Canopy Growth’s FY2026 Revenue Climbs as High Tide Adds Four Ontario Stores

Key takeaways

• 
  Canopy Growth posted Q4 FY2026 net revenue of C$71.2 million, up
  10% year over year, with full-year revenue of C$284.6 million,
  up 6%.

• 
  Canopy’s Q4 international cannabis revenue rose 68% to C$8.6
  million and Canada medical revenue rose 27% to C$25.3 million.

• 
  Canopy ended fiscal 2026 with C$131.3 million net cash and said
  it expects positive Adjusted EBITDA during FY2027.

• 
  High Tide agreed to buy four Ontario stores for C$7.74 million,
  lifting its count to 228 Canna Cabana locations in Canada and
  103 in Ontario.

Canopy Growth: medical and international lead a narrower-loss year

Canopy Growth (TSX: WEED, Nasdaq: CGC) said Q4 FY2026 consolidated
net revenue was C$71.2 million, up 10% year over year, while
full-year revenue was C$284.6 million, up 6%. In the quarter, Canada
medical cannabis revenue rose 27% to C$25.3 million and
international markets cannabis revenue rose 68% to C$8.6 million.
Canopy said it ended fiscal 2026 with a C$131.3 million net cash
position after its January recapitalization, and that full-year net
loss from continuing operations narrowed 49% year over year.
Management said it expects to reach positive Adjusted EBITDA during
FY2027. In the latest available quote feed, CGC traded at $1.03, up
$0.03 from the prior close.

Canopy’s higher-margin medical and international lines growing 27%
and 68% matter more to the turnaround case than the modest 6%
full-year top line.

High Tide: Ontario retail consolidation at a disclosed multiple

High Tide (Nasdaq: HITI, TSXV: HITI) said it signed a definitive
agreement to acquire 100% of Northern Helm’s equity interests tied
to four Ontario cannabis stores for C$7.74 million, a price it said
equals 4.5 times the stores’ annualized Adjusted EBITDA for the
three months ended March 31, 2026. The consideration includes about
C$3.2 million in assumed debt, roughly C$1.83 million in cash, and
about C$2.75 million in High Tide shares. The company said the deal
would lift its total to 228 Canna Cabana locations in Canada and 103
in Ontario, with closing expected in the coming weeks subject to
TSXV and AGCO approvals. The latest available quote feed showed HITI
at $2.345, up $0.035 from the prior close.

Disclosing a 4.5x EBITDA multiple on the acquired stores is a
discipline signal in a sector long criticized for overpaying on
acquisitions.

Canopy expects positive Adjusted EBITDA during fiscal
2027.
That is a company expectation rather than a confirmed result, and
Adjusted EBITDA is not the same as net profit.

High Tide’s Ontario acquisition still needs regulatory
sign-off.
The four-store deal is subject to TSXV and AGCO approvals, with
closing expected in the coming weeks.

Both cannabis updates landed against the day’s
broader risk-on backdrop.

Disclosure

All share prices referenced are intraday, captured at the timestamps
in the source market data, and are not closing prices. This article
is editorial market commentary and interpretation, not investment
advice. Price targets, forecasts, and company guidance are
attributed to their named sources.

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