secwatch.observer — SEC 8-K summary
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Issuer:     Cronos Group Inc. (CRON)
CIK:        0001656472
Form:       8-K
Filed at:   2022-05-10T23:59:59+00:00
Accession:  0001656472-22-000092
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cronos Q1 revenue up 99% YoY to $25M; net loss narrows; Gorenstein returns as CEO
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- Consolidated net revenue $25.0M (+99% YoY); Israel net revenue $9.1M (+263% YoY).
- Gross profit $6.9M (28% margin) vs -$3.0M in Q1 2021; net loss $32.7M vs $161.6M.
- Adjusted EBITDA loss improved to $(18.9)M from $(36.6)M; cost savings target $20-25M in 2022.
- Spinach brand held ~13% edible market share in Canada; gummy share ~17% in Q1 2022.
- Founder Mike Gorenstein appointed Chairman, President and CEO in March 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1656472/000165647222000092/0001656472-22-000092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1656472/000165647222000092/cron-20220510.htm
  HTML page:      https://secwatch.observer/filing/0001656472-22-000092

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer