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Cronos Group Loses $79M in Q4

The cannabis company posted revenue of $22.9 million in the period.

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TORONTO (AP) β€” Cronos Group on Tuesday reported a loss of $78.9 million in its fourth quarter.

The Toronto-based company said it had a loss of 21 cents per share. Losses, adjusted for non-recurring costs and restructuring costs, came to 14 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The cannabis company posted revenue of $22.9 million in the period.

For the year, the company reported that its loss narrowed to $168.7 million, or 45 cents per share. Revenue was reported as $91.9 million.

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