The earnings call highlighted strong revenue growth and improved gross margins, driven by international expansion and robust market positioning in Canada. However, challenges with flower supply constraints and limited growth in the Canadian market were noted. Overall, the positive aspects significantly outweigh the negative, indicating a strong performance for the quarter.

Company Guidance -

Q3 2025

During Cronos Group's 2025 Second Quarter Earnings Conference Call, the company reported a 21% year-over-year increase in net revenue, amounting to $33.5 million, with $31.2 million from Cronos excluding GrowCo. The gross profit was $14.5 million, resulting in a gross margin of 43%, a notable improvement from the previous year's 23%. Operating expenses, excluding restructuring costs, decreased by $2.3 million to $19.1 million. Adjusted EBITDA improved by $12.7 million year-over-year to $1.7 million. The company held $834 million in cash, cash equivalents, and short-term investments at the end of the quarter. The Spinach brand achieved a 4.7% market share in Canada, with 4.9% in the flower category and 6.5% in the vape category, while the Lord Jones brand led the hash-infused pre-roll segment with a 28.5% market share. Internationally, Cronos Israel posted a 36% revenue growth, with PEACE NATURALS securing over 20% market share in Israel. The company remains well-positioned for growth with its strategic investments and the upcoming expansion at GrowCo.

Significant Revenue Growth

Cronos reported consolidated net revenue of $33.5 million, a 21% increase from the prior year period.

Improved Gross Margin

Gross profit in the second quarter was $14.5 million, equating to a 43% gross margin, a significant improvement from 23% in Q2 2024.

Strong Market Position in Canada

Spinach brand ended Q2 as the #2 cannabis brand in Canada with a 4.7% market share across formats. In the vape category, Spinach achieved the #4 position overall with 6.5% share.

International Expansion Success

Cronos Israel posted a record quarter growing revenue by 36% year-over-year, and PEACE NATURALS ended the quarter as the #1 flower brand in Israel with over 20% market share.

Strong Balance Sheet

Cronos maintains the strongest balance sheet in the industry with no debt and cash equivalents and short-term investments of $834 million.

Successful Cost Management

Operating expenses, excluding restructuring costs, were $19.1 million in the quarter, a year-over-year decline of $2.3 million.

Cronos Group (CRON) Earnings, Revenues Date & History

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CRON Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	- / -	0.02	―	―	―
Aug 07, 2025	2025 (Q2)	-0.10 / -0.10	-0.02	-400.00% (-0.08)	―
May 08, 2025	2025 (Q1)	0.01 / 0.02	-0.01	300.00% (+0.03)	―
Feb 27, 2025	2024 (Q4)	0.00 / 0.11	-0.12	191.67% (+0.23)	―
Nov 12, 2024	2024 (Q3)	<0.01 / 0.02	0	―	―
Aug 08, 2024	2024 (Q2)	>-0.01 / -0.02	-0.01	-100.00% (-0.01)	―
May 09, 2024	2024 (Q1)	-0.01 / -0.01	-0.05	80.00% (+0.04)	―
Feb 29, 2024	2023 (Q4)	-0.04 / -0.12	-0.21	42.86% (+0.09)	―
Nov 08, 2023	2023 (Q3)	-0.02 / 0.00	-0.1	―	―
Aug 08, 2023	2023 (Q2)	-0.03 / -0.01	-0.05	80.00% (+0.04)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CRON Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 07, 2025	$2.10	$2.27	+8.10%
May 08, 2025	$1.85	$2.00	+8.11%
Feb 27, 2025	$1.85	$2.00	+8.11%
Nov 12, 2024	$1.97	$2.26	+14.72%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.