Canopy Growth (CGC) Operating Expenses (2019 - 2026)
Canopy Growth (CGC) posted Operating Expenses of $91.3 million for Q4 2025, up 223.73% sequentially from $28.2 million in Q3 2025, and up 166.06% YoY from $34.3 million in Q4 2024.
Canopy Growth (CGC) Operating Expenses (2019 - 2026) Analysis & Trends
Canopy Growth has reported Operating Expenses for 7 years, with the latest figure at $91.3 million in Q4 2025.
- Quarterly Operating Expenses rose 166.06% year-over-year to $91.3 million in Q4 2025, while the trailing twelve-month figure through Mar 2026 was $148.8 million (up 21.86% YoY) and the FY2026 annual result came in at $168.7 million, up 23.08% from the prior year.
- Operating Expenses climbed to $91.3 million in Q4 2025 per CGC's latest filing, from $28.2 million in the prior quarter.
- Over five years, Operating Expenses peaked at $1.4 billion in Q2 2022 and troughed at $22.7 million in Q3 2023.
- A 5-year average of $176.4 million and a median of $90.7 million in 2024 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses soared 723.89% in 2022, then plunged 96.46% in 2023.
- Over 5 years, Operating Expenses stood at $127.0 million in 2021, then sank by 31.58% to $86.9 million in 2022, then fell by 25.13% to $65.0 million in 2023, then slumped by 47.26% to $34.3 million in 2024, then soared by 166.06% to $91.3 million in 2025.
- According to Business Quant data, Operating Expenses over the past three periods registered $91.3 million, $28.2 million, and $29.3 million for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Haleon | 43.65 Bn | 42.68 Bn | - | - |
| 2 | Teva Pharmaceutical Industries | 43.09 Bn | 39.44 Bn | 2.15 Bn | 1.29 Bn |
| 3 | Zoetis | 31.54 Bn | 29.86 Bn | 1.05 Bn | 215.00 Mn |
| 4 | Takeda Pharmaceutical | 28.61 Bn | 22.81 Bn | 5.10 Bn | -2.85 Bn |
| 5 | United Therapeutics | 22.11 Bn | 19.45 Bn | 683.80 Mn | 452.50 Mn |
| 6 | Viatris | 18.77 Bn | 17.88 Bn | 1.46 Bn | 1.45 Bn |
| 7 | Neurocrine Biosciences | 15.62 Bn | 15.23 Bn | 935.80 Mn | 807.50 Mn |
| 8 | Elanco Animal Health | 12.07 Bn | 11.54 Bn | 798.00 Mn | 550.00 Mn |
| 9 | Dr Reddys Laboratories | 10.09 Bn | 9.93 Bn | - | - |
| 10 | Canopy Growth | 431.22 Mn | 184.20 Mn | 16.08 Mn | 32.06 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 32.06 Mn |
| Dec 31, 2025 | 91.27 Mn |
| Sep 30, 2025 | 28.19 Mn |
| Jun 30, 2025 | 29.35 Mn |
| Dec 31, 2024 | 34.30 Mn |
| Sep 30, 2024 | 49.69 Mn |
| Jun 30, 2024 | 38.12 Mn |
| Mar 31, 2024 | 90.69 Mn |
| Dec 31, 2023 | 65.04 Mn |
| Sep 30, 2023 | 22.70 Mn |
| Jun 30, 2023 | 50.93 Mn |
| Mar 31, 2023 | 355.39 Mn |
| Dec 31, 2022 | 86.87 Mn |
| Sep 30, 2022 | 113.91 Mn |
| Jun 30, 2022 | 1.44 Bn |
| Mar 31, 2022 | 246.45 Mn |
| Dec 31, 2021 | 126.97 Mn |
| Sep 30, 2021 | 114.57 Mn |
| Jun 30, 2021 | 174.87 Mn |
| Mar 31, 2021 | 192.00 Mn |