Earnings Releases·Nov 9, 2026, 7:05 AM ET

Village Farms International — Q3 2026 Earnings Summary

Consolidated net sales rose to $66.9 million (cannabis sales up 3% YoY to $55.0 million), while net income declined to $9.97 million ($0.08/share) from $10.22 million ($0.09/share) in the prior year period; adjusted EBITDA fell to $18.2 million (27% of sales) from $20.7 million (31% of sales).
Cannabis gross margin contracted to 48% from 55% in the prior year due to a softer spot trim market in Canada, though international export sales grew 75% YoY to $20.8 million.
Management expects Canadian wholesale trim volumes and pricing to normalize in Q4 2026, with the Netherlands Phase II facility fully planted and the Delta 2 expansion targeting full 40-metric-tonne capacity by mid-2027.
Strategic capital allocation included $15.0 million in share issuance and $6.8 million in repurchases over nine months, alongside the conversion of 16 acres at Delta 1 to cannabis production and active mobilization of the Texas Monahans greenhouse for U.S. market entry.
Leadership changes include the appointment of Hamid Shekarchi as Interim CFO and Deepak Anand as VP of Government Affairs, while the company maintains a net cash position of $41 million and $79.3 million in cash equivalents.