Canopy Growth (CGC) reported a 13% year-over-year revenue increase to $58.9 million in Q1 FY2027 (ending June 30), but its stock price reaction was subdued. Analysts believe investors are disappointed by the company's repeated failure to achieve profitability, and that part of this quarter's growth came from the acquisition of MTL Cannabis rather than organic growth from existing operations. Although the adjusted gross margin improved from 25% to 31% and the adjusted EBITDA loss narrowed by 59% to $2.3 million, the company still posted a loss of $10.6 million, and free cash outflow increased to $18.6 million.