Cronos Cannabis Co. Reports 38% YOY Increase In Q3 Revenue, Boosts International Sales
Cronos Cannabis Co. Reports 38% YOY Increase In Q3 Revenue, Boosts International Sales
Cronos announced an expansion of Cronos Growing Company Inc. in June. Cronos, which owns 50% of the company, said at the time that the investment would be funded by an additional credit facility provided by Cronos. The company is also intending to assist GrowCo's expansion of its purpose-built cannabis facility to address the increased global market demand for high-quality cannabis flower.Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) announced its 2024 third-quarter business results on Tuesday.
大麻股集團股份有限公司（納斯達克: CRON）（tsx: CRON）於週二宣佈了其2024年第三季度業務成果。
"Our results this quarter demonstrate that our long-term strategy is working," said Mike Gorenstein, chairman, president and CEO. "With record net revenue and a disciplined approach to operating expenses, Cronos operates more efficiently and effectively than ever before, and we anticipate long-term margin improvement."
董事長、總裁兼首席執行官邁克·戈倫斯坦表示：「本季度的業績表明我們的長期策略正在發揮作用。憑藉創紀錄的淨營業收入和對營業費用的謹慎管理，Cronos的運營效率和效果比以往任何時候都更高，我們預期長期的利潤率會有所改善。」
Q3 2024 Financial Highlights
2024年Q3財務亮點：
- Net revenue totaled $34.3 million, up by $9.5 million year-over-year, driven by higher cannabis flower and extract sales in Canada, Israel, and international markets, including Australia, Germany and the UK.
- Gross profit was $3.6 million, representing a slight decrease of $0.4 million, impacted by inventory-related adjustments from the Cronos GrowCo transaction.
- Net income totaled $7.3 million compared to a net loss of $1.6 million in the prior year's period.
- Adjusted gross profit was $10.7 million, representing an increase of $6.8 million, reflecting stronger cannabis sales and excluding one-time adjustments from the Cronos GrowCo consolidation.
- Adjusted EBITDA came in negative at $6 million, representing an improvement of $9.2 million compared to the same quarter of last year, driven by higher revenue, improved gross profit, and reduced administrative expenses.
- 淨營業收入達3430萬美元，同比增長950萬美元，受加拿大、以色列和包括澳大利亞、德國和英國在內的國際市場大麻花和提取物銷售增加的推動。
- 毛利潤爲360萬美元，略有下降40萬美元，受Cronos GrowCo交易的庫存相關調整影響。
- 淨利潤達730萬美元，而去年同期淨損失爲160萬美元。
- 調整後毛利潤爲1070萬美元，增長680萬美元，反映了更強勁的大麻銷售並排除了Cronos GrowCo併入造成的一次性調整。
- 調整後的EBITDA爲負600萬美元，較去年同期改善920萬美元，受更高的營業收入、改善的毛利潤和降低的行政費用推動。
Read Also: Cronos Cannabis Company Slashes Losses, Reports Highest Quarterly Net Revenue In Q1 2024
克朗諾斯大麻公司削減虧損，報告2024年第一季度淨營業收入創新高
Cronos GrowCo Transaction
Cronos GrowCo交易
Cronos announced an expansion of Cronos Growing Company Inc. in June. Cronos, which owns 50% of the company, said at the time that the investment would be funded by an additional credit facility provided by Cronos. The company is also intending to assist GrowCo's expansion of its purpose-built cannabis facility to address the increased global market demand for high-quality cannabis flower.
克朗諾斯公司宣佈於6月擴張克朗諾斯種植公司。克朗諾斯擁有該公司50%的股份，並表示當時的投資將由克朗諾斯提供的額外信貸額度資助。該公司還計劃協助GrowCo擴展旨在滿足全球高品質大麻花市場需求的定製大麻設施。
In relation to the transaction:
關於交易：
- Cronos expanded its board representation and began consolidating Cronos GrowCo's financial results from July 1, 2024.
- Cronos invested $51 million to fund Cronos GrowCo's cultivation and processing expansion.
- The new supply agreement gives Cronos the option to purchase up to 80% of Cronos GrowCo's production from the expanded facility, prior to the commencement of sales from the facility.
- 克朗諾斯擴大了其董事會代表，並從2024年7月1日開始開始整合克朗諾斯GrowCo的財務結果。
- 克朗諾斯投資了5100萬美元用於資助克朗諾斯GrowCo的種植和加工擴張。
- 新的供應協議使克朗諾斯有權在擴建設施銷售開始之前購買克朗諾斯GrowCo產量的高達80%。
Cost Savings And Growth Outlook
成本節省與增長展望
The company has set an operating expense savings target of $5 to $10 million for 2024, focusing on reductions in general and administrative, sales, marketing, and R&D costs.
該公司已設定2024年的營業費用節省目標爲5到1000萬美元，重點是降低一般及行政、銷售、營銷和研發成本。
Cronos said it remains focused on profitable and sustainable growth, despite the consolidation of Cronos GrowCo's results, which could impact future performance.
Cronos表示，儘管Cronos GrowCo的業績整合可能會影響未來業績，但仍專注於盈利和可持續增長。
CRON Price Action
CRON價格走勢
Cronos' shares traded 7.6142% higher at $2.12 per share during the pre-market session on Tuesday morning.
Cronos的股價在週二上午盤前交易中以每股2.12美元的價格上漲了7.6142%。
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譯文內容由第三人軟體翻譯。
