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Canadians using more cannabis positive for Canopy Growth

Published on August 22, 2025 by Pat Bulmer

Photo: Adobe Stock/the oz.

Increased cannabis use by Canadian adults was good for Canopy Growth’s bottom line.

Net revenue for “Canada adult-use cannabis” was up 43% from a year ago to $27 million, the company stated in a quarterly financial report

Increased distribution and strong consumer demand for new products, such as Claybourne infused pre-roll joints, were cited as reasons for the boost.

“We’re gaining share in high-demand categories,” said CEO Luc Mongeau.

Total Claybourne infused pre-roll sales increased 58% from the previous quarter.

The company said it is focused on maintaining momentum in the adult-use cannabis business, with plans to expand retail distribution and continue to push high-demand product segments in 2026.

Several financial categories were in the red, but some are getting better, the Smiths Falls, Ont., company said.

Operating loss from continuing operations was $23 million, an improvement of 21% from the same quarter a year ago. The improvement was driven by a reduction in operating expenses, the company said. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) loss increased to $8 million from $5 million a year ago.

Medical cannabis net revenue in Canada increased 13% compared to a year ago, driven by an increase in the number of insured customers, increased order sizes, and a larger assortment of products available on the Spectrum online store.

International cannabis net revenue was $9 million, up 4% from a year ago, primarily attributable to increased shipments of flower products to Europe, but offset by a decline in the company’s Australian medical cannabis business. Canopy Growth recently announced it is introducing its Canadian-grown 7ACRES brand in Australia.

Supply chain improvements in international markets are expected to increase cannabis supply over the next year, the company said. The company also put a new man in charge of Europe. Miles Worne was recently named managing director of European markets.

Canopy’s Storz & Bickel vapourizers delivered net revenue of $15 million, a decrease of 25% from last year. That was primarily attributable to strong sales in the prior year and consumer economic uncertainty, the company said. Storz & Bickel is preparing to launch a new vaporizer.

Canopy Growth appointed Margaret Shan Atkins to its board of directors. She is a former partner in consumer and retail consulting firm Bain & Company.