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Side-by-side financial comparison of Canopy Growth Corp (CGC) and INNODATA INC (INOD). Click either name above to swap in a different company.
INNODATA INC is the larger business by last-quarter revenue ($72.4M vs $54.4M, roughly 1.3× Canopy Growth Corp). INNODATA INC runs the higher net margin — 12.2% vs -84.0%, a 96.2% gap on every dollar of revenue. On growth, INNODATA INC posted the faster year-over-year revenue change (22.3% vs -0.3%). Over the past eight quarters, INNODATA INC's revenue compounded faster (65.3% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
Innodata Inc., formerly Innodata Isogen, Inc., is an American company that provides business process, technology and consulting services. The company also provides products that aim to help clients create, manage, use and distribute digital information.
CGC vs INOD — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $72.4M |
| Net Profit | $-45.7M | $8.8M |
| Gross Margin | 28.8% | 38.3% |
| Operating Margin | -35.3% | 15.1% |
| Net Margin | -84.0% | 12.2% |
| Revenue YoY | -0.3% | 22.3% |
| Net Profit YoY | 48.6% | -14.2% |
| EPS (diluted) | — | $0.26 |
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 | $72.4M | ||
| Q3 25 | $48.7M | $62.5M | ||
| Q2 25 | $52.7M | $58.4M | ||
| Q1 25 | $47.5M | $58.3M | ||
| Q4 24 | $54.6M | $59.2M | ||
| Q3 24 | $46.0M | $52.2M | ||
| Q2 24 | $48.3M | $32.6M | ||
| Q1 24 | $53.1M | $26.5M |
| Q4 25 | $-45.7M | $8.8M | ||
| Q3 25 | $-1.2M | $8.3M | ||
| Q2 25 | $-30.3M | $7.2M | ||
| Q1 25 | — | $7.8M | ||
| Q4 24 | $-89.0M | $10.3M | ||
| Q3 24 | $-93.7M | $17.4M | ||
| Q2 24 | $-92.8M | $-14.0K | ||
| Q1 24 | — | $989.0K |
| Q4 25 | 28.8% | 38.3% | ||
| Q3 25 | 32.8% | 40.8% | ||
| Q2 25 | 25.0% | 39.4% | ||
| Q1 25 | 16.2% | 39.9% | ||
| Q4 24 | 32.2% | 45.2% | ||
| Q3 24 | 34.7% | 40.8% | ||
| Q2 24 | 34.8% | 28.7% | ||
| Q1 24 | 21.3% | 36.4% |
| Q4 25 | -35.3% | 15.1% | ||
| Q3 25 | -25.3% | 18.8% | ||
| Q2 25 | -31.4% | 15.3% | ||
| Q1 25 | — | 14.2% | ||
| Q4 24 | -31.9% | 19.0% | ||
| Q3 24 | -72.9% | 21.9% | ||
| Q2 24 | -44.0% | 1.0% | ||
| Q1 24 | — | 5.0% |
| Q4 25 | -84.0% | 12.2% | ||
| Q3 25 | -2.5% | 13.3% | ||
| Q2 25 | -57.6% | 12.4% | ||
| Q1 25 | — | 13.3% | ||
| Q4 24 | -163.0% | 17.4% | ||
| Q3 24 | -203.7% | 33.3% | ||
| Q2 24 | -192.0% | -0.0% | ||
| Q1 24 | — | 3.7% |
| Q4 25 | — | $0.26 | ||
| Q3 25 | — | $0.24 | ||
| Q2 25 | — | $0.20 | ||
| Q1 25 | — | $0.22 | ||
| Q4 24 | — | $0.35 | ||
| Q3 24 | — | $0.51 | ||
| Q2 24 | — | $0.00 | ||
| Q1 24 | — | $0.03 |
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 | $82.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $553.5M | $107.1M |
| Total Assets | $807.5M | $168.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $82.2M | ||
| Q3 25 | $217.6M | $73.9M | ||
| Q2 25 | $104.8M | $59.8M | ||
| Q1 25 | $96.0M | $56.6M | ||
| Q4 24 | $130.2M | $46.9M | ||
| Q3 24 | $168.8M | $26.4M | ||
| Q2 24 | $142.3M | $16.5M | ||
| Q1 24 | $148.5M | $19.0M |
| Q4 25 | $553.5M | $107.1M | ||
| Q3 25 | $537.3M | $97.3M | ||
| Q2 25 | $357.0M | $86.7M | ||
| Q1 25 | $355.7M | $75.5M | ||
| Q4 24 | $431.8M | $63.5M | ||
| Q3 24 | $372.1M | $47.7M | ||
| Q2 24 | $389.0M | $29.0M | ||
| Q1 24 | $365.3M | $27.6M |
| Q4 25 | $807.5M | $168.6M | ||
| Q3 25 | $781.0M | $152.9M | ||
| Q2 25 | $660.4M | $132.6M | ||
| Q1 25 | $669.9M | $125.2M | ||
| Q4 24 | $849.9M | $113.4M | ||
| Q3 24 | $899.6M | $88.2M | ||
| Q2 24 | $938.9M | $66.0M | ||
| Q1 24 | $949.2M | $63.6M |
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 | — | $12.9M |
| Free Cash FlowOCF − Capex | — | $10.1M |
| FCF MarginFCF / Revenue | — | 13.9% |
| Capex IntensityCapex / Revenue | — | 3.9% |
| Cash ConversionOCF / Net Profit | — | 1.46× |
| TTM Free Cash FlowTrailing 4 quarters | — | $35.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $12.9M | ||
| Q3 25 | — | $18.8M | ||
| Q2 25 | $-7.5M | $4.2M | ||
| Q1 25 | $-121.0M | $10.9M | ||
| Q4 24 | — | $17.2M | ||
| Q3 24 | — | $11.4M | ||
| Q2 24 | $-37.8M | $-454.0K | ||
| Q1 24 | $-205.8M | $6.8M |
| Q4 25 | — | $10.1M | ||
| Q3 25 | — | $14.5M | ||
| Q2 25 | $-8.5M | $2.5M | ||
| Q1 25 | $-128.9M | $8.5M | ||
| Q4 24 | — | $15.0M | ||
| Q3 24 | — | $9.9M | ||
| Q2 24 | $-40.7M | $-3.2M | ||
| Q1 24 | $-208.3M | $5.4M |
| Q4 25 | — | 13.9% | ||
| Q3 25 | — | 23.2% | ||
| Q2 25 | -16.1% | 4.3% | ||
| Q1 25 | -271.5% | 14.6% | ||
| Q4 24 | — | 25.3% | ||
| Q3 24 | — | 19.0% | ||
| Q2 24 | -84.1% | -9.8% | ||
| Q1 24 | -392.1% | 20.5% |
| Q4 25 | — | 3.9% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | 1.8% | 2.9% | ||
| Q1 25 | 16.6% | 4.0% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | 5.9% | 8.4% | ||
| Q1 24 | 4.7% | 5.1% |
| Q4 25 | — | 1.46× | ||
| Q3 25 | — | 2.25× | ||
| Q2 25 | — | 0.59× | ||
| Q1 25 | — | 1.40× | ||
| Q4 24 | — | 1.67× | ||
| Q3 24 | — | 0.65× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 6.84× |
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% |
INOD
Segment breakdown not available.
