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Side-by-side financial comparison of Canopy Growth Corp (CGC) and USANA HEALTH SCIENCES INC (USNA). Click either name above to swap in a different company.
USANA HEALTH SCIENCES INC is the larger business by last-quarter revenue ($213.7M vs $54.4M, roughly 3.9× Canopy Growth Corp). USANA HEALTH SCIENCES INC runs the higher net margin — -3.1% vs -84.0%, a 81.0% gap on every dollar of revenue. On growth, USANA HEALTH SCIENCES INC posted the faster year-over-year revenue change (6.7% vs -0.3%). Over the past eight quarters, Canopy Growth Corp's revenue compounded faster (1.2% CAGR vs -1.7%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
Usana Health Sciences, Inc., or USANA, is an American multi-level marketing company based in Salt Lake City, Utah. As of 2021, Usana was the 14th largest direct-selling company in the world by revenue. The company manufactures most of its nutritional products, dietary supplements, and skincare products at a Salt Lake City facility. Its products are sold in 24 countries via a network of independent distributors.
CGC vs USNA — Head-to-Head
Income Statement — Q3 2026 vs Q3 2026
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $213.7M |
| Net Profit | $-45.7M | $-6.5M |
| Gross Margin | 28.8% | 77.2% |
| Operating Margin | -35.3% | 0.6% |
| Net Margin | -84.0% | -3.1% |
| Revenue YoY | -0.3% | 6.7% |
| Net Profit YoY | 48.6% | -161.5% |
| EPS (diluted) | — | $-0.36 |
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 | — | ||
| Q3 25 | $48.7M | $213.7M | ||
| Q2 25 | $52.7M | $235.8M | ||
| Q1 25 | $47.5M | $249.5M | ||
| Q4 24 | $54.6M | $213.6M | ||
| Q3 24 | $46.0M | $200.2M | ||
| Q2 24 | $48.3M | $212.9M | ||
| Q1 24 | $53.1M | $227.8M |
| Q4 25 | $-45.7M | — | ||
| Q3 25 | $-1.2M | $-6.5M | ||
| Q2 25 | $-30.3M | $9.7M | ||
| Q1 25 | — | $9.4M | ||
| Q4 24 | $-89.0M | $4.5M | ||
| Q3 24 | $-93.7M | $10.6M | ||
| Q2 24 | $-92.8M | $10.4M | ||
| Q1 24 | — | $16.5M |
| Q4 25 | 28.8% | — | ||
| Q3 25 | 32.8% | 77.2% | ||
| Q2 25 | 25.0% | 78.7% | ||
| Q1 25 | 16.2% | 79.0% | ||
| Q4 24 | 32.2% | 82.0% | ||
| Q3 24 | 34.7% | 80.4% | ||
| Q2 24 | 34.8% | 81.1% | ||
| Q1 24 | 21.3% | 81.1% |
| Q4 25 | -35.3% | — | ||
| Q3 25 | -25.3% | 0.6% | ||
| Q2 25 | -31.4% | 7.1% | ||
| Q1 25 | — | 6.3% | ||
| Q4 24 | -31.9% | 3.8% | ||
| Q3 24 | -72.9% | 7.8% | ||
| Q2 24 | -44.0% | 8.4% | ||
| Q1 24 | — | 10.8% |
| Q4 25 | -84.0% | — | ||
| Q3 25 | -2.5% | -3.1% | ||
| Q2 25 | -57.6% | 4.1% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | -163.0% | 2.1% | ||
| Q3 24 | -203.7% | 5.3% | ||
| Q2 24 | -192.0% | 4.9% | ||
| Q1 24 | — | 7.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | $-0.36 | ||
| Q2 25 | — | $0.52 | ||
| Q1 25 | — | $0.49 | ||
| Q4 24 | — | $0.23 | ||
| Q3 24 | — | $0.56 | ||
| Q2 24 | — | $0.54 | ||
| Q1 24 | — | $0.86 |
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 | $145.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $553.5M | $528.1M |
| Total Assets | $807.5M | $726.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | — | ||
| Q3 25 | $217.6M | $145.3M | ||
| Q2 25 | $104.8M | $151.3M | ||
| Q1 25 | $96.0M | $179.6M | ||
| Q4 24 | $130.2M | $181.8M | ||
| Q3 24 | $168.8M | $364.9M | ||
| Q2 24 | $142.3M | $332.4M | ||
| Q1 24 | $148.5M | $328.3M |
| Q4 25 | $553.5M | — | ||
| Q3 25 | $537.3M | $528.1M | ||
| Q2 25 | $357.0M | $531.1M | ||
| Q1 25 | $355.7M | $529.8M | ||
| Q4 24 | $431.8M | $532.1M | ||
| Q3 24 | $372.1M | $533.1M | ||
| Q2 24 | $389.0M | $512.2M | ||
| Q1 24 | $365.3M | $500.0M |
| Q4 25 | $807.5M | — | ||
| Q3 25 | $781.0M | $726.6M | ||
| Q2 25 | $660.4M | $734.5M | ||
| Q1 25 | $669.9M | $746.6M | ||
| Q4 24 | $849.9M | $748.2M | ||
| Q3 24 | $899.6M | $671.3M | ||
| Q2 24 | $938.9M | $631.4M | ||
| Q1 24 | $949.2M | $629.3M |
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 | — | $-2.0M |
| Free Cash FlowOCF − Capex | — | $-5.2M |
| FCF MarginFCF / Revenue | — | -2.4% |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $18.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | $-2.0M | ||
| Q2 25 | $-7.5M | $12.2M | ||
| Q1 25 | $-121.0M | $15.5M | ||
| Q4 24 | — | $5.8M | ||
| Q3 24 | — | $29.5M | ||
| Q2 24 | $-37.8M | $8.0M | ||
| Q1 24 | $-205.8M | $17.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | $-5.2M | ||
| Q2 25 | $-8.5M | $7.2M | ||
| Q1 25 | $-128.9M | $12.7M | ||
| Q4 24 | — | $4.0M | ||
| Q3 24 | — | $27.1M | ||
| Q2 24 | $-40.7M | $5.3M | ||
| Q1 24 | $-208.3M | $14.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | -2.4% | ||
| Q2 25 | -16.1% | 3.0% | ||
| Q1 25 | -271.5% | 5.1% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 13.6% | ||
| Q2 24 | -84.1% | 2.5% | ||
| Q1 24 | -392.1% | 6.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | 1.8% | 2.1% | ||
| Q1 25 | 16.6% | 1.1% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | 5.9% | 1.3% | ||
| Q1 24 | 4.7% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.27× | ||
| Q1 25 | — | 1.65× | ||
| Q4 24 | — | 1.29× | ||
| Q3 24 | — | 2.78× | ||
| Q2 24 | — | 0.77× | ||
| Q1 24 | — | 1.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CGC
| CA | $45.4M | 84% |
| International Markets Cannabis | $6.2M | 11% |
| Other | $1.5M | 3% |
| Other Geographical Area | $1.2M | 2% |
USNA
| Direct Selling | $175.8M | 82% |
| Hiya | $30.8M | 14% |
| All Other | $7.0M | 3% |
