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Side-by-side financial comparison of Canopy Growth Corp (CGC) and iQSTEL Inc (IQST). Click either name above to swap in a different company.
iQSTEL Inc is the larger business by last-quarter revenue ($84.2M vs $54.4M, roughly 1.5× Canopy Growth Corp). iQSTEL Inc runs the higher net margin — -3.2% vs -84.0%, a 80.8% gap on every dollar of revenue. On growth, Canopy Growth Corp posted the faster year-over-year revenue change (-0.3% vs -14.9%). Over the past eight quarters, iQSTEL Inc's revenue compounded faster (28.0% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
CGC vs IQST — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $84.2M |
| Net Profit | $-45.7M | $-2.7M |
| Gross Margin | 28.8% | 3.5% |
| Operating Margin | -35.3% | -2.9% |
| Net Margin | -84.0% | -3.2% |
| Revenue YoY | -0.3% | -14.9% |
| Net Profit YoY | 48.6% | -44.5% |
| EPS (diluted) | — | $-0.92 |
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 | $84.2M | ||
| Q3 25 | $48.7M | $102.9M | ||
| Q2 25 | $52.7M | $72.2M | ||
| Q1 25 | $47.5M | $57.6M | ||
| Q4 24 | $54.6M | $98.9M | ||
| Q3 24 | $46.0M | $54.2M | ||
| Q2 24 | $48.3M | $78.6M | ||
| Q1 24 | $53.1M | $51.4M |
| Q4 25 | $-45.7M | $-2.7M | ||
| Q3 25 | $-1.2M | $-2.3M | ||
| Q2 25 | $-30.3M | $-2.3M | ||
| Q1 25 | — | $-1.1M | ||
| Q4 24 | $-89.0M | $-1.9M | ||
| Q3 24 | $-93.7M | $-773.0K | ||
| Q2 24 | $-92.8M | $-2.0M | ||
| Q1 24 | — | $-580.2K |
| Q4 25 | 28.8% | 3.5% | ||
| Q3 25 | 32.8% | 2.7% | ||
| Q2 25 | 25.0% | 2.6% | ||
| Q1 25 | 16.2% | 3.4% | ||
| Q4 24 | 32.2% | 2.7% | ||
| Q3 24 | 34.7% | 3.7% | ||
| Q2 24 | 34.8% | 2.8% | ||
| Q1 24 | 21.3% | 2.7% |
| Q4 25 | -35.3% | -2.9% | ||
| Q3 25 | -25.3% | -0.5% | ||
| Q2 25 | -31.4% | -0.9% | ||
| Q1 25 | — | -1.0% | ||
| Q4 24 | -31.9% | -0.3% | ||
| Q3 24 | -72.9% | -0.1% | ||
| Q2 24 | -44.0% | -0.4% | ||
| Q1 24 | — | -0.4% |
| Q4 25 | -84.0% | -3.2% | ||
| Q3 25 | -2.5% | -2.3% | ||
| Q2 25 | -57.6% | -3.3% | ||
| Q1 25 | — | -2.0% | ||
| Q4 24 | -163.0% | -1.9% | ||
| Q3 24 | -203.7% | -1.4% | ||
| Q2 24 | -192.0% | -2.5% | ||
| Q1 24 | — | -1.1% |
| Q4 25 | — | $-0.92 | ||
| Q3 25 | — | $-0.68 | ||
| Q2 25 | — | $-0.82 | ||
| Q1 25 | — | $-0.44 | ||
| Q4 24 | — | $-1.19 | ||
| Q3 24 | — | $-0.40 | ||
| Q2 24 | — | $-0.90 | ||
| Q1 24 | — | $-0.37 |
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 | $2.2M |
| Total DebtLower is stronger | — | $4.1M |
| Stockholders' EquityBook value | $553.5M | $16.3M |
| Total Assets | $807.5M | $51.1M |
| Debt / EquityLower = less leverage | — | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $2.2M | ||
| Q3 25 | $217.6M | $2.3M | ||
| Q2 25 | $104.8M | $2.0M | ||
| Q1 25 | $96.0M | $1.1M | ||
| Q4 24 | $130.2M | $2.5M | ||
| Q3 24 | $168.8M | $2.1M | ||
| Q2 24 | $142.3M | $797.2K | ||
| Q1 24 | $148.5M | $2.7M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | — | $2.7M | ||
| Q2 25 | — | $4.5M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $194.0K |
| Q4 25 | $553.5M | $16.3M | ||
| Q3 25 | $537.3M | $17.9M | ||
| Q2 25 | $357.0M | $14.3M | ||
| Q1 25 | $355.7M | $11.6M | ||
| Q4 24 | $431.8M | $11.9M | ||
| Q3 24 | $372.1M | $8.1M | ||
| Q2 24 | $389.0M | $7.6M | ||
| Q1 24 | $365.3M | $8.4M |
| Q4 25 | $807.5M | $51.1M | ||
| Q3 25 | $781.0M | $46.9M | ||
| Q2 25 | $660.4M | $51.4M | ||
| Q1 25 | $669.9M | $42.0M | ||
| Q4 24 | $849.9M | $79.0M | ||
| Q3 24 | $899.6M | $32.4M | ||
| Q2 24 | $938.9M | $30.0M | ||
| Q1 24 | $949.2M | $22.1M |
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 0.02× |
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 | — | $-1.2M |
| Free Cash FlowOCF − Capex | — | $-1.2M |
| FCF MarginFCF / Revenue | — | -1.5% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-1.2M | ||
| Q3 25 | — | $-953.0K | ||
| Q2 25 | $-7.5M | $257.7K | ||
| Q1 25 | $-121.0M | $-1.9M | ||
| Q4 24 | — | $-403.7K | ||
| Q3 24 | — | $625.0K | ||
| Q2 24 | $-37.8M | $-2.6M | ||
| Q1 24 | $-205.8M | $-536.9K |
| Q4 25 | — | $-1.2M | ||
| Q3 25 | — | $-969.2K | ||
| Q2 25 | $-8.5M | $211.7K | ||
| Q1 25 | $-128.9M | $-2.0M | ||
| Q4 24 | — | $-421.3K | ||
| Q3 24 | — | $594.5K | ||
| Q2 24 | $-40.7M | $-2.6M | ||
| Q1 24 | $-208.3M | $-608.5K |
| Q4 25 | — | -1.5% | ||
| Q3 25 | — | -0.9% | ||
| Q2 25 | -16.1% | 0.3% | ||
| Q1 25 | -271.5% | -3.4% | ||
| Q4 24 | — | -0.4% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | -84.1% | -3.4% | ||
| Q1 24 | -392.1% | -1.2% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | 1.8% | 0.1% | ||
| Q1 25 | 16.6% | 0.1% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | 5.9% | 0.0% | ||
| Q1 24 | 4.7% | 0.1% |
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% |
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
