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Cronos posts second-quarter net loss despite soaring revenue as costs mount

Reference: FCC

TORONTO - Cronos Group Inc. reported a net loss for the second quarter of 2019 despite nearly tripling its revenue from the same time last year.

The company's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter ended June 30 amounted to a loss of $17.8 million, or 22 cents per share, compared to $2.4 million, or zero cents per share, in the second quarter of 2018.

Net revenue soared to $10.24 million, compared to $3.39 million a year ago, before marijuana was legalized...Read More

Analysts expected revenue of $7.39 million and a loss of three cents per share, according to financial markets data firm Refinitiv.