Cronos revenue celebrates. Net income sits it out

The charts in cannabis company Cronos’s report have developed different tastes: revenue goes up, net income goes down. Third-quarter revenue reached US$63.45 million, up 75% year on year, while net income fell 37% to US$17.83 million, according to the 5 November report. Sales grew in Canada, Israel and other countries, especially Germany; the company attributes the profit decline mainly to lower other income, higher operating expenses and a change in the tax result. Its acquisition of Dutch company CanAdelaar closed on 15 October, after the reporting quarter – too late to explain the July–September record.