Canopy Growth slashes losses by 49% as it pivots to premium cannabis products
Canopy Growth is making major changes as it shifts focus toward higher-margin products. The company recently cut losses by nearly half and secured a leading spot in Canada's medical cannabis market. Meanwhile, leadership changes are underway at its subsidiary, Storz & Bickel, with a new managing director set to take charge. Canopy Growth has spent the past year restructuring its operations. In the third quarter of fiscal 2026, it slashed net losses by 49% compared to the same period last year. Cost-cutting measures since March 2025 have saved the company nearly USD 29 million annually. Despite these efforts, the firm's stock has plummeted by 94-99% since its 2014 IPO, with sharp declines following early hype around cannabis legalisation.
On March 16, 2026, the company acquired MTL Cannabis, reinforcing its position as Canada's top medical cannabis provider by revenue. It also launched a new product line, Deep Space—infused pre-rolls with over 60% potency. As of December 31, 2025, Canopy Growth held CAD 371 million in liquidity.
At Storz & Bickel, a subsidiary specialising in vaporisers, leadership is transitioning. Co-founder Jürgen Bickel is stepping down as managing director but will stay on as a strategic advisor. Replacing him is David Männel, the current deputy managing director, who has held the role for 14 years. His appointment begins April 1, 2026. Under recent management, the company's latest device, VEAZY, became its best-selling product ever, with 20,000 units sold. Canopy Growth continues to reshape its business after years of financial struggles. The company's latest acquisitions, cost reductions, and new product launches aim to stabilise its position in the cannabis market. At Storz & Bickel, the leadership change signals a new phase for the brand following record sales of its latest vaporiser.
