CRON - Cronos misses Q4 bottom-line estimates; to exit Peace Naturals Campus in 2022

Canadian cannabis player, Cronos Group (NASDAQ:CRON) posted a mixed performance with its Q4 2021 financials on Tuesday as earnings fell short of the consensus despite a revenue beat. In conjunction with the earnings, Cronos (CRON) announced its plans to exit Peace Naturals Campus, a cannabis production facility located in Stayner, Ontario. The decision was made to streamline the supply chain and raise profitability, the company said. Mainly due to the continued growth in the adult-use market in Canada and higher sales in the Israeli medical market, the revenue for the quarter and full-year grew ~51% YoY and ~59% YoY to reach $25.8M and $74.4M, respectively. However, Q4 and full-year net loss rose ~20% YoY and ~428% YoY to reach $133.9M and $397.2M. The gross profit for the quarter rose ~113% YoY to $1.9M, and gross loss for 2021 jumped ~32% YoY to $17.5M. While Cronos (CRON) will continue its operations at

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Cronos misses Q4 bottom-line estimates; to exit Peace Naturals Campus in 2022