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Cannara Biotech
Cannara Biotech (LOVE) investor relations material
Cannara Biotech Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary26 Jan, 2026
Executive summary
Achieved record Q1 2026 results with 19 consecutive quarters of positive Adjusted EBITDA and 13 quarters of positive operating cash flow, driven by premium quality at scale and disruptive pricing.
Became the number one licensed producer in Quebec and number seven in Canada by sales, with flagship brands leading in multiple categories.
National retail market share reached 4.1% in Q1 2026, with Quebec leading at 13.5% and continued growth in Ontario.
Operating at 50,000 kg annual production, with plans to double capacity through a CAD 30 million CapEx plan over three years.
Expansion strategy includes Valleyfield's new processing center on track for completion in fiscal 2026 and preparation of three additional grow zones for fiscal 2027.
Financial highlights
Gross revenues reached CAD 42.8 million, up 20% year-over-year and 7% sequentially.
Net revenue was CAD 30.1 million, up 20% year-over-year and 6% quarter-over-quarter.
Gross profit before fair value adjustments was CAD 13.5 million, up 38% year-over-year and 14% quarter-over-quarter, with a record-high 45% gross margin.
Adjusted EBITDA was CAD 8.8 million, up 47% year-over-year and 19% quarter-over-quarter, representing a 29% margin.
Net income was CAD 1 million, down year-over-year due to non-cash fair value adjustments and share-based compensation.
Operating cash flow was CAD 8 million, up 36% year-over-year and nearly tripling quarter-over-quarter.
Free cash flow was CAD 3.3 million, up quarter-over-quarter but down year-over-year due to growth CapEx.
Ended Q1 with CAD 16.5 million in cash and CAD 53.5 million in working capital.
Outlook and guidance
Plans to double production capacity to 100,000 kg annually through Valleyfield expansion, with phase one of post-processing expected to complete by end of fiscal 2026.
Three additional grow zones to be cultivation-ready for fiscal 2027 to support anticipated demand.
Targeting a sustained gross margin of 45%, with potential to reach 50% as efficiencies improve.
Confident in demand signals and will scale production in line with market needs, monitoring internal and external indicators closely.
Address provincial market share variances
Valleyfield processing center and grow zones impact?
Impact of fair value adjustments on net income?
What unlocks full Valleyfield cultivation capacity?
How does Cannara sustain Quebec vape leadership?
What drives gross margin expansion to 45% target?
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Latest summaries
- TimeTickerHeadlineOpen
- 5 FebHSY
2025 sales rose but profits fell; 2026 targets margin and EPS recovery with strong growth. - 5 FebENS
Q3 adjusted EPS ex-45X up 50%, sales up 1%, with strong cash flow and margin gains. - 5 FebOMF
Net income, EPS, and receivables rose, with strong capital generation and stable credit metrics. - 5 FebLICI
Premiums and profits rose, with improved VNB margin and digital expansion driving growth. - 5 FebBYRN
Record revenue, margin gains, and new products set up strong growth for 2026. - 5 FebBSANTANDER
Net income up 23% YoY, ROE/ROAE 23.5%, efficiency 36%, with strong digital and fee growth. - 5 FebFMC
2025 losses deepen on price pressure and impairment; 2026 outlook remains cautious amid strategic review. - 5 FebCCK
Record adjusted EBITDA, strong free cash flow, and improved leverage highlight 2025 results. - 5 FebEG
2025 net income was $1.6B, with record investment income and robust capital returns. - 5 FebROK
Double-digit sales and EPS growth drive raised 2026 guidance and strong segment performance.
Next Cannara Biotech earnings date
Q2 202628 Apr, 2026
Cannara Biotech
Next Cannara Biotech earnings date
Q2 202628 Apr, 2026
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Frequently asked questions
Cannara Biotech Inc. is a Canadian vertically integrated producer of premium-grade cannabis and cannabis-derivative products targeted at the Quebec and Canadian markets. The company is known for its large-scale operations, owning two mega facilities based in Quebec. The company's business model focuses on leveraging its extensive cultivation and processing capabilities to provide a wide range of cannabis products. Cannara Biotech operates in two main segments: Cannabis operations and Real estate operations. The company is headquartered in Saint-Laurent, Canada, and its shares are listed on the TSX.
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