Cronos Group Financials
This page shows Cronos Group (CRON) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Cronos Group has an operating margin of -11.9%, meaning the company retains $-12 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -65.1% the prior year.
Cronos Group's revenue surged 24.6% year-over-year to $146.6M, reflecting rapid business expansion. This strong growth earns a score of 99/100.
Cronos Group carries a low D/E ratio of 0.05, meaning only $0.05 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 19.59, Cronos Group holds $19.59 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Cronos Group generated $25.9M in operating cash flow, capex of $25.7M consumed most of it, leaving $149K in free cash flow. This results in a low score of 1/100, reflecting heavy capital investment rather than weak cash generation.
Cronos Group passes 6 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Cronos Group generates $-2.74 in operating cash flow ($25.9M OCF vs -$9.4M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Cronos Group generated $146.6M in revenue in fiscal year 2025. This represents an increase of 24.6% from the prior year.
Cronos Group's EBITDA was -$3.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 95.3% from the prior year.
Cronos Group generated $149K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 97.7% from the prior year.
Cronos Group reported -$9.4M in net income in fiscal year 2025. This represents a decrease of 123.0% from the prior year.
Cronos Group earned $-0.02 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 118.2% from the prior year.
Cronos Group held $791.8M in cash against $0 in long-term debt as of fiscal year 2025.
Cronos Group had 382M shares outstanding in fiscal year 2025. This represents a decrease of 0.2% from the prior year.
Cronos Group's gross margin was 42.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 21.4 percentage points from the prior year.
Cronos Group's operating margin was -11.9% in fiscal year 2025, reflecting core business profitability. This is up 53.2 percentage points from the prior year.
Cronos Group's net profit margin was -6.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 41.4 percentage points from the prior year.
Cronos Group invested $4.4M in research and development in fiscal year 2025. This represents an increase of 5.2% from the prior year.
Cronos Group spent $9.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Cronos Group invested $25.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 107.2% from the prior year.
CRON Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $44.5M+22.5% | $36.3M+8.6% | $33.5M+3.7% | $32.3M+6.5% | $30.3M-11.6% | $34.3M+23.4% | $27.8M+9.8% | $25.3M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $16.2M-11.7% | $18.3M+26.4% | $14.5M+5.6% | $13.7M+27.1% | $10.8M+199.3% | $3.6M-42.7% | $6.3M+40.5% | $4.5M |
| R&D Expenses | $1.4M+2.8% | $1.3M+44.8% | $929K+17.2% | $793K-22.9% | $1.0M-17.2% | $1.2M+29.1% | $962K-3.5% | $997K |
| SG&A Expenses | $12.9M+39.4% | $9.3M-12.2% | $10.5M+13.2% | $9.3M-22.9% | $12.1M-5.3% | $12.8M-0.1% | $12.8M+43.3% | $8.9M |
| Operating Income | -$7.5M-1390.3% | -$503K+90.6% | -$5.3M-30.7% | -$4.1M+64.2% | -$11.4M+66.2% | -$33.7M-116.3% | -$15.6M+2.4% | -$15.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$11.9M-803.9% | -$1.3M-150.7% | -$525K-15.4% | -$455K-122.7% | $2.0M+174.0% | -$2.7M-24.6% | -$2.2M-289.6% | -$558K |
| Net Income | -$1.8M-107.0% | $26.0M+165.4% | -$39.7M-748.7% | $6.1M-86.0% | $43.7M+423.8% | $8.3M+195.3% | -$8.8M-290.8% | -$2.2M |
| EPS (Diluted) | N/A | $0.07+170.0% | $-0.10-600.0% | $0.02-87.5% | $0.16+700.0% | $0.02+200.0% | $-0.02-100.0% | $-0.01 |
CRON Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B+1.6% | $1.2B+0.3% | $1.2B+1.9% | $1.2B-1.1% | $1.2B-1.5% | $1.2B+8.5% | $1.1B-1.6% | $1.1B |
| Current Assets | $944.1M+2.4% | $922.2M-0.5% | $927.1M+0.9% | $918.6M-1.9% | $936.1M-2.4% | $959.2M+2.6% | $935.3M-0.7% | $942.2M |
| Cash & Equivalents | $791.8M+1.0% | $784.2M-1.3% | $794.4M-0.4% | $797.8M-7.1% | $858.8M-0.4% | $862.0M+1.6% | $848.2M-0.8% | $855.1M |
| Inventory | $46.8M-2.9% | $48.2M+14.3% | $42.1M+21.8% | $34.6M+4.4% | $33.1M-29.8% | $47.3M+61.9% | $29.2M-4.8% | $30.6M |
| Accounts Receivable | $34.1M+25.9% | $27.1M+1.8% | $26.6M+42.2% | $18.7M+21.0% | $15.5M-24.5% | $20.5M+26.6% | $16.2M+5.5% | $15.3M |
| Goodwill | $66.5M+1.6% | $65.4M-2.2% | $66.9M+5.8% | $63.3M-0.3% | $63.5M+66.9% | $38.0M+3613.7% | $1.0M-1.1% | $1.0M |
| Total Liabilities | $54.2M+16.9% | $46.4M+3.0% | $45.0M+15.3% | $39.1M-29.4% | $55.3M+4.7% | $52.8M+49.8% | $35.3M-1.4% | $35.8M |
| Current Liabilities | $48.2M+17.3% | $41.1M+9.2% | $37.6M+13.8% | $33.0M-33.5% | $49.7M+25.6% | $39.6M+19.7% | $33.1M-1.1% | $33.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.1B+1.1% | $1.1B0.0% | $1.1B+1.5% | $1.1B+0.2% | $1.1B-1.6% | $1.1B+2.1% | $1.1B-1.6% | $1.1B |
| Retained Earnings | $447.8M-0.5% | $450.0M+6.1% | $424.1M-8.6% | $463.8M+1.3% | $457.7M+10.6% | $414.0M+2.1% | $405.6M-2.1% | $414.5M |
CRON Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $11.8M-11.1% | $13.3M+372.3% | $2.8M+234.4% | -$2.1M-127.2% | $7.7M-33.4% | $11.6M+564.2% | $1.7M+179.1% | -$2.2M |
| Capital Expenditures | $2.1M-52.3% | $4.5M+16.8% | $3.8M-74.9% | $15.3M+330.7% | $3.5M-44.8% | $6.4M+780.0% | $729K-57.7% | $1.7M |
| Free Cash Flow | $9.7M+9.9% | $8.8M+966.1% | -$1.0M+94.1% | -$17.4M-515.5% | $4.2M-19.2% | $5.2M+409.2% | $1.0M+125.8% | -$3.9M |
| Investing Cash Flow | $2.8M+112.1% | -$23.0M-2240.0% | -$983K+98.2% | -$55.4M-1000.1% | -$5.0M-515.2% | -$818K+90.4% | -$8.6M-104.5% | $189.6M |
| Financing Cash Flow | -$7.4M-297.8% | -$1.9M+75.7% | -$7.7M-162.3% | -$2.9M-836.1% | -$313K-2307.7% | -$13K+95.0% | -$260K+59.7% | -$645K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $4.3M+129.7% | $1.9M | N/A | N/A | $0 | $0 | N/A | N/A |
CRON Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.4%-14.1pp | 50.4%+7.1pp | 43.4%+0.8pp | 42.6%+6.9pp | 35.7%+25.1pp | 10.5%-12.1pp | 22.7%+4.9pp | 17.7% |
| Operating Margin | -16.8%-15.4pp | -1.4%+14.5pp | -15.9%-3.3pp | -12.6%+24.9pp | -37.5%+60.7pp | -98.2%-42.2pp | -56.0%+7.0pp | -63.1% |
| Net Margin | -4.1%-75.5pp | 71.4%+190.1pp | -118.7%-137.7pp | 19.0%-125.3pp | 144.3%+120.0pp | 24.4%+55.9pp | -31.5%-22.7pp | -8.9% |
| Return on Equity | N/A | 2.4% | N/A | 0.6%-3.5pp | 4.1%+3.3pp | 0.8%-19.4pp | 20.2%-23.8pp | 44.0% |
| Return on Assets | -0.1%-2.4pp | 2.2%+5.6pp | -3.4%-3.9pp | 0.5%-3.2pp | 3.8%+3.0pp | 0.7%+1.5pp | -0.8%-0.6pp | -0.2% |
| Current Ratio | 19.59-2.9 | 22.45-2.2 | 24.65-3.1 | 27.80+9.0 | 18.84-5.4 | 24.24-4.0 | 28.29+0.1 | 28.19 |
| Debt-to-Equity | 0.050.0 | 0.040.0 | 0.040.0 | 0.04-0.0 | 0.050.0 | 0.05+0.0 | 0.030.0 | 0.03 |
| FCF Margin | 21.8%-2.5pp | 24.3%+27.3pp | -3.0%+50.7pp | -53.8%-67.6pp | 13.8%-1.3pp | 15.1%+11.4pp | 3.7%+19.2pp | -15.5% |
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Frequently Asked Questions
What is Cronos Group's annual revenue?
Cronos Group (CRON) reported $146.6M in total revenue for fiscal year 2025. This represents a 24.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Cronos Group's revenue growing?
Cronos Group (CRON) revenue grew by 24.6% year-over-year, from $117.6M to $146.6M in fiscal year 2025.
Is Cronos Group profitable?
No, Cronos Group (CRON) reported a net income of -$9.4M in fiscal year 2025, with a net profit margin of -6.4%.
What is Cronos Group's earnings per share (EPS)?
Cronos Group (CRON) reported diluted earnings per share of $-0.02 for fiscal year 2025. This represents a -118.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Cronos Group's EBITDA?
Cronos Group (CRON) had EBITDA of -$3.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Cronos Group's gross margin?
Cronos Group (CRON) had a gross margin of 42.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Cronos Group's operating margin?
Cronos Group (CRON) had an operating margin of -11.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cronos Group's net profit margin?
Cronos Group (CRON) had a net profit margin of -6.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Cronos Group's free cash flow?
Cronos Group (CRON) generated $149K in free cash flow during fiscal year 2025. This represents a -97.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Cronos Group's operating cash flow?
Cronos Group (CRON) generated $25.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cronos Group's total assets?
Cronos Group (CRON) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cronos Group's capital expenditures?
Cronos Group (CRON) invested $25.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Cronos Group spend on research and development?
Cronos Group (CRON) invested $4.4M in research and development during fiscal year 2025.
Does Cronos Group buy back shares?
Yes, Cronos Group (CRON) spent $9.7M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Cronos Group have outstanding?
Cronos Group (CRON) had 382M shares outstanding as of fiscal year 2025.
What is Cronos Group's current ratio?
Cronos Group (CRON) had a current ratio of 19.59 as of fiscal year 2025, which is generally considered healthy.
What is Cronos Group's debt-to-equity ratio?
Cronos Group (CRON) had a debt-to-equity ratio of 0.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cronos Group's return on assets (ROA)?
Cronos Group (CRON) had a return on assets of -0.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cronos Group's Piotroski F-Score?
Cronos Group (CRON) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cronos Group's earnings high quality?
Cronos Group (CRON) has an earnings quality ratio of -2.74x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Cronos Group?
Cronos Group (CRON) scores 60 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.