Categories AlphaGraphs, Cannabis, Earnings

Infographic: Highlights of Cronos’ (CRON) Q4 2021 earnings report

Cronos Group Inc. (NASDAQ: CRON) has reported a wider net loss for the fourth quarter of 2021, despite a double-digit increase in revenues. The bottom line was impacted by a sharp increase in operating expenses.

The Canada-based cannabis producer reported a comprehensive net loss of $132.7 million or $0.36 per share for the fourth quarter, compared to a loss of $60.4 million or $0.31 per share last year.  

On the other hand, net revenues increased 51% year-over-year to $25.7 million, supported by continued growth in the sales of adult-use cannabis outside the U.S., especially in Canada and Israel.

“Our fourth quarter 2021 results indicate positive momentum, which we will look to carry forward as we begin to implement our strategic and operational realignment initiatives. As we look to 2022, we will continue to realign Cronos Group’s organizational structure to match our strategy, with a primary focus on adult-use products and elevating our brands through rare cannabinoids,” said Kurt Schmidt, chief executive officer of Cronos Group.

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

Most Popular

WBA Earnings Preview: Will Walgreens’ Q3 report bring cheer to investors?

Walgreens Boots Alliance, Inc. (NASDAQ: WBA) has been facing challenges due to higher operating costs, rising competition, and an unfavorable retail environment. These factors have put pressure on the drugstore

Main points from Accenture’s (ACN) Q3 2024 earnings report

Shares of Accenture (NYSE: ACN) rose 6% on Thursday, following the company’s announcement of its third-quarter 2024 earnings results. Although revenue and profits missed expectations, the stock jumped after the

ACB Earnings: Aurora Cannabis reports narrower Q4 loss on higher revenues

Aurora Cannabis, Inc. (NASDAQ: ACB) on Thursday reported a net loss for the fourth quarter of 2024. The company’s revenues moved up 5% year-over-year during the quarter. The Canada-based recreational

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top