Cronos Q1 revenue up 30% YoY to $25.3M; net loss narrows; guidance reaffirmed

Cronos Group Inc.

2024-Q1 EPS reported -$0.01 revenue$25,288,000

Net revenue $25.3M (+30% YoY); gross profit $4.5M (+53%); net loss improved to $(2.5M) from $(18.0M).
Adjusted EBITDA of $(10.7M) improved $5.0M YoY; cash and equivalents $855M.
Spinach brand #1 flower and #3 vape in Canada; Lord Jones #1 hash infused pre-roll.
Launched PEACE NATURALS in UK via GROW Pharma partnership in May 2024.
Reiterated $5-10M operating expense savings target for 2024; expects positive net cash change.

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 0.9

Cronos Group Inc. reported first quarter ended March 31, 2024 results: revenue $25.3 million, net income $ (2,484).

Period: first quarter ended March 31, 2024
Revenue: $25.3 million
Net income: $ (2,484)
Result: reported results

Exact text from the filing

Group Reports 2024 First Quarter Results Industry-leading balance sheet with $855 million in cash and cash equivalents Net revenue in Q1 2024 increased by 30% year-over-year to $25.3 million Spinach ® was top-3 in retail sales in Canada in the flower, edible, and vape categories in Q1 2024 Launched PEACE NATURALS ® brand in the United Kingdom in May 2024 TORONTO, May

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Source: SEC EDGAR

accession 0001656472-24-000062

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