- Cronos Group (CRON, Financial) reported net revenue growth of 28% in Q1 2025, reaching $32.3 million.
- The company recorded a net income of $7.7 million, a notable improvement from a $2.4 million loss in Q1 2024.
- A $50 million share repurchase program has been authorized, starting May 14, 2025.
Cronos Group (CRON) has announced robust financial results for the first quarter of 2025, highlighted by a significant 28% year-over-year increase in net revenue, totaling $32.3 million. The company’s net income stood at $7.7 million, marking a remarkable turnaround from the previous year's $2.4 million loss. This impressive performance includes a 206% surge in gross profit, reaching $13.7 million, with gross margins expanding to 43% from the previous 18%.
In Canada, Cronos's Spinach® brand continues to dominate the market, holding the #1 position in edibles with a 20% market share, #3 in flower (5.1% market share), and #4 in vapes (5.7% market share). The company maintains a strong presence in Israel with PEACE NATURALS® retaining its #1 market position.
Cronos Group continues to bolster its financial standing, boasting $838 million in cash and investments, providing significant financial flexibility for strategic initiatives. The company has also announced a $50 million share repurchase program, set to begin on May 14, 2025, which demonstrates confidence in its market position and future growth prospects.
On the expansion front, the Cronos GrowCo project is on track for completion in the second quarter of 2025, expected to address current supply constraints and drive future growth. However, the company faces potential challenges in Israel, with proposed tariffs of up to 165% on Canadian medical cannabis imports, which are currently contested by various governmental authorities.
