Start here if you're new
what it is
Cronos sells cannabis and hemp-branded products in the U.S. and overseas.
how it gets paid
Last year Cronos made $147M in revenue. U.S. hemp-derived products was the main engine at $58M, or 40% of sales.
why it's growing
Revenue grew 24.6% last year. The $102M top line matters because it shows demand is there.
what just happened
Revenue hit $102M, but EPS was still -$0.02.
At a glance
n/a balance sheet
25/100 earnings predictability — expect surprises
586068431508480512.0x trailing p/e — you're paying up for this one
2.8% return on capital — nothing to write home about
$0.08 fy2024 eps est
xvary composite: 56/100 — below average
What they do
Cronos sells cannabis and hemp-branded products in the U.S. and overseas.
Cronos has 3 brands people can actually find: Spinach®, PEACE NATURALS®, and Lord Jones®. That matters because you do not get shelf space, repeat buyers, and distributor attention with one random label. Revenue was $147M, and gross margin was 45.6%, so the brands are making markup, not just noise.
How they make money
$147M
annual revenue · their business grew +24.6% last year
U.S. hemp-derived products
$58M
+22.0%
Canada branded cannabis
$49M
+18.0%
International medical cannabis
$30M
+26.0%
Other branded products
$10M
+40.0%
The products that matter
consumer cannabis sales
Cannabis Products
$124M · 80% of revenue
this is the core business. it generated $124M of the company's record $155M annual revenue, up 25% from the prior year.
main revenue driver
non-core revenue streams
Other Revenue
$31M · 20% of revenue
it contributes $31M and grew 23%. helpful, but not enough to change the fact that cannabis sales still drive four-fifths of the story.
supporting revenue
cultivation and production platform
Peace Naturals
36% gross margin
this snapshot does not break out standalone sales for Peace Naturals. what you can see is a 36% company-wide gross margin, which tells you production economics are decent but not yet enough to deliver durable profits.
operations backbone
Key numbers
$147M
annual sales
That is the size of the whole pie. Every brand fight is about a slice of this number.
45.6%
gross margin
Cronos keeps 45.6 cents of every sales dollar before overhead. That is decent, but not enough by itself.
11.9%
operating margin
After overhead, the company loses 11.9 cents per dollar sold. Sales are moving. Profit is not.
1.3
beta
A 1.3 beta means the stock tends to move more than the market. You own a bouncer, not a benchwarmer.
Financial health
n/a
strength
- balance sheet grade n/a
- risk rank 3 — safer than 50% of stocks
- price stability 15 / 100
- long-term debt $1M (0% of capital)
n/a — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for CRON right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $102M, but EPS was still -$0.02.
Sales rose 181% vs. prior year. Gross margin was 45.6%. The catch is simple: more sales did not yet turn into profit.
$102M
revenue
$0.02
eps
45.6%
gross margin
the number that mattered
The $102M top line matters because it shows demand is there. The -$0.02 EPS shows the business is still not profitable.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the #1 risk is burning the cash pile before the cannabis business can stand on its own.
med
cash is doing most of the valuation work
Cronos has a $950M market cap and $824M of cash. That means the operating business is being valued at roughly $126M while still losing $9.4M over the last 12 months.
if management spends that cash without building a profitable core, the main reason investors tolerate the stock disappears.
med
margin progress can stall fast in cannabis
A 36% gross margin is decent, not dominant. In a crowded category with pricing pressure, decent margins can still produce weak bottom-line results.
if gross margin stops improving, revenue growth alone may not be enough to turn record sales into actual earnings power.
med
the industry setup is still policy-sensitive
Part of the optimism around cannabis names comes from regulatory change and market expansion. This snapshot does not quantify a policy catalyst because the timing is not in the data.
if the legal backdrop stays messy or moves slower than investors expect, a cash-rich balance sheet can turn into dead money instead of upside optionality.
$824M in cash cushions the downside, but it also masks the core issue: a $155M revenue business with a $9.4M net loss still has to prove it deserves more than balance-sheet value.
source: institutional data · regulatory filings · risk analysis
Pay attention to
financials
cash balance versus operating losses
$824M in cash is the safety net. if that number starts falling while net losses continue, the whole valuation changes with it.
calendar
Q1 2026 earnings report
the next print is where you check whether the Q4 revenue jump was momentum or a good quarter wearing a cape.
trend
gross margin above 36%
margin is the bridge between growth and profitability. if 36% holds or improves, the business model gets more believable.
policy
U.S. cannabis rescheduling headlines
policy change could help sentiment fast. if it drags, you are left judging Cronos on execution alone.
Analyst rankings
earnings predictability
25 / 100
low predictability means the quarterly numbers can move around a lot. in human-speak, analysts do not trust this company to deliver a smooth script.
risk rank
3
safer than roughly 50% of stocks on this measure, largely because $824M of cash and just $1M of debt reduce balance-sheet stress.
source: institutional data
Institutional activity
institutional ownership data for CRON is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$3
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive