Cronos (CRON) financial statements
Cronos reported revenue of $147M in fiscal 2025, up 61.6% a year over 8 years.
Net income was -$9M and the operating margin -11.9%, against -194.5% in 2017.
Free cash flow was $149,000, and the company returned $10M in net buybacks.
The diluted share count rose 117% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Cronos's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3M | $12M | $24M | $47M | $65M | $87M | $87M | $118M | $147M |
| Cost of revenue | $2M | $6M | $12M | $46M | $70M | $71M | $75M | $92M | $83M |
| Gross profit | $2M | $6M | -$18M | -$26M | -$18M | $15M | $12M | $25M | $63M |
| Research and development | $0 | $2M | $12M | $20M | $22M | $13M | $6M | $4M | $4M |
| Selling, general and admin | $5M | $16M | $105M | $115M | $112M | $86M | $72M | $68M | $64M |
| Operating income | -$6M | -$20M | -$153M | -$219M | -$292M | -$111M | -$85M | -$77M | -$17M |
| Interest expense | $101,000 | $139,000 | $1M | $186,000 | $27,000 | $13,000 | — | — | — |
| Pre-tax income | -$2M | -$21M | $1.2B | -$73M | -$129M | -$121M | -$74M | $37M | -$17M |
| Income tax | -$862,000 | $0 | $0 | $1M | -$431,000 | $34M | -$3M | -$3M | -$14M |
| Net income | -$1M | -$22M | $1.2B | -$73M | -$396M | -$169M | -$74M | $41M | -$9M |
| EPS (diluted) | -$0.01 | -$0.12 | $3.33 | -$0.21 | -$1.07 | -$0.45 | -$0.19 | $0.11 | -$0.02 |
| Diluted shares | 177M | 172M | 343M | 352M | 370M | 377M | 381M | 386M | 383M |
| Gross margin | 50.0% | 51.3% | -74.1% | -55.3% | -27.3% | 17.8% | 13.7% | 21.4% | 42.8% |
| Operating margin | -194.5% | -168.7% | -645.5% | -469.6% | -452.2% | -128.4% | -97.2% | -65.1% | -11.9% |
| Net margin | -47.1% | -178.5% | 4911.6% | -156.5% | -613.5% | -194.5% | -84.8% | 34.9% | -6.4% |
Balance sheet
Fiscal years, from Cronos's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $7M | $24M | $1.5B | $1.3B | $1.0B | $878M | $862M | $859M | $832M |
| Receivables | — | $3M | $5M | $9M | $22M | $23M | $14M | $15M | $34M |
| Inventory | — | $7M | $38M | $44M | $33M | $38M | $30M | $33M | $47M |
| Total current assets | — | $40M | $1.6B | $1.4B | $1.1B | $960M | $933M | $936M | $944M |
| Property, plant and equipment | — | $126M | $160M | $188M | $74M | $61M | $59M | $133M | $146M |
| Goodwill | $1M | $1M | $214M | $180M | $1M | $1M | $1M | $63M | $66M |
| Total assets | — | $183M | $2.1B | $1.9B | $1.4B | $1.2B | $1.1B | $1.2B | $1.2B |
| Total current liabilities | — | $33M | $333M | $207M | $54M | $68M | $41M | $50M | $48M |
| Total liabilities | — | $35M | $341M | $218M | $63M | $72M | $44M | $55M | $54M |
| Shareholders' equity | $64M | $148M | $1.7B | $1.7B | $1.3B | $1.1B | $1.1B | $1.1B | $1.1B |
| Net debt | -$7M | -$24M | -$1.2B | -$1.1B | -$887M | -$765M | -$669M | -$859M | -$792M |
Cash flow
Fiscal years, from Cronos's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$4M | -$8M | -$131M | -$145M | -$154M | -$89M | -$43M | $19M | $26M |
| Capital spending | $33M | $88M | $39M | $31M | $11M | $3M | $3M | $12M | $26M |
| Free cash flow | -$37M | -$96M | -$170M | -$176M | -$165M | -$92M | -$45M | $6M | $149,000 |
| Stock-based compensation | $2M | $8M | $12M | $15M | $10M | $15M | $9M | $9M | $7M |
| Share buybacks (net) | — | — | — | — | — | — | $0 | $0 | -$10M |
| Free cash flow margin | -1182.2% | -790.6% | -715.2% | -377.3% | -255.2% | -106.5% | -52.0% | 5.5% | 0.1% |
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Open CRON in InvestinglyQuestions
What was Cronos's revenue in 2025?
$147M in fiscal 2025, from its 10-K filing.
How much free cash flow does Cronos generate?
$149,000 in fiscal 2025 (operating cash flow minus capital spending).
From Cronos's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.