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Ascend Wellness Holdings vs Canopy Growth: AAWH and CGC compared
Ascend Wellness Holdings is the larger company: $126M of revenue in its latest quarter (Q2 2026) against $99.5M for Canopy Growth (Q2 FY27). Canopy Growth is growing faster (+20% against -0.9% a year earlier). Ascend Wellness Holdings is more profitable, with an operating margin of 4.2% against -23.1%.
Where the money goes: AAWH and CGC
Ascend Wellness Holdings (AAWH) · Q2 2026
Ascend Wellness Holdings, Q2 2026: revenue $126M (-0.9% year over year), operating margin 4.2%, net loss $9.8M, operating cash flow $22.5M. The chart follows the revenue to costs, profit and cash.
Canopy Growth (CGC) · Q2 FY27
Canopy Growth, Q2 FY27: revenue $99.5M (+20% year over year), operating margin -23.1%, net loss $40.7M, operating cash flow −$12.6M. The chart follows the revenue to costs, profit and cash.
| Ascend Wellness Holdings (AAWH) | Canopy Growth (CGC) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q2 FY27 |
| Revenue | $126M | $99.5M |
| Revenue growth, Y/Y | -0.9% | +20% |
| Operating margin | 4.2% | -23.1% |
| Net earnings | −$9.8M | −$40.7M |
| Net margin | -7.8% | -40.9% |
| Operating cash flow | $22.5M | −$12.6M |
| Free cash flow | $16.7M | — |
Where the revenue comes from
Ascend Wellness Holdings
- Retail revenue: $92.7M (74%)
- Third-party wholesale revenue: $33.4M (26%)
Canopy Growth
- Cannabis Net Revenue: $66.2M (67%)
- Other revenues: $18.1M (18%)
- Storz and Bickel: $15.1M (15%)
Questions
Which is bigger, Ascend Wellness Holdings or Canopy Growth?
Ascend Wellness Holdings is the larger company: $126M of revenue in its latest quarter (Q2 2026) against $99.5M for Canopy Growth (Q2 FY27).
Is Ascend Wellness Holdings or Canopy Growth growing faster?
Canopy Growth is growing faster (+20% against -0.9% a year earlier).
Which is more profitable, Ascend Wellness Holdings or Canopy Growth?
Ascend Wellness Holdings is more profitable, with an operating margin of 4.2% against -23.1%.
More: Ascend Wellness Holdings earnings · how Ascend Wellness Holdings makes money · Canopy Growth earnings · how Canopy Growth makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 12, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.