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!

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