Village Farms International, Inc. (“Village Farms” or the “Company”) (NASDAQ: VFF) today reported financial results for its quarter ended March 31, 2026. All figures are in U.S. dollars unless otherwise indicated.
Notice Regarding Changes to Segment Financial Reporting
During the first quarter of 2026, the Company realigned its structure toward a unified cannabis operating model, including changes and additions to its leadership team, to gain operational efficiencies and better align resources with customer and market opportunities. The Company’s operations are now organized, managed and classified into one reportable segment—Cannabis. The Company’s remaining operations are not reportable segments, as defined by the applicable accounting standard, and are classified as Other. Corporate expenses reflect the operations costs that are not allocated to the Company’s operating units.
President and Chief Executive Officer Michael DeGiglio commented, “Our first quarter results reflect a strong start to the year and continued momentum in our largest markets, with adjusted EBITDA growth of 118% year-over-year significantly outpacing revenue growth of 27%, driven by our international businesses and continued leadership in Canada. Our operations and commercial teams are executing with precision, delivering continued margin strength and a fourth consecutive quarter of positive net income which clearly demonstrates the sustainably profitable nature of our expanding global cannabis enterprise.”
“In Canada, we’re continuing to benefit from efforts to shift our business toward higher-margin products, growing market share in targeted and profitable product categories, and our Pure Sunfarms brand has now increased its share of dried flower formats for 15 consecutive months. It was also a record quarter of international medical export sales, which grew 171% year-over-year and 60% sequentially, supported by increasing demand for Village Farms’ EU-GMP compliant products, particularly in Germany where we are capturing an increasing share of a growing market and continue to see a stable pricing environment for our products for the foreseeable future.”
“After making recent facility upgrades at our 4.8 million square foot production campus in British Columbia, we now believe we operate the world’s largest EU-GMP certified cannabis facility. Our production capabilities, product quality, and regulatory and supply chain excellence provide us with a unique collection of durable competitive advantages that we have methodically built over the last six years. Our capacity expansion projects will begin contributing to stronger sales growth through the remainder of this year and into 2027, and we look forward to showcasing the combined strengths of our global platform as the year progresses.”
“We remain in an excellent position to continue scaling profitably with increasing global demand, and believe the strength of our balance sheet and cash generation profile will enable flexibility to make additional accretive organic and acquisitive growth investments. We have a lot of attractive opportunities emerging for us in the U.S. and international markets, but we plan to be prudent and patient with respect to the various strategic M&A opportunities we are pursuing.”
First Quarter 2026 Financial Highlights(All comparable periods are for the first quarter of 2025 unless otherwise stated)
Net sales increased 27% to $49.7 million from $39.2 million;
International export sales increased 171%; Canadian retail branded sales increased 5%; Netherlands sales increased 448%;
Source: Marijuana Stocks | Cannabis Investments and News. Roots of a Budding Industry.™
