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Side-by-side financial comparison of Canopy Growth Corp (CGC) and OneSpan Inc. (OSPN). Click either name above to swap in a different company.
OneSpan Inc. is the larger business by last-quarter revenue ($65.9M vs $54.4M, roughly 1.2× Canopy Growth Corp). OneSpan Inc. runs the higher net margin — 17.5% vs -84.0%, a 101.6% gap on every dollar of revenue. On growth, OneSpan Inc. posted the faster year-over-year revenue change (4.1% vs -0.3%). Over the past eight quarters, OneSpan Inc.'s revenue compounded faster (4.0% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
OneSpan Inc. is an information security company based in Boston, Massachusetts. Services include an internet fraud prevention platform, multi-factor authentication tools and electronic signature software.
CGC vs OSPN — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $65.9M |
| Net Profit | $-45.7M | $11.6M |
| Gross Margin | 28.8% | 73.6% |
| Operating Margin | -35.3% | 22.5% |
| Net Margin | -84.0% | 17.5% |
| Revenue YoY | -0.3% | 4.1% |
| Net Profit YoY | 48.6% | — |
| EPS (diluted) | — | $0.39 |
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.
| Q1 26 | — | $65.9M | ||
| Q4 25 | $54.4M | $62.9M | ||
| Q3 25 | $48.7M | $57.1M | ||
| Q2 25 | $52.7M | $59.8M | ||
| Q1 25 | $47.5M | $63.4M | ||
| Q4 24 | $54.6M | $61.2M | ||
| Q3 24 | $46.0M | $56.2M | ||
| Q2 24 | $48.3M | $60.9M |
| Q1 26 | — | $11.6M | ||
| Q4 25 | $-45.7M | $43.5M | ||
| Q3 25 | $-1.2M | $6.5M | ||
| Q2 25 | $-30.3M | $8.3M | ||
| Q1 25 | — | $14.5M | ||
| Q4 24 | $-89.0M | $28.8M | ||
| Q3 24 | $-93.7M | $8.3M | ||
| Q2 24 | $-92.8M | $6.6M |
| Q1 26 | — | 73.6% | ||
| Q4 25 | 28.8% | 73.6% | ||
| Q3 25 | 32.8% | 73.6% | ||
| Q2 25 | 25.0% | 73.5% | ||
| Q1 25 | 16.2% | 74.3% | ||
| Q4 24 | 32.2% | 74.0% | ||
| Q3 24 | 34.7% | 73.9% | ||
| Q2 24 | 34.8% | 66.2% |
| Q1 26 | — | 22.5% | ||
| Q4 25 | -35.3% | 19.9% | ||
| Q3 25 | -25.3% | 14.4% | ||
| Q2 25 | -31.4% | 17.6% | ||
| Q1 25 | — | 27.1% | ||
| Q4 24 | -31.9% | 19.3% | ||
| Q3 24 | -72.9% | 20.0% | ||
| Q2 24 | -44.0% | 12.5% |
| Q1 26 | — | 17.5% | ||
| Q4 25 | -84.0% | 69.2% | ||
| Q3 25 | -2.5% | 11.4% | ||
| Q2 25 | -57.6% | 13.9% | ||
| Q1 25 | — | 22.9% | ||
| Q4 24 | -163.0% | 47.1% | ||
| Q3 24 | -203.7% | 14.7% | ||
| Q2 24 | -192.0% | 10.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | — | $1.13 | ||
| Q3 25 | — | $0.17 | ||
| Q2 25 | — | $0.21 | ||
| Q1 25 | — | $0.37 | ||
| Q4 24 | — | $0.73 | ||
| Q3 24 | — | $0.21 | ||
| Q2 24 | — | $0.17 |
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 | $49.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $553.5M | $272.0M |
| Total Assets | $807.5M | $383.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $49.8M | ||
| Q4 25 | $271.1M | $70.5M | ||
| Q3 25 | $217.6M | $85.6M | ||
| Q2 25 | $104.8M | $92.9M | ||
| Q1 25 | $96.0M | $105.2M | ||
| Q4 24 | $130.2M | $83.2M | ||
| Q3 24 | $168.8M | $77.5M | ||
| Q2 24 | $142.3M | $63.8M |
| Q1 26 | — | $272.0M | ||
| Q4 25 | $553.5M | $271.8M | ||
| Q3 25 | $537.3M | $238.3M | ||
| Q2 25 | $357.0M | $242.5M | ||
| Q1 25 | $355.7M | $231.1M | ||
| Q4 24 | $431.8M | $212.5M | ||
| Q3 24 | $372.1M | $194.6M | ||
| Q2 24 | $389.0M | $178.6M |
| Q1 26 | — | $383.1M | ||
| Q4 25 | $807.5M | $397.7M | ||
| Q3 25 | $781.0M | $343.5M | ||
| Q2 25 | $660.4M | $357.1M | ||
| Q1 25 | $669.9M | $333.8M | ||
| Q4 24 | $849.9M | $338.7M | ||
| Q3 24 | $899.6M | $289.3M | ||
| Q2 24 | $938.9M | $286.9M |
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 | — | $28.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $28.2M | ||
| Q4 25 | — | $12.6M | ||
| Q3 25 | — | $11.3M | ||
| Q2 25 | $-7.5M | $6.2M | ||
| Q1 25 | $-121.0M | $29.4M | ||
| Q4 24 | — | $12.4M | ||
| Q3 24 | — | $14.0M | ||
| Q2 24 | $-37.8M | $2.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $9.6M | ||
| Q3 25 | — | $8.8M | ||
| Q2 25 | $-8.5M | $4.4M | ||
| Q1 25 | $-128.9M | $27.7M | ||
| Q4 24 | — | $10.5M | ||
| Q3 24 | — | $12.0M | ||
| Q2 24 | $-40.7M | $26.0K |
| Q1 26 | — | — | ||
| Q4 25 | — | 15.3% | ||
| Q3 25 | — | 15.4% | ||
| Q2 25 | -16.1% | 7.3% | ||
| Q1 25 | -271.5% | 43.8% | ||
| Q4 24 | — | 17.1% | ||
| Q3 24 | — | 21.4% | ||
| Q2 24 | -84.1% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.7% | ||
| Q3 25 | — | 4.4% | ||
| Q2 25 | 1.8% | 3.1% | ||
| Q1 25 | 16.6% | 2.6% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 3.5% | ||
| Q2 24 | 5.9% | 3.7% |
| Q1 26 | — | 2.44× | ||
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | 1.74× | ||
| Q2 25 | — | 0.75× | ||
| Q1 25 | — | 2.02× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 1.69× | ||
| Q2 24 | — | 0.35× |
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% |
OSPN
| Product and license | $35.5M | 54% |
| Services and other | $30.4M | 46% |
