CRON

MKT CAP:$1B

Cronos Group Inc.

Market Cap

$1B

Healthcare·Drug Manufacturers - Specialty & Generic·🇨🇦 Canada·NASDAQ

Healthcare·Drug·🇨🇦·NASDAQ

Stock Price

$2.80+$0.10 (+3.70%)

Apr 22, 2026

Company Details

Cronos Group Inc. operates as a cannabinoid company. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and hospitality partner channels under the Lord Jones and Happy Dance ...

CEO

Michael Ryan Gorenstein

IPO Date

Feb 27, 2018

Website

www.thecronosgroup.com

Key Metrics TTM

Revenue

$100M

+133.7% YoY

Net Income

-$63M

EPS (Diluted)

-$0.17

Free Cash Flow

-$69M

Revenue / Share

$0.26

Gross Margin

19.7%

Operating Margin

-83.9%

Net Margin

-62.8%

FCF Margin

-68.5%

P/S

10.2x

P/E

—

Earnings Reports

Q1 2025

May 14, 2026

PENDING

Q4 2024

Feb 27, 2025

$30MEPS $0.11

Q2 2024

Aug 8, 2024

$28MEPS -$0.02

Q1 2023

May 9, 2023

$19MEPS -$0.05

FY 2022

Feb 28, 2023

$87M+34.4%EPS -$0.45

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 16	-$960.2K	-$977.8K	-$1M
Q3 16	$68.7K	-$28.8K	-$855.0K
Q4 16	$232.6K	$972.7K	$1M
Q1 17	$281.5K	$567.7K	-$404.1K
Q2 17	$361.7K	$629.9K	-$1M
Q3 17	$773.9K	$1M	-$22.7K
Q4 17	$916.4K	$2M	$114.2K
Q1 18	$2M	$1M	-$1M
Q2 18	$2M	$4M	$272.3K
Q1 20	$8M	-$6M	-$45M
Q4 20	$17M	-$15M	-$58M
Q2 21	$16M	-$16M	-$60M
Q4 22	$23M	-$234.0K	-$37M
Q1 23	$19M	$3M	-$21M
Q2 24	$28M	$6M	-$16M
Q4 24	$30M	$11M	-$11M

Valuation

Quarter	P/S	P/E
Q2 16	—	—
Q3 16	—	—
Q4 16	—	—
Q1 17	—	—
Q2 17	1089.3x	3605.7x
Q3 17	623.7x	972.2x
Q4 17	440.9x	696.2x
Q1 18	276.7x	764.3x
Q2 18	196.2x	623.7x
Q1 20	79.8x	13.4x
Q4 20	35.4x	—
Q2 21	23.9x	—
Q4 22	16.1x	—
Q1 23	13.7x	—
Q2 24	12.0x	—
Q4 24	10.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 16	-$620.7K	-$626.3K
Q3 16	-$2M	-$2M
Q4 16	-$896.9K	-$2M
Q1 17	-$1M	-$2M
Q2 17	-$2M	-$4M
Q3 17	$1M	-$5M
Q4 17	-$1M	-$16M
Q1 18	-$8M	-$12M
Q2 18	-$4M	-$21M
Q1 20	-$39M	-$46M
Q4 20	-$38M	-$49M
Q2 21	-$40M	-$42M
Q4 22	-$24M	-$25M
Q1 23	-$48M	-$48M
Q2 24	$2M	$828.0K
Q4 24	$8M	$4M

Capital Expenditures

Quarter	CapEx
Q2 16	$5.6K
Q3 16	$62.3K
Q4 16	$727.2K
Q1 17	$1M
Q2 17	$2M
Q3 17	$7M
Q4 17	$15M
Q1 18	$4M
Q2 18	$17M
Q1 20	$8M
Q4 20	$11M
Q2 21	$2M
Q4 22	$768.0K
Q1 23	$804.0K
Q2 24	$916.0K
Q4 24	$4M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 17	+3475.8%	+158.8%
Q2 17	+137.7%	+265.6%
Q3 17	+1026.0%	-13.8%
Q4 17	+294.0%	+202.7%
Q1 18	+491.8%	+322.8%
Q2 18	+421.5%	+10.4%
Q1 20	+989.6%	+6615.2%
Q4 20	+1760.1%	+9306.0%
Q2 21	+837.6%	+2516.0%
Q4 22	+1113.4%	+3586.0%
Q1 23	+131.2%	-24.7%
Q2 24	+62.9%	-42.6%
Q4 24	+94.0%	-45.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 16	$3.3K	—
Q3 16	$159.7K	232.4%
Q4 16	$3.8K	1.6%
Q1 17	$105.2K	37.4%
Q2 17	$246.9K	68.3%
Q3 17	$317.4K	41.0%
Q4 17	$392.7K	42.9%
Q1 18	$438.0K	26.3%
Q2 18	$527.9K	28.0%
Q1 20	$2M	28.9%
Q4 20	$2M	14.4%
Q2 21	$3M	16.4%
Q4 22	$5M	19.9%
Q1 23	$3M	13.1%
Q2 24	$2M	8.1%
Q4 24	$2M	7.2%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q2 16	—	$259.8K	—
Q3 16	—	$528.3K	—
Q4 16	—	$1M	—
Q1 17	—	$861.6K	—
Q2 17	—	$1M	$48.9K
Q3 17	—	$1M	—
Q4 17	—	$2M	—
Q1 18	—	$2M	$331.6K
Q2 18	—	$3M	$202.3K
Q1 20	$5M	$26M	$7M
Q4 20	$7M	$22M	$14M
Q2 21	$5M	$25M	$13M
Q4 22	$2M	$19M	$6M
Q1 23	$2M	$14M	$6M
Q2 24	$962.0K	$15M	$4M
Q4 24	$1M	$14M	$6M

Revenue Segments

Quarter	Cannabis Extracts	Cannabis Flower	Product and Service, Other
Q1 20	$6M	$3M	$115.0K
Q4 20	$5M	$12M	$43.0K
Q2 21	$4M	$12M	$267.0K
Q4 22	$7M	$16M	$153.0K
Q1 23	$7M	$13M	$66.0K

Revenue by Geography

Quarter	Canada	Other Countries	United States	Israel
Q1 20	$6M	$165.0K	$2M	—
Q4 20	$12M	$2M	$4M	—
Q2 21	$11M	$421.0K	$2M	$2M
Q4 22	$15M	—	$854.0K	$7M
Q1 23	$14M	—	$649.0K	$5M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.1B	$150M	$1.2B
Q2 22	$1.0B	$200M	$1.2B
Q3 22	$875M	$353M	$1.2B
Q4 22	$765M	$113M	$878M
Q1 23	$414M	$423M	$836M
Q2 23	$542M	$572M	$1.1B
Q3 23	$776M	$364M	$1.1B
Q4 23	$669M	$192M	$862M
Q1 24	$855M	$0	$855M
Q2 24	$848M	$0	$848M
Q3 24	$862M	$0	$862M
Q4 24	$859M	$0	$859M
Q1 25	$798M	$40M	$838M
Q2 25	$794M	$40M	$834M
Q3 25	$784M	$40M	$824M
Q4 25	$792M	$40M	$832M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 16	43M	+1.3%	—
Q3 16	64M	+48.4%	—
Q4 16	64M	0.0%	—
Q1 17	125M	+95.5%	+193.9%
Q2 17	168M	+34.0%	+288.7%
Q3 17	144M	-14.4%	+124.1%
Q4 17	135M	-6.0%	+110.6%
Q1 18	157M	+16.4%	+25.4%
Q2 18	212M	+34.7%	+26.1%
Q1 20	374M	+77.0%	+160.7%
Q4 20	350M	-6.4%	+159.6%
Q2 21	372M	+6.1%	+136.7%
Q4 22	379M	+1.9%	+79.0%
Q1 23	381M	+0.5%	+1.7%
Q2 24	382M	+0.4%	+9.1%
Q4 24	387M	+1.1%	+4.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 16	—	—
Q3 16	—	—
Q4 16	—	—
Q1 17	—	—
Q2 17	—	—
Q3 17	—	—
Q4 17	—	—
Q1 18	—	—
Q2 18	—	—
Q1 20	$13.4K	631
Q4 20	$25.6K	665
Q2 21	$23.5K	665
Q4 22	$51.2K	447
Q1 23	$43.6K	447
Q2 24	$78.0K	356
Q4 24	$66.0K	459

Revenue / Employee