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Side-by-side financial comparison of Canopy Growth Corp (CGC) and Repay Holdings Corp (RPAY). Click either name above to swap in a different company.
Repay Holdings Corp is the larger business by last-quarter revenue ($78.6M vs $54.4M, roughly 1.4× Canopy Growth Corp). Canopy Growth Corp runs the higher net margin — -84.0% vs -178.3%, a 94.3% gap on every dollar of revenue. On growth, Repay Holdings Corp posted the faster year-over-year revenue change (0.4% vs -0.3%). Over the past eight quarters, Canopy Growth Corp's revenue compounded faster (1.2% CAGR vs -1.3%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
Repay Holdings Corp is a leading payment technology provider delivering integrated end-to-end payment processing solutions for businesses across North America. Its offerings include credit/debit card processing, ACH transfer services, POS system integrations and digital payment tools, serving retail, healthcare, automotive and e-commerce segments to help clients streamline transaction workflows and boost operational efficiency.
CGC vs RPAY — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $78.6M |
| Net Profit | $-45.7M | $-140.1M |
| Gross Margin | 28.8% | 74.2% |
| Operating Margin | -35.3% | -182.2% |
| Net Margin | -84.0% | -178.3% |
| Revenue YoY | -0.3% | 0.4% |
| Net Profit YoY | 48.6% | -3304.1% |
| EPS (diluted) | — | $-1.68 |
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 | $78.6M | ||
| Q3 25 | $48.7M | $77.7M | ||
| Q2 25 | $52.7M | $75.6M | ||
| Q1 25 | $47.5M | $77.3M | ||
| Q4 24 | $54.6M | $78.3M | ||
| Q3 24 | $46.0M | $79.1M | ||
| Q2 24 | $48.3M | $74.9M | ||
| Q1 24 | $53.1M | $80.7M |
| Q4 25 | $-45.7M | $-140.1M | ||
| Q3 25 | $-1.2M | $-6.4M | ||
| Q2 25 | $-30.3M | $-102.3M | ||
| Q1 25 | — | $-7.9M | ||
| Q4 24 | $-89.0M | $-4.1M | ||
| Q3 24 | $-93.7M | $3.2M | ||
| Q2 24 | $-92.8M | $-4.1M | ||
| Q1 24 | — | $-5.2M |
| Q4 25 | 28.8% | 74.2% | ||
| Q3 25 | 32.8% | 74.4% | ||
| Q2 25 | 25.0% | 75.7% | ||
| Q1 25 | 16.2% | 75.9% | ||
| Q4 24 | 32.2% | 76.3% | ||
| Q3 24 | 34.7% | 77.8% | ||
| Q2 24 | 34.8% | 78.2% | ||
| Q1 24 | 21.3% | 76.2% |
| Q4 25 | -35.3% | -182.2% | ||
| Q3 25 | -25.3% | -3.9% | ||
| Q2 25 | -31.4% | -138.7% | ||
| Q1 25 | — | -4.7% | ||
| Q4 24 | -31.9% | -1.5% | ||
| Q3 24 | -72.9% | -0.9% | ||
| Q2 24 | -44.0% | -4.6% | ||
| Q1 24 | — | -3.1% |
| Q4 25 | -84.0% | -178.3% | ||
| Q3 25 | -2.5% | -8.3% | ||
| Q2 25 | -57.6% | -135.2% | ||
| Q1 25 | — | -10.3% | ||
| Q4 24 | -163.0% | -5.3% | ||
| Q3 24 | -203.7% | 4.1% | ||
| Q2 24 | -192.0% | -5.4% | ||
| Q1 24 | — | -6.5% |
| Q4 25 | — | $-1.68 | ||
| Q3 25 | — | $-0.08 | ||
| Q2 25 | — | $-1.15 | ||
| Q1 25 | — | $-0.09 | ||
| Q4 24 | — | $-0.04 | ||
| Q3 24 | — | $0.03 | ||
| Q2 24 | — | $-0.04 | ||
| Q1 24 | — | $-0.06 |
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 | $115.7M |
| Total DebtLower is stronger | — | $280.1M |
| Stockholders' EquityBook value | $553.5M | $484.4M |
| Total Assets | $807.5M | $1.2B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $115.7M | ||
| Q3 25 | $217.6M | $95.7M | ||
| Q2 25 | $104.8M | $162.6M | ||
| Q1 25 | $96.0M | $165.5M | ||
| Q4 24 | $130.2M | $189.5M | ||
| Q3 24 | $168.8M | $168.7M | ||
| Q2 24 | $142.3M | $147.1M | ||
| Q1 24 | $148.5M | $128.3M |
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
| Q4 25 | $553.5M | $484.4M | ||
| Q3 25 | $537.3M | $616.9M | ||
| Q2 25 | $357.0M | $633.7M | ||
| Q1 25 | $355.7M | $755.7M | ||
| Q4 24 | $431.8M | $761.3M | ||
| Q3 24 | $372.1M | $754.7M | ||
| Q2 24 | $389.0M | $815.4M | ||
| Q1 24 | $365.3M | $813.8M |
| Q4 25 | $807.5M | $1.2B | ||
| Q3 25 | $781.0M | $1.3B | ||
| Q2 25 | $660.4M | $1.4B | ||
| Q1 25 | $669.9M | $1.5B | ||
| Q4 24 | $849.9M | $1.6B | ||
| Q3 24 | $899.6M | $1.6B | ||
| Q2 24 | $938.9M | $1.5B | ||
| Q1 24 | $949.2M | $1.5B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | — | $23.3M |
| Free Cash FlowOCF − Capex | — | $23.2M |
| FCF MarginFCF / Revenue | — | 29.6% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.3M | ||
| Q3 25 | — | $32.2M | ||
| Q2 25 | $-7.5M | $33.1M | ||
| Q1 25 | $-121.0M | $2.5M | ||
| Q4 24 | — | $34.3M | ||
| Q3 24 | — | $60.1M | ||
| Q2 24 | $-37.8M | $31.0M | ||
| Q1 24 | $-205.8M | $24.8M |
| Q4 25 | — | $23.2M | ||
| Q3 25 | — | $32.1M | ||
| Q2 25 | $-8.5M | $33.0M | ||
| Q1 25 | $-128.9M | $2.4M | ||
| Q4 24 | — | $34.0M | ||
| Q3 24 | — | $59.8M | ||
| Q2 24 | $-40.7M | $30.5M | ||
| Q1 24 | $-208.3M | $24.7M |
| Q4 25 | — | 29.6% | ||
| Q3 25 | — | 41.3% | ||
| Q2 25 | -16.1% | 43.6% | ||
| Q1 25 | -271.5% | 3.0% | ||
| Q4 24 | — | 43.5% | ||
| Q3 24 | — | 75.6% | ||
| Q2 24 | -84.1% | 40.7% | ||
| Q1 24 | -392.1% | 30.6% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | 1.8% | 0.1% | ||
| Q1 25 | 16.6% | 0.2% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | 5.9% | 0.6% | ||
| Q1 24 | 4.7% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
