Highest On Record - Cronos Group Reports 46% YoY Increase In Q2 Net Revenue
Portfolio Pulse from Jelena Martinovic
Cronos Group Inc. (NASDAQ:CRON) reported a 46% year-over-year increase in Q2 2024 net revenue, reaching $27.8 million, the highest on record. The company saw significant growth in Canada, Israel, Germany, and initiated sales in the UK. Despite an operating loss of $15.6 million, this was an improvement from the previous year's $20.6 million. Shares traded 3.6% higher in pre-market.
August 08, 2024 | 12:51 pm
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Cronos Group reported a record 46% YoY increase in Q2 2024 net revenue, reaching $27.8 million. The company saw growth in multiple regions and initiated sales in the UK. Despite an operating loss, the results show improvement and shares traded 3.6% higher in pre-market.
The significant year-over-year revenue growth and record net revenue are positive indicators for Cronos Group. The improvement in operating loss and the pre-market share price increase suggest a positive short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100