Core Viewpoint - Cannabis investors are concerned that the DEA's decision to delay the public meeting on cannabis rescheduling until December 2, 2024, may indicate that marijuana rescheduling is unlikely before the next presidential election [1][2]. Group 1: Impact on Cronos Group - Shares of Cronos Group fell by 4.1% and reached a decline of 5.7% earlier in the day following the DEA's announcement [1]. - Despite not currently selling cannabis products in the U.S. and having exited the U.S. hemp-derived CBD market, Cronos Group is interested in entering the U.S. cannabis market in the future [3][4]. - The DEA's timeline raises concerns that cannabis may not be rescheduled before the next president takes office in January 2025, which could hinder Cronos Group's potential market entry [4]. Group 2: Financial Performance and Investment Outlook - Cronos Group reported a net loss of $8.7 million in its latest quarter, indicating ongoing unprofitability [5]. - The company has opportunities in Europe; however, the absence of a U.S. presence limits its growth prospects [5]. - Investors seeking to profit from the cannabis market may find better alternatives that are already profitable and have stronger growth prospects compared to Cronos Group [5].

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Investors were clearly impressed by one particular metric in the company's freshly issued quarterly earnings report. The market caught a nice buzz from Cronos Group (CRON 4.50%) on the second-to-last day of the trading week. The Canadian pot company unveiled its second-quarter results, and investors found them encouraging enough to send Cronos stock nearly 5% higher. By comparison, the benchmark S&P 500 index increased by 2.3%. Lighting up in Canada For its second quarter, Cronos -- which reports in U.S. do ...

Financial Data and Key Metrics Changes - The company reported consolidated net revenue of $27.8 million, a 46% increase from the prior year, with constant currency revenue increasing by 49% to $28.3 million [10] - Gross profit was $6.3 million, equating to a 23% gross margin, representing a $3.2 million improvement in gross profit and roughly a 600 basis point improvement in gross margin [10] - Consolidated adjusted EBITDA was negative $11.1 million, representing a $4.9 million improvement from the prior year period [10] Business Line Data and Key Metrics Changes - Spinach brand achieved a 6.2% market share in the flower category in Canada, with successful product launches like Spinach Grindz [6] - In the edibles category, Spinach had a 15.6% market share, with new product launches such as SOURZ by Spinach Tropical Party Pack [7] - The vape category saw Spinach holding a number four market position with 6.8% of retail sales [8] Market Data and Key Metrics Changes - The Canadian market has experienced significant supply and demand imbalances, leading to price compression and a shortage of high-quality cannabis [4][5] - International markets, particularly Israel and the UK, have shown growth potential, with successful product launches and improved pricing strategies [9] Company Strategy and Development Direction - The company is focusing on expanding GrowCo to meet global demand for high-quality cannabis flower, with an investment of approximately $51 million [5] - There is a strategic emphasis on developing a borderless product portfolio and entering new markets as they become available [9][12] - The company aims to achieve operational cost savings of $5 million to $10 million on a standalone basis [11] Management's Comments on Operating Environment and Future Outlook - Management highlighted the shift in supply dynamics, indicating a shortage of high-quality flower and the potential for pricing increases as international markets expand [14] - The company remains confident in its trajectory of growing revenue, improving margins, and reducing costs while innovating [12] Other Important Information - The company ended the quarter with $848 million in cash and cash equivalents, down by $6.9 million from Q1, but cash flow from operations was positive $1.7 million [12] - The consolidation of GrowCo's results in Q3 is expected to highlight its performance and advantages to the overall business [11] Q&A Session Summary Question: Regarding the GrowCo investment and cost-benefit analysis - Management explained that the investment in GrowCo is strategic due to the consistent production of high-quality flower and the expanding international markets, which present a good risk-reward scenario [14] Question: Plans for PEACE NATURALS Campus and its operational impact - Management clarified that PEACE NATURALS is not idle and is actively used for producing edibles and packaging, thus not causing any operational drag [16]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------|----------------------------------------------------------- ...

Exhibit 99.1 Cronos Group Reports 2024 Second Quarter Results Net revenue in Q2 2024 increased by 46% year-over-year to $27.8 million Industry-leading balance sheet with $848 million in cash and cash equivalents Announced expansion of Cronos GrowCo designed to fuel global growth TORONTO, August 8, 2024 - Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos" or the "Company") today announced its 2024 second quarter business results. "Cronos achieved its highest quarterly net revenue on record in Q2 2024 at ...

Net revenue in Q2 2024 increased by 46% year-over-year to $27.8 million Other Data Cash and cash equivalents(iv) $ 848,189 $ 409,428 $ 438,761 107 % Industry-leading balance sheet with $848 million in cash and cash equivalents Announced expansion of Cronos GrowCo designed to fuel global growth TORONTO, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos" or the "Company") today announced its 2024 second quarter business results. "Cronos achieved its highest quarterly net ...

To attend the conference call or webcast, participants should register online at https://ir.thecronosgroup.com/events-presentations. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. The webcast of the call will be archived for replay on the Company's website. Cronos is an innovative global cannabinoid company committed to building disruptive intellectual property by advancing cannabis research, technology and product development. ...

TORONTO, July 22, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos" or the "Company") announces that at its Annual Meeting of Shareholders (the "Meeting") reconvened July 19, 2024, approximately 98.6% of shareholders voting in person or by proxy approved the appointment of Davidson & Company LLP as the Company's independent auditor for fiscal year 2024 and authorized the Board of Directors of the Company to fix the independent auditor's remuneration. For complete results on all ...

TORONTO, July 22, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos" or the "Company") announces that at its Annual Meeting of Shareholders (the "Meeting") reconvened July 19, 2024, approximately 98.6% of shareholders voting in person or by proxy approved the appointment of Davidson & Company LLP as the Company's independent auditor for fiscal year 2024 and authorized the Board of Directors of the Company to fix the independent auditor's remuneration. Cronos is an innovative glo ...