Cronos Group reports US$63.5M sales as international demand grows. Quarter-end cash, restricted cash and deposits totalled US$840.6 million before the October CanAdelaar acquisition. Quarterly sales rose 75 per cent to US$63.5 million as Cronos Group Inc. TSECRON NASDAQCRON reported its third-quarter results on Thursday. Cash and equivalents stood at US$411.2 million on Sept. 30, within a US$840.6 million total that also included restricted cash and interest-bearing deposits. For the quarter ended Sept. 30, net income fell to US$17.8 million from US$28.3 million a year earlier, despite the higher sales. Gross margin edged up to 50.9 per cent from 50.4 per cent, while lower other income, higher operating expenses and a tax provision weighed on earnings. Cronos is a Toronto-based cannabis producer with branded sales in Canada and an international business supplying medical markets. The quarter-end funding snapshot precedes the CanAdelaar acquisition, which closed in October. Chief executive Mike Gorenstein said positive operating cash flow through September supported investment, share repurchases and flexibility for further acquisitions. Cronos shares closed at C$4.93 in Toronto at 4 p.m. EST on Nov. 4, according to TSECRON, before the results were released. That close provides no measure of the market's response to Thursday's announcement. International sales lift gross profit. Cronos attributed the sales increase to cannabis flower demand in Israel and Germany, alongside higher Canadian flower and extract sales. Revenue also benefited from the stronger Israeli shekel against the U.S. dollar; organic growth at constant exchange rates was 73 per cent. Gross profit reached US$32.3 million in the quarter ended Sept. 30, up from US$18.3 million a year earlier. The company attributed the improvement to higher average selling prices as sales shifted toward international markets without excise taxes, along with increased volumes that spread fixed overhead costs. "Outside of Israel, our international business also delivered another record net revenue quarter, led by strong demand in Germany," Cronos chief executive Mike Gorenstein said in the release. Canada supplied another source of growth in the quarter. Cronos said retail sales of its Spinach products increased 41 per cent from a year earlier, compared with nationwide cannabis retail sales growth of 1 per cent. Inventory write-downs rose to US$1.6 million from US$506,000 in the quarter ended Sept. 30, absorbing part of the sales gain. Adjusted EBITDA, a non-GAAP measure of earnings before interest, taxes, depreciation and amortization, rose to US$17.1 million from US$5.7 million in the quarter ended Sept. 30. Higher gross profit outweighed increases in sales, marketing and administrative costs. Cash generation supports expansion. Of the Sept. 30 funding total, US$330 million was in short-term investments and US$95.6 million in non-current interest-bearing deposits. Restricted cash accounted for US$3.8 million. Capital expenditure reached US$9.9 million in the quarter ended Sept. 30, compared with US$4.6 million a year earlier. Spending through September was US$13.7 million, below the US$23.8 million spent in the corresponding prior-year period. A U.S. peer, Trulieve Cannabis Corp. NYSETRLV, reported US$230 million in third-quarter revenue and US$74 million in operating cash flow on Nov. 5. Its gross margin was 64 per cent, although its results cover medical operations and prior periods included the subsequently deconsolidated Harvest business. Trulieve also reported receipt of DEA registrations for state-licensed medical marijuana dispensaries in its Nov. 5 release. That regulatory development sits alongside its earnings, while Cronos attributed its September-quarter growth to existing Canadian and international sales. Cronos scheduled its results conference call for Nov. 5 at 8:30 a.m. EST to discuss the third-quarter financial results.

Cronos Group reported record net revenue, gross profit and Adjusted EBITDA for the third quarter of 2026. Net revenue rose to $63.5 million, up $27.1 million from a year earlier, driven by flower sales in Israel, Germany and Canada. Gross profit increased by $14.0 million to $32.3 million, and Adjusted EBITDA improved by $11.4 million to $17.1 million. Net income fell to $17.8 million from $28.3 million, due to lower other income, higher operating expenses and an income tax provision. Its Spinach brand held the top spot in Canadian vapes and edibles. Cronos Israel posted its eleventh straight record quarter. The company completed its CanAdelaar B.V. acquisition on October 15, 2026, gaining a position in the Netherlands. It repurchased 3.2 million shares for $9.4 million in the quarter.