07:40 AM EDT, 08/08/2025 (MT Newswires) -- Cannabis retailer Canopy Growth ( CGC ) , up near 5% in U.S. pre-market trade, on Friday said first-quarter net loss narrowed as revenue increased on higher cannabis sales.

Net loss narrowed to $41.5 million, or $0.22 per share, from $127 million, or $1.60 per share, in the previous corresponding quarter. Analysts polled by FactSet had forecast a loss of $0.23 per share.

Net revenue increased 9% to $72.1 million, beating analysts expectations of $64.5 million. The increase was due to increased Canada adult-use cannabis, Canada medical cannabis and international markets cannabis net revenue, the company said.

"We delivered strong top line growth in the first quarter of fiscal 2026, led by momentum in our Canada adult-use cannabis business where we're gaining share in high-demand categories, and steady performance across our global medical cannabis business," Chief Executive Luc Mongeau. "This reflects the early impact of our focused commercial strategy and a more disciplined execution. I'm confident we can continue to build on this momentum through the remainder of the year."

Canopy Growth ( CGC ) shares were up US$0.05, to US$1.10 in pre-market trade.