Canopy Growth said it expects to report fourth-quarter and fiscal 2026 results on June 15, 2026, and will also file restated results for fiscal 2025 and fiscal 2024, plus certain interim periods, after identifying a technical accounting error tied to share-settled warrants issued in fiscal 2024.
The company said the warrants, denominated in U.S. dollars, should have been recorded as liabilities rather than equity because Canopy’s functional currency is the Canadian dollar. That means the instruments were supposed to be remeasured at fair value each reporting date, with changes flowing through the statement of operations.
Canopy said the correction is expected to be non-cash and limited to a reclassification between equity and liabilities plus related fair-value adjustments. It said the refiling is not expected to change revenue, gross margin, operating income or loss, cash flow from operations, adjusted EBITDA or other non-GAAP metrics, total assets, cash balances, liquidity, debt covenant compliance, or the company’s overall financial-performance trajectory.
Alongside the restatement process, the company said it has applied for a management cease trade order against certain directors and officers while the refiling is completed. It said the order would not generally affect trading by people who are not directors or officers.
Canopy plans to release the restated fiscal 2025 and fiscal 2024 numbers at the same time as its fiscal 2026 results. After that, CEO Luc Mongeau and CFO Tom Stewart are scheduled to discuss the results on a webcast at 10:00 a.m. ET on June 15. As a result of these announcements, the company's shares have moved -2.8% on the market, and are now trading at a price of $1.04. For more information, read the company's full 8-K submission here.
