Cronos Group Reports 2020 First Quarter Results
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Cronos Group (CRON) Reports Q1 EPS of $0.20
May 8, 2020 7:35 AM EDTCronos Group (NASDAQ: CRON) reported Q1 EPS of $0.20, versus $0.33 reported last year. Revenue for the quarter came in at $8.43 million, versus $3 million reported last year.
First Quarter 2020
Net revenue of $8.4 million in Q1 2020 increased by $5.4 million from Q1 2019. The increase year-over-year was primarily driven by continued growth in the adult-use Canadian cannabis market, sales resulting from the launch of cannabis vaporizers to the Canadian market, including both adult-use and direct-to-consumer, and the inclusion of the Redwood acquisition in our financial results.Gross profit (loss) of $(6.5) million in Q1 2020 decreased by $8.0... More