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Side-by-side financial comparison of Canopy Growth Corp (CGC) and ThredUp Inc. (TDUP). Click either name above to swap in a different company.
ThredUp Inc. is the larger business by last-quarter revenue ($81.7M vs $54.4M, roughly 1.5× Canopy Growth Corp). ThredUp Inc. runs the higher net margin — -7.9% vs -84.0%, a 76.1% gap on every dollar of revenue. On growth, ThredUp Inc. posted the faster year-over-year revenue change (14.6% vs -0.3%). Over the past eight quarters, ThredUp Inc.'s revenue compounded faster (10.6% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
ThredUp Inc. is an American company that operates an online resale platform specializing in the sale of second-hand clothing, footwear, and accessories. Founded in 2009 and headquartered in Oakland, California, it has established itself as one of the leading resale fashion marketplaces.
CGC vs TDUP — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $81.7M |
| Net Profit | $-45.7M | $-6.5M |
| Gross Margin | 28.8% | 79.2% |
| Operating Margin | -35.3% | 12.8% |
| Net Margin | -84.0% | -7.9% |
| Revenue YoY | -0.3% | 14.6% |
| Net Profit YoY | 48.6% | -24.1% |
| EPS (diluted) | — | $-0.05 |
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 | — | $81.7M | ||
| Q4 25 | $54.4M | $79.7M | ||
| Q3 25 | $48.7M | $82.2M | ||
| Q2 25 | $52.7M | $77.7M | ||
| Q1 25 | $47.5M | $71.3M | ||
| Q4 24 | $54.6M | $67.3M | ||
| Q3 24 | $46.0M | $61.5M | ||
| Q2 24 | $48.3M | $66.7M |
| Q1 26 | — | $-6.5M | ||
| Q4 25 | $-45.7M | $-5.6M | ||
| Q3 25 | $-1.2M | $-4.2M | ||
| Q2 25 | $-30.3M | $-5.2M | ||
| Q1 25 | — | $-5.2M | ||
| Q4 24 | $-89.0M | $-21.7M | ||
| Q3 24 | $-93.7M | $-24.8M | ||
| Q2 24 | $-92.8M | $-14.0M |
| Q1 26 | — | 79.2% | ||
| Q4 25 | 28.8% | 79.6% | ||
| Q3 25 | 32.8% | 79.4% | ||
| Q2 25 | 25.0% | 79.5% | ||
| Q1 25 | 16.2% | 79.1% | ||
| Q4 24 | 32.2% | 80.4% | ||
| Q3 24 | 34.7% | 79.3% | ||
| Q2 24 | 34.8% | 78.8% |
| Q1 26 | — | 12.8% | ||
| Q4 25 | -35.3% | -8.4% | ||
| Q3 25 | -25.3% | -5.3% | ||
| Q2 25 | -31.4% | -6.8% | ||
| Q1 25 | — | -7.6% | ||
| Q4 24 | -31.9% | -12.1% | ||
| Q3 24 | -72.9% | -17.0% | ||
| Q2 24 | -44.0% | -14.4% |
| Q1 26 | — | -7.9% | ||
| Q4 25 | -84.0% | -7.0% | ||
| Q3 25 | -2.5% | -5.2% | ||
| Q2 25 | -57.6% | -6.7% | ||
| Q1 25 | — | -7.3% | ||
| Q4 24 | -163.0% | -32.3% | ||
| Q3 24 | -203.7% | -40.3% | ||
| Q2 24 | -192.0% | -20.9% |
| Q1 26 | — | $-0.05 | ||
| Q4 25 | — | $-0.06 | ||
| Q3 25 | — | $-0.03 | ||
| Q2 25 | — | $-0.04 | ||
| Q1 25 | — | $-0.04 | ||
| Q4 24 | — | $-0.19 | ||
| Q3 24 | — | $-0.22 | ||
| Q2 24 | — | $-0.13 |
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 | $39.0M |
| Total DebtLower is stronger | — | $17.7M |
| Stockholders' EquityBook value | $553.5M | $59.4M |
| Total Assets | $807.5M | $172.4M |
| Debt / EquityLower = less leverage | — | 0.30× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $39.0M | ||
| Q4 25 | $271.1M | $38.6M | ||
| Q3 25 | $217.6M | $46.2M | ||
| Q2 25 | $104.8M | $41.0M | ||
| Q1 25 | $96.0M | $41.1M | ||
| Q4 24 | $130.2M | $31.9M | ||
| Q3 24 | $168.8M | $43.7M | ||
| Q2 24 | $142.3M | $44.8M |
| Q1 26 | — | $17.7M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $59.4M | ||
| Q4 25 | $553.5M | $59.2M | ||
| Q3 25 | $537.3M | $59.1M | ||
| Q2 25 | $357.0M | $60.2M | ||
| Q1 25 | $355.7M | $56.1M | ||
| Q4 24 | $431.8M | $56.3M | ||
| Q3 24 | $372.1M | $69.3M | ||
| Q2 24 | $389.0M | $86.5M |
| Q1 26 | — | $172.4M | ||
| Q4 25 | $807.5M | $167.2M | ||
| Q3 25 | $781.0M | $172.5M | ||
| Q2 25 | $660.4M | $173.6M | ||
| Q1 25 | $669.9M | $172.5M | ||
| Q4 24 | $849.9M | $171.2M | ||
| Q3 24 | $899.6M | $214.9M | ||
| Q2 24 | $938.9M | $231.2M |
| Q1 26 | — | 0.30× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $4.8M |
| 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.
| Q1 26 | — | $4.8M | ||
| Q4 25 | — | $-1.5M | ||
| Q3 25 | — | $6.0M | ||
| Q2 25 | $-7.5M | $344.0K | ||
| Q1 25 | $-121.0M | $5.7M | ||
| Q4 24 | — | $663.0K | ||
| Q3 24 | — | $3.3M | ||
| Q2 24 | $-37.8M | $-5.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-3.2M | ||
| Q3 25 | — | $2.4M | ||
| Q2 25 | $-8.5M | $-2.9M | ||
| Q1 25 | $-128.9M | $3.9M | ||
| Q4 24 | — | $-1.8M | ||
| Q3 24 | — | $1.2M | ||
| Q2 24 | $-40.7M | $-5.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | -4.0% | ||
| Q3 25 | — | 2.9% | ||
| Q2 25 | -16.1% | -3.8% | ||
| Q1 25 | -271.5% | 5.5% | ||
| Q4 24 | — | -2.7% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | -84.1% | -8.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | 4.4% | ||
| Q2 25 | 1.8% | 4.2% | ||
| Q1 25 | 16.6% | 2.5% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | 3.5% | ||
| Q2 24 | 5.9% | 1.3% |
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% |
TDUP
Segment breakdown not available.
