Cronos Group's Q4 2020 net revenue increased by $9.7 million compared to Q4 2019, primarily driven by growth in the adult-use market in Canada, sales in the Israeli medical market, and growth in the U.S. segment. The company's gross loss decreased by $5.2 million year-over-year, while the adjusted EBITDA loss increased by $1.5 million.
Net revenue of $17.0 million in Q4 2020 increased by $9.7 million from Q4 2019.
Gross loss of $14.9 million in Q4 2020 decreased by $5.2 million from Q4 2019.
The Company incurred an inventory write-down in Q4 2020 of $15.0 million on dried cannabis and cannabis extracts.
Adjusted EBITDA loss of $53.1 million in Q4 2020 increased by $1.5 million from Q4 2019.
Cronos Group did not provide specific financial guidance for future periods in this earnings report.
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