Canopy Growth (CGC) Operating Expenses (2019 - 2026)
Canopy Growth's (CGC) quarterly Operating Expenses came in at $32.1 million in Q2 2026, up 9.25% year-over-year from $29.3 million in Q2 2025, and down 64.87% quarter-over-quarter from $91.3 million in Q4 2025.
Analysis
Canopy Growth (CGC) Operating Expenses (2019 - 2026) Analysis & Trends
Canopy Growth has disclosed Operating Expenses across 8 years of filings, most recently posting $32.1 million for Q2 2026.
- In Q2 2026, Operating Expenses rose 9.25% year-over-year to $32.1 million; the TTM figure through Jun 2026 stood at $180.9 million (up 19.42% YoY), while the FY2026 annual figure was $168.7 million, up 23.08% from the prior year.
- Operating Expenses came in at $32.1 million for Q2 2026 at Canopy Growth, down from $91.3 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $1.4 billion in Q2 2022 to a low of $22.7 million in Q3 2023.
- Average Operating Expenses over 5 years is $173.5 million, with a median of $58.0 million recorded in 2023.
- Year-over-year, Operating Expenses surged 723.89% in 2022 and tumbled 96.46% in 2023.
- Over 5 years, Operating Expenses stood at $86.9 million in 2022, then dropped by 25.13% to $65.0 million in 2023, then plunged by 47.26% to $34.3 million in 2024, then jumped by 166.06% to $91.3 million in 2025, then slumped by 64.87% to $32.1 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $32.1 million in Q2 2026, $91.3 million in Q4 2025, and $28.2 million in Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Curaleaf Holdings | 2.68 Bn | 2.58 Bn | 169.91 Mn | 165.69 Mn |
| 2 | Trulieve Cannabis | 2.31 Bn | 1.98 Bn | 162.29 Mn | 532.81 Mn |
| 3 | Green Thumb Industries | 1.72 Bn | 1.43 Bn | 137.87 Mn | 117.91 Mn |
| 4 | Cronos | 1.18 Bn | 383.59 Mn | 28.45 Mn | 21.05 Mn |
| 5 | Glass House Brands | 673.51 Mn | 654.96 Mn | 15.77 Mn | 18.76 Mn |
| 6 | Vireo Growth | 550.06 Mn | 407.76 Mn | 95.30 Mn | 101.60 Mn |
| 7 | Tilray Brands | 472.92 Mn | 238.29 Mn | 90.52 Mn | 106.98 Mn |
| 8 | Verano Holdings | 438.82 Mn | 353.62 Mn | 99.70 Mn | 96.56 Mn |
| 9 | Canopy Growth | 405.75 Mn | 158.74 Mn | 16.08 Mn | 32.06 Mn |
| 10 | Sndl | 365.15 Mn | 232.60 Mn | 40.74 Mn | 31.60 Mn |
Historic Data
Download Data
Historic 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 |