Canopy Growth CorpCGCEarnings & Financial Report
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
Revenue
$46.0M
Gross Profit
$15.9M
Operating Profit
$-33.5M
Net Profit
$-93.7M
Gross Margin
34.7%
Operating Margin
-72.9%
Net Margin
-203.7%
YoY Growth
-9.5%
Financial Flow
Canopy Growth Corp Q2 2025 Financial Summary
Canopy Growth Corp reported revenue of $46.0M (down 9.5% YoY) for Q2 2025, with a net profit of $-93.7M (up 58.6% YoY) (-203.7% margin). Cost of goods sold was $30.0M, operating expenses totaled $49.5M.
Key Financial Metrics
| Total Revenue | $46.0M |
|---|---|
| Net Profit | $-93.7M |
| Gross Margin | 34.7% |
| Operating Margin | -72.9% |
| Report Period | Q2 2025 |
Revenue Breakdown
Canopy Growth Corp Q2 2025 revenue of $46.0M breaks down across 4 segments, led by Canadian Medical Cannabis at $18.7M (40.6% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Canadian Medical Cannabis | $18.7M | 40.6% |
| Storz And Bickel | $15.9M | 34.5% |
| US | $7.3M | 16.0% |
| Other Geographical Area | $4.4M | 9.5% |
Canopy Growth Corp Revenue by Segment — Quarterly Trend
Canopy Growth Corp revenue by segment across the last 4 reported quarters, showing how each business line (such as Canadian Medical Cannabis and Storz And Bickel) has evolved quarter over quarter.
| Segment | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 |
|---|---|---|---|---|
| Canadian Medical Cannabis | — | $21.8M | — | — |
| Storz And Bickel | — | — | $15.2M | — |
| US | — | $6.4M | $6.0M | — |
| Other Geographical Area | $1.2M | $1.8M | $3.6M | — |
Canopy Growth Corp Annual Revenue by Year
Canopy Growth Corp annual revenue history includes year-by-year totals (for example, 2025 revenue was $196.4M).
| Year | Annual Revenue |
|---|---|
| 2025 | $196.4M |
| 2024 | $216.9M |
| 2023 | $243.3M |
| 2022 | $347.3M |
Canopy Growth Corp Quarterly Revenue & Net Profit History
Canopy Growth Corp results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q3 2026 | $54.4M | -0.3% | $-45.7M | -84.0% |
| Q2 2026 | $48.7M | +5.9% | $-1.2M | -2.5% |
| Q1 2026 | $52.7M | +8.9% | $-30.3M | -57.6% |
| Q4 2025 | $47.5M | -10.7% | N/A | N/A |
| Q3 2025 | $54.6M | -4.8% | $-89.0M | -163.0% |
| Q2 2025 | $46.0M | -9.5% | $-93.7M | -203.7% |
| Q1 2025 | $48.3M | -13.2% | $-92.8M | -192.0% |
| Q4 2024 | $53.1M | +33.5% | N/A | N/A |
Income Statement
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $53.1M | $48.3M | $46.0M | $54.6M | $47.5M | $52.7M | $48.7M | $54.4M |
| YoY Growth | 33.5% | -13.2% | -9.5% | -4.8% | -10.7% | 8.9% | 5.9% | -0.3% |
Balance Sheet
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $949.2M | $938.9M | $899.6M | $849.9M | $669.9M | $660.4M | $781.0M | $807.5M |
| Liabilities | $583.9M | $549.9M | $527.6M | $418.1M | $314.3M | $303.5M | $243.7M | $254.1M |
| Equity | $365.3M | $389.0M | $372.1M | $431.8M | $355.7M | $357.0M | $537.3M | $553.5M |
Cash Flow
| Q4 2024 | Q1 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|
| Operating CF | $-205.8M | $-37.8M | $-121.0M | $-7.5M |