Welcome to our dedicated page for Cronos Group news (Ticker: CRON), a resource for investors and traders seeking the latest updates and insights on Cronos Group stock.
Cronos Group Inc. (CRON) is a global leader in cannabis innovation, operating across medicinal and recreational markets with brands like Peace Naturals and Spinach. This page provides investors and industry observers with centralized access to official press releases, financial updates, and strategic developments.
Track CRON's progress through earnings reports, regulatory milestones, product launches, and partnership announcements. Our curated news collection ensures you stay informed about operational expansions, research breakthroughs, and market positioning in the evolving cannabis sector.
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In Q2 2022, Cronos Group reported a consolidated net revenue of $23.1 million, a 48% increase year-over-year. The Israeli market saw a remarkable 212% revenue growth, reaching $7.2 million. Despite a net loss of $20.3 million, a significant improvement from $179.4 million in Q2 2021, gross profit surged to $4.1 million. The company is actively realigning its U.S. strategy, focusing on adult-use products and a direct-to-consumer approach. Additionally, Cronos achieved its equity milestone with THCV, indicating strong future growth potential.
Cronos Group Inc. (NASDAQ: CRON) will host its 2022 Q2 earnings conference call on August 9, 2022, at 8:30 a.m. ET. The management team will discuss financial results and answer questions from the investment community after prepared remarks. Interested participants can register for the call and access the archived webcast on the Company’s website. Cronos is focused on advancing cannabis research and product development, with a brand portfolio that includes Spinach®, PEACE NATURALS®, Lord Jones®, Happy Dance®, and PEACE+®.
Cronos Group (NASDAQ: CRON) has launched its first product utilizing the VESIsorb® delivery system, developed in partnership with Geocann. This innovative technology enhances cannabinoid bioavailability and absorption speed. The initial product, CBD Gel Capsules by Lord Jones®, aims to provide consumers with a fast-acting cannabinoid experience. Cronos is dedicated to innovative product development, positioning itself to set industry benchmarks with Geocann's advanced technology. The two companies plan further collaborations to expand their cannabinoid offerings.
Cronos Group announced the results of its Annual Meeting of Shareholders held on June 23, 2022, where 265,763,587 common shares were voted, representing 70.76% of total shares. All nominees for the board of directors were elected, each receiving over 91.6% support. Notable votes included Kendrick Ashton, Jr. with 98.83% and Jason Adler with 92.14%. Additionally, 95.02% approved the compensation of named executive officers, and KPMG LLP was re-appointed as auditors. For full voting details, see the Company’s filings on SEDAR and EDGAR.
Cronos Group Inc. (NASDAQ: CRON) has announced the achievement of a third productivity milestone in its partnership with Ginkgo Bioworks, successfully producing tetrahydrocannabivarin (THCV). This milestone is part of their initiative to cultivate eight cannabinoids, enhancing Cronos’ innovation pipeline. Since launching in 2018, the partnership aims to develop cannabinoids at industrial scale. As part of this achievement, Cronos issued approximately 2.2 million common shares to Ginkgo. The collaboration is expected to advance Cronos’ product offerings and market presence.
Cronos Group (NASDAQ: CRON) and Ginkgo Bioworks (NYSE: DNA) have achieved a productivity milestone in their collaboration to produce cultured cannabinoids, specifically tetrahydrocannabivarin (THCV). This development is part of an initiative launched in 2018 aimed at creating rare cannabinoids at industrial scale. Cronos has issued approximately 2.2 million common shares to Ginkgo as a result of this achievement. The partnership underscores both companies' commitment to innovation in the cannabis industry, enhancing Cronos' product pipeline with potential market introductions for THCV.
Cronos Group Inc. (NASDAQ: CRON) announced that CEO Mike Gorenstein will present at two upcoming conferences: Canaccord Genuity's Cannabis Conference on May 11, 2022, and BMO’s Global Farm to Market Conference on May 19, 2022. Both events will be available via webcast on the Company's investor website. Cronos Group focuses on cannabis research, technology, and product development, boasting a diverse brand portfolio including Spinach® and PEACE NATURALS®. For further details, visit their official site.
Cronos Group reported a 99% increase in consolidated net revenue for Q1 2022, totaling $25.0 million, spurred by a 263% rise in Israel to $9.1 million. The company saw significant growth in market share in both Canada and Israel. CEO Mike Gorenstein emphasized a strategic realignment for profitability and sustainable growth, targeting $20 to $25 million in operational savings. Gross profit rose to $6.9 million, while the net loss narrowed to $32.7 million, improving 80% year-over-year.
Cronos Group will conduct its 2022 Annual Meeting of Shareholders on June 23, 2022, at 11:00 a.m. ET. The meeting will be held virtually, allowing registered shareholders and proxyholders to participate from any location. Detailed instructions for participation are available in the Company’s proxy statement on its website. A replay of the meeting will be accessible within 24 hours post-event. Cronos Group, a leading cannabinoid company, focuses on innovative product development and building a strong brand portfolio.
Cronos Group Inc. (NASDAQ: CRON) will conduct its Q1 2022 earnings conference call on May 10, 2022, at 8:30 a.m. ET. Senior management will present the financial results, followed by a Q&A session for investors. A live audio webcast will be accessible on the Company's website, with an archived replay available later. Cronos Group is dedicated to advancing cannabis research and technology, building a diverse brand portfolio including Spinach®, PEACE NATURALS®, and Lord Jones®. For further information, visit thecronosgroup.com.
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