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Cronos Group Inc CRON

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Morningstar’s Analysis

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Capital Allocation

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Larger Investments Offset Top--Lline Growth to Drive Flat Profit in Cronos’ Q1; Shares Fairly Valued

Analyst Note

| Kristoffer Inton |

As was the case in the fourth quarter, Cronos’ top-line growth didn’t translate into profit growth. First-quarter revenue was up 50% over the prior-year quarter to $12.6 million, largely due to continued growth in the Canadian recreational and international medical market. However, adjusted EBITDA was largely flat over the prior year at a loss of $37 million, as increased sales and marketing and R&D expenses offset sales growth.

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Company Profile

Business Description

Cronos Group, headquartered in Toronto, Canada cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach. Although it primarily operates in Canada, Cronos exports medical cannabis to Poland and Germany. In addition, it has entered joint ventures in Israel, Colombia, and Australia to drive further international cultivation and distribution growth and acquired Redwood Holdings to sell CBD in the U.S.

Contact
111 Peter Street, Suite 300
Toronto, ON, M5V2G9, Canada
T +1 416 504-0004
Sector Healthcare
Industry Drug Manufacturers - Specialty & Generic
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 665