There’s no question cannabis is a lucrative business. At the close of 2020, the cannabis industry was valued at $16.1 billion in the United States and $19.6 billion worldwide.
And when nationwide legalization inevitably arrives in the US, the cannabis game is going to blast through the proverbial roof.
In other words, what’s now a multi-billion-dollar industry will begin to net hundreds of billions in annual sales.
Of course, those savvy organizations who’ve laid the early groundwork are in a prime position to capitalize on this market—catapulting them to the top of what’s poised to be the most significant domestic industry in more than a generation.
And who are these savvy operators? We were wondering the same thing at Cannawayz.com, so we decided to investigate…
A Few Words On Our Ranking Criteria
There are a variety of methods to value a consumer products company. Annual revenue, total number of products sold, and stock valuation are all commonly used indicators.
And ultimately, the deciding figure depends wholly on the individual investor’s perspective.
But for this discussion, let’s use annual revenue as our key performance indicator. And with this definition in mind, away we go!
Cannabis Companies With Highest Annual Revenue
Based in Wakefield, Massachusetts, Curleaf reported $653 million in annual sales in 2019. Though they offer a full range of cannabis products, Curleaf is NOT your typical cannabis company. Positioned itself as a lifestyle brand, Curleaf is looking beyond “just selling weed” by focusing on education, wellness, community service, and social equity.
Based in Leamington, Ontario, Canada, Aphria reported $550 million in annual sales in 2019. Aphria does a VERY brisk trade serving medical cannabis patients and medical cannabis practitioners throughout Canada, where cannabis is now entirely legal.
*In May of 2021, Aphria merged with Tilray Pharmaceuticals company, forming the “new” Tilray – “ A Global Cannabis Brand Leader.”
Based in Smith Falls, Ontario, Canada, Canopy Growth reported $400 million in annual sales in 2019. Acting as an umbrella organization of sorts, Canopy currently hosts 16 brands, several of which are celebrity-sponsored. Notable Canopy partners include Martha Stewart, with her Tweed imprint, and Seth Rogan + Even Goldberg’s Houseplant brand.
Based in Tallahassee, Fla, Trulieve reported $335 million in annual sales revenue in 2019. With a full line of cannabis products and branded dispensaries in five states, Trulieve is the United States’ fastest-growing cannabis company. Their 2020 estimated annual revenue (which is still unconfirmed) hit $699 million. And their 2021 annual revenue is expected to crest $770 million.
Based in Chicago, Il, Greenthumb Industries reported $216 million in annual sales in 2019. Greenthumb Industries sells its cannabis wares in nine states across the US, with over half a dozen brands and four retail outlets.
Based in Edmonton, Aurora Cannabis reported $54 million in annual sales in 2019. A growing player in the international market, Aroura Cannabis hosts ten brands and sells medical and recreational cannabis products in 25 countries across five continents!
Based in Nanaimo, Canada, Tilray reported $33 million in annual sales in 2019. Initially a Pharmaceuticals company, Tilray expand into the cannabis trade following Canada’s national legalization of medical and recreational cannabis.
*Last month, Tilray merged with Aphria, which essentially leapfrogs this newly combined organization to the number two spot on this list.
Based in Moncton, Canada, OrgainGram reported $17 million in annual sales in 2020. Heavily focused on innovation, OrganiGram looks to blaze (no pun intended) a trail toward streamlined cannabis production using cutting-edge biosynthesis and nanotechnology.