---
schema_version: "secwatch.filing_event.v1"
accession: "0001656472-23-000124"
form_type: "8-K"
ticker: "CRON"
cik: "0001656472"
company_name: "Cronos Group Inc."
filed_at: "2023-08-08T23:59:59+00:00"
generated_at: "2026-06-12T02:13:30.837160+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cronos Group Q2 revenue down 12% to $19M, withdraws FY2023 guidance; announces facility wind-down

## Summary
- Q2 net revenue $19.0M (-12% YoY); net loss improved to $(5.7)M from $(17.5)M YoY.
- Withdrew FY2023 net revenue target of $100-110M citing political unrest in Israel and competitive activity.
- Operating expense savings target raised to $20-25M; planning wind-down of Cronos Fermentation facility by end of 2023.
- Cash and short-term investments $841M; net cash decline for H2 2023 expected less than $5-10M (improved guidance).
- Expects incremental $10-15M savings in 2024 from additional expense reductions and facility exit.

## SEC filing metadata
- accession: 0001656472-23-000124
- form_type: 8-K
- ticker: CRON
- cik: 0001656472
- company_name: Cronos Group Inc.
- filed_at: 2023-08-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1656472/000165647223000124/0001656472-23-000124-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1656472/000165647223000124/cron-20230808.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001656472-23-000124
- JSON: https://secwatch.observer/filing/0001656472-23-000124.json
- Plain text: https://secwatch.observer/filing/0001656472-23-000124.txt

## Key facts
- Earnings Releases
  Cronos Group Inc. reported second quarter ended June 30, 2023 results: revenue $19.0 million, net income $(5.7) million. Guidance lowered.
  - Period: second quarter ended June 30, 2023
  - Revenue: $19.0 million
  - Net income: $(5.7) million
  - Guidance: lowered
  - Result: reported results
  source text: of investing activities and is defined as the sum of purchase of property, plant and equipment, and purchase of intangible assets. Second Quarter 2023 • Net revenue of $19.0 million in Q2 2023 decreased by $2.6 million from Q2 2022. The decrease was primarily due to lower cannabis flower sales in Israel due to competitive activity, the slowdown in patient
  evidence_url: https://www.sec.gov/Archives/edgar/data/1656472/000165647223000124/0001656472-23-000124-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.