Canopy Growth Corp 2026年季度报告

(Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF For the quarterly period ended December 31, 2025 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF Canopy Growth Corporation (Exact name of registrant as specified in its charter) Canada(State or other jurisdiction ofincorporation or organization)1 Hershey DriveSmiths Falls, Ontario(Address of principal executive offices)Registrant’s telephone number, including area code: (855) 558-9333 Securities registered pursuant to Section 12(b) of the Act: Common shares, no par value Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) hasbeen subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and Large accelerated filerNon-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). As of February 5, 2026, there were 377,862,634 common shares of the registrant outstanding and 26,261,474 non-voting and non-participating exchangeable shares of the registrant outstanding which are convertible at any time, at the option of the holder, into common shares Table of Contents PART I.FINANCIAL INFORMATION Item 1.Financial Statements Condensed Interim Consolidated Balance SheetsCondensed Interim Consolidated Statements of Operations and Comprehensive Income (Loss)Condensed Interim Consolidated Statements of Shareholders’ EquityCondensed Interim Consolidated Statements of Cash FlowsNotes to the Condensed Interim Consolidated Financial Statements Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations 30Item 3.Quantitative and Qualitative Disclosures About Market Risk54Item 4.Controls and Procedures56 PART II.OTHER INFORMATIONItem 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSignatures Unless otherwise noted or the context indicates otherwise, references in this Quarterly Report on Form 10-Q (“Quarterly Report”)to the “Company,” “Canopy Growth,” “we,” “us” and “our” refer to Canopy Growth Corporation and its direct and indirect wholly-owned subsidiaries and investments accounted for by the equity method;the term “cannabis” means the plant of any species orsubspecies of genusCannabisand any part of that plant, including all derivatives, extracts, cannabinoids, isomers, acids, salts, and This Quarterly Report contains references to our trademarks and trade names and to trademarks and trade names belonging to otherentities. Solely for convenience, trademarks and trade names referred to in this Quarterly Report may appear without the ® or ™symbols, but such references are not intended to indicate, in any way, that their respective owners will not assert, to the fullest All currency amounts in this Quarterly Report are stated in Canadian dollars, which is our reporting currency, unless otherwisenoted. All references to “dollars” or “CDN$” are to Canadian dollars and all references to “US$” are to U.S. dollars. PART I—FINANCIAL INFORMATION (in thousands of Canadian dollars, except number of shares and per share data, unaudited) CANOPY GROWTH CORPORATIONCONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS CANOPY GROWTH CORPORATIONNOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS 1. DESCRIPTION OF BUSINESS Canopy Growth Corporation is a publicly traded corporation, incorporated in Canada, with its head office located at 1Hershey Drive, Smiths Falls, Ontario. References herein to “Canopy Growth” or “the Company” refer to Canopy Growth The principal activities of the Company are the production, distribution and sale of a diverse range of cannabis andcannabinoid-based products for both adult-use and medical purposes under a portfolio of distinct brands in Cana