It’s been nearly four years since Canada legalized recreational cannabis Federally. This budding industry has seen tremendous growth.
Cannabis in Canada has seen exponential growth. The numbers for Q3 & Q4 2021 are out (for most companies), and they explain a lot.
At the time of writing this, there are currently 776 licensed producers(LPs) and 2,652 legal cannabis stores in Canada.
We’re going to look at a few (of the many) publicly traded licensed producers that have made a significant impact on the market.
This list is in alphabetical order (not by revenue) and it doesn’t cover every LP that’s operating in Canada.
Let’s review what these companies are doing, how much they are making, and what the future may hold for licensed cannabis corporations here in Canada.
If you feel like jumping down a rabbit hole as I did, check out the Canadian Cannabis LP Index.
There is a wealth of information regarding the publicly traded legal medical and recreational cannabis market here in Canada.
Investing in cannabis doesn’t have to be scary when you’re smart about it.
Before May of 2021, Aphria was considered the biggest cannabis company on the global scene. In May Tilray (not on the list) and Aphria merged.
They produce both medical and recreational cannabis products and as of the latest information, their revenue exceeded 600 million dollars.
Aphria is an Ontario-based company and thanks to the merger will become one of the largest publicly traded cannabis companies to date.
They are a publicly-traded company on the TSE (Toronto Stock Exchange) and also trade in the U.S market under the name APHA.
Aurora Cannabis Inc
One of the most well-known publicly traded cannabis companies is Aurora Cannabis. These guys have their hands in every sector.
From CBD-based products to medical and recreational cannabis markets- they are everywhere.
Cannimed, MedReleaf, Aurora, WMMC are the four brands Aurora owns and operates. They place a lot of emphasis on medical cannabis products and patients.
Their strength lies in research and innovation, which makes them a pioneer in the legal cannabis industry.
Aurora started in 2006. Their main goal is to help people enhance their health and wellness by creating state-of-the-art facilities to grow quality cannabis in Canada and Europe.
Ayr Wellness Inc
Ayr Wellness knows that it all starts with high-quality cannabis genetics when you cultivate on a large scale.
Much like Aurora, Ayr’s main focus is on enhancing health and wellness by providing premium cannabis products to both recreational and medical cannabis users.
They have several lines of products including Kynd, entourage (vape line), and Jimmy’s Choice.
Building a better world by supporting locals and providing clean products is at the heart of this company.
Their goal for 2022 is to hit 800 million dollars in revenue. This goal seems doable as it looks like they are closing on purchasing a few well-known cannabis companies in Q1 of this year.
Canopy Growth Corp
With a primary focus on the Canadian, US, and German markets, Canopy Growth Corp is a leader in the production, distribution, and sales of both recreational and medical cannabis.
They take the cake as this company was the first, federally legal publicly traded cannabis company in North America.
Canopy trades in both the US and Canadian markets and is one of the largest globally recognized cannabis companies.
The company was founded in 2013 and originally named Tweed. Canopy Growth rebranded in 2015 after merging with Bedrocan.
As of 2021, their assets total 6.82 billion CAD.
Fire & Flower Holdings Corp
Canadian-based cannabis retail company Fire and Flower operates in retail, wholesale distribution, and digital platforms(Hyfire).
Headquartered in Saskatoon Saskatchewan, they operate retail cannabis stores with a primary focus on recreational cannabis sales.
They have dozens of locations across Canada including four provinces and one territory (Yukon).
In Q3 2021, Fire and Flower’s financial statement shows that their retail revenue increased by 27% year over year and they earned 45.4 million dollars in revenue.
HEXO Corp (originally Hydropothicary Corporation) was founded in 2013 and is headquartered in Ottawa.
Prior to federal legalization in 2018, HEXO’s primary focus was to provide innovative medical cannabis products to patients.
Today, they continue to supply medical cannabis patients as well as recreational cannabis markets with high-quality cannabis products.
With over 2 million square feet of operational facilities in both Quebec and Ontario, HEXO is one of the largest licensed producers in Canada.
They acquired Zenabis in 2021 (Redecan), and now holds the number one spot in Canada when it comes to the pre-rolled cannabis market.
HEXO reported $50.2 in net revenue for Q1’22.
Thier financial statements provide a better look at how swiftly HEXO is rising to be one of the biggest publicly traded LPs in Canada and around the globe.
About the author: Heather Burton
Heather lives with her husband and two children in beautiful British Columbia. Her passion has always been to enhance the lives of others by helping them reach their business goals.
Content management is her specialty, and writing is what she does best. Working specifically in the cannabis market, Heather strives to help dispensaries, patients, doctors, manufacturers and recreational users by giving them the voice they need. When she is not writing, you can find her anywhere outdoors and away from the screen.