Cronos Group, Inc. (TSX: CRON; Nasdaq: CRON) today reported its financial results for Q2 ended June 30, 2020, and while the results were still negative they showed a considerable improvement from the previous quarter. 

Cronos has a unique (one might say a sleight-of-hand) way of reporting its quarterly financial performance by comparing the latest quarter with the latest 6 months and with the same quarter in the previous fiscal year. This method prevents a clear picture of how Q2  financial results compare with those of the previous quarter and masks the trend in performance. This report has done the analysis and gives you that comparison below:

Q2 Financial Highlights (All amounts are expressed in U.S. dollars and compared to the previous quarter.)

• Revenue : increased by 17.2% to 9,883M
• Gross Profit: improved by 54.4% to ($2,953)
• Gross Margin: improved to (29.9)% from (76.8)%
• Operating Loss: improved by 22.9% to ($34,755M
• Cash, Cash Equiv. & Short Term Investments: unchanged at $1.3B

Stock Performance

The Cronos stock price was down 14.6% YTD as of yesterday and it will be further negatively impacted by the decline in price today.