Cronos Q2 net revenue $23.1M (+48% YoY); net loss narrows to $20.3M from $179.4M

Cronos Group Inc.

2023-Q2 EPS reported -$0.14 revenue$48,094,000

Consolidated net revenue $23.1M, up 48% YoY; Rest of World segment $21.6M (+61%); U.S. $1.5M (-34%).
Net loss $20.3M improved from $179.4M; Adjusted EBITDA -$18.8M vs -$49.8M a year earlier.
Gross profit $4.1M (gross margin 18%) vs -$15.8M (-101%) in Q2 2021; no inventory write-downs this quarter.
Realignment costs now expected at ~$6.4M (up from $5.8M); phased exit of U.S. wholesale beauty channel.
Arye Weigensberg appointed SVP Head of R&D; THCV productivity milestone achieved under Ginkgo partnership.

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