Loading...
•
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.
Cronos
Cronos
Cronos Revenue by Segment
Cronos Revenue by Geographic Location
Revenue by Segment
United States Revenue
CapyFin.comRest of World Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
No specific forward guidance provided in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income