Canopy Growth’s Revenue and Gross Profit (2017-2022)

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This statistic highlights Canopy Growth’s Revenue and Gross Profit, reported on a quarterly basis from Q1 2017 onwards.
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This statistic highlights Canopy Growth’s Revenue and Gross Profit, reported on a quarterly basis from Q1 2017 onwards.

Canopy Growth Inc. is a Canadian marijuana company. They offer products like edibles, oils, flowers, beverages, and hemp. They operate a number of brands like Tweed, Spectrum Therapeutics, DNA Genetics, Craftgrow, Tokyo Smoke, Van Der Pop, Maitri, and Doja. Their core brand is Tweed. Tweed’s commercial license covers more than 165,000 square feet of production land which allows the brand to sell around 3,500 kilograms of medical marijuana per year.

The company’s revenue as of 2019 was $253 million and it reported a net loss of $670 million in the same year. The company’s biggest market is recreational marijuana accounting for more than 50% of the company’s revenue followed by medical marijuana which makes up for around 30% of the total revenue and the remaining revenue is accounted for by other uses. The Canadian market makes up almost 85% of the company’s revenue and international operations currently form just about 15% of the total revenue.

The company’s revenue back in 2017 was $6.98 million in the first quarter, $8.50 million in the second quarter, $9.75 million in the third quarter, and $14.66 million by the end of the last quarter. The revenue further increased in 2018 to $15.87 million in the first quarter, $17.57 million in the second quarter, $21.70 million in the third quarter, and $22.81 million in the fourth quarter. Canopy’s revenue increased exponentially towards the end of 2019. The revenue in 2019 increased to $25.92 million in the first quarter, $23.33 million in the second quarter and then jumped to $97.70 million in the third quarter and crossed $100 million in the fourth quarter and had increased to $106.49 million by the end of the year. Revenue continues to increase in 2020 to $103.39 million in the first quarter and is expected to go up to $85.62 million in the second quarter, $135.55 million in the third quarter, and $115.07 million by the end of the last quarter.

The company’s gross profit in the first quarter of 2017 was $16.94 million and then reduced to $15.83 million in the second quarter, $3.54 million in the third quarter, and $2.50 million by the end of the fourth quarter. The gross profit increased exponentially in 2018 to $18.18 million in the first quarter, $26.74 million in the second quarter, $16.53 million in the third quarter, and then dropped to $5.14 million in the last quarter. The gross profit grew to $41.99 million in the first quarter and then fell substantially to report a loss of $32.85 million in the second quarter and then turned back to profits of $12.45 million in the third quarter and $68.48 million in the fourth quarter and the gross profit shot up to $106.06 million in the first quarter of 2020 and is expected to slow down to $3.52 million in the second quarter and $60.23 million in the third quarter.

Owing to its popularity Canopy Growth can be expected to improve its revenue and gross profit numbers in the future. With the company focusing on new products and markets, an increase in international operations can go a long for Canopy Growth.

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