Cronos Group Inc.

Cronos Group Reports 2026 Third Quarter Results

Cronos Group posted record Q3 2026 net revenue of $63.5 million, up 75% year-over-year as reported and 73% on a constant-currency organic basis, with records across net revenue, gross profit, and Adjusted EBITDA. Adjusted EBITDA more than tripled to $17.1 million, gross margin expanded to 50.9%, and the company generated $69.2 million of operating cash flow in the first nine months of 2026 while holding $840.6 million in cash and investments. GAAP net income of $17.8 million was down from $28.3 million a year ago on lower other income and higher operating expenses. Spinach maintained Canada's #1 vape and edibles brand positions, international revenue outside Israel grew 614%, and the CanAdelaar acquisition closed October 15, establishing a position in the Dutch adult-use market. The company repurchased 15.5 million shares for $42.3 million year-to-date.

•3d ago

Cronos Completes Acquisition of CanAdelaar, Europe’s Largest Adult-Use Cannabis Company

Cronos Group has completed its acquisition of CanAdelaar B.V., the largest cannabis company in the Netherlands' Wietexperiment adult-use pilot program, for a base price of €57.5 million plus a cash earnout of 0.5x Normalized EBITDA in each of 2026 and 2027. The deal values CanAdelaar at roughly 1.4x net revenue and 2.9x Adjusted EBITDA on 1H 2026 annualized figures, giving Cronos the #1 market share in what it calls Europe's largest adult-use cannabis market. CanAdelaar's revenue has grown from €15.2M in 2024 to €41.6M annualized in 1H 2026, though Adjusted EBITDA annualized to €20.1M from €24.2M TTM amid rising competition as the pilot became fully operational. The acquisition establishes Cronos' European platform and supports its borderless product strategy, with upside if the Wietexperiment expands beyond its current ten municipalities and 69 of 562 Dutch coffee shops.

•24d ago

Cronos’ brand Spinach® Expands its Best-Selling Lineups of Edibles and Vapes

Cronos Group's Spinach brand is expanding its Canadian lineup with the SOURZ by Spinach Blue Raspberry Lemonade Fully Blasted 10-pack, the brand's first gummy infused with 100% live resin, alongside two new vape flavors (Strawberry Banana 1.2g and Sweet Citrus Punch 1g liquid diamonds). Spinach holds leading positions in both categories: its Fully Blasted 10-pack is Canada's No. 1 edible multipack and the brand is the #1 vape brand in Canada with an 11% share of all vape sales as of June 2026, per HiFyre Retail Analytics. The new products are available now in Ontario with wider national availability later this fall, and management says it plans further product-launch announcements in Q4 2026. No financial figures or guidance were attached to the release.

•2mo ago

Cronos Group Reports 2026 Second Quarter Results

Cronos Group reported Q2 2026 net revenue of $53.0 million, up 58% year-over-year, with gross profit increasing 96% to $28.5 million and gross margin expanding to 54%. Adjusted EBITDA surged to $13.1 million from $1.7 million in the prior year, driving net income of $35.7 million compared to a net loss of $38.5 million. The company repurchased 12.3 million shares in the first half of 2026 and ended the quarter with $827 million in total liquidity.

•3mo ago

Cronos’ SOURZ by Spinach® Expands its Lineup of Edibles

Cronos Group is expanding its SOURZ by Spinach Fully Blasted multipack lineup with new rare cannabinoid formulations and a limited-time Orange Cream flavor for the summer season. The Spinach brand remains the top-selling edible nationally with a 20.8% market share as of May 2026, while its 10x10 multipacks specifically hold a 31.7% share in that category. The new SKUs featuring CBG, CBN, and CBC formulations are now available across Alberta, Manitoba, Ontario, and Saskatchewan.

•3mo ago

Cronos Announces Extension of Share Repurchase Program to the Toronto Stock Exchange

Cronos Group filed a notice of intention with the Toronto Stock Exchange to extend its existing share repurchase program to Canadian trading systems. The authorization allows for the purchase of up to US$50 million, or approximately 5.02% of outstanding common shares, through May 13, 2027. An exemption from the Ontario Securities Commission permits repurchases on U.S. exchanges in excess of standard Canadian limits.

•4mo ago

Spinach® is the Number One Vape Brand in Canada

Cronos Group announced that its Spinach vape portfolio has become the top-selling vape brand in Canada, capturing 10.4% market share in April 2026. The company has held the #1 position since January 2026, driven by high-purity extracts, distinctive terpene profiles, and advanced hardware. Cronos plans to launch several new SKUs this summer, including three new PUFFERZ flavors and a limited-time Orange Vanilla Twist vape infused with liquid diamonds.

•4mo ago

Cronos Expands Pre-Roll Portfolio with Spinach STIX®

Cronos Group has expanded the availability of its Spinach STIX cylindrical pre-rolls to additional provinces across Canada, including Ontario and British Columbia. The product launch targets a format that represented $17 million in Canadian retail sales in March 2026, as the pre-roll category accounts for over 33% of national retail dollar sales. CEO Mike Gorenstein noted that the expansion allows the company to meet evolving consumer preferences with a portable, sleek design.

•6mo ago