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Mar 31, 2021
Cronos Q1 2021 Earnings Report
Cronos Group's Q1 2021 financial performance reflected growth in key markets and strategic brand development initiatives.
Key Takeaways
Cronos Group's Q1 2021 net revenue increased by 50% year-over-year to $12.6 million, driven by growth in the Canadian adult-use market, Israeli medical cannabis market, and U.S. hemp-derived CBD products. The gross loss decreased by $3.5 million from Q1 2020. Adjusted EBITDA loss increased marginally to $37.1 million.
Net revenue increased by $4.2 million from Q1 2020, driven by growth in key markets.
Gross loss decreased by $3.5 million from Q1 2020, primarily due to increased net revenue and decreased inventory write-downs.
Adjusted EBITDA loss increased marginally from Q1 2020, driven by increased sales and marketing costs in the U.S. segment and increased R&D costs.
Launched Spinach™ branded edibles to the Canadian adult-use market and a transformative Lord Jones™ brand campaign.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
No specific forward guidance provided in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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