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.

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