8-K
filed February 28, 2023, 6:59 PM ET
ticker CRON
CIK 0001656472
earnings
confidence high
sentiment positive
materiality 0.75
Cronos Group FY2022 revenue $91.9M (+23% YoY); net loss narrows to $168.7M; Spinach #1 edible brand in Canada
Cronos Group Inc.
2023-FY EPS reported
-$0.45
revenue$91,904,000
- Full-year 2022 net revenue $91.9M, up 23% YoY; Israel revenue up 128% (constant currency +137%).
- Q4 2022 net revenue $22.9M, down 11% YoY; gross profit -$0.2M vs $1.9M in Q4 2021.
- Full-year net loss $168.7M, improved from $397.2M; Adjusted EBITDA -$80.6M, improved from -$160.5M.
- Achieved $28.7M in operating expense savings in 2022; targeting additional $10-20M savings in 2023.
- Spinach became #1 edible brand in Canada in Jan 2023; appointed James Holm as CFO in Nov 2022.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
Cronos Group Inc. reported the year ended December 31, 2022 results: revenue $91.9 million, net income $(168,734).
- Period
- the year ended December 31, 2022
- Revenue
- $91.9 million
- Net income
- $(168,734)
- Result
- reported results
Exact text from the filing
Net revenue of $91.9 million in Full-Year 2022 increased by $17.5 million from Full-Year 2021.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
Cronos Group Inc. reported the three months ended December 31, 2022 results: revenue $22.9 million, net income $(78.9) million.
- Period
- the three months ended December 31, 2022
- Revenue
- $22.9 million
- Net income
- $(78.9) million
- Result
- reported results
Exact text from the filing
Net revenue of $22.9 million in Q4 2022 decreased by $2.9 million from Q4 2021.
View on SEC.gov
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