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Side-by-side financial comparison of C3.ai, Inc. (AI) and Canopy Growth Corp (CGC). Click either name above to swap in a different company.
C3.ai, Inc. is the larger business by last-quarter revenue ($75.1M vs $54.4M, roughly 1.4× Canopy Growth Corp). Canopy Growth Corp runs the higher net margin — -84.0% vs -139.3%, a 55.3% gap on every dollar of revenue. On growth, Canopy Growth Corp posted the faster year-over-year revenue change (-0.3% vs -20.3%). Over the past eight quarters, Canopy Growth Corp's revenue compounded faster (1.2% CAGR vs -2.1%).
C3.ai, Inc. is a leading enterprise artificial intelligence software provider that develops and delivers scalable AI applications, platform tools, and industry-specific solutions for clients across sectors including manufacturing, energy, financial services, healthcare and public sector. Its offerings help organizations optimize operations, reduce costs, mitigate risks, and realize data-driven decision making.
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
AI vs CGC — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $54.4M |
| Net Profit | $-104.7M | $-45.7M |
| Gross Margin | 40.4% | 28.8% |
| Operating Margin | -149.2% | -35.3% |
| Net Margin | -139.3% | -84.0% |
| Revenue YoY | -20.3% | -0.3% |
| Net Profit YoY | -58.7% | 48.6% |
| EPS (diluted) | $-0.75 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $75.1M | $54.4M | ||
| Q3 25 | $70.3M | $48.7M | ||
| Q2 25 | $108.7M | $52.7M | ||
| Q1 25 | $98.8M | $47.5M | ||
| Q4 24 | $94.3M | $54.6M | ||
| Q3 24 | $87.2M | $46.0M | ||
| Q2 24 | $86.6M | $48.3M | ||
| Q1 24 | $78.4M | $53.1M |
| Q4 25 | $-104.7M | $-45.7M | ||
| Q3 25 | $-116.8M | $-1.2M | ||
| Q2 25 | $-79.7M | $-30.3M | ||
| Q1 25 | $-80.2M | — | ||
| Q4 24 | $-66.0M | $-89.0M | ||
| Q3 24 | $-62.8M | $-93.7M | ||
| Q2 24 | $-72.9M | $-92.8M | ||
| Q1 24 | $-72.6M | — |
| Q4 25 | 40.4% | 28.8% | ||
| Q3 25 | 37.6% | 32.8% | ||
| Q2 25 | 62.1% | 25.0% | ||
| Q1 25 | 59.1% | 16.2% | ||
| Q4 24 | 61.3% | 32.2% | ||
| Q3 24 | 59.8% | 34.7% | ||
| Q2 24 | 59.6% | 34.8% | ||
| Q1 24 | 57.8% | 21.3% |
| Q4 25 | -149.2% | -35.3% | ||
| Q3 25 | -177.7% | -25.3% | ||
| Q2 25 | -81.8% | -31.4% | ||
| Q1 25 | -88.7% | — | ||
| Q4 24 | -79.8% | -31.9% | ||
| Q3 24 | -83.2% | -72.9% | ||
| Q2 24 | -95.1% | -44.0% | ||
| Q1 24 | -105.3% | — |
| Q4 25 | -139.3% | -84.0% | ||
| Q3 25 | -166.2% | -2.5% | ||
| Q2 25 | -73.3% | -57.6% | ||
| Q1 25 | -81.2% | — | ||
| Q4 24 | -69.9% | -163.0% | ||
| Q3 24 | -72.0% | -203.7% | ||
| Q2 24 | -84.2% | -192.0% | ||
| Q1 24 | -92.6% | — |
| Q4 25 | $-0.75 | — | ||
| Q3 25 | $-0.86 | — | ||
| Q2 25 | $-0.60 | — | ||
| Q1 25 | $-0.62 | — | ||
| Q4 24 | $-0.52 | — | ||
| Q3 24 | $-0.50 | — | ||
| Q2 24 | $-0.59 | — | ||
| Q1 24 | $-0.60 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $675.0M | $271.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $771.9M | $553.5M |
| Total Assets | $961.3M | $807.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | $271.1M | ||
| Q3 25 | $711.9M | $217.6M | ||
| Q2 25 | $742.7M | $104.8M | ||
| Q1 25 | $724.3M | $96.0M | ||
| Q4 24 | $730.4M | $130.2M | ||
| Q3 24 | $762.5M | $168.8M | ||
| Q2 24 | $750.4M | $142.3M | ||
| Q1 24 | $723.3M | $148.5M |
| Q4 25 | $771.9M | $553.5M | ||
| Q3 25 | $798.8M | $537.3M | ||
| Q2 25 | $838.3M | $357.0M | ||
| Q1 25 | $860.2M | $355.7M | ||
| Q4 24 | $859.0M | $431.8M | ||
| Q3 24 | $874.9M | $372.1M | ||
| Q2 24 | $873.4M | $389.0M | ||
| Q1 24 | $898.0M | $365.3M |
| Q4 25 | $961.3M | $807.5M | ||
| Q3 25 | $968.7M | $781.0M | ||
| Q2 25 | $1.0B | $660.4M | ||
| Q1 25 | $1.1B | $669.9M | ||
| Q4 24 | $1.0B | $849.9M | ||
| Q3 24 | $1.1B | $899.6M | ||
| Q2 24 | $1.0B | $938.9M | ||
| Q1 24 | $1.1B | $949.2M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-46.5M | — |
| Free Cash FlowOCF − Capex | $-46.9M | — |
| FCF MarginFCF / Revenue | -62.4% | — |
| Capex IntensityCapex / Revenue | 0.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | — | ||
| Q3 25 | $-33.5M | — | ||
| Q2 25 | $11.3M | $-7.5M | ||
| Q1 25 | $-22.0M | $-121.0M | ||
| Q4 24 | $-38.7M | — | ||
| Q3 24 | $8.0M | — | ||
| Q2 24 | $21.3M | $-37.8M | ||
| Q1 24 | $-39.1M | $-205.8M |
| Q4 25 | $-46.9M | — | ||
| Q3 25 | $-34.3M | — | ||
| Q2 25 | $10.3M | $-8.5M | ||
| Q1 25 | $-22.4M | $-128.9M | ||
| Q4 24 | $-39.5M | — | ||
| Q3 24 | $7.1M | — | ||
| Q2 24 | $18.8M | $-40.7M | ||
| Q1 24 | $-45.1M | $-208.3M |
| Q4 25 | -62.4% | — | ||
| Q3 25 | -48.8% | — | ||
| Q2 25 | 9.5% | -16.1% | ||
| Q1 25 | -22.7% | -271.5% | ||
| Q4 24 | -41.9% | — | ||
| Q3 24 | 8.2% | — | ||
| Q2 24 | 21.7% | -84.1% | ||
| Q1 24 | -57.6% | -392.1% |
| Q4 25 | 0.5% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 0.9% | 1.8% | ||
| Q1 25 | 0.4% | 16.6% | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 2.9% | 5.9% | ||
| Q1 24 | 7.8% | 4.7% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
CGC
| Other | $24.0M | 44% |
| Canadian Adult Use Cannabis | $22.9M | 42% |
| International Markets Cannabis | $6.2M | 11% |
| Other Geographical Area | $1.2M | 2% |
