Cronos Group reported record third-quarter results, with net revenue up 73% year over year on an organic, constant-currency basis. The cannabis company said it also set records for gross profit and adjusted EBITDA for a second consecutive quarter, while reducing its share count.
Growth came across its Canadian and international businesses. Cronos also said it closed its acquisition of CanAdelaar in October, after the quarter ended, giving it a position in the Netherlands’ adult-use cannabis market.
Key details
- Records across key measures: Cronos said third-quarter net revenue, gross profit and adjusted EBITDA each reached records for the second consecutive quarter. It did not provide the dollar amounts in the results material available here.
- Revenue growth: Net revenue rose 73% from a year earlier on an organic, constant-currency basis.
- Canada: The company reported record Canadian net revenue. Its Spinach brand held the No. 1 position in vapes for a third consecutive quarter and in edibles for a ninth consecutive quarter, based on the market data cited by Cronos. The company also said the brand gained share in pre-rolls and flower.
- Israel: Cronos Israel delivered its 11th consecutive quarter of record net revenue. The company said PEACE NATURALS remained the country’s leading cannabis brand.
- Germany and other international markets: Cronos reported record net revenue in Germany and said its international business outside Israel also reached a quarterly record, led by German demand.
- CanAdelaar acquisition: Cronos completed the acquisition in October. Integration, including the transfer of intellectual property, is underway. The company said the deal establishes a leadership position in Europe’s largest adult-use cannabis market.
- Cash flow and capital allocation: Cronos reported positive operating cash flow for the first nine months of 2026 and said it remains active in its share repurchase program. It described its balance sheet as industry-leading and said it intends to use its financial flexibility to fund growth, return capital to shareholders and pursue acquisitions.
Plain-English implications
The reported records span several markets, while the CanAdelaar deal expands Cronos’ European presence. The company says it is pursuing that growth alongside share repurchases, supported by positive operating cash flow over the first nine months of the year.