Cronos Group Q2 net revenue rises 46% to $27.8M; net loss widens, Adj EBITDA improves

Cronos Group Inc.

2024-Q2 EPS reported -$0.03 revenue$53,050,000

Net revenue $27.8M, up 46% YoY; gross profit $6.3M (+103%).
Net loss $8.8M vs $5.7M YoY; Adjusted EBITDA -$11.1M (improved from -$15.9M).
Cash and equivalents $848M; provided $51M credit facility to Cronos GrowCo for expansion.
Spinach #1 flower brand in Canada with 6.2% market share; Lord Jones #1 hash infused pre-roll.
Operating expense savings target $5-10M for 2024; net cash change no longer positive due to GrowCo investment.

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