Cronos Group Inc.
CRON · Medicinal Chemicals & Botanical Products · 373.7M shares · +3%/yr ↑ dilution · EDGAR filings ↗
Grade
C52Cannabis company near breakeven with positive operating cash flow and a very cash-rich balance sheet.
Strengths
- Very cash-rich, positive OCF — current ratio 19.6 (100th), OCF margin 18%
Risks
- Near-breakeven/net loss — operating margin -12%, net margin -6%
- Cannabis-market oversupply/pricing — per 10-K
- Limited operating profitability — per 10-K
Notable findings
- Restatement• We have had multiple restatements and material weaknesses in our internal control over financial reporting in the past 8-K ↗
- Net lossNet loss (net margin -6.4%)
- Material weakness• We have had multiple restatements and material weaknesses in our internal control over financial reporting in the past
- Customer concentration~25% of revenue from one customer/distributor — Year ended December 31, 2025 2024 Net revenue before excise taxes $ 193,363 $ 161,821 Excise taxes (46,776) (44,206) Net revenue 146,587 117,615 Cost of sales 83,174 91,710 Inventory write
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $832M cash & investments
- Notable holderHeld by 3 notable fund(s): RENAISSANCE TECHNOLOGIES LLC, CITADEL ADVISORS LLC, GOLDMAN SACHS GROUP INC (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
42.8%
Operating margin
-11.9%
Net margin
-6.4%
Return on equity
-0.9%
Return on assets
-0.8%
Revenue growth (QoQ)
1.5%
Net-income growth
-123.0%
Current ratio
19.6×
Free cash flow
$149K
EBITDA
-$3M
Tangible book value
$1.0B
Cash & investments
$832M
Stock comp / revenue
4.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-12 | Buggy Shannon | Option exercise | 21K | — |
| 2026-05-12 | Buggy Shannon | Tax withheld | 9.2K | $2.75 |
| 2026-05-12 | Kenost Jared Matthew | Option exercise | 9.4K | — |
| 2026-05-12 | Kenost Jared Matthew | Tax withheld | 3.7K | $2.75 |
| 2026-05-12 | Wagner Adam | Option exercise | 10K | — |
| 2026-05-12 | Doucet Terrence Gregory Joseph | Option exercise | 11K | — |
| 2026-05-12 | Doucet Terrence Gregory Joseph | Tax withheld | 5.2K | $3.75 |
| 2026-05-10 | Weigensberg Arye | Option exercise | 3.1K | — |
| 2026-05-10 | Wagner Adam | Option exercise | 10K | — |
| 2026-05-10 | Wagner Adam | Option exercise | 10K | — |
| 2026-05-10 | Kenost Jared Matthew | Option exercise | 7.5K | — |
| 2026-05-10 | Kenost Jared Matthew | Tax withheld | 2.9K | $2.54 |
| 2026-05-10 | Kenost Jared Matthew | Option exercise | 5.1K | — |
| 2026-05-10 | Kenost Jared Matthew | Tax withheld | 1.9K | $2.54 |
| 2026-03-19 | Shlimak Anna | Tax withheld | 9.8K | $2.54 |
| 2026-03-19 | Shlimak Anna | Option exercise | 28K | — |
| 2026-03-15 | Buggy Shannon | Option exercise | 21K | — |
| 2026-03-15 | Weigensberg Arye | Option exercise | 24K | — |
| 2026-03-15 | Doucet Terrence Gregory Joseph | Option exercise | 24K | — |
| 2026-03-15 | Doucet Terrence Gregory Joseph | Tax withheld | 12K | $3.44 |
| 2026-03-15 | Buggy Shannon | Tax withheld | 9.2K | $2.50 |
| 2026-03-15 | Shlimak Anna | Option exercise | 45K | — |
| 2026-03-15 | Shlimak Anna | Tax withheld | 16K | $2.50 |
| 2026-03-15 | GORENSTEIN MICHAEL RYAN | Option exercise | 325K | — |
| 2026-03-15 | GORENSTEIN MICHAEL RYAN | Tax withheld | 128K | $2.50 |
| 2026-03-15 | JACOBSON JEFFREY DAVID | Option exercise | 59K | — |
| 2026-03-15 | JACOBSON JEFFREY DAVID | Tax withheld | 23K | $2.50 |
| 2026-03-12 | Wagner Adam | Option exercise | 16K | — |
| 2026-03-12 | Weigensberg Arye | Option exercise | 27K | — |
| 2026-03-12 | Doucet Terrence Gregory Joseph | Option exercise | 24K | — |
| 2026-03-12 | Doucet Terrence Gregory Joseph | Tax withheld | 12K | $3.48 |
| 2026-03-12 | Buggy Shannon | Option exercise | 22K | — |
| 2026-03-12 | Buggy Shannon | Tax withheld | 9.7K | $2.56 |
| 2026-03-12 | Shlimak Anna | Option exercise | 47K | — |
| 2026-03-12 | Shlimak Anna | Tax withheld | 17K | $2.56 |
| 2026-03-12 | GORENSTEIN MICHAEL RYAN | Option exercise | 340K | — |
| 2026-03-12 | GORENSTEIN MICHAEL RYAN | Tax withheld | 133K | $2.56 |
| 2026-03-12 | JACOBSON JEFFREY DAVID | Option exercise | 65K | — |
| 2026-03-12 | JACOBSON JEFFREY DAVID | Tax withheld | 25K | $2.56 |
| 2026-03-08 | JACOBSON JEFFREY DAVID | Tax withheld | 26K | $2.57 |
| 2026-03-08 | JACOBSON JEFFREY DAVID | Option exercise | 61K | — |
| 2026-03-08 | Weigensberg Arye | Option exercise | 21K | — |
| 2026-03-08 | Doucet Terrence Gregory Joseph | Option exercise | 24K | — |
| 2026-03-08 | Doucet Terrence Gregory Joseph | Tax withheld | 13K | $3.51 |
| 2026-03-08 | Buggy Shannon | Tax withheld | 11K | $2.57 |
| 2026-03-08 | Buggy Shannon | Option exercise | 25K | — |
| 2026-03-08 | Buggy Shannon | Option exercise | 21K | — |
| 2026-03-08 | Buggy Shannon | Tax withheld | 13K | $2.57 |
| 2026-03-08 | Shlimak Anna | Option exercise | 46K | — |
| 2026-03-08 | Shlimak Anna | Tax withheld | 19K | $2.57 |
| 2026-03-08 | GORENSTEIN MICHAEL RYAN | Option exercise | 328K | — |
| 2026-03-08 | GORENSTEIN MICHAEL RYAN | Tax withheld | 129K | $2.57 |
| 2025-12-13 | Weigensberg Arye | Option exercise | 6.4K | — |
| 2025-12-13 | GORENSTEIN MICHAEL RYAN | Option exercise | 167K | — |
| 2025-12-13 | GORENSTEIN MICHAEL RYAN | Tax withheld | 65K | $3.27 |
| 2025-05-12 | Doucet Terrence Gregory Joseph | Option exercise | 13K | — |
| 2025-05-12 | Doucet Terrence Gregory Joseph | Tax withheld | 6.3K | $3.86 |
| 2025-05-12 | Wagner Adam | Option exercise | 6.3K | — |
| 2025-05-12 | Weigensberg Arye | Option exercise | 9.0K | — |
| 2025-05-10 | Wagner Adam | Option exercise | 10K | — |
| 2025-05-10 | Wagner Adam | Option exercise | 10K | — |
| 2025-05-10 | Weigensberg Arye | Option exercise | 3.1K | — |
| 2025-03-21 | GORENSTEIN MICHAEL RYAN | Option exercise | 3.0M | — |
| 2025-03-21 | GORENSTEIN MICHAEL RYAN | Tax withheld | 1.2M | $1.82 |
| 2025-03-15 | JACOBSON JEFFREY DAVID | Tax withheld | 14K | $1.89 |
| 2025-03-15 | Holm James | Tax withheld | 27K | $1.89 |
| 2025-03-15 | GORENSTEIN MICHAEL RYAN | Option exercise | 31K | — |
| 2025-03-15 | GORENSTEIN MICHAEL RYAN | Tax withheld | 12K | $1.89 |
| 2025-03-15 | GORENSTEIN MICHAEL RYAN | Option exercise | 325K | — |
| 2025-03-15 | GORENSTEIN MICHAEL RYAN | Tax withheld | 100K | $1.89 |
| 2025-03-15 | Doucet Terrence Gregory Joseph | Option exercise | 24K | — |
| 2025-03-15 | Doucet Terrence Gregory Joseph | Tax withheld | 12K | $2.70 |
| 2025-03-15 | Buggy Shannon | Option exercise | 14K | — |
| 2025-03-15 | Buggy Shannon | Tax withheld | 5.9K | $1.89 |
| 2025-03-15 | Buggy Shannon | Option exercise | 21K | — |
| 2025-03-15 | Buggy Shannon | Tax withheld | 8.4K | $1.89 |
| 2025-03-15 | Holm James | Option exercise | 97K | — |
| 2025-03-15 | Weigensberg Arye | Option exercise | 24K | — |
| 2025-03-15 | Shlimak Anna | Option exercise | 30K | — |
| 2025-03-15 | Shlimak Anna | Tax withheld | 7.7K | $1.89 |
| 2025-03-15 | Shlimak Anna | Option exercise | 45K | — |
| 2025-03-15 | Shlimak Anna | Tax withheld | 11K | $1.89 |
| 2025-03-15 | JACOBSON JEFFREY DAVID | Option exercise | 32K | — |
| 2025-03-15 | JACOBSON JEFFREY DAVID | Tax withheld | 7.7K | $1.89 |
| 2025-03-15 | JACOBSON JEFFREY DAVID | Option exercise | 59K | — |
| 2025-03-08 | Shlimak Anna | Option exercise | 46K | — |
| 2025-03-08 | Shlimak Anna | Tax withheld | 14K | $1.99 |
| 2025-03-08 | McGinness James Andrew III | Option exercise | 13K | — |
| 2025-03-08 | McGinness James Andrew III | Tax withheld | 4.9K | $1.99 |
| 2025-03-08 | JACOBSON JEFFREY DAVID | Option exercise | 61K | — |
| 2025-03-08 | JACOBSON JEFFREY DAVID | Tax withheld | 18K | $1.99 |
| 2025-03-08 | Holm James | Option exercise | 98K | — |
| 2025-03-08 | Holm James | Tax withheld | 30K | $1.99 |
| 2025-03-08 | GORENSTEIN MICHAEL RYAN | Option exercise | 328K | — |
| 2025-03-08 | GORENSTEIN MICHAEL RYAN | Tax withheld | 80K | $1.99 |
| 2025-03-08 | Doucet Terrence Gregory Joseph | Option exercise | 3.9K | — |
| 2025-03-08 | Doucet Terrence Gregory Joseph | Tax withheld | 1.5K | $2.83 |
| 2025-03-08 | Doucet Terrence Gregory Joseph | Option exercise | 24K | — |
| 2025-03-08 | Doucet Terrence Gregory Joseph | Tax withheld | 13K | $2.83 |
| 2025-03-08 | Buggy Shannon | Option exercise | 21K | — |
| 2025-03-08 | Buggy Shannon | Tax withheld | 9.7K | $1.99 |
| 2025-03-08 | Buggy Shannon | Option exercise | 25K | — |
| 2025-03-08 | Buggy Shannon | Tax withheld | 12K | $1.99 |
| 2025-03-08 | Weigensberg Arye | Option exercise | 21K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-22 | Shareholder vote | filing ↗ |
| 2026-05-11 | Material agreementResultsOtherExhibits | filing ↗ |
| 2026-02-26 | ResultsExhibits | filing ↗ |
| 2025-12-09 | Material agreementReg FDExhibits | filing ↗ |
| 2025-11-06 | ResultsExhibits | filing ↗ |
| 2025-08-29 | Exec/director change | filing ↗ |
| 2025-08-07 | ResultsExec/director changeExhibits | filing ↗ |
| 2025-06-24 | Shareholder vote | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-22 | 2026-06-18 | 0001656472-26-000039 ↗ |
| 10-Q | 2026-05-11 | 2026-03-31 | 0001656472-26-000033 ↗ |
| 8-K | 2026-05-11 | 2026-05-08 | 0001656472-26-000032 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001656472-26-000016 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001656472-26-000015 ↗ |
| 8-K | 2025-12-09 | 2025-12-09 | 0001656472-25-000118 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001656472-25-000101 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001656472-25-000100 ↗ |
| 8-K | 2025-08-29 | 2025-08-29 | 0001656472-25-000083 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0001656472-25-000077 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001656472-25-000076 ↗ |
| 8-K | 2025-06-24 | 2025-06-20 | 0001656472-25-000067 ↗ |