Categories Cannabis, Earnings

Cronos (CRON) Q2 Earnings: Key financials and quarterly highlights

Cronos Group Inc. (NASDAQ: CRON) reported second quarter 2020 earnings results today.

Consolidated net revenues grew 29% year-over-year to $9.9 million, driven by continued growth in the adult-use Canadian cannabis market, sales from cannabis vaporizers and the Redwood acquisition.

Net loss amounted to $107.7 million, or $0.31 per share, compared to a net income of $185 million, or $0.16 per share.

During the second quarter, the company’s revenue growth rate in the US segment was materially impacted by COVID-19, as a significant number of retail customers experienced store closures, which hurt sales and demand.

Also Read:  Coupa Software (COUP) drops despite topping Q2 estimates; provides gloomy Q3 earnings outlook

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

COVID-19 drove retailers up the digital path years ahead than anticipated

Earlier we looked into how, during the COVID-19 pandemic, retailers saw changing trends in terms of their assortments and how the acceleration of online shopping led many of them to

Snowflake (SNOW) creates a record as the most successful software IPO ever; stock more than doubles

Data is at the heart of business innovation. Recognizing this trend, companies are seeking ways to transform their businesses by capturing, analyzing, and mobilizing data. The public cloud is becoming

Adobe (ADBE) sees new tailwinds as virtual shift gathers steam

The second half has been highly rewarding for design software maker Adobe Inc. (NASDAQ: ADBE) amid stable demand for digital content solutions. The company has remained unaffected by the virus-related