Revenue and cannabis EBITDA both grew YoY with expanding margins, but EPS declined due to the absence of the prior-year one-time vendor settlement. Watch for continued margin expansion from production cost improvements and the ramp of Delta 2 and Netherlands expansions through H2 2026 into 2027.
Price Chart
Executive Summary
Village Farms reported Q2 2026 results with consolidated net sales of $63.977M, up 7% YoY, and GAAP diluted EPS from continuing operations of $0.06 (vs $0.10 in Q2 2025). Cannabis segment revenue rose 5% to $53.5M with gross margin expanding 900 bps to 51%, driven by record international export sales of $20.9M (+74% YoY). Net income attributable to shareholders was $7.145M vs $26.497M in Q2 2025 which included $16.294M from discontinued operations.
Key Financial Metrics
Key Facts
- Consolidated net sales $63.977M, +7% YoY and +27% sequentially
- GAAP diluted EPS from continuing ops $0.06 (Q2 2025: $0.10)
- Cannabis segment net sales $53.5M, +5% YoY
- Cannabis gross margin 51% vs 42% YoY (+900 bps)
- Record international export sales $20.9M, +74% YoY and +43% sequentially
- Cannabis segment adjusted EBITDA $15.3M, +16% YoY, margin 29%
- Operating cash flow $8.9M vs $19.2M in Q2 2025
- Cash balance $72.9M at quarter end vs $86.3M at start of H1 2026
- Record production yields from Delta BC facilities in 1H 2026
Financial Impact
Revenue $63.977M, Cannabis EBITDA $15.3M, Cash $72.9M
Risk Factors
- Q2 2025 comparables included a $4.3M vendor settlement and $16.3M discontinued ops income — non-recurring
- Operating cash flow declined 53% YoY to $8.9M
- Cash declined $13.3M in H1 2026 driven by $15.5M capex and $6.8M share repurchases
- Canadian branded revenue declined 8% YoY to $23.0M
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-341207 |
| Document: vff-20260810.htm | 0001193125-26-341207 |
| Document: 0001193125-26-341207-index-headers.html | 0001193125-26-341207 |
| Document: 0001193125-26-341207-index.html | 0001193125-26-341207 |
| Document: 0001193125-26-341207.txt | 0001193125-26-341207 |
| 8-K Data (Synthetic) | 0001193125-26-341207 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 3d ago | 8-K | $2.79 | awaiting T+1 | — | $2.54 (−9.00%) |
Oct 22, 2026 4d ago | 8-K | $2.71 $2.58 | ▼ −4.98% | ▼ −4.46% | $2.54 (−6.32%) |
Sep 22, 2026 4w ago | Insider Cluster | $3.04 $3.12 | ▲ +2.80% | ▲ +2.88% | $2.54 (−16.35%) |
Sep 10, 2026 6w ago | 8-K | $2.86 $2.88 | ▲ +0.70% | ▼ −0.15% | $2.54 (−11.23%) |
Aug 10, 2026 11w ago | 8-K | $2.37 $2.43 | ▲ +2.53% | ▲ +2.85% | $2.54 (+7.12%) |
Aug 10, 2026 11w ago | Press Release | $2.37 $2.43 | ▲ +2.53% | ▲ +2.85% | $2.54 (+7.12%) |
Jul 22, 2026 13w ago | 8-K | $1.99 $1.95 | ▼ −2.01% | ▼ −0.78% | $2.54 (+27.58%) |
Jun 11, 2026 19w ago | Institutional Cluster | $2.08 $2.03 | ▼ −2.40% | ▼ −2.94% | $2.54 (+22.06%) |
Jun 8, 2026 20w ago | 8-K | $2.16 $2.09 | ▲ +3.24% | ▲ +2.95% | $2.54 (−17.54%) |
Jun 5, 2026 20w ago | 424B5 | $2.16 $2.09 | ▲ +3.24% | ▲ +2.95% | $2.54 (−17.54%) |
US Market Status
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