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Cronos Group
Cronos Group (CRON) investor relations material
Cronos Group Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary26 Feb, 2026
Executive summary
Achieved record net revenue in Q4 2025 ($44.5M, up 47% YoY) and FY 2025 ($146.6M, up 25% YoY), driven by strong consumer demand in Canada, Israel, and international markets.
Canadian net revenue rose 42% YoY in Q4, led by flower, vapes, and edibles, with Spinach becoming the #2 vape brand nationally.
Eighth consecutive quarter of record net revenue in Israel, with PEACE NATURALS® as the top cannabis brand.
International markets saw robust growth: Israel net revenue up 52% YoY, other international markets up 68% led by Germany.
Announced acquisition of CanAdelaar, the largest operator in the Netherlands' legal adult use cannabis program, for €57.5 million upfront plus earnouts, expected to close H1 2026.
Financial highlights
Q4 2025 consolidated net revenue was $44.5 million, up 47% YoY; FY 2025 net revenue was $146.6 million, up 25% YoY.
Q4 2025 gross profit was $16.2 million (36% margin), up 50% YoY; FY 2025 gross profit was $62.8 million, up 149% YoY.
Q4 adjusted EBITDA was $0.5 million, up $7.7 million YoY; FY 2025 adjusted EBITDA was $10.1 million, up $45.1 million YoY.
Q4 2025 net loss was $0.5 million; FY 2025 net loss was $2.9 million, mainly due to foreign currency losses.
Ended Q4 with $791.8 million in cash and $40 million in short-term investments.
Outlook and guidance
Expects sustainable net revenue and Adjusted EBITDA growth in 2026, leveraging CanAdelaar acquisition and GrowCo expansion.
Guidance for gross margin to remain around the 43% FY 2025 level, with potential for expansion depending on market mix and CanAdelaar integration.
CapEx expected to remain below $10 million for 2026.
Focus remains on sustainable top-line growth, attractive gross margins, and disciplined cost management.
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Next Cronos Group earnings date
Q1 20267 May, 2026
Cronos Group
Next Cronos Group earnings date
Q1 20267 May, 2026
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Frequently asked questions
Cronos Group Inc. is a Canada-based company focused on the production and distribution of cannabis products. The company engages in the cultivation, manufacturing, and marketing of cannabis and hemp-derived products for medical and adult-use markets. Its portfolio includes dried flower, oils, edibles, and other cannabinoid-based products. Cronos Group operates through multiple brands and partnerships to serve domestic and international markets. Cronos Group Inc. is headquartered in Toronto, Canada, and its shares are listed on the NASDAQ and TSX.
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