CRON earnings analysis
What we found in CRON's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Cronos Group reported Q1 2026 results with net revenue of $45.2 million, marking a 40% year-over-year increase but falling short of analysts' expectations of $54.5 million. Noteworthy is the adjusted EBITDA of $5.1 million, driven largely by international sales expansion, particularly in Israel. The company holds a substantial cash position of $822 million and remains engaged in a $50 million share repurchase initiative.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth of 40% YoY
- Net revenue reached $45.2 million for Q1 2026, up from $32.3 million in Q1 2025.
- Strong Net Income Performance
- Net income attributable to Cronos Group was $13.8 million, compared to $6.1 million in the prior year, a 126% increase.
- Adjusted EBITDA Surge
- Adjusted EBITDA improved to $5.1 million, a 122% growth from $2.3 million in Q1 2025.
- Significant Cash Position
- As of March 31, 2026, Cronos had $821.9 million in cash and cash equivalents.
- Share Repurchase Program Ongoing
- The company plans to execute a share repurchase program of up to $50 million, with $16.7 million already used for repurchases.
- Lower Inventory Write-Down
- Inventory write-downs increased to $0.7 million from zero in the prior year, indicating better inventory management.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Inventory Write-Downs
- The company incurred $0.7 million in inventory write-downs for Q1 2026 due to unusable inventory.
- Geopolitical Risks in Israel
- Continued conflict in the Middle East could impact operations and product supply in Israel, a key market.
- Anti-Dumping Investigations
- Ongoing investigations may threaten operations in Israel, potentially affecting future revenue.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.04
- Gross margin
- 42%
- Operating margin
- -4.05%
What they said about what is next.
No explicit guidance provided, outlook details deferred.
The filing reads worse than the one before it.
What came before.
- 10-K · February 26, 2026
- Cronos reported Q4 net revenue of $44,531,000 and diluted EPS of $0.00, with a strong gross margin (69.7%) but continuing negative operating margin (-8.2%) for the quarter. The 10-K emphasizes a single consolidated…
- 10-Q · May 8, 2025
- Cronos Group reported Q1 2025 net revenue of $32,262 (in thousands), up from $25,288 in Q1 2024, with gross profit rising to $13,734 (in thousands). Operating loss narrowed to $(4,072) (in thousands) and the company…
- 10-K · February 27, 2025
- Cronos presents a strategy focused on building iconic brands, expanding international distribution and scaling supply via the Cronos GrowCo expansion. The company consolidated Cronos GrowCo on July 1, 2024, producing a…
- 10-Q · November 12, 2024
- Cronos Group reported Q3 net revenue of $34,264,000 (up $9,454,000 or ~38% vs. $24,810,000 in Q3 2023) and diluted EPS of $0.02. Operating results remain weak with an operating loss of $33,655,000, but net income was…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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