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Cronos Group (CRON) investor relations material
Cronos Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net revenue increased 21% year-over-year to $33.5M for Q2 2025, driven by strong international and Israel sales, robust demand, and consolidation of Cronos GrowCo.
Gross profit rose 130% year-over-year to $14.5M, with gross margin expanding to 43% from 23% in Q2 2024.
Adjusted EBITDA improved to $1.7M from a loss of $11.1M in Q2 2024, reflecting higher revenue, lower cost of sales, and reduced operating expenses.
Net loss widened to $38.5M from $8.8M in Q2 2024, mainly due to a $39.5M foreign currency loss on U.S. dollar-denominated cash and investments held in Canada.
Cash and short-term investments totaled $834M as of June 30, 2025, with the company remaining debt-free.
Financial highlights
Q2 2025 net revenue: $33.5M (+21% YoY); six months: $65.7M (+24% YoY).
Gross profit for Q2 2025 was $14.5M, up $8.2M (130%) year-over-year; gross margin improved to 43% from 23%.
Adjusted EBITDA for Q2 2025 was $1.7M, a $12.7M improvement year-over-year.
Q2 2025 net loss: $38.5M (vs. $8.8M YoY), mainly due to unrealized FX losses.
Cash and short-term investments: $834M as of June 30, 2025.
Outlook and guidance
Management expects accelerated growth in H2 2025, supported by expanded flower capacity and international footprint.
The completed Cronos GrowCo expansion is expected to fuel further growth in both international and Canadian markets starting in Fall 2025.
Operating expenses are expected to remain relatively flat year-over-year for 2025.
Existing cash and investments are expected to fund operations and capital expenditures for the next twelve months.
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