Here is the Q3 list of Most Efficient Cannabis companies measured by Total Operating Costs versus revenues. This is an important metric as it tells how much SG&A costs relative to total revenue. Companies within 30% – 35% are very efficient. Those below are even better than the better-performing companies.
| Name | Symbol | Q3 Revenue | Q3 Operating Costs | Operating Efficiency | |
|---|---|---|---|---|---|
| Vext Sciences | VEXTF | $9.4 | $0.9 | 9.99 | |
| YourWay Cannabis | YOURF | $14.5 | $2.1 | 14.48 | |
| Verano | VRNOF | $207.0 | $36.5 | 17.63 | |
| Ionic Brand | IONKF | $7.2 | $1.4 | 19.44 | |
| Lotus Ventures | LTTSF | $1.2 | $0.3 | 25.00 | |
| Ayurcann | AYURF | $1.5 | $0.4 | 26.67 | |
| C21 Investments | CXXIF | $9.0 | $2.4 | 26.67 | |
| Trulieve Cannabis | TCNNF | $224.0 | $64.3 | 28.71 | |
| Vibe Growth | VIBEF | $7.6 | $2.2 | 28.95 | |
| TILT Holdings | TLLTF | $53.4 | $16.1 | 30.15 | |
| Ascend Wellness | AAWH | $94.4 | $28.7 | 30.41 | |
| Green Thumb Industries | GTBIF | $233.7 | $71.4 | 30.55 | |
| TerrAscend | TRSSF | $49.1 | $16.1 | 32.79 | |
| MariMed | MRMD | $33.2 | $11.6 | 34.94 | |
| InterCure | INCR | $19.1 | $6.7 | 35.08 | |
| Schwazze | SHWZ | $31.8 | $11.2 | 35.22 | |
| Decibel | DBCCF | $10.6 | $3.9 | 36.79 | |
| Flower One Holdings | FLOOF | $14.1 | $5.2 | 36.88 | |
| Cresco Labs | CRLBF | $212.8 | $81.4 | 38.25 | |
| Indiva Limited | NDVAF | $6.1 | $2.4 | 39.34 | |
| Body & Mind | BMMJ | $7.6 | $3.1 | 41.22 | |
| Gaby | GABLF | $7.5 | $3.1 | 41.33 | |
| Delta 9 Cannabis | DLTNF | $12.0 | $5.0 | 41.67 | |
| Fire & Flower Holdings | FFLWF | $34.7 | $14.9 | 42.94 | |
| Curaleaf Holdings | CURLF | $317.1 | $142.7 | 45.00 | |
| High Tide | HITI | $43.5 | $20.0 | 45.98 | |
| Item 9 Labs | INLB | $6.7 | $3.1 | 46.27 | |
| Columbia Care | CCHWF | 132.3 | $61.5 | 46.49 | |
| Cannara Biotech | LOVFF | $5.0 | $2.4 | 48.00 | |
| Jushi Holdings | JUSHF | $54.0 | $26.0 | 48.15 | |
| Entourage Health Corp | ETRGF | $8.5 | $4.1 | 48.24 | |
| Rubicon Organics | ROMJF | $5.6 | $2.8 | 50.00 | |
| AYR Wellness | AYRWF | $96.2 | $48.2 | 50.10 | |
| CLS Holdings | CLSH | $6.1 | $3.1 | 50.82 | |
| Cansortium | CNTMF | $15.6 | $8.5 | 54.49 | |
| ManifestSeven Holdings | MNFSF | $4.2 | $2.3 | 54.76 | |
| Lowell Farms | LOWLF | $12.5 | $7.0 | 56.00 | |
| Harborside | HBORF | $17.4 | $9.9 | 56.90 | |
| Unrivaled | UNRV | $23.4 | $13.5 | 57.69 | |
| Grove Inc | GRVI | $8.4 | $4.9 | 58.33 | |
| Organigram Holdings Inc. | OGI | $19.7 | $11.6 | 58.88 | |
| iAnthus Capital Holdings | ITHUF | $49.3 | $30.7 | 62.27 | |
| Avant Brands | AVTBF | $2.2 | $1.4 | 63.64 | |
| 4Front Ventures | FFNTF | $25.9 | $16.6 | 64.09 | |
| General Cannabis | CANN | $1.7 | $1.1 | 64.71 | |
| Auxly Cannabis | CBWTF | $16.8 | $11.5 | 68.45 | |
| Canada House Wellness Group | SARSF | $3.2 | $2.2 | 68.75 | |
| Planet 13 Holdings | PLNHF | $33.0 | $23.4 | 70.91 | |
| Tilray | TLRY | $132.4 | $96.2 | 72.66 | |
| AmeriCann | ACAN | $0.6 | $0.5 | 83.33 | |
| Canopy Growth | CGC | $109.9 | $95.4 | 86.81 | |
| MedMen Enterprises | MMNFF | $48.7 | $42.3 | 86.86 | |
| VIVO Cannabis | VVCIF | $4.9 | $4.3 | 87.76 | |
| IM Cannabis Corp | IMCC | $11.4 | $11.2 | 98.25 | |
| Harvest One Cannabis | HRVOF | $1.7 | $1.7 | 100.00 | |
| CV Sciences | CVSI | $5.1 | $5.3 | 103.92 | |
| The Valens Company | VLNS | $16.6 | $17.3 | 104.22 | |
| Plus Products | PLPRF | $3.2 | $3.4 | 106.25 | |
| MediPharm Labs | MEDIF | $4.3 | $4.6 | 106.98 | |
| Aurora Cannabis Inc. | ACB | $47.4 | $51.0 | 107.59 | |
| HEXO | HEXO | $40.4 | $43.7 | 108.17 | |
| Sundial Growers Inc. | SNDL | $11.3 | $12.5 | 110.62 | |
| Neptune Wellness | NEPT | $12.4 | $14.1 | 113.71 | |
| Lifeist Wellness | NXTTF | $4.6 | $5.4 | 117.39 | |
| Cannabis Sativa | CBDS | $0.5 | $0.7 | 140.00 | |
| Halo Collective | HCANF | $8.7 | $12.6 | 144.83 | |
| SLANG Worldwide | SLGWD | $8.0 | $12.5 | 156.25 | |
| Khiron Life Sciences | KHRNF | $3.5 | $5.5 | 157.14 | |
| Kona Gold Holdings | KGKG | $0.5 | $0.8 | 160.00 | |
| Emerald Health | EMHTF | $1.7 | $2.8 | 169.88 | |
| Orchid Ventures | ORVRF | $0.4 | $0.7 | 175.00 | |
| MJardin Group | MJARF | $1.0 | $1.8 | 180.00 | |
| Aleafia Holding | ALEAF | $8.6 | $15.8 | 183.72 | |
| Green Organic Dutchman | TGODF | $5.7 | $10.9 | 191.23 | |
| Red White & Bloom | RWBYF | $9.3 | $18.4 | 197.85 | |
| Cronos Group | CRON | $20.4 | $40.7 | 199.51 | |
| Diego Pellicer | DPWW | $0.2 | $0.4 | 200.00 | |
| New Leaf Ventures | NLLVF | $0.5 | $1.0 | 200.00 | |
| Sugarbud Holdings | SUGR | $0.3 | $0.6 | 200.00 | |
| The Flowr Corporation | FLWPF | $2.0 | $4.2 | 210.00 | |
| MPX International | MPXOF | $1.1 | $2.4 | 218.18 | |
| Bhang | BHNGF | $0.3 | $0.7 | 233.33 | |
| Craftport Cannabis | BHHKF | $0.3 | $0.7 | 233.33 | |
| BevCanna Enterprises | BVNNF | $0.9 | $2.2 | 244.44 | |
| Australis Capital | AUSAF | $1.8 | $4.5 | 250.00 | |
| Veritas Farms | VFRM | $0.6 | $1.6 | 266.67 | |
| KAYA Holdings | KAYS | $0.2 | $0.6 | 300.00 | |
| Leviathan Natural Products | LVCNF | $0.1 | $0.3 | 300.00 | |
| Cure Pharmaceutical Holding | CURR | $1.4 | $5.2 | 371.43 | |
| 1933 industries | TGIFF | $0.0 | $0.0 | 1000 | |
| Beleave Inc. | BLEVF | $0.0 | $0.0 | 1000 | |
| Blueberries Medical | BBRRF | $0.0 | $0.0 | 1000 | |
| CannaPharmaRX | CPMD | $0.0 | $0.0 | 1000 | |
| CBD Global Sciences | CBDNF | $0.0 | $0.0 | 1000 | |
| Chalice Brands | CHALF | $0.0 | $0.0 | 1000 | |
| Citrine Global | CTGL | $0.0 | $0.0 | 1000 | |
| City View Green Holdings | CVGRF | $0.0 | $0.0 | 1000 | |
| Earth Science Tech | ETST | $0.0 | $0.0 | 1000 | |
| ENDEXX | EDXC | $0.0 | $0.0 | 1000 | |
| Epsilon Healthcare | HDRPF | $0.0 | $0.0 | 1000 | |
| Eve & Co | EEVVF | $0.0 | $0.0 | 1000 | |
| Flora Growth | FLGC | $0.0 | -$1.8 | 1000 | |
| GB Sciences | GBLX | $0.0 | $0.4 | 1000 | |
| Grown Rogue | GRUSF | $0.0 | $0.0 | 1000 | |
| Heritage Cannabis | HERTF | $0.0 | $0.0 | 1000 | |
| Livewire | LVVV | $0.0 | $0.0 | 1000 | |
| Medical Marijuana | MJNA | $0.0 | $0.0 | 1000 | |
| MGC Pharmaceutical | MGCLF | $0.0 | $0.0 | 1000 | |
| MJ Holdings | MJNE | $0.0 | $0.0 | 1000 | |
| Nextleaf Solutions | OILFF | $0.0 | $0.0 | 1000 | |
| PharmaCielo | PCLOF | 0 | $0.0 | 1000 | |
| Radiant Technologies | RDDTF | $0.0 | $0.0 | 1000 | |
| Skye Biosciences | SKYE | $0.0 | $0.0 | 1000 | |
| Speakeasy Cannabis Club | SPBBF | $0.0 | $0.0 | 1000 | |
| STEM Holdings | STMH | $0.0 | $0.0 | 1000 | |
| Sweet Earth Holdings | SEHCF | $0.0 | $0.0 | 1000 | |
| TPCO Holding | GRAMF | $0.0 | $0.0 | 1000 | |
| Weed Inc. | BUDZ | $0.0 | $0.0 | 1000 | |
| West Island Brands | WIBFF | $0.0 | $0.0 | 1000 | |
| Zelira Therapeutics | ZLDAF | $0.0 | $0.0 | 1000 |
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