E 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.

Visit  munKNEE.com and register to receive our free Market Intelligence Report newsletter (sample  more

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.