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Side-by-side financial comparison of Canopy Growth Corp (CGC) and OLAPLEX HOLDINGS, INC. (OLPX). Click either name above to swap in a different company.
OLAPLEX HOLDINGS, INC. is the larger business by last-quarter revenue ($105.1M vs $54.4M, roughly 1.9× Canopy Growth Corp). OLAPLEX HOLDINGS, INC. runs the higher net margin — -12.5% vs -84.0%, a 71.6% gap on every dollar of revenue. On growth, OLAPLEX HOLDINGS, INC. posted the faster year-over-year revenue change (4.3% vs -0.3%). Over the past eight quarters, OLAPLEX HOLDINGS, INC.'s revenue compounded faster (3.1% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
Olaplex Holdings, Inc. is a specialty beauty company developing and selling patented bond-repair hair care products. It runs three core segments: professional salon distribution, direct-to-consumer sales, and third-party retail, serving customers across North America, Europe, and Asia-Pacific with products that repair and protect damaged hair.
CGC vs OLPX — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $105.1M |
| Net Profit | $-45.7M | $-13.1M |
| Gross Margin | 28.8% | 68.0% |
| Operating Margin | -35.3% | -4.3% |
| Net Margin | -84.0% | -12.5% |
| Revenue YoY | -0.3% | 4.3% |
| Net Profit YoY | 48.6% | -48.9% |
| EPS (diluted) | — | $-0.02 |
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 | $105.1M | ||
| Q3 25 | $48.7M | $114.6M | ||
| Q2 25 | $52.7M | $106.3M | ||
| Q1 25 | $47.5M | $97.0M | ||
| Q4 24 | $54.6M | $100.7M | ||
| Q3 24 | $46.0M | $119.1M | ||
| Q2 24 | $48.3M | $103.9M | ||
| Q1 24 | $53.1M | $98.9M |
| Q4 25 | $-45.7M | $-13.1M | ||
| Q3 25 | $-1.2M | $11.1M | ||
| Q2 25 | $-30.3M | $-7.7M | ||
| Q1 25 | — | $465.0K | ||
| Q4 24 | $-89.0M | $-8.8M | ||
| Q3 24 | $-93.7M | $14.8M | ||
| Q2 24 | $-92.8M | $5.8M | ||
| Q1 24 | — | $7.7M |
| Q4 25 | 28.8% | 68.0% | ||
| Q3 25 | 32.8% | 69.1% | ||
| Q2 25 | 25.0% | 71.2% | ||
| Q1 25 | 16.2% | 69.5% | ||
| Q4 24 | 32.2% | 66.3% | ||
| Q3 24 | 34.7% | 68.6% | ||
| Q2 24 | 34.8% | 69.7% | ||
| Q1 24 | 21.3% | 72.1% |
| Q4 25 | -35.3% | -4.3% | ||
| Q3 25 | -25.3% | 3.7% | ||
| Q2 25 | -31.4% | -1.1% | ||
| Q1 25 | — | 8.7% | ||
| Q4 24 | -31.9% | 3.0% | ||
| Q3 24 | -72.9% | 23.5% | ||
| Q2 24 | -44.0% | 15.7% | ||
| Q1 24 | — | 19.8% |
| Q4 25 | -84.0% | -12.5% | ||
| Q3 25 | -2.5% | 9.7% | ||
| Q2 25 | -57.6% | -7.3% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | -163.0% | -8.7% | ||
| Q3 24 | -203.7% | 12.4% | ||
| Q2 24 | -192.0% | 5.6% | ||
| Q1 24 | — | 7.8% |
| Q4 25 | — | $-0.02 | ||
| Q3 25 | — | $0.02 | ||
| Q2 25 | — | $-0.01 | ||
| Q1 25 | — | $0.00 | ||
| Q4 24 | — | $-0.01 | ||
| Q3 24 | — | $0.02 | ||
| Q2 24 | — | $0.01 | ||
| Q1 24 | — | $0.01 |
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 | $318.7M |
| Total DebtLower is stronger | — | $352.3M |
| Stockholders' EquityBook value | $553.5M | $879.4M |
| Total Assets | $807.5M | $1.5B |
| Debt / EquityLower = less leverage | — | 0.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $318.7M | ||
| Q3 25 | $217.6M | $286.4M | ||
| Q2 25 | $104.8M | $289.3M | ||
| Q1 25 | $96.0M | $580.9M | ||
| Q4 24 | $130.2M | $586.0M | ||
| Q3 24 | $168.8M | $538.8M | ||
| Q2 24 | $142.3M | $507.9M | ||
| Q1 24 | $148.5M | $507.5M |
| Q4 25 | — | $352.3M | ||
| Q3 25 | — | $352.1M | ||
| Q2 25 | — | $351.9M | ||
| Q1 25 | — | $649.1M | ||
| Q4 24 | — | $650.5M | ||
| Q3 24 | — | $651.8M | ||
| Q2 24 | — | $653.1M | ||
| Q1 24 | — | $654.4M |
| Q4 25 | $553.5M | $879.4M | ||
| Q3 25 | $537.3M | $888.7M | ||
| Q2 25 | $357.0M | $874.2M | ||
| Q1 25 | $355.7M | $878.3M | ||
| Q4 24 | $431.8M | $874.4M | ||
| Q3 24 | $372.1M | $879.7M | ||
| Q2 24 | $389.0M | $863.3M | ||
| Q1 24 | $365.3M | $855.7M |
| Q4 25 | $807.5M | $1.5B | ||
| Q3 25 | $781.0M | $1.5B | ||
| Q2 25 | $660.4M | $1.5B | ||
| Q1 25 | $669.9M | $1.8B | ||
| Q4 24 | $849.9M | $1.8B | ||
| Q3 24 | $899.6M | $1.8B | ||
| Q2 24 | $938.9M | $1.8B | ||
| Q1 24 | $949.2M | $1.8B |
| Q4 25 | — | 0.40× | ||
| Q3 25 | — | 0.40× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | — | 0.74× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | — | 0.76× |
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 | — | $32.7M |
| Free Cash FlowOCF − Capex | — | $32.6M |
| FCF MarginFCF / Revenue | — | 31.0% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $58.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $32.7M | ||
| Q3 25 | — | $8.0M | ||
| Q2 25 | $-7.5M | $20.9M | ||
| Q1 25 | $-121.0M | $-2.9M | ||
| Q4 24 | — | $49.7M | ||
| Q3 24 | — | $33.5M | ||
| Q2 24 | $-37.8M | $16.2M | ||
| Q1 24 | $-205.8M | $43.7M |
| Q4 25 | — | $32.6M | ||
| Q3 25 | — | $7.9M | ||
| Q2 25 | $-8.5M | $20.8M | ||
| Q1 25 | $-128.9M | $-3.0M | ||
| Q4 24 | — | $49.2M | ||
| Q3 24 | — | $33.3M | ||
| Q2 24 | $-40.7M | $16.1M | ||
| Q1 24 | $-208.3M | $43.3M |
| Q4 25 | — | 31.0% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | -16.1% | 19.6% | ||
| Q1 25 | -271.5% | -3.1% | ||
| Q4 24 | — | 48.9% | ||
| Q3 24 | — | 28.0% | ||
| Q2 24 | -84.1% | 15.5% | ||
| Q1 24 | -392.1% | 43.7% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | 1.8% | 0.1% | ||
| Q1 25 | 16.6% | 0.0% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | 5.9% | 0.1% | ||
| Q1 24 | 4.7% | 0.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -6.27× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.26× | ||
| Q2 24 | — | 2.81× | ||
| Q1 24 | — | 5.64× |
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% |
OLPX
| Sales Channel Directly To Consumer | $43.6M | 42% |
| Sales Channel Through Intermediary Professional | $36.8M | 35% |
| Sales Channel Through Intermediary Specialty Retail | $24.7M | 23% |
