The record Q2 results confirm strong operational momentum across all geographies, but the new Israeli anti-dumping investigation (initiated Aug 5) introduces material regulatory risk to the Israel segment, which grew 60% YoY. Monitor the investigation's progress and any provisional duty announcements; the CanAdelaar acquisition closing (expected H2 2026) is another catalyst to watch.
Price Chart
Executive Summary
Cronos Group reported Q2 2026 results with record net revenue of $53.0M (+58% YoY), record gross profit of $28.5M (+96% YoY), and record Adjusted EBITDA of $13.1M (+675% YoY). The company swung to a net income of $35.7M from a net loss of -$38.5M in Q2 2025, driven by strong growth across Canada, Israel, and international markets. However, a new Israeli anti-dumping investigation initiated on August 5, 2026, introduces regulatory overhang on the key Israel segment, partially offsetting the operational momentum.
Key Financial Metrics
Key Facts
- Net revenue of $53.0M in Q2 2026, up 58% YoY from $33.5M
- Gross profit of $28.5M, up 96% YoY; gross margin expanded 11pp to 54%
- Net income of $35.7M vs net loss of -$38.5M in Q2 2025
- Adjusted EBITDA of $13.1M, up 675% YoY from $1.7M
- Record net revenue in Canada, Israel (10th consecutive quarter), and international markets ex-Israel (+88% YoY)
- Repurchased 12.3M shares in H1 2026 for $32.9M
- Cash and cash equivalents, short-term investments, and non-current interest-bearing deposits of $827.0M
- New Israeli anti-dumping investigation initiated August 5, 2026, creating regulatory risk for Israel operations
Financial Impact
Revenue growth of $19.6M (+58% YoY) and net income swing of +$74.1M YoY; $827M in total liquidity
Risk Factors
- New Israeli anti-dumping investigation could restrict or increase costs of importing Canadian cannabis into Israel
- Pending CanAdelaar acquisition in the Netherlands may face regulatory delays or fail to close
- Foreign currency fluctuations (ILS, CAD) impact reported results; constant-currency revenue growth was 51% vs 58% reported
- Operating expenses increased 6% YoY, partially offsetting gross profit gains
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001656472-26-000050 |
| Document: cron-20260806.htm | 0001656472-26-000050 |
| Document: 0001656472-26-000050-index-headers.html | 0001656472-26-000050 |
| Document: 0001656472-26-000050-index.html | 0001656472-26-000050 |
| Document: 0001656472-26-000050.txt | 0001656472-26-000050 |
| 8-K Data (Synthetic) | 0001656472-26-000050 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | 8-K | $3.20 $3.21 | ▲ +0.31% | ▲ +1.42% | $3.31 (+3.44%) |
Oct 15, 2026 11d ago | Press Release | $3.20 $3.21 | ▲ +0.31% | ▲ +1.42% | $3.31 (+3.44%) |
Aug 6, 2026 11w ago | 8-K | $3.07 $3.10 | ▲ +0.98% | ▲ +0.37% | $3.31 (+7.82%) |
Aug 6, 2026 11w ago | Press Release | $3.07 $3.10 | ▲ +0.98% | ▲ +0.37% | $3.31 (+7.82%) |
Jul 16, 2026 14w ago | Press Release | $2.75 | awaiting T+1 | — | $3.31 (+20.36%) |
Jun 16, 2026 18w ago | Press Release | $2.67 $2.71 | ▲ +1.50% | ▲ +0.72% | $3.31 (+23.97%) |
May 11, 2026 24w ago | 8-K | $2.75 $2.77 | ▲ +0.73% | ▲ +0.86% | $3.31 (+20.36%) |
Apr 20, 2026 27w ago | Press Release | $2.76 | awaiting T+1 | — | $3.31 (+19.93%) |
Feb 26, 2026 34w ago | 8-K | $2.67 $2.67 | · 0.00% | ▲ +0.45% | $3.31 (+23.97%) |
US Market Status
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