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Cronos Group Inc CRON Stock Quote

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Morningstar‘s Stock Analysis CRON

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Cronos Slows Q2; Stock Remains in 4-Star Territory Though We See More Upside Elsewhere in Cannabis

Analyst Note

| Kristoffer Inton |

Cronos’ second-quarter fiscal-year 2022 results slowed from the first quarter. Net revenue declined 8% and adjusted EBITDA was roughly flat at a loss of CAD 19 million, quarter over quarter. While Cronos continues to dominate the Israeli medical market, the Canadian market continues to be hindered by regulatory delays, competitive pressures from too many licensed producers, or LPs, and consistent strength of the black market. Separately, Cronos is repositioning its Lord Jones brand in the U.S. to adult-use products and away from beauty.

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Company Profile CRON

Business Description

Cronos Group, headquartered in Toronto, Canada cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach. Although it primarily operates in Canada, Cronos exports medical cannabis to Poland and Germany. In addition, it has entered joint ventures in Israel, Colombia, and Australia to drive further international cultivation and distribution growth. In the U.S. the company directly sells hemp-derived CBD and has an option to acquire 10.5% of U.S. multistate operator PharmaCann.

111 Peter Street, Suite 300
Toronto, ON, M5V2G9, Canada
T +1 416 504-0004
Industry Drug Manufacturers - Specialty & Generic
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Stock Type
Employees 626