Top Canadian Cannabis Companies By Revenue

Since the legalization of cannabis in Canada in 2018, the past few years have seen a burgeoning progress for Canadian marijuana firms across the nation. As legalization continued to spread—including all through elements of the bordering U.S.—Canadian cannabis companies and investors alike saw a significant opportunity. An increasing number of firms have launched, and a few main non-cannabis companies, like beverage producer Constellation Brands (STZ), have invested heavily in cannabis-focused companies in a present of assist for the way forward for the industry.

For marijuana by mail order of traders, the proof of a cannabis company's success is just like that of some other company's: it's in the financials. Now that Canadian cannabis corporations have reported their first sets of financial outcomes since legalization happened, analysts can get a better sense of simply how justified (or not) the hype has been. Below, we'll check out the highest income-producing Canadian marijuana corporations, per the latest financial information available.

1. Canopy Growth Corp.

Market cap: $4.18 billion

Canopy Growth Corp. (CGC) is an Ontario-based company that has the distinction of having been the primary federally-regulated and licensed publicly-traded cannabis grower in North America. Now, thanks in part to an investment of near $4 billion by Constellation Brands in August of 2018, Canopy Growth is the largest marijuana firm in existence as of this writing and per market capitalization.

Canopy Growth Corp. reported on its last-quarter outcomes from 2019 early in the brand new year, and the figures boast some impressive accomplishments. The company made a whopping $90.5 million in the primary fiscal quarter of 2020 and is positioning itself to carry CBD products to the U.S. market by the tip of the fiscal year. With increased harvests and demand for medical cannabis, Canopy is staying busy: thus far, it has a portfolio of eleven patents and 270 applications.

2. Cronos Group

Market cap: $1.95 billion

Cronos Group (CRON)'s reach is astounding: the cannabinoid firm is already boasting international production and distribution throughout 5 continents, constructing products from hemp-derived CBD for wellness to vape pens. While there has been some latest volatility in the inventory on account of a category action filed in opposition to Cronos, their shares have additionally been indicative that cannabis sales and deliveries might rise.

In keeping with the company, Cronos Group generated $12.7 million in revenue within the third fiscal quarter of 2019, which was a 238% yr-over-yr enhance as a result of launch of the adult-use market in Canada.

3. Aurora Cannabis

Market cap: $865.79 million

Headquartered in Edmonton, Aurora Cannabis (ACB) is a significant cannabis producer and a licensed distributor. It follows Canopy Growth as the second-largest cannabis company on the planet with respect to market capitalization as of this writing. Aurora boasts a strong worldwide presence, having purchased Berlin-based Pedanios GmbH and having acquired a supply agreement through a subsidiary referred to as Pedanios to the Italian cannabis market as nicely. It also purchased MedReleaf and CanniMed in 2018.

Aurora's financials for its 2019 Q4 have been fairly sturdy compared with earlier quarters as effectively, producing net revenue of CAD$98.9 million. In reality, internet revenue increased by 61% from the earlier quarter.

4. Aphria

Market cap: $668.57 million

Founded in 2014, Aphria (APHA) is a comparatively new entrant into the authorized cannabis area. It focuses on medical cannabis, having first acquired a license to supply and sell medical products. In current months and in an effort to develop into the U.S. market, Aphria has engaged in high profile (and generally extremely controversial) acquisitions. For the last fiscal quarter of 2019, Aphria reported web revenue of CAD$128.6 million.

With skyrocketing growth among Canadian cannabis firms, keen traders are riding the wave as legalization spreads around the world. Any buyers should also be wary of claims that the cannabis business extra broadly is overblown, with firms probably extending themselves too far in a bid to buy up opponents, expand rising and manufacturing capabilities, and put together for an trade that enjoys worldwide dominance. Looking forward, the subsequent take a look at of those businesses will probably be whether they can sustain such spectacular revenue growth quarter-over-quarter going into the longer term.