Bulletin
Investor Alert

Market Pulse Archives

May 10, 2022, 8:00 a.m. EDT

Cannabis company Cronos Group doubles revenue, beats analyst target

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Cronos Group Inc. (CRON)
  • X
    Cannabis ETF (THCX)

or Cancel Already have a watchlist? Log In

By Steve Gelsi

Cronos Group /zigman2/quotes/206842762/composite CRON -0.29% said Tuesday its first-quarter net loss narrowed to $16.42 million, or 9 cents a share, from a loss of $146.2 million, or 44 cents a share, in the year-ago quarter. Revenue doubled to $25.03 million from $12.61 million. Cronos Group matched the analyst estimate for a loss of 9 cent a share and beat the revenue target of $24 million, according to FactSet data. The Toronto-based cannabis company cited execution in product development, manufacturing and its marketing strategy. "Winning in Canada is one of the best ways to be prepared for legalization in the U.S.," said CEO Mike Gorenstein, the founder of the company who returned to his current position in March after the retirement of Kurt Schmidt. Shares of Cronos Group are down 27.8% in 2022 compared to a drop of 40.9% by the Cannabis ETF /zigman2/quotes/213173823/composite THCX -2.53% . The stock rose 0.7% in premarket trades.

/zigman2/quotes/206842762/composite
US : U.S.: Nasdaq
$ 3.41
-0.01 -0.29%
Volume: 1.05M
Aug. 5, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.28 billion
Rev. per Employee
$138,307
loading...
/zigman2/quotes/213173823/composite
US : U.S.: NYSE Arca
$ 3.85
-0.10 -2.53%
Volume: 18,453
Aug. 5, 2022 3:59p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.