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Jun 30, 2022
Cronos Q2 2022 Earnings Report
Cronos Group's business was realigned around brands to improve efficiency, with supply chain transformation in Canada showing progress and GrowCo achieving profitability year-to-date.
Key Takeaways
Cronos Group reported a 48% year-over-year increase in consolidated net revenue, reaching $23.1 million in Q2 2022. The company is undergoing a strategic realignment to focus on key brands and improve operational efficiency.
Consolidated net revenue increased by 48% year-over-year to $23.1 million in Q2 2022.
Israel net revenue increased by 212% year-over-year to $7.2 million in Q2 2022.
GrowCo achieved profitability in the year-to-date period.
Achievement of THCV equity milestone was announced.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company now expects to incur approximately $6.4 million in expenses in connection with the Realignment, an increase from the previously stated $5.8 million. In addition, the Company anticipates capital expenditures as a result of the Realignment of approximately $2.2 million to modernize information technology systems and build distribution capabilities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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