Cronos Group Announces Q1 2018 Results

- May 15th, 2018

Cronos Group issued its financial results for the first quarter of the year, which ended March 31, 2018.

Cronos Group (NASDAQ:CRON; TSXV:CRON) issued its financial results for the first quarter of the year, which ended March 31, 2018.

As quoted in the press release:

“We are pleased that the strategic initiatives launched in 2017 are coming to fruition,” said Mike Gorenstein, CEO of Cronos Group. “2017 was a building block year which set the groundwork and foundation for the results achieved in the first quarter. Cronos is focused on continuing to increase capacity in order to serve existing distribution and newly established markets, developing intellectual property and launching recreational brands.”

First Quarter 2018 Highlights

  • Sales were $2.9 million for the first quarter of 2018 as compared to $0.5 million for the first quarter of 2017, representing an increase of $2.4 million, or 473 [percent].  Compared to the fourth quarter of 2017, sales increased by $1.3 million, or 83 [percent], for the first quarter of 2018.
  • Since November 2017 when Health Canada approved the Company’s new extraction laboratory, Cronos Group has ramped-up production of strain-specific cannabis oils that have been received favorably by customers. In Q1 2018, cannabis oil sales represented 29 [percent] of domestic medical patient revenue. The Company expects oil sales to continue to become a larger part of sales over time.

Click here to read the full press release.

Get the latest Cannabis Investing stock information

Get the latest information about companies associated with Cannabis Investing Delivered directly to your inbox.

Cannabis Investing

Select All
Select None

By selecting company or companies above, you are giving consent to receive communication from those companies using the contact information you provide. And remember you can unsubscribe at any time.


Leave a Reply

Your email address will not be published. Required fields are marked *