Filing Flows › Cronos Group (CRON) › Q3 2025
Cronos Group (CRON) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Cronos Group (CRON) reported revenue of $48.8M for the third quarter 2025 (Q3 2025), +5% from a year earlier and +10% from the quarter before. Operating margin was -1.0%, net earnings $28.3M (58.0% of revenue).
Cronos Group, Q3 2025: revenue $48.8M (+5% year over year), operating margin -1.0%, net earnings $28.3M, operating cash flow $13.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $48.8M | +10% | +5% |
| Operating profit | −$503K | — | — |
| Net earnings | $28.3M | — | — |
| Operating cash flow | $13.3M | +372% | +15% |
| Free cash flow | $8.8M | — | +71% |
What changed
Revenue was $48.8M in Q3 2025, up 5% year over year and up 10% from the previous quarter. Cannabis flower was the largest line at 54% of revenue. Cannabis extracts added $2.2M year over year (up 28%), 97% of the total change. Other declined 91%.
Gross margin was 37.5%, up 29.8 points from a year earlier. Operating costs exceeded revenue by $503K, an operating margin of -1.0%. Operating expenses fell 49% while revenue rose 5%. Net earnings were $26.0M, up 211% year over year. The effective tax rate was -4.9%. Non-operating items added $27.5M, 102% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $13.3M (up 15% year over year), 47% of net income including minority interests. Non-cash charges added back $3.5M of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items used $20.9M. Capital expenditures of $4.5M left free cash flow of $8.8M.
Questions
What was Cronos Group's revenue in the third quarter 2025?
Cronos Group (CRON) reported revenue of $48.8M for the third quarter 2025 (Q3 2025), +5% from a year earlier and +10% from the quarter before.
Was Cronos Group profitable in the third quarter 2025?
Operating loss was $503K (-1.0% of revenue) and net earnings $28.3M.
Source: Cronos Group 10-Q on SEC EDGAR.