Cronos Group's Q4 2021 net revenue increased by $8.7 million compared to Q4 2020, driven by growth in the adult-use market in Canada and increased sales in the Israeli medical market. Gross profit improved by $16.8 million, and adjusted EBITDA improved by $25.8 million year-over-year.
Net revenue of $25.8 million in Q4 2021, an increase of $8.7 million from Q4 2020.
Gross profit of $1.9 million in Q4 2021, improved by $16.8 million from Q4 2020.
Adjusted EBITDA of $(27.4) million in Q4 2021, improved by $25.8 million from Q4 2020.
Capital expenditures of $0.6 million in Q4 2021, decreased by $10.4 million from Q4 2020.
Cronos Group did not provide specific financial guidance in this earnings report. However, they outlined their strategic priorities for 2022, including focusing on adult-use products, elevating brands through rare cannabinoids, optimizing manufacturing, and preparing for entry into the U.S. cannabis market.
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