Canopy Growth Corporation (CGC)

In August 2025, Canopy Growth reported its first-quarter fiscal year 2026 earnings, with revenues exceeding analyst expectations while EPS lagged. In September 2025, Tom Stewart was appointed as Chief Financial Officer. In November 2025, Canopy Growth announced its Q2 Fiscal Year 2026 results, showing improved financial performance, including a 6% year-over-year increase in consolidated net revenue and a narrowed Adjusted EBITDA loss, leading Benchmark to revise its outlook from "Sell" to "Hold," and expanded its Spectrum Therapeutics portfolio in Australia with new softgels. In December 2025, Canopy Growth launched Claybourne Gassers Liquid Diamonds All-In-One Vapes in Canada; reports suggesting the U.S. administration was considering reclassifying cannabis as a Schedule III drug caused a significant surge in cannabis stocks, with CGC jumping over 53%; and the company announced a definitive agreement to acquire MTL Cannabis Corp. for approximately C$125 million. In February 2026, Canopy Growth reported its third-quarter fiscal 2026 financial results, posting an EPS loss of CAD 0.18, missing the forecast, but revenue of CAD 74.54 million surpassed forecasts, with consolidated net revenue flat year-over-year at $75 million, cannabis net revenue increased by 4%, the net loss narrowed by 49% year-over-year, and the Adjusted EBITDA loss narrowed by 17% to $3 million.

Canopy Growth experiences demand seasonality for some of its products, with Storz & Bickel vaporization devices benefiting from traditionally strong seasonal sales around Black Friday and other holiday demand periods. Improved product supply into international markets has led to sequential growth and a better ability to meet demand.

Canopy Growth Corporation is a Canadian cannabis company involved in the production, distribution, and sale of cannabis, hemp, and related products for medical and recreational markets. The company cultivates and sells medicinal and recreational cannabis and hemp, offering a diverse product portfolio including dried flower, pre-rolls, extracts, concentrates, beverages, vapes, and edibles. Key brands include Tweed, 7ACRES, Deep Space, Spectrum Therapeutics, Storz & Bickel, Wana, Claybourne, Doja, Ace Valley, Quatreau, First + Free, Surity Pro, Vert, Tokyo Smoke, Twd, Martha Stewart CBD, DNA Genetics, BioSteel, This Works, HiWay, Simple Stash, Whisl, and Truverra. Canopy Growth also offers non-THC products such as skincare under Martha Stewart CBD and Storz & Bickel vaporizers.

Canopy Growth's principal operations are in Canada, Europe, and Australia. The company has a presence in Canada, Germany, Australia, and the United States (through its unconsolidated, non-controlling interest in Canopy USA, LLC). Historically, it has also been involved in business in Jamaica, Chile, Peru, Brazil, the Czech Republic, and the UK.

Canopy Growth's brand reputation has been closely tied to its financial performance and strategic moves within the volatile cannabis industry. The company has shown signs of financial improvement through debt reduction, cost-cutting initiatives, and a focus on higher-margin medical cannabis products, but continues to grapple with profitability challenges. The acquisition of MTL Cannabis Corp. is expected to strengthen its position in the Canadian medical cannabis market, and the potential reclassification of cannabis in the U.S. has generated significant investor excitement across the sector. However, some analyses have described Canopy Growth as a "disaster of an investment" due to aggressive expansion efforts, share dilution, and industry headwinds, and the company's stock has underperformed the US Pharmaceuticals industry and the US Market over the past year.

Canopy Growth Corporation has 228 institutional owners and shareholders holding a total of 42,778,557 shares, with major institutional shareholders including Amplify ETF Trust - Amplify Alternative Harvest ETF, Toroso Investments, LLC, Susquehanna International Group, Llp, Citadel Advisors Llc, Millennium Management Llc, and Northwestern Mutual Wealth Management Co. As of February 4, 2026, institutions hold 8.52% of the common stock, while individuals/insiders hold 0.06%, and the public and other entities hold 91.42%. Insider transactions in the past year show both purchases and sales by executives and directors.