Results included a $16,208 fair value gain on Canopy USA related assets, partly offset by $12,677 of interest expense. Cannabis generated net revenue of $65,085, while Storz & Bickel contributed $16,080.
Cash and cash equivalents were $336,625 against total debt principal of $285,365, while operating activities used $25,011 in cash. The company holds Canopy USA loans receivable at fair value of $64,636 and Acreage and Wana Debt, with Acreage in default and operating under forbearance agreements.
Canopy Growth Corporation reports results for the quarter ended December 31, 2025, showing continued losses but a stronger balance sheet.
Revenue reached C$90.4M, with net revenue of C$74.5M, slightly below the prior year. The company recorded a net loss of C$62.6M, an improvement from C$121.9M a year earlier, and a basic and diluted loss per share of C$(0.18).
For the nine months, net revenue rose to C$213.4M while net loss narrowed to C$105.8M from C$377.3M. Operating cash outflow was C$45.6M, more than offset by C$285.8M of financing inflows, mainly equity issuances, lifting cash and cash equivalents to C$371.3M at period end.
Total assets increased to C$1.11B and long‑term debt declined to C$225.0M. Shareholders’ equity rose to C$758.2M, despite an accumulated deficit of C$11.0B, reflecting sizable past losses and recent capital raises.
Canopy Growth Corporation reported improved quarterly results for the three months ended September 30, 2025. Revenue was CDN$82.998M and net revenue was CDN$66.683M, up from CDN$62.991M a year ago. Gross margin was CDN$21.905M, and the operating loss narrowed to CDN$16.894M from CDN$45.943M. Other income was CDN$15.469M versus an expense last year, resulting in a small net loss from continuing operations of CDN$1.639M, or CDN$0.01 per share, compared with a loss of CDN$1.52 per share a year earlier.
Liquidity strengthened: cash and cash equivalents rose to CDN$298.058M from CDN$113.811M at March 31, 2025, and long‑term debt decreased to CDN$226.333M from CDN$299.811M. Total shareholders’ equity increased to CDN$736.013M. Management states that, given cash on hand, a current portion of long‑term debt of CDN$1.847M, financing actions, and projected cash flows, the company has sufficient liquidity, resolving conditions that previously raised substantial doubt about continuing as a going concern. As of November 6, 2025, there were 342,195,956 common shares outstanding, plus 26,261,474 exchangeable shares convertible one‑for‑one into common shares.
CGC Q1 FY26 (quarter ended 30 Jun 2025) highlights:
- Net revenue rose 9% YoY to CA$72.1 m (CA$66.2 m LY) as adult-use, medical and accessories sales grew.
- Gross margin fell to 25% (CA$18.0 m) from 35% (CA$23.0 m) on higher COGS and CA$1.9 m inventory write-downs.
- Operating loss narrowed to CA$22.6 m vs. CA$29.1 m; net loss improved sharply to CA$41.5 m (CA$129.2 m LY) as prior-year period contained CA$93.9 m fair-value and debt-settlement charges.
- Cash burn: operating cash outflow cut to CA$10.3 m (CA$51.8 m). FCF benefited from lower restructuring and working-capital release.
- Liquidity: cash & equivalents up to CA$126.2 m (CA$113.8 m at Mar-25) aided by CA$38.3 m raised under Feb-25 ATM program. Short-term investments CA$17.4 m.
- Leverage: total debt reduced to CA$295.3 m (CA$304.1 m), with current portion CA$6.3 m. Credit-facility balance shrank after ongoing discounted repurchases.
- Equity: book value CA$489.0 m; accumulated deficit widened to CA$10.97 bn.
- Canopy USA deconsolidated (effective Apr-24) creating CA$5.0 m gain and recognition of equity-method investments and CA$142.4 m Elevate loan receivable.
- Management states substantial-doubt concerns are "alleviated" via equity raises, debt pay-downs and ongoing cost actions, but continues to evaluate further financing.
Per-share: basic loss CA$0.22 vs CA$1.60 as share count rose to 188.3 m (79.2 m LY) due to ATM and acquisition-related issuances.