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Side-by-side financial comparison of Canopy Growth Corp (CGC) and Fluent, Inc. (FLNT). Click either name above to swap in a different company.
Fluent, Inc. is the larger business by last-quarter revenue ($61.8M vs $54.4M, roughly 1.1× Canopy Growth Corp). Fluent, Inc. runs the higher net margin — -6.7% vs -84.0%, a 77.4% gap on every dollar of revenue. On growth, Canopy Growth Corp posted the faster year-over-year revenue change (-0.3% vs -5.5%). Over the past eight quarters, Canopy Growth Corp's revenue compounded faster (1.2% CAGR vs -3.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
THG Fluently, formerly Language Connect, is a translation and language localisation service provided by THG Ingenuity. It provides a range of language services, including translation, interpreting, localisation, voice-overs, transcription, and multilingual search engine optimization.
CGC vs FLNT — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $61.8M |
| Net Profit | $-45.7M | $-4.1M |
| Gross Margin | 28.8% | — |
| Operating Margin | -35.3% | 0.3% |
| Net Margin | -84.0% | -6.7% |
| Revenue YoY | -0.3% | -5.5% |
| Net Profit YoY | 48.6% | -20.1% |
| EPS (diluted) | — | $-0.09 |
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 | $54.4M | $61.8M | ||
| Q3 25 | $48.7M | $47.0M | ||
| Q2 25 | $52.7M | $44.7M | ||
| Q1 25 | $47.5M | $55.2M | ||
| Q4 24 | $54.6M | $65.4M | ||
| Q3 24 | $46.0M | $64.5M | ||
| Q2 24 | $48.3M | $58.7M | ||
| Q1 24 | $53.1M | $66.0M |
| Q4 25 | $-45.7M | $-4.1M | ||
| Q3 25 | $-1.2M | $-7.6M | ||
| Q2 25 | $-30.3M | $-7.2M | ||
| Q1 25 | — | $-8.3M | ||
| Q4 24 | $-89.0M | $-3.4M | ||
| Q3 24 | $-93.7M | $-7.9M | ||
| Q2 24 | $-92.8M | $-11.6M | ||
| Q1 24 | — | $-6.3M |
| Q4 25 | 28.8% | — | ||
| Q3 25 | 32.8% | — | ||
| Q2 25 | 25.0% | — | ||
| Q1 25 | 16.2% | — | ||
| Q4 24 | 32.2% | — | ||
| Q3 24 | 34.7% | — | ||
| Q2 24 | 34.8% | — | ||
| Q1 24 | 21.3% | — |
| Q4 25 | -35.3% | 0.3% | ||
| Q3 25 | -25.3% | -13.4% | ||
| Q2 25 | -31.4% | -15.9% | ||
| Q1 25 | — | -12.8% | ||
| Q4 24 | -31.9% | -8.3% | ||
| Q3 24 | -72.9% | -6.0% | ||
| Q2 24 | -44.0% | -17.7% | ||
| Q1 24 | — | -6.0% |
| Q4 25 | -84.0% | -6.7% | ||
| Q3 25 | -2.5% | -16.1% | ||
| Q2 25 | -57.6% | -16.2% | ||
| Q1 25 | — | -15.0% | ||
| Q4 24 | -163.0% | -5.2% | ||
| Q3 24 | -203.7% | -12.3% | ||
| Q2 24 | -192.0% | -19.8% | ||
| Q1 24 | — | -9.5% |
| Q4 25 | — | $-0.09 | ||
| Q3 25 | — | $-0.27 | ||
| Q2 25 | — | $-0.30 | ||
| Q1 25 | — | $-0.39 | ||
| Q4 24 | — | $-0.12 | ||
| Q3 24 | — | $-0.48 | ||
| Q2 24 | — | $-0.75 | ||
| Q1 24 | — | $-0.45 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $271.1M | $12.9M |
| Total DebtLower is stronger | — | $34.6M |
| Stockholders' EquityBook value | $553.5M | $18.2M |
| Total Assets | $807.5M | $89.1M |
| Debt / EquityLower = less leverage | — | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $12.9M | ||
| Q3 25 | $217.6M | $9.2M | ||
| Q2 25 | $104.8M | $4.9M | ||
| Q1 25 | $96.0M | $4.8M | ||
| Q4 24 | $130.2M | $9.4M | ||
| Q3 24 | $168.8M | $6.6M | ||
| Q2 24 | $142.3M | $5.0M | ||
| Q1 24 | $148.5M | $11.7M |
| Q4 25 | — | $34.6M | ||
| Q3 25 | — | $26.0M | ||
| Q2 25 | — | $23.2M | ||
| Q1 25 | — | $25.6M | ||
| Q4 24 | — | $35.6M | ||
| Q3 24 | — | $37.9M | ||
| Q2 24 | — | $33.3M | ||
| Q1 24 | — | $31.0M |
| Q4 25 | $553.5M | $18.2M | ||
| Q3 25 | $537.3M | $21.6M | ||
| Q2 25 | $357.0M | $19.1M | ||
| Q1 25 | $355.7M | $22.0M | ||
| Q4 24 | $431.8M | $25.0M | ||
| Q3 24 | $372.1M | $20.0M | ||
| Q2 24 | $389.0M | $27.5M | ||
| Q1 24 | $365.3M | $28.7M |
| Q4 25 | $807.5M | $89.1M | ||
| Q3 25 | $781.0M | $76.1M | ||
| Q2 25 | $660.4M | $74.5M | ||
| Q1 25 | $669.9M | $77.5M | ||
| Q4 24 | $849.9M | $93.6M | ||
| Q3 24 | $899.6M | $77.5M | ||
| Q2 24 | $938.9M | $98.5M | ||
| Q1 24 | $949.2M | $103.6M |
| Q4 25 | — | 1.90× | ||
| Q3 25 | — | 1.21× | ||
| Q2 25 | — | 1.21× | ||
| Q1 25 | — | 1.16× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.90× | ||
| Q2 24 | — | 1.21× | ||
| Q1 24 | — | 1.08× |
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 | — | $2.8M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.8M | ||
| Q3 25 | — | $-7.3M | ||
| Q2 25 | $-7.5M | $935.0K | ||
| Q1 25 | $-121.0M | $2.1M | ||
| Q4 24 | — | $-2.1M | ||
| Q3 24 | — | $1.2M | ||
| Q2 24 | $-37.8M | $-13.1M | ||
| Q1 24 | $-205.8M | $-132.0K |
| Q4 25 | — | — | ||
| Q3 25 | — | $-7.3M | ||
| Q2 25 | $-8.5M | — | ||
| Q1 25 | $-128.9M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2M | ||
| Q2 24 | $-40.7M | — | ||
| Q1 24 | $-208.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -15.6% | ||
| Q2 25 | -16.1% | — | ||
| Q1 25 | -271.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | -84.1% | — | ||
| Q1 24 | -392.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 16.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | 5.9% | — | ||
| Q1 24 | 4.7% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CGC
| Other | $24.0M | 44% |
| Canadian Adult Use Cannabis | $22.9M | 42% |
| International Markets Cannabis | $6.2M | 11% |
| Other Geographical Area | $1.2M | 2% |
FLNT
| Commerce Media Solutions | $34.7M | 56% |
| Owned And Operated | $21.3M | 34% |
| Call Solutions | $3.8M | 6% |
| Ad Parlor | $2.0M | 3% |
