In our latest Trade To Black podcast presented by Flowhub, Anthony Varrell sits down with Luc Mongeau, CEO of Canopy Growth (TSX: WEED) (Nasdaq: CGC), following the company’s fiscal Q4 and full-year 2026 earnings release this morning. Anthony also covers Vireo Growth’s latest acquisition — a definitive agreement to acquire C21 Investments (CSE: CXXI), adding approximately 15 Nevada dispensaries and C21’s award-winning Silver State Relief brand to Vireo’s rapidly expanding empire.
Vireo Growth announced a definitive agreement to acquire C21 Investments, adding approximately 15 Nevada dispensaries to its expanding footprint, and Jason Purnell had been confirmed as the head of the deconsolidated Trulieve harvest vehicle — the mixed-use adult and medical assets set aside to satisfy NYSE uplisting requirements, with the expectation they will reconsolidate back into Trulieve once conditions allow.
Canopy Growth’s CEO Luc Mongeau, marks roughly one year since he took the helm. Canadian medical revenue was a highlight of the quarter, growing 27 percent in Q4 and 18 percent for the full fiscal year, driven by strong patient service, fast order fulfillment, and a growing patient base. Mongeau acknowledged headwinds from changes to Veterans Affairs Canada reimbursement levels but said the company remains committed to that patient community. On the balance sheet, he described fiscal 2026 as a reset year — the company recapitalized, reduced debt, pushed maturities to 2031, and entered fiscal 2027 from a position of much greater financial stability.
Canopy’s European business also rebounded sharply, posting 68 percent growth in Q4 after Mongeau spent the year re-engineering the supply chain to consistently meet EU-GMP flour specifications. The company reclaimed the number three position in Poland and is entering the UK market in the current fiscal year, with Australia also being restarted. On the Storz & Bickel vaporizer segment, which was down 14 percent for the full year, Mongeau pointed to tariff headwinds and SKU overlap as contributing factors.
This and more when you tune in.
