XML 19 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Net Loss and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Net revenue, before excise taxes $ 38,678 $ 25,798 $ 74,045 $ 52,352
Excise taxes (10,916) (6,777) (20,995) (13,836)
Net revenue 27,762 19,021 53,050 38,516
Cost of sales 21,070 15,922 41,875 32,490
Inventory write-down 395 0 395 0
Gross profit 6,297 3,099 10,780 6,026
Operating expenses        
Sales and marketing 4,330 5,297 9,662 11,038
Research and development 962 1,107 1,959 3,146
General and administrative 12,767 13,451 21,674 25,307
Restructuring costs 547 0 630 0
Share-based compensation 2,236 2,331 4,251 4,866
Depreciation and amortization 1,016 1,533 2,139 3,058
Impairment loss on long-lived assets 0 0 1,974 0
Total operating expenses 21,858 23,719 42,289 47,415
Operating loss (15,561) (20,620) (31,509) (41,389)
Other income        
Interest income, net 13,451 12,471 27,696 23,646
Share of income (loss) from equity method investments 917 270 2,365 (226)
Gain (loss) on revaluation of financial instruments (3,615) 5,193 (6,257) (2,565)
Impairment loss on other investments (12,916) 0 (25,650) 0
Foreign currency transaction gain (loss) 6,543 (3,174) 19,802 (4,817)
Other, net 248 17 (422) 37
Total other income 4,628 14,777 17,534 16,075
Loss before income taxes (10,933) (5,843) (13,975) (25,314)
Income tax benefit (2,174) (180) (2,732) (1,616)
Loss from continuing operations (8,759) (5,663) (11,243) (23,698)
Loss from discontinued operations 0 (2,834) 0 (4,056)
Net loss (8,759) (8,497) (11,243) (27,754)
Net loss attributable to non-controlling interest (2) (137) (245) (225)
Net loss attributable to Cronos Group (8,757) (8,360) (10,998) (27,529)
Comprehensive income (loss)        
Net loss (8,759) (8,497) (11,243) (27,754)
Other comprehensive income (loss)        
Foreign exchange gain (loss) on translation (10,160) 16,580 (32,521) 18,994
Comprehensive income (loss) (18,919) 8,083 (43,764) (8,760)
Comprehensive income (loss) attributable to non-controlling interests 58 (87) (75) (95)
Comprehensive income (loss) attributable to Cronos Group $ (18,977) $ 8,170 $ (43,689) $ (8,665)
Net loss per share        
Basic - continuing operations (in dollars per share) $ (0.02) $ (0.01) $ (0.03) $ (0.06)
Diluted - continuing operations (in dollars per share) (0.02) (0.01) (0.03) (0.06)
Basic - discontinued operations (in dollars per share) 0 (0.01) 0 (0.01)
Diluted - discontinued operations (in dollars per share) 0 (0.01) 0 (0.01)
Basic - total (in dollars per share) (0.02) (0.02) (0.03) (0.07)
Diluted - total (in dollars per share) $ (0.02) $ (0.02) $ (0.03) $ (0.07)