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Village Farms International Reports Q3 2026 Results Driven by Record Cannabis Revenues

VFF
  • Consolidated net sales reached $67 million in Q3 2026, driven by a record $55 million in cannabis sales.
  • Net income was $10 million ($0.08 per share), marking the sixth consecutive quarter of positive earnings.
  • Operating cash flow totaled $9.5 million, while adjusted EBITDA from continuing operations was $18.2 million (27% of sales).
  • International exports increased 75% year-over-year to $20.8 million, matching the previous quarter's record.
  • The company closed the quarter with $80 million in cash, maintaining a net cash position of $41 million.
  • Cannabis gross margin declined to 48% from 55% in the prior year due to a softer spot trim market in Canada.
  • Management anticipates Canadian wholesale trim pricing and volumes to normalize in Q4 2026 based on new supply agreements.
  • The Phase II Netherlands facility is fully planted and expected to contribute to sales growth starting in Q4 2026.
  • The Delta 2 expansion in British Columbia is on track to reach full production capacity of 40 metric tonnes by mid-2027.
  • The company began mobilizing efforts to operationalize a 30-acre greenhouse in Monahans, Texas, for future U.S. market entry.
  • Village Farms exercised rights to convert 16 acres of its Delta 1 greenhouse from hemp to cannabis production in 2027.
  • Hamid Shekarchi was appointed Interim CFO on September 10, 2026, while Stephen Ruffini assumed the role of Head of Mergers & Acquisitions.
  • Deepak Anand was appointed Vice President of Government Affairs on September 14, 2026, to lead global regulatory strategies.
  • The company maintained a top-five market share position in Canada, with its Super Toast brand achieving national distribution.
  • The Balanced Health Botanicals subsidiary is awaiting regulatory clarity on the December 11, 2026, federal hemp ban to assess participation in the Medicare CMMI pilot.
  • Total net sales for the nine months ended September 30, 2026, increased 10% to $181 million compared to the prior year period.
Company
Village Farms International, Inc.
Keywords
Nasdaq:VFF, Village Farms International, Inc.