8-K
filed November 8, 2023, 6:59 PM ET
ticker CRON
CIK 0001656472
earnings
confidence high
sentiment positive
materiality 0.65
Cronos Q3 net revenue $24.8M (+22% YoY); net loss narrows to $1.6M from $33.1M
Cronos Group Inc.
2023-Q3 EPS reported
-$0.08
revenue$63,326,000
- Net revenue $24.8M (+22% YoY); constant currency $26.0M (+27% YoY). Grows driven by Canadian flower, extract sales.
- Net loss from continuing ops $(1.6)M improves from $(33.1)M; no impairment in current period, higher interest income.
- Adjusted EBITDA $(15.2)M vs $(18.5)M prior year; gross margin 16% (19% adj. for inventory write-down).
- Cash & short-term investments $839.6M; guidance: net cash decline <$5-10M in Q4 2023, positive cash flow in 2024.
- Spinach brand top-10 Canadian retail in all categories; launched Peace Naturals in Germany and Lord Jones in Canada.
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 financial results for Q3 2023.
- Period
- Q3 2023
- Result
- reported results
Exact text from the filing
Net revenue in Q3 2023 increased by 22% year-over-year to $24.8 million
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Cronos Group Inc. reported financial results for Q3 2023.
- Period
- Q3 2023
- Result
- reported results
Exact text from the filing
Net income (loss) (ii) $ (1,590) $ (33,105) $ 31,515 95 %
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
Cronos Group Inc. reported financial results for Q3 2023.
- Period
- Q3 2023
- Result
- reported results
Exact text from the filing
Adjusted EBITDA (iii) $ (15,187) $ (18,464) $ 3,277 18 %
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Cronos Group Inc. updated its last three months of FY2023 guidance (reaffirmed).
- Period
- last three months of FY2023
- Guidance
- reaffirmed
- Result
- guidance update
Exact text from the filing
Cronos anticipates that the net change in cash, defined as the sum of cash and cash equivalents and short-term investments, will decline by less than $5 to $10 million in the last three months of fiscal year 2023.
View on SEC.gov
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