Cronos Q1 Financials: Another Dismal Report

Cronos Group Inc. (CRON), a constituent in the munKNEE Pure-Play Licensed Producers Pot Stock Index, reported dismal Q1 financials for the period ended March 31, 2021, today, as follows:

Q4 Financial Highlights (All figures are in U.S. Dollars and compared to the previous quarter)

  • Revenue: decreased 25.9% to $12.6M
  • Gross Profit (Loss) ($): loss decreased 80.5% to $(2.9)M 
  • Gross Margin (%): decreased to (23)% from (14)% 
  • Adj. EBITDA Profit (Loss): loss decreased 43.1% to $(37.1)M
  • Net Profit (Loss): $(161.6)M
  • Earnings/Share: (0.44)%
  • Cash on Hand: $1.0B

Operational Highlights

  • Cronos Israel successfully launched PEACE NATURALS branded pre-rolls into the Israeli medical cannabis market.
  • Cronos GrowCo, a joint venture in Canada, continued to become operational in phases, completing its first harvest in Q1 2021.

Stock Performance

Cronos' stock price went up 33.9% during Q1 as seen in the chart below but has declined 17.5% since then.

If you found the above analysis of interest check out the other recent quarterly reports from HexoColumbia CareAyr Wellness, Curaleaf, TilrayAurora, CanopyGreen ThumbTerrAscendTrulieve, RubiconHarvest HealthAphria, Valens, and Organigram.

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