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Benzinga
Benzinga
Business
Vuk Zdinjak

Cronos Q3 Revenue Stagnates, Remains On Track For $20M In Operating Expense Savings

Cronos Cronos Group Inc Jeff Jacobson

Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) Q3 2022 net revenue was $20.9 million, a 2.5% increase compared to $20.4 million in Q3 2021. The increase year-over-year was primarily driven by an increase in net revenue in the rest of world segment driven by growth in the Israeli medical market and higher extract sales in the Canadian adult-use market, partially offset by a reduction in revenue in the U.S. segment, lower cannabis flower sales in the Canadian adult-use market driven by an adverse price/mix shift and the impact of the weakening Canadian dollar against the U.S. dollar during the current period.

Q3 2022 Financial Highlights

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