Cronos targets Canadelaar close in summer 2026 while renewing $50M buyback
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Cronos Group Inc. reported record Q1 2026 net revenue of $45.2 million, a 40% year-over-year increase, driven by strong international performance and market share gains in Canada. CEO Michael Gorenstein announced the expected completion of the CanAdelaar acquisition in summer 2026 and a renewed $50 million share repurchase program. The company maintains a strong balance sheet with $822 million in cash and no debt. Adjusted EBITDA for the quarter was $5.1 million, reflecting improved efficiency and sales volumes. Management emphasized ongoing execution and product momentum as key focus areas for 2026.
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