Full Year Results
Consolidated net revenue for the full year reached $46.72 million — up by 97% from the prior year. In 2020, Cronos had an adjusted EBITDA loss of $98.31 million, compared to an EBITDA loss of $48.95 million in 2019.
Fourth Quarter Results
For the last quarter of 2020, Cronos disclosed a net loss of $111.71 million, which compares to a net income of $61.57 million in the fourth quarter of the prior year.
Its adjusted EBITDA for the quarter was a loss of $53.13 million, versus a loss of $51.67 million in the same period of 2019.
The company had net revenue of $17.05 million in the quarter, compared to revenue of $7.31 million in the fourth quarter of 2019. Cronos noted that the higher revenue could be attributed mostly to the advancement of the recreational market in Canada, and the sales in Israel.