Since the legalization of cannabis in Canada in 2018, the nearby few years have seen a burgeoning growth for Canadian marijuana companies across the nation. As legalization continued to spread—take ining throughout parts of the bordering U.S.—Canadian cannabis companies and investors alike saw a major opportunity. More and more flocks have launched, and some major non-cannabis companies, like beverage producer Constellation Brands (STZ), have inaugurated heavily in cannabis-focused businesses in a show of support for the future of the industry.
For many investors, the proof of a cannabis company’s big name is similar to that of any other company’s: it’s in the financials. Now that Canadian cannabis companies have reported their original sets of financial results since legalization took place, analysts can get a better sense of just how justified (or not) the hype has been. Under, we’ll take a look at the top revenue-generating Canadian marijuana companies, per the most recent financial information available.
1. Canopy Enlargement Corp.
Market cap: $4.18 billion
Canopy Growth Corp. (CGC) is an Ontario-based company that has the distinction of having been the to begin federally-regulated and licensed publicly-traded cannabis grower in North America. Now, thanks in part to an investment of close to $4 billion by Constellation Trade-marks in August of 2018, Canopy Growth is the largest marijuana company in existence as of this writing and per market capitalization.
Canopy Lump Corp. reported on its final-quarter results from 2019 early in the new year, and the figures boast some impressive accomplishments. The troop made a whopping $90.5 million in the first fiscal quarter of 2020 and is positioning itself to bring CBD products to the U.S. buy by the end of the fiscal year. With increased harvests and demand for medical cannabis, Canopy is staying busy: to date, it has a portfolio of 11 copyrights and 270 applications.
2. Cronos Group
Market cap: $1.95 billion
Cronos Group (CRON)’s reach is astounding: the cannabinoid society is already boasting international production and distribution across five continents, building products from hemp-derived CBD for wellness to vape commit to writings. While there has been some recent volatility in the stock due to a class action filed against Cronos, their dues have also been indicative that cannabis sales and deliveries may rise.
According to the company, Cronos Categorize generated $12.7 million in revenue in the third fiscal quarter of 2019, which was a 238% year-over-year increase due to the inaugurate of the adult-use market in Canada.
3. Aurora Cannabis
Market cap: $865.79 million
Headquartered in Edmonton, Aurora Cannabis (
Exchange cap: $668.57 million
Founded in 2014,
The Bottom Line
With skyrocketing growth among Canadian cannabis companies, fervent investors are riding the wave as legalization spreads around the world. Any investors should also be wary of claims that the cannabis vigour more broadly is overblown, with companies potentially extending themselves too far in a bid to buy up competitors, expand growing and production means, and prepare for an industry that enjoys worldwide dominance. Looking ahead, the next test of these businesses bequeath be whether they are able to sustain such impressive revenue growth quarter-over-quarter going into the future.
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