Cronos Group reported second quarter net income of $35.7 million, compared with a $38.5 million loss a year earlier, as net revenue climbed 58% year over year to $53.0 million. Gross profit nearly doubled, up 96% to $28.5 million, gross margin expanded 11 percentage points to 54%, and adjusted EBITDA jumped to $13.1 million from $1.7 million. The company disclosed that on August 5 Israeli regulators notified it of a new investigation into alleged dumping of Canadian cannabis imports, a threat aimed at the market driving most of its growth; Cronos disputes the allegations but cannot predict the outcome. Cronos Israel logged its tenth consecutive quarter of record net revenue, up 60% year over year, while international net revenue outside Canada and Israel also hit a record, growing 88% on strong German flower demand. The company repurchased 12.3 million shares in the first half of 2026 while holding $827 million in cash, deposits and short-term investments, though cash and cash equivalents alone fell 41% to $467 million and capital expenditures dropped 54% to $1.8 million.
Cronos Group IncCronos swung to $35.7M net income with revenue up 58%, gross margin expanding to 54%, and adjusted EBITDA jumping to $13.1M.
