Zinger Key Points
- Cronos reported Q4 sales of $30.3M, missing estimates of $34.9M, but up from $23.9M last year, driven by strong cannabis sales.
- Adjusted EBITDA loss improved to $7.2M, while gross profit rose to $10.8M from $1.91M due to higher sales and cost improvements.
- Our government trade tracker caught Pelosi’s 169% AI winner. Discover how to track all 535 Congress member stock trades today.
On Thursday, Cronos Group Inc CRON reported fourth-quarter sales of $30.3 million, up from $23.92 million, missing the consensus of $34.95 million.
The increase year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries.
Cronos GrowCo contributed $2.1 million of cannabis flower sales in Q4 2024.
The cannabinoid company reported earnings of 11 cents compared to a loss of 19 cents.
Also Next: Cronos CEO Mike Gorenstein Says He’s Optimistic About Trump’s Impact On Cannabis
The company reported a gross profit of $10.8 million, up from $1.91 million, primarily due to higher sales and production cost improvements. Gross profit was positively impacted by $1.8 million in the quarter in connection with the finalization of the purchase accounting for the Cronos GrowCo Transaction, which resulted in a reduction of the fair value of inventory acquired from Cronos GrowCo and the corresponding inventory step-up previously recorded into the cost of sales.
- Adjusted gross profit of $9.0 million, improved by $7.1 million from Q4 2023.
Adjusted EBITDA loss reached $7.2 million, an improvement of $7.6 million.
“Cronos is well-positioned to capitalize on future opportunities and drive long-term value for our shareholders. As we look ahead to 2025, we remain focused on sustaining this momentum, strengthening our market leadership, and delivering innovative products that resonate with consumers worldwide,” said Mike Gorenstein, chairman, president and CEO of Cronos.
“Our strategic investments, such as Cronos GrowCo, have enhanced our cultivation capabilities, ensuring a consistent supply of high-quality cannabis at scale with an improved gross margin profile, while our R&D breakthroughs have set new industry standards,” Gorenstein added.
Price Action: CRON stock is up 7.87% at $1.9 at the last check Thursday.
Read Next:
Photo: Shutterstock
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.