Upon harvest, drought-stressed plants had increased concentrations of major cannabinoids tetrahydrocannabinol acid (THCA) and cannabidiolic acid (CBDA) by 12% and 13%, respectively, compared with the control. Further, yield per unit growing area of THCA was 43% higher than the control, CBDA yield was 47% higher, ∆9-tetrahydrocannabinol (THC) yield was 50% higher, and cannabidiol (CBD) yield was 67% higher. Controlled drought stress may therefore be an effective horticultural management technique to maximize both inflorescence dry weight and cannabinoid yield in cannabis, although results may differ by cannabis cultivar or chemotype.