NASDAQ$CRON
Cronos Group Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Cronos Group's performance was marked by substantial revenue growth and strategic realignments.
Cronos Group reported a 99% year-over-year increase in net revenue to $25.0 million in Q1 2022, driven primarily by growth in the Israeli medical market and the Canadian adult-use market. The company's gross profit improved significantly, and it initiated a strategic realignment to optimize operations and drive sustainable growth.
- Net revenue increased by 99% year-over-year to $25.0 million, driven by growth in international markets.
- Gross profit improved by $9.9 million compared to Q1 2021, driven by increased cannabis flower revenue and introduction of cannabis extract products.
- Strategic realignment initiated to centralize functions, evaluate the global supply chain, and optimize cash deployment.
- Spinach® brand continues to grow market share in Canada, holding approximately 13% market share in the edibles category.
Headline financials
Revenue & EPS history
Cronos · Revenue · Quarterly
$25M
Revenue by segment
Cronos · $25M total across 2 segments · Q1 2022
- Israel and Other$22.7M+123.3%90.7%
- Canada$2.33M-4.6%9.3%
Forward guidance
The company expects to achieve $20 to $25 million in savings across operating expense categories in 2022 through its strategic realignment initiative.
Tailwinds
- Strategic realignment expected to deliver $20 to $25 million in savings in 2022.
- Centralizing functions to increase efficient distribution of resources.
- Evaluating the global supply chain and reducing complexity and fixed expenses.
- Optimizing cash deployment for margin accretive innovation.
- Spinach® brand continues to grow market share across Canada.
Headwinds
- Uncertainties associated with the COVID-19 pandemic.
- Uncertainty regarding the application of U.S. state and federal law to U.S. hemp products.
- Risks associated with international activities and joint venture interests.
- Potential delays or challenges in exiting the Stayner Facility.
- Legal or regulatory obstacles that could prevent the company from being able to exercise the PharmaCann Option.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2022
-1.8%
Avg return
Earnings day
-1.4%
Avg return
5 days after
+3.8%
Avg return
30 days after
34%
13 / 38 earnings
Positive
+35.6%
Q3 2020
Best reaction
-19.2%
Q2 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +7.5% | +3.1% | +7.5% | |
| Q4 2025 | -3.6% | -6.1% | -9.7% | |
| Q3 2025 | +0.4% | +2.9% | +1.6% | |
| Q1 2025 | +8.2% | +10.3% | +7.0% | |
| Q4 2024 | +8.1% | +9.2% | -3.2% | |
| Q3 2024 | +10.2% | +2.0% | -0.5% | |
| Q2 2024 | -0.9% | +5.0% | -3.6% | |
| Q1 2024 | +7.4% | +13.6% | -5.8% | |
| Q4 2023 | -10.6% | -12.8% | +15.5% | |
| Q3 2023 | +4.2% | +6.3% | +11.1% | |
| Q2 2023 | -3.8% | -5.5% | +13.7% | |
| Q1 2023 | -5.5% | -13.1% | -14.6% | |
| Q4 2022 | +1.0% | +1.0% | -10.0% | |
| Q3 2022 | -10.1% | -1.0% | -6.2% | |
| Q2 2022 | -15.4% | -11.5% | -14.5% | |
| Q1 2022 | +5.3% | +15.5% | -0.4% | |
| Q4 2021 | -1.4% | -10.9% | +8.7% | |
| Q3 2021 | -11.1% | -12.1% | -4.7% | |
| Q2 2021 | -2.6% | -6.6% | -12.3% | |
| Q1 2021 | -4.3% | -6.0% | +13.0% | |
| Q4 2020 | +2.2% | -4.4% | -13.9% | |
| Q3 2020 | +35.6% | +31.2% | +55.8% | |
| Q2 2020 | -19.2% | -20.5% | -22.8% | |
| Q1 2020 | -5.7% | -13.4% | +18.1% | |
| Q4 2019 | -9.9% | +3.0% | +7.6% | |
| Q3 2019 | -10.1% | -22.3% | -9.7% | |
| Q2 2019 | -7.4% | -3.5% | -17.3% | |
| Q1 2019 | -0.4% | -1.4% | +3.1% | |
| Q4 2018 | -11.2% | -10.2% | -19.5% | |
| Q3 2018 | -3.9% | +1.3% | +34.7% | |
| Q2 2018 | +9.4% | +12.2% | +73.4% | |
| Q4 2017 | -8.5% | +4.1% | +18.1% | |
| Q1 2018 | -7.9% | -5.0% | +5.6% | |
| Q3 2017 | -7.2% | — | — | |
| Q2 2017 | +1.3% | — | — | |
| Q1 2017 | -5.1% | — | — | |
| Q4 2016 | -0.9% | — | — | |
| Q3 2016 | -1.6% | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — |
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