EarningsQ3 2026 Earnings Report
LOVFF Q3 2026 EPS Results
Actual EPS$0.04
Consensus EPS$0.04
Beat/MissMet expectations
One Year Ago EPS$0.03
LOVFF Q3 2026 Revenue Results
Actual Revenue$22.49M
Expected Revenue$22.07M
Beat/MissBeat by +$420.44K
YoY Revenue Growth+16.45%
Earnings Announcement Details
QuarterQ3 2026
Date07/15/2026
TimeBefore Open
Conference CallWednesday, July 15, 2026
LOVFF Upcoming Earnings
Cannara Biotech's next earnings date is estimated for November 24, 2026, based on past reporting schedules.
Q3 2026 Earnings Call Audio
LOVFF Q3 2026 Earnings Call
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Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a broadly positive operational and financial picture: double-digit revenue growth (16% QoQ), continued profitability (adjusted EBITDA up 11% and 21 consecutive positive quarters), strengthened market penetration (national share gains and record monthly shares in Ontario and Alberta), accelerated capacity expansion and strategic partnerships (Medican acquisition, Blue River technology, CAD 21M Curaleaf agreement). Notable near-term negatives include lower quarterly free cash flow and operating cash flow versus the prior year driven by higher expansion capex, a modest dip in gross margin from product mix, higher receivables and inventory, and competitive pressures in certain categories. On balance, the highlights — consistent profitability, expanding distribution and market share, accelerated capacity rollout, and strategic deals — outweigh the lowlights tied to timing, investment-driven cash flow effects, and category competition.Company Guidance
Revenue Growth
Gross cannabis revenue increased 16% year-over-year to CAD 44.1 million; total net revenue increased 16% to CAD 31.8 million (from CAD 27.3 million) and rose 17% sequentially from Q2.
Profitability and Margins
Adjusted EBITDA rose 11% year-over-year to CAD 8.5 million, representing a 27% adjusted EBITDA margin; operating income increased to CAD 7.4 million (from CAD 6.8 million) and income before taxes increased 19% to CAD 6.9 million.
Consistent Cash Generation
Q3 marked the company's 21st consecutive quarter of positive adjusted EBITDA and 15th consecutive quarter of positive operating cash flow; Q3 operating cash flow was CAD 5.7 million and year-to-date operating cash flow was CAD 16.6 million.
Market Share Gains and Distribution Expansion
Estimated national retail market share held at 4.4% in Q3 (up from 4.1% in Q1); record monthly market shares in Ontario (3.7% in June) and Alberta (2.9% in June). Distribution footprint exceeded 49,000 points and products represented ~3.3% of national retail listings while generating a 4.4% market share, indicating strong velocity.
Capacity Expansion Accelerated
Activated two additional grow zones (now 14 of 24) increasing annualized production capacity to >58,000 kg; now targeting ~75,000 kg by end of fiscal 2027 (about one year ahead of prior timeline) and preserving runway to 100,000 kg within existing footprint.
Strategic M&A and Partnerships
Completed acquisition of Medican Organic (consolidating Valleyfield ownership and extraction IP); secured exclusive Canadian rights to Blue River's Ampersand live rosin infusion technology; signed first long-term international supply agreement with Curaleaf with potential aggregate contract value up to CAD 21 million.
Balance Sheet Strength and Liquidity
Cash balance of CAD 21.8 million (up from CAD 14.4 million at start of fiscal year); working capital ~CAD 65.1 million (up CAD 17.2 million year-to-date); total assets CAD 194.5 million and shareholders' equity CAD 125.8 million; reduced borrowing cost to 4.83% and drew CAD 2 million under a CAD 10 million facility to support expansion.
Year-to-Date Financial Momentum
Year-to-date gross cannabis revenue increased 13% to CAD 123.7 million; total net revenue increased 13% to CAD 89.1 million; gross profit before fair value adjustments increased 18% to CAD 38.5 million with margin improving to 43% from 41%; adjusted EBITDA YTD increased 13% to CAD 23.3 million.
LOVFF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed