Canopy Growth (CGC) Operating Expenses (2019 - 2026)
Canopy Growth (CGC) recorded Operating Expenses of $32.06 million in fiscal Q1 2027 (quarter ended Jun 30, 2026), up 9.2% from $29.35 million a year earlier but down 57.7% from the prior quarter.
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Analysis
Canopy Growth (CGC) Operating Expenses (2019 - 2026) Analysis & Trends
On a TTM basis, Canopy Growth's Operating Expenses came in at $170.42 million as of Jun 30, 2026, up 27.7% year-over-year; for FY2026 (ended Mar 31, 2026), it came in at $167.39 million, up 18.3% from FY2025.
- Annual Operating Expenses has a five-year compound annual growth rate of -29.9% (FY2021 to FY2026).
- Across earlier fiscal years, Operating Expenses came in at $141.46 million in FY2025 (-38.4%), $229.65 million in FY2024 (-88.2%), $1.94 billion in FY2023 (+192.9%) and $663.3 million in FY2022 (-33.1%).
- Quarterly Operating Expenses has ranged from $20.08 million in fiscal Q4 2025 to $1.44 billion in fiscal Q1 2023 over the past five years.
- On a year-over-year basis, Operating Expenses rose in three of the last eight quarters, with growth averaging 26.8%.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 723.9% in fiscal Q1 2023, against a decline of 96.5% in fiscal Q1 2024 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at $75.88 million (Q4 2026), $34.29 million (Q3 2026) and $28.19 million (Q2 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.14 Bn | 283.71 Bn | 7.66 Bn | - |
| 2 | British American Tobacco p.l.c | 129.64 Bn | 108.78 Bn | - | - |
| 3 | Altria | 115.45 Bn | 101.65 Bn | 3.82 Bn | 21.00 Mn |
| 4 | Curaleaf Holdings | 2.87 Bn | 2.47 Bn | 169.91 Mn | 165.69 Mn |
| 5 | RLX Technology | 2.63 Bn | -932.13 Mn | 52.74 Mn | -33.52 Mn |
| 6 | Trulieve Cannabis | 2.37 Bn | 989.63 Mn | 162.29 Mn | 532.81 Mn |
| 7 | Green Thumb Industries | 1.53 Bn | 385.54 Mn | 137.87 Mn | 117.91 Mn |
| 8 | Cronos | 1.26 Bn | -1.96 Bn | 28.45 Mn | 21.05 Mn |
| 9 | Turning Point Brands | 1.21 Bn | 343.16 Mn | 93.70 Mn | 76.99 Mn |
| 10 | Canopy Growth | 393.41 Mn | -613.77 Mn | 16.08 Mn | 32.06 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 32.06 Mn |
| Mar 31, 2026 | 75.88 Mn |
| Dec 31, 2025 | 34.29 Mn |
| Sep 30, 2025 | 28.19 Mn |
| Jun 30, 2025 | 29.35 Mn |
| Mar 31, 2025 | 20.08 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 |
API Access
Canopy Growth Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=CGC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "CGC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=CGC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();