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Canopy Growth vs biote: CGC and BTMD compared
Canopy Growth is the larger company: $99.5M of revenue in its latest quarter (Q2 FY27) against $43.3M for biote (Q3 2026). Canopy Growth is growing faster (+20% against -10% a year earlier). biote is more profitable, with an operating margin of 5.7% against -23.1%.
Where the money goes: CGC and BTMD
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.
biote (BTMD) · Q3 2026
biote, Q3 2026: revenue $43.3M (-10% year over year), operating margin 5.7%, net earnings $407K, operating cash flow $3.7M. The chart follows the revenue to costs, profit and cash.
| Canopy Growth (CGC) | biote (BTMD) | |
|---|---|---|
| Latest quarter | Q2 FY27 | Q3 2026 |
| Revenue | $99.5M | $43.3M |
| Revenue growth, Y/Y | +20% | -10% |
| Operating margin | -23.1% | 5.7% |
| Net earnings | −$40.7M | $407K |
| Net margin | -40.9% | 0.9% |
| Operating cash flow | −$12.6M | $3.7M |
| Free cash flow | — | $1.1M |
Where the revenue comes from
Canopy Growth
- Cannabis Net Revenue: $66.2M (67%)
- Other revenues: $18.1M (18%)
- Storz and Bickel: $15.1M (15%)
biote
- Product revenue: $42.6M (98%)
- Service revenue: $765K (2%)
Questions
Which is bigger, Canopy Growth or biote?
Canopy Growth is the larger company: $99.5M of revenue in its latest quarter (Q2 FY27) against $43.3M for biote (Q3 2026).
Is Canopy Growth or biote growing faster?
Canopy Growth is growing faster (+20% against -10% a year earlier).
Which is more profitable, Canopy Growth or biote?
biote is more profitable, with an operating margin of 5.7% against -23.1%.
More: Canopy Growth earnings · how Canopy Growth makes money · biote earnings · how biote makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 8-K filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.