| Sarah Clark –
Cronos Group Inc reported record net revenue of US$53 million in the three months ended June 30, 2026 (Q2 FY2026), gross profit of $28.5 million, and net income of $35.7 million (all figures reported in US dollars unless otherwise noted).
Net revenue increased 58% year-over-year from Q2 FY2025, gross profit increased 96%, and net income increased from a $38.5 million loss. Net revenue from sales of cannabis flower was $39.2 million, up 57% YOY. Sales of cannabis extracts were $13.8 million, up 65% YOY.
The majority of those sales were in Canada in the most recently reported quarter, $28.7 million, up 50% YOY. Sales to Israel, the company’s second-largest market, were $15 million, up 60% YOY. Sales to all other countries, including Germany, were $9.3 million, up 88% YOY.
The company incurred $17.6 million in excise taxes on its cannabis sales. As the company recorded $28.7 million in domestic sales, this would place the excise rate at 61%, assuming the domestic sales did not include any wholesaling.
On May 8, 2026, Cronos entered into an amendment to a sale and purchase agreement pursuant to which the parties agreed to extend the Long Stop Date for closing of the acquisition of the issued and outstanding shares of CanAdelaar, from June 9, 2026 to September 9, 2026. CanAdelaar is one of ten licensed cannabis producers participating in the Dutch Controlled Cannabis Supply Chain Experiment. Cronos expects the acquisition to close in the second half of 2026.
On August 5, 2026, the Trade Levies Commissioner of the Israel Ministry of Economy and Industry notified Cronos (and other companies) of the initiation of a new investigation into allegations of Canadian cannabis companies “dumping” product into the Israeli medical cannabis market. Cronos disputes the allegations.
Cronos Group Inc reported record net revenue of US$53 million in the three months ended June 30, 2026 (Q2 FY2026), gross profit of $28.5 million, and net income of $35.7 million (all figures reported in US dollars unless otherwise noted).
Net revenue increased 58% year-over-year from Q2 FY2025, gross profit increased 96%, and net income increased from a $38.5 million loss. Net revenue from sales of cannabis flower was $39.2 million, up 57% YOY. Sales of cannabis extracts were $13.8 million, up 65% YOY.
The majority of those sales were in Canada in the most recently reported quarter, $28.7 million, up 50% YOY. Sales to Israel, the company’s second-largest market, were $15 million, up 60% YOY. Sales to all other countries, including Germany, were $9.3 million, up 88% YOY.
The company incurred $17.6 million in excise taxes on its cannabis sales. As the company recorded $28.7 million in domestic sales, this would place the excise rate at 61%, assuming the domestic sales did not include any wholesaling.
On May 8, 2026, Cronos entered into an amendment to a sale and purchase agreement pursuant to which the parties agreed to extend the Long Stop Date for closing of the acquisition of the issued and outstanding shares of CanAdelaar, from June 9, 2026 to September 9, 2026. CanAdelaar is one of ten licensed cannabis producers participating in the Dutch Controlled Cannabis Supply Chain Experiment. Cronos expects the acquisition to close in the second half of 2026.
On August 5, 2026, the Trade Levies Commissioner of the Israel Ministry of Economy and Industry notified Cronos (and other companies) of the initiation of a new investigation into allegations of Canadian cannabis companies “dumping” product into the Israeli medical cannabis market. Cronos disputes the allegations.