Cronos Q3 revenue up 3% to $20.9M; net loss $36.9M vs prior year income; Jeff Jacobson named CGO

Cronos Group Inc.

2023-Q3 EPS reported -$0.24 revenue$69,017,000

Consolidated net revenue $20.9M, up 3% YoY; constant currency +7% to $21.8M.
Net loss $36.9M driven by non-cash derivative revaluation; prior year net income $77.7M.
Adjusted EBITDA improved to -$21.7M from -$46.8M YoY; on track for $20-25M cost savings.
Israel net revenue up 88% to $7.0M; constant currency +98%.
Appointed Jeff Jacobson as Chief Growth Officer; launched Spinach infused pre-rolls.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Cronos Group Inc. reported third quarter ended September 30, 2022 results: revenue $20.9 million, net income $(36.9) million.

Period: third quarter ended September 30, 2022
Revenue: $20.9 million
Net income: $(36.9) million
Result: reported results

Exact text from the filing

or document. --- EX-99.1 (EX-99.1) --- ex991toq3earnings8-k Cronos Group Reports 2022 Third Quarter Results Reported consolidated net revenue increased 3% year-over-year to $20.9 million; on a constant currency basis, consolidated net revenue increased 7% year-over-year to $21.8 million Reported net revenue in Israel increased 88% year-over-year to $7.0 million;

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Source: SEC EDGAR

accession 0001656472-22-000161

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