vs
Side-by-side financial comparison of Canopy Growth Corp (CGC) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Canopy Growth Corp is the larger business by last-quarter revenue ($54.4M vs $51.6M, roughly 1.1× Velocity Financial, Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs -84.0%, a 151.4% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs -0.3%). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% CAGR vs 1.2%).
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a cannabis company based in Smiths Falls, Ontario.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
CGC vs VEL — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $54.4M | $51.6M |
| Net Profit | $-45.7M | $34.8M |
| Gross Margin | 28.8% | — |
| Operating Margin | -35.3% | 97.0% |
| Net Margin | -84.0% | 67.3% |
| Revenue YoY | -0.3% | 32.8% |
| Net Profit YoY | 48.6% | 67.0% |
| EPS (diluted) | — | $0.90 |
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 | $51.6M | ||
| Q3 25 | $48.7M | $49.1M | ||
| Q2 25 | $52.7M | $47.6M | ||
| Q1 25 | $47.5M | $37.5M | ||
| Q4 24 | $54.6M | $38.9M | ||
| Q3 24 | $46.0M | $35.1M | ||
| Q2 24 | $48.3M | $32.4M | ||
| Q1 24 | $53.1M | $29.5M |
| Q4 25 | $-45.7M | $34.8M | ||
| Q3 25 | $-1.2M | $25.4M | ||
| Q2 25 | $-30.3M | $26.0M | ||
| Q1 25 | — | $18.9M | ||
| Q4 24 | $-89.0M | $20.8M | ||
| Q3 24 | $-93.7M | $15.8M | ||
| Q2 24 | $-92.8M | $14.8M | ||
| Q1 24 | — | $17.3M |
| Q4 25 | 28.8% | — | ||
| Q3 25 | 32.8% | — | ||
| Q2 25 | 25.0% | — | ||
| Q1 25 | 16.2% | — | ||
| Q4 24 | 32.2% | — | ||
| Q3 24 | 34.7% | — | ||
| Q2 24 | 34.8% | — | ||
| Q1 24 | 21.3% | — |
| Q4 25 | -35.3% | 97.0% | ||
| Q3 25 | -25.3% | 72.1% | ||
| Q2 25 | -31.4% | 71.3% | ||
| Q1 25 | — | 71.7% | ||
| Q4 24 | -31.9% | 82.5% | ||
| Q3 24 | -72.9% | 60.6% | ||
| Q2 24 | -44.0% | 61.3% | ||
| Q1 24 | — | 78.8% |
| Q4 25 | -84.0% | 67.3% | ||
| Q3 25 | -2.5% | 51.7% | ||
| Q2 25 | -57.6% | 54.6% | ||
| Q1 25 | — | 50.4% | ||
| Q4 24 | -163.0% | 53.5% | ||
| Q3 24 | -203.7% | 45.1% | ||
| Q2 24 | -192.0% | 45.6% | ||
| Q1 24 | — | 58.5% |
| Q4 25 | — | $0.90 | ||
| Q3 25 | — | $0.65 | ||
| Q2 25 | — | $0.69 | ||
| Q1 25 | — | $0.51 | ||
| Q4 24 | — | $0.56 | ||
| Q3 24 | — | $0.44 | ||
| Q2 24 | — | $0.42 | ||
| Q1 24 | — | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $553.5M | $672.5M |
| Total Assets | $807.5M | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $271.1M | $92.1M | ||
| Q3 25 | $217.6M | $99.0M | ||
| Q2 25 | $104.8M | $79.6M | ||
| Q1 25 | $96.0M | $51.7M | ||
| Q4 24 | $130.2M | $49.9M | ||
| Q3 24 | $168.8M | $44.1M | ||
| Q2 24 | $142.3M | $47.4M | ||
| Q1 24 | $148.5M | $34.8M |
| Q4 25 | $553.5M | $672.5M | ||
| Q3 25 | $537.3M | $634.3M | ||
| Q2 25 | $357.0M | $597.9M | ||
| Q1 25 | $355.7M | $563.2M | ||
| Q4 24 | $431.8M | $516.9M | ||
| Q3 24 | $372.1M | $484.6M | ||
| Q2 24 | $389.0M | $471.3M | ||
| Q1 24 | $365.3M | $452.9M |
| Q4 25 | $807.5M | $7.4B | ||
| Q3 25 | $781.0M | $7.0B | ||
| Q2 25 | $660.4M | $6.5B | ||
| Q1 25 | $669.9M | $6.0B | ||
| Q4 24 | $849.9M | $5.5B | ||
| Q3 24 | $899.6M | $5.2B | ||
| Q2 24 | $938.9M | $4.9B | ||
| Q1 24 | $949.2M | $4.6B |
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 | — | $18.2M |
| Free Cash FlowOCF − Capex | — | $17.9M |
| FCF MarginFCF / Revenue | — | 34.6% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | — | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $18.2M | ||
| Q3 25 | — | $11.5M | ||
| Q2 25 | $-7.5M | $7.7M | ||
| Q1 25 | $-121.0M | $3.5M | ||
| Q4 24 | — | $37.8M | ||
| Q3 24 | — | $-17.6M | ||
| Q2 24 | $-37.8M | $11.5M | ||
| Q1 24 | $-205.8M | $10.6M |
| Q4 25 | — | $17.9M | ||
| Q3 25 | — | $11.4M | ||
| Q2 25 | $-8.5M | $7.6M | ||
| Q1 25 | $-128.9M | $3.5M | ||
| Q4 24 | — | $37.5M | ||
| Q3 24 | — | $-17.6M | ||
| Q2 24 | $-40.7M | $11.4M | ||
| Q1 24 | $-208.3M | $10.5M |
| Q4 25 | — | 34.6% | ||
| Q3 25 | — | 23.2% | ||
| Q2 25 | -16.1% | 15.9% | ||
| Q1 25 | -271.5% | 9.2% | ||
| Q4 24 | — | 96.4% | ||
| Q3 24 | — | -50.3% | ||
| Q2 24 | -84.1% | 35.1% | ||
| Q1 24 | -392.1% | 35.8% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | 1.8% | 0.2% | ||
| Q1 25 | 16.6% | 0.2% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | 5.9% | 0.3% | ||
| Q1 24 | 4.7% | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | -1.11× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.61× |
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% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
