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This statistic highlights Canopy Growth’s Active Registered Patients, reported on a quarterly basis from Q1 2017 onwards.
Canopy Growth is a Canadian cannabis company based out of Ontario. It was formerly called Tweed Marijuana Inc. The canopy growth is the world’s largest marijuana company in terms of market capitalization. The company through its subsidiaries Tweed Inc., Bedrocan Canada Inc., Tweed Farms, and Mettrum Health Corp is engaged in the business of producing and selling legal marijuana in the Canadian medical cannabis market. The core brands of the company are Tweed and Bedrocan. Other brands of Canopy Growth include – Spectrum Therapeutics, DNA Genetics, Craftgrow, Tokyo Smoke, Doja, Van Der Pop, and Maitri. The company was the first cannabis company to be publicly traded. Their products include edibles, beverages, vapes, dried flowers, oils and concentrates, soft gel capsules, and hemp.
The company’s number of registered patients has been growing every year. In the first quarter of 2017 Canopy had 16,000 active registered patients. The number of patients then increased to 24,000 in the second quarter, 29,000 in the third quarter, and shot up to 55,000 patients by the end of the year. The number of patients continued to increase into 2018 and went on to 59,000 in the first quarter,64,000 in the second quarter, 69,000 in the third quarter, and 74,000 by the end of the fourth quarter and the number was still increasing in the first half of 2019 but began to fall towards the end. In 2019 the number of patients increased to 82,700 in the first quarter and 84,400 in the second quarter after which it fell to 83,400 patients in the third quarter and went down to 73,600 patients by the end of the year. The number of patients further declined to 70,900 in the first quarter of 2020 but is expected to increase to 75,600 in the second quarter and go up to 76,700 by the end of the third quarter.
The growth at which the number of patients was increasing was 50% in the second quarter of 2017, 21% in the third quarter, and a whopping 90 % in the fourth quarter. The growth rate then slowed down in 2018 to 7% in the first quarter, 8% in the second quarter and third quarter and then back to 7% in the fourth quarter. Growth went up to 12% in the first quarter of 2019 and then dropped down to 2% in the second quarter after which it became negative at -1% in the third quarter and -12% in the fourth quarter. The growth rate improved to -4% in the first quarter of 2020 and is expected to become positive to 7% in the second quarter and 1% in the fourth quarter.
The company had a great run until the latter half of 2019. The number of users started to drop, and the growth rate had reached an all-time low of -12% in the last quarter. The company is expected to make a comeback in the next few years as medical and recreational use of marijuana is gaining popularity in many countries across the world.
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