Cronos Group (CRON) Q2 2026 earnings summary

Executive summary

• Achieved record net revenue, gross profit, and Adjusted EBITDA in Q2 2026, with net revenue up 58% year-over-year to $53.0M, driven by strong performance in Israel, Canada, and Germany.

• Net income reached $35.7M for Q2 2026, compared to a net loss of $38.5M in Q2 2025, primarily due to improved gross profit and other income.

• SpinachⓇ maintained #1 market share in vapes and edibles in Canada; PEACE NATURALSⓇ remained the top cannabis brand in Israel.

• Borderless product strategy and international expansion, especially in Germany, contributed to growth.

• Ongoing regulatory investigation in Israel regarding alleged dumping of Canadian cannabis imports, which management disputes and is cooperating with authorities.

Financial highlights

• Q2 2026 net revenue: $53.0M, up 58% year-over-year; six-month net revenue: $98.2M, up 49%.

• Q2 2026 gross profit: $28.5M, up 96% year-over-year; gross margin rose to 54% from 43%.

• Q2 2026 Adjusted EBITDA: $13.1M, up $11.4M year-over-year; six-month Adjusted EBITDA: $18.2M, up $14.2M.

• Q2 2026 net income: $35.7M vs. net loss of $38.5M in Q2 2025.

• Cash, equivalents, and short-term investments totaled $827.0M as of June 30, 2026.

Outlook and guidance

• Expecting to close the CanAdelaar acquisition in the Netherlands in the second half of 2026, pending regulatory clearance.

• Management expects existing cash and investments to be sufficient to fund operations and capital expenditures over the next twelve months.

• Well positioned to invest in growth while returning capital to shareholders, supported by a strong balance sheet and positive operating cash flow.

• Monitoring impact of Middle East conflict and anti-dumping investigations in Israel, with ongoing uncertainty.