Canadian Cannabis Stocks With U.S. Growth Potential
The U.S. cannabis industry continues to surge, reaching an estimated $45 billion in 2025. Analysts expect it to grow to over $75 billion by 2030. With federal reform discussions advancing and legalization expanding, Canadian cannabis companies are positioning for growth. Many are making strategic moves to increase their U.S. exposure through acquisitions and partnerships.
This momentum has sparked investor interest in Canadian companies with operational ties to the U.S. These firms aim to capture future demand while waiting for federal legalization. This week, three stocks stand out: Tilray Brands Inc., Canopy Growth Corporation, and Village Farms International Inc. Each has taken bold steps to improve financial health and boost cross-border expansion. Let’s explore how these companies are performing and why they’re worth watching now.
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Top Canadian Cannabis Stocks to Watch in May 2025
- Tilray Brands Inc. (NASDAQ: TLRY)
- Canopy Growth Corporation (NASDAQ: CGC)
- Village Farms International Inc. (NASDAQ: VFF)
Tilray Brands Inc. (TLRY)
Tilray Brands Inc. is a diversified cannabis company with exposure to both wellness and beverage sectors. The company operates in Canada, Europe, and across the U.S. through THC-infused beverages and hemp-based products. In the U.S., Tilray distributes its THC drinks in over 10 states via various retail partnerships. Although it doesn’t own dispensaries, its beverages are stocked in liquor stores and convenience chains nationwide.
Tilray is also active in global markets. It has operations in Germany, Portugal, and Australia. These regions support both medical and recreational growth. Within North America, Tilray’s strategy focuses on consumer-packaged goods and market penetration through scalable partnerships. The company’s U.S. exposure continues to grow despite regulatory barriers.
In April 2025, Tilray reported its Q3 fiscal 2025 earnings. The company posted revenue of $185.8 million, slightly lower than last year. Gross profit rose 5% to $52 million. Gross margin improved to 28%, driven by cost controls and high-margin products.
Tilray’s cannabis segment delivered its strongest margin in two years. This result indicates progress in operational efficiency. However, the company posted a net loss of $793.5 million. This was mostly due to non-cash impairment charges that impacted reported earnings. Tilray also reduced its overall debt by $76 million. This move shows a commitment to long-term financial sustainability. Investors continue to monitor Tilray’s beverage expansion and cost-reduction initiatives for future performance.
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Canopy Growth Corporation (CGC)
Canopy Growth Corporation is one of the best-known cannabis producers in Canada. The company has multiple brands, including Tweed, Tokyo Smoke, and Martha Stewart CBD. Canopy has shifted its U.S. strategy through Canopy USA. This structure gives it exposure to American operators while complying with federal law.
Canopy USA controls stakes in several U.S. companies, including Wana, Jetty, and Acreage. These firms give Canopy access to edibles, vapes, and flower products. While Canopy cannot yet directly operate dispensaries in the U.S., this setup keeps it prepared for future legalization. The company’s brand portfolio remains one of its strongest assets.
In February 2025, Canopy reported its Q3 fiscal 2025 results. The company generated $74.8 million in revenue, a 5% drop from the prior year. However, revenue increased by 8% when excluding divested businesses. The company also reported a $24 million operating loss, but this marked a 61% improvement year-over-year.
Canopy’s medical cannabis business in Canada showed continued strength. International markets also contributed to stable revenue, especially in Europe. To improve its balance sheet, Canopy prepaid a $100 million loan. This will reduce interest costs and improve cash flow. Management continues to focus on operational efficiency and margin recovery. Investors are watching closely to see how U.S. political changes could impact Canopy’s expansion plans.
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Village Farms International Inc. (VFF)
Village Farms International began as a greenhouse vegetable grower. It later pivoted into cannabis production through its Pure Sunfarms subsidiary. The company now operates as a vertically integrated cannabis and produce business. While Village Farms doesn’t yet own dispensaries in the U.S., it maintains agricultural operations in Texas and has plans for wellness-based expansion.
Pure Sunfarms is one of Canada’s most profitable cannabis producers. It is known for its cost efficiency and strong margins. Village Farms leverages its farming expertise to scale its cannabis operations. The company’s ability to manage multiple product lines gives it a unique position in the market.
On May 12, 2025, Village Farms reported its Q1 2025 earnings. Consolidated revenue came in at $77.1 million. This was slightly down from the $78.1 million posted a year earlier. However, its Canadian cannabis segment delivered a net income of $3 million. This was a 258% increase compared to the prior year.
Adjusted EBITDA for that segment grew by 64% to $6.7 million. These results highlight the strength of the company’s cannabis operations. Meanwhile, the produce segment continues to face weather-related challenges. To address this, Village Farms announced plans to privatize part of its produce business. This move allows the company to focus resources on higher-growth cannabis operations. Investors are optimistic that this shift will unlock more value in the quarters ahead.
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Canadian cannabis companies are no longer just domestic players. Each of these three stocks—Tilray, Canopy, and Village Farms—offers a unique path into the growing U.S. market. They are actively restructuring operations, improving balance sheets, and expanding strategic footprints.
Tilray leads with beverages and CPG products. Canopy is leveraging brand strength and U.S. subsidiaries. Village Farms stands out with operational efficiency and profitability. All three companies have shown improvements in key financial metrics this year.
Still, cannabis remains a volatile sector. News, politics, and regulations can move these stocks quickly. As always, traders should use technical analysis and risk management strategies. Identify trend direction, volume changes, and support levels before making entries. Use stop losses to protect capital. Stay informed, stay flexible, and keep an eye on these leaders as the cannabis market heats up in 2025.
MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
