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Side-by-side financial comparison of Canopy Growth Corp (CGC) and SolarMax Technology, Inc. (SMXT). Click either name above to swap in a different company.
Canopy Growth Corp is the larger business by last-quarter revenue ($54.4M vs $46.6M, roughly 1.2× SolarMax Technology, Inc.). SolarMax Technology, Inc. runs the higher net margin — -1.9% vs -84.0%, a 82.1% gap on every dollar of revenue. On growth, SolarMax Technology, Inc. posted the faster year-over-year revenue change (623.5% vs -0.3%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
SolarMax Technology, Inc. develops, manufactures and sells high-efficiency solar PV modules and clean energy systems. It serves residential, commercial and industrial clients in North America and key Asia-Pacific markets, offering installation and after-sales support to boost low-carbon energy use.
CGC vs SMXT — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $46.6M |
| Net Profit | $-45.7M | $-872.2K |
| Gross Margin | 28.8% | 2.7% |
| Operating Margin | -35.3% | -2.7% |
| Net Margin | -84.0% | -1.9% |
| Revenue YoY | -0.3% | 623.5% |
| Net Profit YoY | 48.6% | 77.7% |
| 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 | $46.6M | ||
| Q3 25 | $48.7M | $30.6M | ||
| Q2 25 | $52.7M | $6.9M | ||
| Q1 25 | $47.5M | $6.9M | ||
| Q4 24 | $54.6M | $6.4M | ||
| Q3 24 | $46.0M | $6.3M | ||
| Q2 24 | $48.3M | — | ||
| Q1 24 | $53.1M | — |
| Q4 25 | $-45.7M | $-872.2K | ||
| Q3 25 | $-1.2M | $-2.3M | ||
| Q2 25 | $-30.3M | $-1.9M | ||
| Q1 25 | — | $-1.3M | ||
| Q4 24 | $-89.0M | $-3.9M | ||
| Q3 24 | $-93.7M | $-9.6M | ||
| Q2 24 | $-92.8M | — | ||
| Q1 24 | — | — |
| Q4 25 | 28.8% | 2.7% | ||
| Q3 25 | 32.8% | 3.1% | ||
| Q2 25 | 25.0% | 8.8% | ||
| Q1 25 | 16.2% | 20.5% | ||
| Q4 24 | 32.2% | 14.5% | ||
| Q3 24 | 34.7% | 19.9% | ||
| Q2 24 | 34.8% | — | ||
| Q1 24 | 21.3% | — |
| Q4 25 | -35.3% | -2.7% | ||
| Q3 25 | -25.3% | -6.9% | ||
| Q2 25 | -31.4% | -25.7% | ||
| Q1 25 | — | -16.7% | ||
| Q4 24 | -31.9% | -27.9% | ||
| Q3 24 | -72.9% | -158.4% | ||
| Q2 24 | -44.0% | — | ||
| Q1 24 | — | — |
| Q4 25 | -84.0% | -1.9% | ||
| Q3 25 | -2.5% | -7.4% | ||
| Q2 25 | -57.6% | -27.6% | ||
| Q1 25 | — | -18.7% | ||
| Q4 24 | -163.0% | -60.6% | ||
| Q3 24 | -203.7% | -152.0% | ||
| Q2 24 | -192.0% | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $-0.02 | ||
| Q3 25 | — | $-0.04 | ||
| Q2 25 | — | $-0.04 | ||
| Q1 25 | — | $-0.03 | ||
| Q4 24 | — | $-0.07 | ||
| Q3 24 | — | $-0.21 | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $8.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $553.5M | $-12.2M |
| Total Assets | $807.5M | $91.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $8.0M | ||
| Q3 25 | $217.6M | $5.7M | ||
| Q2 25 | $104.8M | $1.9M | ||
| Q1 25 | $96.0M | $6.8M | ||
| Q4 24 | $130.2M | $7.1M | ||
| Q3 24 | $168.8M | $8.6M | ||
| Q2 24 | $142.3M | — | ||
| Q1 24 | $148.5M | — |
| Q4 25 | $553.5M | $-12.2M | ||
| Q3 25 | $537.3M | $-11.8M | ||
| Q2 25 | $357.0M | $-15.1M | ||
| Q1 25 | $355.7M | $-15.9M | ||
| Q4 24 | $431.8M | $-15.1M | ||
| Q3 24 | $372.1M | $-10.9M | ||
| Q2 24 | $389.0M | — | ||
| Q1 24 | $365.3M | — |
| Q4 25 | $807.5M | $91.3M | ||
| Q3 25 | $781.0M | $58.7M | ||
| Q2 25 | $660.4M | $38.2M | ||
| Q1 25 | $669.9M | $38.6M | ||
| Q4 24 | $849.9M | $38.6M | ||
| Q3 24 | $899.6M | $43.0M | ||
| Q2 24 | $938.9M | — | ||
| Q1 24 | $949.2M | — |
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 | — | $-2.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-2.5M | ||
| Q3 25 | — | $3.4M | ||
| Q2 25 | $-7.5M | $220.7K | ||
| Q1 25 | $-121.0M | $-601.1K | ||
| Q4 24 | — | $-1.3M | ||
| Q3 24 | — | $203.6K | ||
| Q2 24 | $-37.8M | — | ||
| Q1 24 | $-205.8M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-8.5M | — | ||
| Q1 25 | $-128.9M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-40.7M | — | ||
| Q1 24 | $-208.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -16.1% | — | ||
| Q1 25 | -271.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -84.1% | — | ||
| Q1 24 | -392.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 16.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | 5.9% | — | ||
| Q1 24 | 4.7% | — |
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% |
SMXT
| Yabucoa | $35.9M | 77% |
| Other | $10.7M | 23% |
