Cronos Group (CRON.TO) traded 5.4% higher at last look Thursday in Nasdaq pre-market trading as the company's fourth-quarter earnings beat analyst forecasts.
The cannabinoid company posted an attributable net income of US$43.7 million, or US$0.11 per share, exceeding the consensus GAAP EPS estimate of a loss of US$0.01 compiled by FactSet.
Cronos' earnings are an improvement from a loss of US$44.8 million, or a loss of US$0.12 per share, reported in the previous year.
Net revenue increased 27% to US$30.3 million. The adjusted EBITDA loss narrowed to US$7.2 million from a loss of US$14.8 million. The company said it achieved US$8.7 million in operating expense savings in 2024 on a standalone basis, meeting its target of US$5 million to $10 million.
Cronos said its savings were primarily driven by lower expenses in general and administrative, research and development and sales and marketing.
"Our unwavering commitment to innovation, quality, and disciplined cost management has solidified our leadership in the global cannabis industry," said Mike Gorenstein, Cronos' chairman, president and CEO.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。