CRON - Cronos shares fall after Q4 results

Cronos Group (CRON) Q4 results:Revenues: $17.05M (+133.6%), beating estimates by $3.29M. (primarily driven by continued growth in the adult-use market in Canada, sales in the Israeli medical market and growth in its U.S. segment.).Gross loss of $16.7M in Q4 2020 decreased by $4.8M from Q4 2019. The decrease in losses year-over-year was primarily driven by a decline in inventory write-downs.Shares down nearly 2% premarket.Gross margin of -87% vs. -275% in Q4 2019.Adjusted EBITDA loss of $53.1M in Q4 2020 increased by $1.5M from Q4 2019.Capital expenditures of $11M in Q4 2020 increased by $10.2M from Q4 2019. The increase year-over-year was primarily driven by spending at the company's Peace Naturals campus, Cronos Fermentation, Israeli facility, and its new ERP system.The company warned that prolonged closures of retail stores due to government mandated lockdowns as well as the changes in consumer purchasing behavior in Canada during the COVID-19 pandemic are expected to have a negative impact on its short-term revenue growth in the

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Cronos shares fall after Q4 results