10-Q · May 11, 2026
Village Farms International (VFF) reported strong financial results for Q1 2026, with revenue increasing by 27% year-over-year driven by substantial growth in international exports. The company achieved a net income of…
Earnings analysis · 10-Q
VFF earnings analysis
Filed August 10, 2026 · Our reading of the company's report
The latest report
The provided excerpt does not contain the income statement, balance sheet, cash-flow statement, segment results, or MD&A, so revenue, margins, EPS, free cash flow, and period-over-period trends cannot be assessed.…
Read full summary
The provided excerpt does not contain the income statement, balance sheet, cash-flow statement, segment results, or MD&A, so revenue, margins, EPS, free cash flow, and period-over-period trends cannot be assessed. Market-risk disclosure shows approximately 39,962 of variable-rate debt at a 5.7% weighted average rate, with rates down approximately 1.2% year over year, but the company remains exposed to rate and foreign-exchange movements. Management reported effective controls and no material changes to market risks from the prior Form 10-K.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Lower Variable Debt Rates
Variable-rate debt totaled approximately 39,962 in aggregate principal at June 30, 2026, with a weighted average interest rate of 5.7%. Current rates were approximately 1.2% lower than the comparable period in 2025.
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Controls Remained Effective
The company reported effective disclosure controls as of June 30, 2026, and stated there were no changes during the six months ended June 30, 2026 that materially affected internal control over financial reporting.
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Share Repurchases Continued
The company repurchased 149,229 common shares during April 2026 at an average price of $2.81 per share under its authorized $10 million repurchase program.
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No Material Legal or Risk Changes
Management stated that legal proceedings currently underway are not expected to have a material impact on the business; the filing also states there were no material changes to market risks from the prior Form 10-K.
What to watch
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Exposure to Variable Interest Rates
Variable-rate borrowings totaled approximately 39,962 with a 5.7% weighted average interest rate. An additional 50-basis-point increase would have raised interest expense by approximately $46 for the three months and $92 for the six months ended June 30, 2026.
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Canadian Dollar Exposure
Foreign-exchange exposure remains material to certain balance-sheet items: a $0.10 increase in the Canadian dollar would have generated a net foreign-exchange gain of $6,866 at June 30, 2026, including impacts of $4,840 on cash and cash equivalents and $(2,865) on loan payable.
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Capital Allocation and Liquidity
The company allocated capital to repurchase 149,229 shares at an average cost of $2.81 per share while maintaining a $10 million authorized program. The excerpt does not provide liquidity or cash-balance data to assess the effect on funding capacity.
Management's outlook
The provided 10-Q excerpt does not include quantitative revenue or EPS guidance. No change to prior outlook is disclosed; the filing states there were no material changes to market risks from the 2026 Form 10-K.
Earlier filings 4
10-K · March 12, 2026
Village Farms’ 10-K emphasizes a strategy of leveraging 30+ years of controlled environment agriculture (CEA) to scale cannabis production (Pure Sunfarms, Rose, Leli) while monetizing energy (Delta RNG) and CBD…
10-Q · May 12, 2025
Village Farms reported Q1 sales of $77.074 million and a net loss per share of $0.06. Gross profit declined to $11.340 million (14.7% margin) from $15.513 million a year ago, and the company generated negative operating…
10-K · March 13, 2025
Village Farms positions itself as a vertically integrated Controlled Environment Agriculture leader with a diversified portfolio across produce, Canadian cannabis (Pure Sunfarms, Rose), U.S. hemp/CBD (Balanced Health)…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.