Canopy Growth Corporation
- Open
- 0.99
- Day high
- 1.00
- Day low
- 0.98
- Prev close
- 1.00
- Volume
- 1.7M
- Mkt cap
- $421M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.8
- P/S
- 1.8
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$262K over the last 3 months (0 open-market buys, 9 sales)
- 🏛Institutions accumulating (13F)
Canopy Growth Corporation (CGC) is a Healthcare company listed on NASDAQ. The stock is down 33% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 9 sales (SEC Form 4). Drillr has 1 published research article covering CGC.
Canopy Growth Corporation (CGC) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CGC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 7, 2026 | $-0.04 | $-0.02 | +50.0% | $57M | -2.9% |
| Jun 15, 2026 | $-0.06 | $-0.17 | -183.3% | $51M | -4.4% |
| Feb 6, 2026 | $-0.03 | $-0.10 | -233.3% | $90M | +24.1% |
| Nov 7, 2025 | $-0.11 | $-0.01 | +90.9% | $67M | -4.2% |
| Aug 8, 2025 | $-0.15 | $-0.14 | +6.7% | $53M | -24.2% |
| May 30, 2025 | $-0.10 | $-0.94 | -840.0% | $45M | -33.7% |
| Feb 7, 2025 | $-0.38 | $-0.76 | -100.0% | $52M | -27.9% |
| Nov 8, 2024 | $-0.38 | $-0.95 | -150.0% | $47M | -1.4% |
| Aug 9, 2024 | $-0.31 | $-0.37 | -19.4% | $48M | -4.5% |
| May 30, 2024 | $-0.33 | $-0.28 | +15.2% | $54M | +1.0% |
| Feb 9, 2024 | $-0.45 | $-1.79 | -297.8% | $59M | +11.4% |
| Nov 9, 2023 | $-1.20 | $-1.80 | -50.0% | $51M | -24.5% |
CGC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 25, 2026 | Stewart Thomas Carltonofficer: See Remarks | Sell | 2,231 | $1.47 |
| Aug 25, 2026 | Gedeon Christelleofficer: See Remarks | Sell | 13,344 | $1.47 |
| Jun 29, 2026 | ATKINS M SHANdirector | Sell | 3,197 | $0.92 |
| Jun 29, 2026 | Lazzarato David Angelodirector | Sell | 22,674 | $0.92 |
| Jun 29, 2026 | Yanofsky Theresadirector | Sell | 15,054 | $0.92 |
| Jun 29, 2026 | BAYERN JOSEPHdirector | Sell | 3,197 | $0.92 |
| Jun 22, 2026 | Mongeau Lucdirector, officer: Chief Executive Officer | Grant | 1,291,139 | $0.99 |
| Jun 22, 2026 | Mongeau Lucdirector, officer: Chief Executive Officer | Sell | 135,231 | $0.97 |
| Jun 22, 2026 | Mongeau Lucdirector, officer: Chief Executive Officer | Grant | 1,056,152 | — |
| Jun 22, 2026 | Gedeon Christelleofficer: See Remarks | Grant | 484,122 | $0.99 |
| Jun 22, 2026 | Gedeon Christelleofficer: See Remarks | Sell | 58,994 | $0.97 |
| Jun 22, 2026 | Gedeon Christelleofficer: See Remarks | Grant | 396,012 | — |
| Jun 22, 2026 | ATKINS M SHANdirector | Grant | 108,324 | — |
| Jun 22, 2026 | Lazzarato David Angelodirector | Grant | 162,485 | — |
| Jun 22, 2026 | Yanofsky Theresadirector | Grant | 108,324 | — |
Source: CGC SEC Form 4 filings, latest Aug 25, 2026. For informational purposes only — not investment advice.
See the full CGC insider & 13F page →Canopy Growth Corporation company profile
Overview
Canopy Growth Corporation (TSX:WEED, NASDAQ:CGC) is a Canadian cannabis company founded in 2009 and originally known as Tweed Marijuana Inc. before rebranding in 2015. The company went public in 2014 and became one of the world's largest cannabis companies during the early legalization boom. Headquartered in Smiths Falls, Canada, Canopy Growth has undergone significant transformation in recent years, shifting from an aggressive expansion strategy to a focused, asset-light approach centered on core cannabis markets and profitability.
Business
Canopy Growth operates in the legal cannabis industry, which encompasses the cultivation, processing, manufacturing, and distribution of cannabis products for both medical and recreational use. The cannabis industry emerged from decades of prohibition and has experienced rapid growth as jurisdictions worldwide have legalized cannabis for therapeutic and adult-use purposes. The company operates through two primary business segments. The Global Cannabis segment represents approximately 75-80% of total revenues and includes the production and sale of dried cannabis flower, extracts, concentrates, edibles, beverages, and vaporizer products. Cannabis flower refers to the dried buds of the cannabis plant that contain psychoactive compounds like THC (tetrahydrocannabinol) and therapeutic compounds like CBD (cannabidiol). Extracts and concentrates are processed forms of cannabis that contain higher concentrations of active compounds, while edibles are food products infused with cannabis compounds. The Other Consumer Products segment accounts for approximately 20-25% of revenues and includes the Storz & Bickel vaporizer business. Vaporizers are devices that heat cannabis or other materials to release active compounds without combustion, offering a potentially healthier consumption method than smoking. Storz & Bickel is a premium German manufacturer known for high-quality desktop and portable vaporizers. Canopy Growth markets its products under numerous brands including Tweed, 7ACRES, Quatreau, Deep Space, Spectrum Therapeutics, Tokyo Smoke, and Martha Stewart CBD. The company operates primarily in Canada, with expanding international presence in Germany, Australia, and Poland, plus strategic investments in the United States cannabis market through brands like Wana, Jetty, and Acreage.
Revenue model
Canopy Growth generates revenue through direct product sales to licensed retailers, distributors, and medical patients. In Canada's regulated cannabis market, the company sells products to provincial distribution agencies and licensed private retailers who then sell to consumers. For medical cannabis, sales occur directly to registered patients through online platforms and authorized clinics. The company's revenue streams include wholesale sales of dried flower and processed products to business customers, direct-to-consumer medical cannabis sales, and retail sales of vaporizer devices through Storz & Bickel. International revenues come from medical cannabis exports and local production in licensed facilities. Several factors significantly impact Canopy Growth's margins and profitability. Pricing pressure from market oversupply and competition from illegal markets continues to compress margins across the Canadian cannabis industry. The company faces ongoing regulatory costs including compliance, testing, and licensing fees that add operational overhead. Cultivation efficiency directly affects gross margins, as indoor growing requires significant energy costs for lighting, climate control, and security systems. Positive margin drivers include the company's shift toward premium product categories like craft flower and branded extracts that command higher prices, operational consolidation that reduces fixed costs across fewer facilities, and third-party sourcing arrangements that provide flexibility while reducing capital intensity. International market expansion, particularly in Germany's developing medical cannabis market, offers opportunities for higher-margin sales. The company's asset-light business model reduces capital requirements while focusing resources on brand development and market expansion.
Competitive moat
Canopy Growth's competitive moat appears relatively weak in the current cannabis industry landscape. The company's primary advantages include established brand recognition, particularly with the Tweed brand in Canada, and regulatory licenses that provide legal market access. However, these advantages are not particularly durable given the industry's competitive dynamics. The cannabis industry suffers from commoditization pressures as the novelty of legalization fades and consumers increasingly focus on price and potency rather than brand loyalty. Regulatory barriers to entry, while significant, are not insurmountable for well-funded competitors. The company's cultivation and processing capabilities can be replicated by competitors with sufficient capital investment. Brand differentiation represents Canopy Growth's strongest potential moat, particularly through premium positioning and strategic partnerships like the Martha Stewart CBD line. The Storz & Bickel vaporizer business possesses stronger competitive advantages through engineering expertise, patent protection, and established distribution relationships, though this represents a smaller portion of overall revenues. Competition comes from multiple directions including other licensed producers like Aurora Cannabis and Tilray, illicit market operators who avoid regulatory costs and taxes, and new market entrants attracted by cannabis legalization trends. The company also faces potential disruption from alternative consumption methods, changing consumer preferences, and possible federal policy changes that could reshape market dynamics. The lack of significant switching costs or network effects limits the company's ability to defend market share against aggressive competitors.
Risks & safety
Canopy Growth presents moderate financial risk with improving but still concerning metrics: • Cash burn and liquidity: Operating cash flow negative $33M in Q4 2024, with $113M in cash and short-term investments providing approximately 3-4 quarters of runway at current burn rates • Debt burden: Total debt reduced significantly to approximately $270M with no major maturities until March 2026, debt-to-equity ratio of 0.62 • Solvency risk: Current ratio of 3.12 indicates adequate short-term liquidity, though continued losses raise long-term sustainability concerns • Valuation metrics: Trading at 0.20x book value and negative earnings multiples due to losses, EV/EBITDA not meaningful due to negative EBITDA • Profitability trajectory: Adjusted EBITDA losses narrowing significantly from -$193M to targeting breakeven, gross margins improving toward mid-30% range • Other considerations: Asset-light transformation reduces capital requirements, international expansion provides diversification, but continued dependence on Canadian market recovery and regulatory developments in key markets creates execution risk.
Recent development
Over the past few years, Canopy Growth has undergone a dramatic strategic transformation from an aggressive growth-focused company to a streamlined, profitability-oriented operation. The company divested numerous non-core businesses including Canadian retail operations, BioSteel sports drinks, and This Works wellness products to focus exclusively on cannabis and cannabis-adjacent categories. The most significant operational change involved consolidating cultivation operations from 12 facilities to just 2 primary sites (Kincardine and DOJA), while transitioning to a third-party sourcing model for additional product supply. This asset-light approach reduced fixed costs while maintaining market presence. The company achieved over $280 million in cumulative cost savings and reduced total debt by more than $700 million in fiscal 2024. Product portfolio expansion has focused on higher-margin categories including the relaunch of Wana edibles in Canada, expanded pre-roll and vape offerings, and strengthening the premium flower segment. International expansion accelerated with record growth in Australia (12 consecutive quarters), significant expansion in Poland (60%+ growth), and preparation for Germany's adult-use cannabis legalization. The Canopy USA strategy represents a major long-term initiative involving the planned consolidation of U.S. cannabis assets including Wana, Jetty, and Acreage Holdings. This structure aims to position the company for potential U.S. federal cannabis legalization while navigating current regulatory restrictions. The Storz & Bickel vaporizer business has shown strong momentum with new product launches like the VENTY portable vaporizer driving 43% year-over-year growth in the most recent quarter.
CGC company profile · for informational purposes only — not investment advice.
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