0001656472-26-000033 | 10-Q | XBRL Viewer

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Goodwill and Intangible Assets, net - Schedule of Goodwill (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Goodwill [Line Items]
Cost	$ 65,436	$ 66,478
Accumulated Impairment Charges	0	0
Net	65,436	66,478
Peace Naturals
Goodwill [Line Items]
Cost	1,006	1,022
Accumulated Impairment Charges	0	0
Net	1,006	1,022
Cronos GrowCo
Goodwill [Line Items]
Cost	64,430	65,456
Accumulated Impairment Charges	0	0
Net	$ 64,430	$ 65,456

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Investments

3 Months Ended

Mar. 31, 2026

Equity Method Investments and Joint Ventures [Abstract]

Investments

Other investments

Other investments consist of investments in common shares and warrants of companies in the cannabis industry.

Vitura

On February 12, 2025, Vitura Health Limited (“Vitura”) issued an additional 74,814,757 common shares diluting the Company’s ownership in Vitura from approximately 10% to approximately 8.3%. As of March 31, 2026, the Company’s ownership percentage in Vitura remained at approximately 8.3% of its outstanding common shares. The investment is considered an equity security with a readily determinable fair value. Changes in the fair value of the investment are recorded as gain (loss) on revaluation of financial instruments on the condensed consolidated statements of net income (loss) and comprehensive income (loss).

High Tide Warrant

On July 16, 2025, the Company, as lender, and High Tide Inc. (“High Tide”), as borrower, entered into a loan agreement for junior secured convertible debt with a principal amount of C$30,000 ($21,558) and an original issue discount of 16% (the “High Tide Loan”). Additionally, the Company received a common share purchase warrant (the “High Tide Warrant”) with a five-year term, which is exercisable into up to 3,836,317 common shares (the “Warrant Shares”) of High Tide at an exercise price of C$3.91 per Warrant Share.

The High Tide Warrant is classified as a derivative that is not being held as a hedge and was initially recorded at a fair value of C$6,989 ($5,106) to other investments on the condensed consolidated balance sheet on the transaction date. The High Tide Warrant’s fair value is estimated at each reporting date using a Black-Scholes model. Key inputs include the share price and volatility of High Tide common shares, the risk-free rate and the remaining term of the High Tide Warrant. Changes in the fair value of the High Tide Warrant are recorded as income (loss) on revaluation of financial instruments on the condensed consolidated statements of net income (loss) and comprehensive income (loss). See Note 4 “Loans Receivable, net” for discussion of the loan receivable recognized as part of the agreement with High Tide.

The following tables summarize the Company’s other investments activity:


	As of December 31, 2025		Unrealized loss		Foreign exchange effect		As of March 31, 2026
Vitura	$	2,253	$	(888)	$	82	$	1,447
High Tide Warrant	5,411		(1,596)		(63)		3,752
	$	7,664	$	(2,484)	$	19	$	5,199


	As of December 31, 2024		Unrealized loss		Foreign exchange effect		As of March 31, 2025
Vitura	$	2,813	$	(68)	$	10	$	2,755
	$	2,813	$	(68)	$	10	$	2,755

Inventory, net

3 Months Ended

Mar. 31, 2026

Inventory Disclosure [Abstract]

Inventory, net

Inventory, net is comprised of the following items:


	As of March 31, 2026		December 31, 2025
Raw materials	$	9,170	$	8,762
Work-in-progress	25,832		25,830
Finished goods	13,578		12,012
Supplies and consumables	96		146
Total	$	48,676	$	46,750

As a result of the transaction by which we obtained majority control of the board of directors of Cronos GrowCo (the “Cronos GrowCo Transaction”), the Company recorded a step-up to Cronos GrowCo’s existing inventory of $5,605 to bring the inventory balance acquired by the Company to its fair value. For the three months ended March 31, 2026 and 2025, the Company recognized nil and $517, respectively, of this inventory step-up into cost of sales on the condensed consolidated statements of net income (loss) and comprehensive income (loss). As of both March 31, 2026 and December 31, 2025, none of the inventory step-up was remaining in the Company’s inventory on the condensed consolidated balance sheets.

Segment Information - Schedule of Revenue from External Customers by Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 45,210	$ 32,262
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	25,351	20,130
Israel
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	14,151	9,229
Other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	5,708	2,903
Cannabis flower
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	33,734	23,344
Cannabis extracts
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	11,457	8,608
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 19	$ 310

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Goodwill and Intangible Assets, net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Finite-Lived Intangible Assets [Line Items]
Cost	$ 21,885	$ 22,046
Accumulated amortization	(7,733)	(7,408)
Accumulated impairment charges	(6,403)	(6,548)
Net	7,749	8,090
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Cost	86,027	86,188
Accumulated amortization	(7,733)	(7,408)
Accumulated impairment charges	(69,745)	(69,890)
Total intangible assets	8,549	8,890
Lord Jones brand
Indefinite-lived Intangible Assets [Line Items]
Cost	64,000	64,000
Accumulated impairment charges	(63,200)	(63,200)
Net	800	800
Trademarks
Indefinite-lived Intangible Assets [Line Items]
Cost	142	142
Accumulated impairment charges	(142)	(142)
Net	0	0
Software
Finite-Lived Intangible Assets [Line Items]
Cost	5,599	5,511
Accumulated amortization	(4,516)	(4,391)
Accumulated impairment charges	(74)	(76)
Net	1,009	1,044
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	(4,516)	(4,391)
Health Canada licenses
Finite-Lived Intangible Assets [Line Items]
Cost	8,054	8,182
Accumulated amortization	(1,725)	(1,710)
Accumulated impairment charges	(6,329)	(6,472)
Net	0	0
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	(1,725)	(1,710)
Israeli codes
Finite-Lived Intangible Assets [Line Items]
Cost	327	323
Accumulated amortization	(108)	(103)
Net	219	220
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	(108)	(103)
Know-how
Finite-Lived Intangible Assets [Line Items]
Cost	7,905	8,030
Accumulated amortization	(1,384)	(1,204)
Net	6,521	6,826
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	$ (1,384)	$ (1,204)

Share-based Compensation

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Share-based Compensation

(a)Share-based award plans

The Company has granted stock options, restricted share units (“RSUs”) and deferred share units (“DSUs”) to employees and non-employee directors under the 2020 Omnibus Equity Incentive Plan dated March 29, 2020 (the “2020 Omnibus Plan”) and the DSU Plan dated August 10, 2019 (the “DSU Plan”).

The following table summarizes the total share-based compensation expense associated with the Company’s stock options, RSUs and DSUs for the three months ended March 31, 2026 and 2025:


	Three months ended March 31,
	2026		2025
Stock options	$	18	$	74
RSUs	1,338		2,014
DSUs	(43)		—
Total share-based compensation	$	1,313	$	2,088

Share-based compensation for the three months ended March 31, 2026 included a gain of $43 associated with the Company’s DSUs. For the three months ended March 31, 2025, a gain of $117 was included in revaluation of financial instruments in the Company’s condensed consolidated statements of net income (loss) and comprehensive income (loss), related to the revaluation of DSUs.

(b)Stock options

Vesting conditions for grants of options are determined by the Compensation Committee of the Board. The typical vesting for stock option grants made under the 2020 Omnibus Plan is annual vesting over three to five years with a maximum term of ten years. The 2020 Omnibus Plan does not authorize grants of options with an exercise price below fair market value.

The following is a summary of the changes in stock options for the three months ended March 31, 2026 and 2025:


	Weighted-average exercise price (C$) (i)		Number of options	Weighted-average remaining contractual term (years)
Balance as of December 31, 2025	$	5.68	588,317	2.48



Balance as of March 31, 2026	$	5.68	588,317	2.24
Exercisable as of March 31, 2026	$	5.92	541,237	2.09


	Weighted-average exercise price (C$) (i)		Number of options	Weighted-average remaining contractual term (years)
Balance as of December 31, 2024	$	5.63	717,264	3.65



Balance as of March 31, 2025	$	5.63	717,264	3.40
Exercisable as of March 31, 2025	$	6.20	573,253	3.04

(i)The weighted-average exercise price reflects the conversion of foreign currency-denominated stock options translated into C$ using the average foreign exchange rate as of the date of issuance.

The following table summarizes stock options outstanding:


	As of March 31, 2026	As of December 31, 2025
2020 Omnibus Plan	588,317	588,317


Total stock options outstanding	588,317	588,317

Restricted share units

The following is a summary of the changes in RSUs for the three months ended March 31, 2026 and 2025:


	Weighted-average grant date fair value (C$)(ii)		Number of RSUs
Balance as of December 31, 2025	$	2.85	5,385,106
Granted(i)	3.49		1,507,369
Vested and issued	2.66		(1,635,895)

Balance as of March 31, 2026	$	3.05	5,256,580


	Weighted-average grant date fair value (C$)(ii)		Number of RSUs
Balance as of December 31, 2024	$	3.50	8,382,213
Granted(i)	2.73		1,775,668
Vested and issued	4.00		(4,459,280)
Cancellation and forfeitures	3.47		(134,999)
Balance as of March 31, 2025	$	2.86	5,563,602

(i)RSUs granted in the period vest annually in equal installments over a three-year period from the grant date. All RSUs are subject to such holder’s continued employment through each vesting date. The vesting of such RSUs is not subject to the achievement of any performance criteria.

(ii)The weighted-average grant date fair value reflects the conversion of foreign currency-denominated RSUs translated into C$ using the foreign exchange rate as of the date of issuance.

(d)Deferred share units

The following is a summary of the changes in DSUs for the three months ended March 31, 2026 and 2025:


	Financial liability		Number of DSUs
Balance as of December 31, 2025	$	1,993	758,499


Gain on revaluation	(43)		—
Foreign exchange effect	(31)		—
Balance as of March 31, 2026	$	1,919	758,499


	Financial liability		Number of DSUs
Balance as of December 31, 2024	$	1,129	560,261


Gain on revaluation	(117)		—
Foreign exchange effect	(3)		—
Balance as of March 31, 2025	$	1,009	560,261

Inventory, net (Tables)

3 Months Ended

Mar. 31, 2026

Inventory Disclosure [Abstract]

Schedule of Inventory, net

Inventory, net is comprised of the following items:


	As of March 31, 2026		December 31, 2025
Raw materials	$	9,170	$	8,762
Work-in-progress	25,832		25,830
Finished goods	13,578		12,012
Supplies and consumables	96		146
Total	$	48,676	$	46,750

Restructuring (Tables)

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

Schedule of Plan Information and Restructuring-Related Costs

The following tables summarize the Company’s restructuring activity for the three months ended March 31, 2026 and three months ended March 31, 2025:


	Accrual as of December 31, 2025		Expenses		Payments/Write-offs		Accrual as of March 31, 2026
Employee Termination Benefits	$	104	$	—	$	(104)	$	—
Other Restructuring Costs	211		484		(459)		236
Total	$	315	$	484	$	(563)	$	236


	Accrual as of December 31, 2024		Expenses		Payments/Write-offs		Accrual as of March 31, 2025
Employee Termination Benefits	$	—	$	257	$	—	$	257
Other Restructuring Costs	—		298		(115)		183
Total	$	—	$	555	$	(115)	$	440

Loans Receivable, net - Narrative (Details) $ / shares in Units, ₪ in Thousands, $ in Thousands		3 Months Ended
	Jul. 16, 2025 USD ($) shares	Mar. 31, 2026 USD ($)	Mar. 31, 2026 CAD ($)	Mar. 31, 2025 USD ($)	Mar. 31, 2025 CAD ($)	Mar. 31, 2026 ILS (₪)	Dec. 31, 2025 USD ($)	Dec. 31, 2025 ILS (₪)	Jul. 16, 2025 CAD ($) $ / shares shares	Dec. 31, 2024 USD ($)	Sep. 30, 2022	Jun. 28, 2019 USD ($)	Jun. 28, 2019 CAD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Interest paid		$ 0		$ 0
High Tide Inc
Financing Receivable, Allowance for Credit Loss [Line Items]
Class of warrant or right, number of securities called by warrants or rights (in shares) \| shares	3,836,317								3,836,317
Exercise price (in dollars per share) \| $ / shares									$ 3.91
Loans receivable, fair value disclosure	$ 13,359								$ 18,591,000
Interest paid		$ 212
Junior Secured Convertible Debt \| High Tide Inc
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt instrument, convertible, conversion price (in dollars per share) \| $ / shares									$ 4.20
Junior Secured Convertible Debt \| Convertible Debt \| High Tide Inc
Financing Receivable, Allowance for Credit Loss [Line Items]
Interest rate	4.00%								4.00%
Debt instrument, term	5 years
Variable Interest Entity, Not Primary Beneficiary \| Cannasoul Lab Services Ltd. \| Establishment of a Commercial Cannabis Analytical Testing Laboratory
Financing Receivable, Allowance for Credit Loss [Line Items]
Collaborative arrangement, percentage of profits to be received		70.00%				70.00%
Collaborative arrangement, profits to be received, maximum percentage of amounts advanced		150.00%				150.00%
Collaborative arrangement, percentage of profits to be received, triggering event, subsequent to maximum percentage of amounts advanced being met		50.00%				50.00%
Loans Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit loss		$ 5,655		622			$ 5,614			$ 623
Loans Receivable \| High Tide Inc
Financing Receivable, Allowance for Credit Loss [Line Items]
Debt instrument, discount fair value		7,373
Mucci Promissory Note \| Loans Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Face amount												$ 11,749	$ 16,350,000
Stated interest rate												3.95%	3.95%
Basis spread on interest rate											1.25%
Proceeds from interest on loan receivables			$ 0		$ 0
Proceeds from repayment on loan outstanding principal			$ 0		$ 0
Allowance for credit loss		59		93			59			88
Cannasoul Collaboration Loan \| Loans Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit loss		645		$ 529			631			$ 535
Cannasoul Collaboration Loan \| Loans Receivable \| Variable Interest Entity, Not Primary Beneficiary \| Cannasoul Lab Services Ltd. \| Establishment of a Commercial Cannabis Analytical Testing Laboratory
Financing Receivable, Allowance for Credit Loss [Line Items]
Collaboration agreement, amount of advances		$ 2,639				₪ 8,297
Collaborative arrangement, term of agreement		2 years	2 years
Interest rate		3.50%				3.50%
Cannasoul Collaboration Loan \| Loans Receivable \| Variable Interest Entity, Not Primary Beneficiary \| Cannasoul \| Establishment of a Commercial Cannabis Analytical Testing Laboratory
Financing Receivable, Allowance for Credit Loss [Line Items]
Collaborative arrangement, installment received		$ 2,639				₪ 8,297	$ 2,604	₪ 8,297

Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Related Party Transactions


	Three months ended March 31,
	2026		2025
Related party – purchases of products and services	$	557	$	189

Investments - Narrative (Details) $ / shares in Units, $ in Thousands, $ in Thousands	Jul. 16, 2025 USD ($) shares	Mar. 31, 2026 USD ($)	Mar. 31, 2026 CAD ($)	Dec. 31, 2025 USD ($)	Jul. 16, 2025 CAD ($) $ / shares shares	Mar. 31, 2025 USD ($)	Feb. 12, 2025 shares	Feb. 11, 2025	Dec. 31, 2024 USD ($)
Schedule of Investments [Line Items]
Other investments \| $		$ 5,199		$ 7,664		$ 2,755			$ 2,813
High Tide Inc
Schedule of Investments [Line Items]
Class of warrant or right, number of securities called by warrants or rights (in shares) \| shares	3,836,317				3,836,317
Exercise price (in dollars per share) \| $ / shares					$ 3.91
Other investments		$ 5,106	$ 6,989
Junior Secured Convertible Debt \| Convertible Debt \| High Tide Inc
Schedule of Investments [Line Items]
Debt instrument, face amount	$ 21,558				$ 30,000
Debt instrument, issue discount, percentage	16.00%				16.00%
Debt instrument, term	5 years
Vitura
Schedule of Investments [Line Items]
Shares, issued (in shares) \| shares							74,814,757
Ownership percentage		8.30%	8.30%				8.30%	10.00%
Other investments \| $		$ 1,447		$ 2,253		$ 2,755			$ 2,813

Background, Basis of Presentation, and Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
Net revenue	$ 45,210	$ 32,262
Canada
Segment Reporting Information [Line Items]
Net revenue	25,351	20,130
Israel
Segment Reporting Information [Line Items]
Net revenue	14,151	9,229
Other countries
Segment Reporting Information [Line Items]
Net revenue	5,708	2,903
Cannabis flower
Segment Reporting Information [Line Items]
Net revenue	33,734	23,344
Cannabis extracts
Segment Reporting Information [Line Items]
Net revenue	11,457	8,608
Other
Segment Reporting Information [Line Items]
Net revenue	$ 19	$ 310

- Definition

+ References

+ Details

Background, Basis of Presentation, and Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2026 USD ($) segment	Mar. 31, 2025 USD ($)	Dec. 31, 2025 USD ($)
Concentration Risk [Line Items]
Number of operating segments \| segment	1
Number of reportable segments \| segment	1
Short-term investments	$ 0		$ 40,000
Maximum exposure to credit risk	895,029		909,839
Current expected credit loss allowance on accounts receivable	12		$ 9
Net revenue, before excise taxes	58,965	$ 41,898
Two Major Customers
Concentration Risk [Line Items]
Net revenue, before excise taxes	$ 24,597	$ 17,751
Accounts Receivable \| One Customer \| Credit Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	21.00%		16.00%
Revenue Benchmark \| Two Major Customers \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	42.00%	42.00%

Loans Receivable, net

3 Months Ended

Mar. 31, 2026

Receivables [Abstract]

Loans Receivable, net

Loans receivable, net consists of the following:


	As of March 31, 2026		As of December 31, 2025
Current portion of Mucci Promissory Note accrued interest	$	128	$	—
Total current portion of loans receivable, net	128		—
High Tide Loan	9,235		9,185
Mucci Promissory Note	9,081		9,226
Cannasoul Collaboration Loan	1,993		1,972
Add: Long-term portion of accrued interest	494		464
Total long-term portion of loans receivable, net	20,803		20,847
Total loans receivable, net	$	20,931	$	20,847

Mucci Promissory Note

On June 28, 2019, the Company entered into a promissory note receivable agreement (the “Mucci Promissory Note”) for C$16,350 (approximately $11,749) with the Cronos GrowCo joint venture partner (“Mucci”). The Mucci Promissory Note is secured by a general security agreement covering all the assets of Mucci. Prior to July 1, 2022, interest accrued on the Mucci Promissory Note was capitalized as part of the principal balance. On September 30, 2022, the Mucci Promissory Note was amended and restated to increase the interest rate from 3.95% to the Canadian Prime Rate plus 1.25%, change the interest payments from quarterly to annual, and defer Mucci’s initial cash interest payment from September 30, 2022 to July 1, 2023. On June 20, 2024, the Mucci Promissory Note was amended and restated. As a result, interest accrued on the Mucci Promissory Note between July 1, 2023 and July 1, 2024 was capitalized as part of the principal balance. As of July 1, 2024, interest accruing on the Mucci Promissory Note is required to be paid in cash beginning on July 1, 2025. For both the three months ended March 31, 2026 and 2025, there were no repayments of principal or interest on the Mucci Promissory Note.

Cannasoul Collaboration Loan

The Company holds a variable interest in Cannasoul Lab Services Ltd. (“CLS”). CLS is a wholly owned subsidiary of Cannasoul Analytics Ltd., which has established a commercial cannabis analytical testing laboratory (the “Cannasoul Laboratory”) located on the premises of Cronos Israel (the “Cannasoul Collaboration”). Cronos Israel agreed to advance up to ILS 8,297 ($2,639) by a non-recourse loan (the “Cannasoul Collaboration Loan”) to CLS over a period of two years from April 1, 2020 for the capital and operating expenditures of the Cannasoul Laboratory. The Cannasoul Collaboration Loan bears interest at 3.5% annually. Cronos Israel will receive 70% of the profits of the Cannasoul Laboratory until such time as it has recovered 150% of the amounts advanced to CLS, after which time it will receive 50% of the Cannasoul Laboratory profits. As a result, the Company is exposed to economic variability from CLS’s performance. The Company does not consolidate CLS as it does not have the power to direct the activities that most significantly impact the entity’s economic performance; thus, the Company is not considered the primary beneficiary of the entity. The carrying amount of the Cannasoul Collaboration Loan is recorded under loans receivable and the full amount of the Cannasoul Collaboration Loan, ILS 8,297, represents the Company’s maximum potential exposure to losses through the Cannasoul Collaboration.

As of both March 31, 2026 and December 31, 2025, CLS has received ILS 8,297 (approximately $2,639 and $2,604, respectively), from the Cannasoul Collaboration Loan.

High Tide Loan

On July 16, 2025, the Company, as lender, and High Tide, as borrower, entered into the High Tide Loan. The High Tide Loan bears interest at 4% per annum, payable in cash quarterly, and provides for conversion of the debt into common shares of High Tide at a price of C$4.20 per common share. The High Tide Loan is convertible only upon the agreement of the Company and High Tide. The High Tide Loan has a term of five years and may be repaid early with no penalty. Additionally, the Company received the High Tide Warrant, which is exercisable into up to 3,836,317 common shares of High Tide at an exercise price of C$3.91 per Warrant Share. See Note 3 “Investments” for discussion of the High Tide Warrant.

The loan receivable was recorded at a fair value as of the transaction date of C$18,591 ($13,359) and will be amortized using the effective interest method over the estimated life of the loan. For the three months ended March 31, 2026, High Tide paid $212 in interest. As of March 31, 2026, the High Tide loan receivable included an unamortized discount of $7,373 and an expected credit loss of $4,951 as presented in the tables below.

Credit Quality Indicators

The Company is exposed to credit risk on loan receivables. Credit risk is the risk of loss arising from the failure of borrowers to meet the terms of the contract or otherwise fail to perform as agreed. Because each borrower has distinct risk characteristics, the Company evaluates each loan individually rather than as part of a broader portfolio. The Company routinely reviews its borrowers and assesses their financial health to estimate current expected credit losses. This assessment involves examining historical loss data—including benchmarking risk grades using Moody’s reports across different economic cycles—analyzing asset-specific risks, particularly those unique to the cannabis industry, and evaluating the current financial status and forecasted financial results of each borrower. Furthermore, the Company assigns credit risk ratings through an ordinal logit regression model, which compares borrowers’ credit quality to other rated companies by analyzing key financial metrics such as total assets, debt, revenue, earnings before interest and taxes, and net income.

Expected credit loss allowances on the Company’s long-term financial assets for the three months ended March 31, 2026 and 2025 were comprised of the following items:


	As of December 31, 2025		Increase(i)		Foreign exchange effect		As of March 31, 2026
Mucci Promissory Note	$	59	$	1	$	(1)	$	59
Cannasoul Collaboration Loan	631		5		9		645
High Tide Loan	4,924		106		(79)		4,951
	$	5,614	$	112	$	(71)	$	5,655


	As of December 31, 2024		Increase(ii)		Foreign exchange effect		As of March 31, 2025
Mucci Promissory Note	88		5		—		93
Cannasoul Collaboration Loan	535		4		(10)		529
	$	623	$	9	$	(10)	$	622

(i)During the three months ended March 31, 2026, $6 was recorded as an increase to general and administrative expenses on the condensed consolidated statements of net income (loss) and comprehensive income (loss) as a result of adjustments to our expected credit losses. During the three months ended March 31, 2026, $106 was recorded as a change in allowance for credit loss on non-operating loan on the condensed consolidated statements of net income (loss) and comprehensive income (loss) as a result of adjustments to our allowance for expected credit loss on the High Tide Loan.

(ii)During the three months ended March 31, 2025, $9 was recorded as an increase to general and administrative expenses on the condensed consolidated statements of net income (loss) and comprehensive income (loss) as a result of adjustments to our expected credit losses.

Segment Information (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Segment Data and Adjusted EBITDA

The table below sets forth consolidated Adjusted EBITDA and significant expenses for our single segment:


	Three months ended March 31,
	2026		2025
Adjusted EBITDA	$	5,079	$	2,289

Significant expenses:
Sales and marketing	5,615		4,565
Research and development	1,413		793
General and administrative, excluding transaction costs	10,777		9,269
Share-based compensation	1,313		2,088
Depreciation and amortization	425		496
Total significant expenses	19,543		17,211
Restructuring costs	484		555
Transaction costs	959		40

Total operating expense	$	20,986	$	17,806

The following tables set forth a reconciliation of net income as determined in accordance with U.S. GAAP to Adjusted EBITDA for the periods indicated:


	Three months ended March 31, 2026
Net income	$	15,711
Interest income, net	(8,853)
Income tax provision	2,428
Depreciation and amortization	3,727
EBITDA	13,013

Loss on revaluation of financial instruments(i)	2,484
Foreign currency transaction gain	(13,699)
Transaction costs(ii)	959

Other, net(iii)	(10)
Restructuring costs(iv)	484
Share-based compensation(v)	1,313
Restatement litigation costs(vi)	411

Israel Ministry of Economy and Industry dumping inquiry expense(vii)	18
Change in allowance for credit loss on non-operating loan(viii)	106
Adjusted EBITDA	$	5,079


	Three months ended March 31, 2025
Net income	$	7,723
Interest income, net	(9,665)
Income tax benefit	(455)
Depreciation and amortization	2,840
EBITDA	443




Gain on revaluation of financial instruments(i)	(49)

Foreign currency transaction gain	(1,583)
Transaction costs(ii)	40

Other, net(iii)	(43)
Restructuring costs(iv)	555
Share-based compensation(v)	2,088
Restatement litigation costs(vi)	47
Inventory step-up recorded to cost of sales(ix)	517
Israel Ministry of Economy and Industry dumping inquiry expense(vii)	274

Adjusted EBITDA	$	2,289

(i)For the three months ended March 31, 2026, the loss on revaluation of financial instruments was driven by a loss related to the Company’s High Tide Warrant and the Company’s equity securities in Vitura. For the three months ended March 31, 2025, the gain on revaluation of financial instruments related primarily to the revaluation of the Company’s DSU liability, partially offset by a loss on the Company’s equity securities in Vitura.

(ii)For the three months ended March 31, 2026, transaction costs represented fees related to the pending acquisition of CanAdelaar B.V. For the three months ended March 31, 2025, transaction costs represented legal, financial and other advisory fees and expenses incurred in connection with the Cronos GrowCo Transaction. These costs are included in general and administrative expenses on the condensed consolidated statements of net income (loss) and comprehensive income (loss).

(iii)For the three months ended March 31, 2026, other, net related to rental income. For the three months ended March 31, 2025, other, net related to (gain) loss on disposal of assets and (gain) loss on revaluation of derivative liabilities.

(iv)For the three months ended March 31, 2026 and 2025, restructuring costs related to employee-related severance costs and IT infrastructure and finance transformation costs associated with the Realignment, as described in Note 7 “Restructuring.”

(v)For the three months ended March 31, 2026, share-based compensation related to the expenses of share-based compensation awarded to employees and DSUs issued to our Board of Directors, each under the Company’s share-based award plans, as described in Note 8 “Share-based Compensation.” For the three months ended March 31, 2025, share-based compensation related to the expenses of share-based compensation awarded to employees under the Company’s share-based award plans, as described in Note 8 “Share-based Compensation.”

(vi)For the three months ended March 31, 2026 and 2025, restatement litigation costs included legal costs incurred defending shareholder class action complaints brought against the Company as a result of the 2019 restatement.

(vii)For the three months ended March 31, 2026 and 2025, Israel Ministry of Economy and Industry dumping inquiry expense included expenditures relating to the regulatory inquiry about alleged dumping of medical cannabis products in Israel and related litigation and external relations expenses.

(viii)For the three months ended March 31, 2026, change in allowance for credit loss on non-operating loan represents the allowance recognized on the High Tide loan receivable, as described in Note 4, “Loans Receivable, net.”

(ix)For the three months ended March 31, 2025, inventory step-up recorded to cost of sales represents the portion of the inventory step-up from the Cronos GrowCo Transaction that was recorded through the condensed consolidated statements of net income (loss) and comprehensive income (loss).

Schedule of Revenue from External Customers by Geographic Areas

Net revenues attributed to a geographic region based on the location of the customer were as follows:


	Three months ended March 31,
	2026		2025
Canada	$	25,351	$	20,130
Israel	14,151		9,229
Other countries	5,708		2,903
Net revenue	$	45,210	$	32,262

The following tables present the Company’s revenue by major product category for our single segment:


	Three months ended March 31,
	2026		2025
Cannabis flower	$	33,734	$	23,344
Cannabis extracts	11,457		8,608
Other	19		310
Net revenue	$	45,210	$	32,262

Net revenue attributed to a geographic region based on the location of the customer was as follows:


	Three months ended March 31,
	2026		2025
Canada	$	25,351	$	20,130
Israel	14,151		9,229
Other countries	5,708		2,903
Net revenue	$	45,210	$	32,262

Schedule of Long-Lived Assets by Geographic Areas

The table below sets forth total cash and cash equivalents and short-term investments for our single segment:


	As of March 31, 2026		As of December 31, 2025
Total cash and cash equivalents and short-term investments	$	821,856	$	831,794

Property, plant and equipment, net were physically located in the following geographic regions:


	As of March 31, 2026		As of December 31, 2025
Canada	$	125,776	$	129,352

Israel	16,326		16,513
Total	$	142,102	$	145,865

Intangibles, net were physically located in the following geographic regions:


	As of March 31, 2026		As of December 31, 2025
Canada	$	8,219	$	8,551

Israel	330		339
Total	$	8,549	$	8,890

Investments - Revaluation of Other Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Other Investments [Roll Forward]
Other investments, beginning balance	$ 7,664	$ 2,813
Unrealized loss	(2,484)	(68)
Foreign exchange effect	19	10
Other investments, ending balance	5,199	2,755
Vitura
Other Investments [Roll Forward]
Other investments, beginning balance	2,253	2,813
Unrealized loss	(888)	(68)
Foreign exchange effect	82	10
Other investments, ending balance	1,447	$ 2,755
High Tide Warrant
Other Investments [Roll Forward]
Other investments, beginning balance	5,411
Unrealized loss	(1,596)
Foreign exchange effect	(63)
Other investments, ending balance	$ 3,752

Property, Plant and Equipment, net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Property, Plant and Equipment [Abstract]
Depreciation expense included in operating expenses	$ 3,097	$ 2,144
Unpaid purchases of property, plant and equipment	$ 465		$ 760

Goodwill and Intangible Assets, net (Tables)

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Goodwill is comprised of the following items as of March 31, 2026 and December 31, 2025:


	As of March 31, 2026
	Cost		Accumulated Impairment Charges		Net
Peace Naturals	$	1,006	$	—	$	1,006
Cronos GrowCo	64,430		—		64,430
	$	65,436	$	—	$	65,436


	As of December 31, 2025
	Cost		Accumulated Impairment Charges		Net
Peace Naturals	$	1,022	$	—	$	1,022
Cronos GrowCo	65,456		—		65,456
	$	66,478	$	—	$	66,478

Schedule of Definite-Lived Intangible Assets

Intangible assets, net are comprised of the following items as of March 31, 2026 and December 31, 2025:


	As of March 31, 2026
	Cost		Accumulated amortization		Accumulated impairment charges		Net
Software	$	5,599	$	(4,516)	$	(74)	$	1,009
Health Canada licenses	8,054		(1,725)		(6,329)		—

Israeli codes(i)	327		(108)		—		219
Know-how(ii)	7,905		(1,384)		—		6,521
Total definite-lived intangible assets	21,885		(7,733)		(6,403)		7,749
Lord Jones® brand	64,000		—		(63,200)		800
Trademarks	142		—		(142)		—
Total intangible assets	$	86,027	$	(7,733)	$	(69,745)	$	8,549


	As of December 31, 2025
	Cost		Accumulated amortization		Accumulated impairment charges		Net
Software	$	5,511	$	(4,391)	$	(76)	$	1,044
Health Canada licenses	8,182		(1,710)		(6,472)		—
Israeli codes(i)	323		(103)		—		220
Know-how(ii)	8,030		(1,204)		—		6,826
Total definite-lived intangible assets	22,046		(7,408)		(6,548)		8,090
Lord Jones® brand	64,000		—		(63,200)		800
Trademarks	142		—		(142)		—
Total intangible assets	$	86,188	$	(7,408)	$	(69,890)	$	8,890

(i)The Israeli codes were transferred by non-controlling interests to Cronos Israel in exchange for their equity interests in the Cronos Israel entities.

(ii)Know-how was acquired as part of the Cronos GrowCo Transaction. Amortization costs associated with the know-how intangible asset are recorded to cost of sales on the condensed consolidated statements of net income (loss) and comprehensive income (loss).

Schedule of Indefinite-Lived Intangible Assets

Intangible assets, net are comprised of the following items as of March 31, 2026 and December 31, 2025:


	As of March 31, 2026
	Cost		Accumulated amortization		Accumulated impairment charges		Net
Software	$	5,599	$	(4,516)	$	(74)	$	1,009
Health Canada licenses	8,054		(1,725)		(6,329)		—

Israeli codes(i)	327		(108)		—		219
Know-how(ii)	7,905		(1,384)		—		6,521
Total definite-lived intangible assets	21,885		(7,733)		(6,403)		7,749
Lord Jones® brand	64,000		—		(63,200)		800
Trademarks	142		—		(142)		—
Total intangible assets	$	86,027	$	(7,733)	$	(69,745)	$	8,549


	As of December 31, 2025
	Cost		Accumulated amortization		Accumulated impairment charges		Net
Software	$	5,511	$	(4,391)	$	(76)	$	1,044
Health Canada licenses	8,182		(1,710)		(6,472)		—
Israeli codes(i)	323		(103)		—		220
Know-how(ii)	8,030		(1,204)		—		6,826
Total definite-lived intangible assets	22,046		(7,408)		(6,548)		8,090
Lord Jones® brand	64,000		—		(63,200)		800
Trademarks	142		—		(142)		—
Total intangible assets	$	86,188	$	(7,408)	$	(69,890)	$	8,890

(i)The Israeli codes were transferred by non-controlling interests to Cronos Israel in exchange for their equity interests in the Cronos Israel entities.

Schedule of Estimated Future Amortization of Definite-Lived Intangible Assets

As of March 31, 2026, the estimated future amortization of definite-lived intangible assets is as follows:


	As of March 31, 2026
Remainder of 2026 (9 months)	$	1,163
2027	1,161
2028	886
2029	823
2030	808

Thereafter	2,908
	$	7,749

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
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+ Details

Segment Information - Schedule of Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
Net income	$ 15,711	$ 7,723
Interest income, net	(8,853)	(9,665)
Income tax provision (benefit)	2,428	(455)
Depreciation and amortization	3,727	2,840
(Loss) gain on revaluation of financial instruments	2,484	(49)
Foreign currency transaction gain	(13,699)	(1,583)
Other, net	(10)	(43)
Share-based compensation	1,313	2,088
Inventory step-up recorded to cost of sales	0	517
Change in allowance for credit loss on non-operating loan	106	0
Reportable Segment
Segment Reporting Information [Line Items]
Net income	15,711	7,723
Interest income, net	(8,853)	(9,665)
Income tax provision (benefit)	2,428	(455)
Depreciation and amortization	3,727	2,840
EBITDA	13,013	443
(Loss) gain on revaluation of financial instruments	2,484	(49)
Foreign currency transaction gain	(13,699)	(1,583)
Transaction costs	959	40
Other, net	(10)	(43)
Restructuring costs	484	555
Share-based compensation	1,313	2,088
Restatement litigation costs	411	47
Inventory step-up recorded to cost of sales		517
Israel Ministry of Economy and Industry dumping inquiry expense	18	274
Change in allowance for credit loss on non-operating loan	106
Adjusted EBITDA	$ 5,079	$ 2,289

Fair Value Measurements - Schedule of Fair Value of Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments	$ 5,199	$ 7,664	$ 2,755	$ 2,813
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	821,856	791,794
Other investments	5,199	7,664
Fair Value, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	821,856	791,794
Other investments	1,447	2,253
Fair Value, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Other investments	3,752	5,411
Fair Value, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Other investments	$ 0	$ 0

Background, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Revenue by Major Product Category

The following table presents the Company’s revenue by major product category:


	Three months ended March 31,
	2026		2025
Cannabis flower	$	33,734	$	23,344
Cannabis extracts	11,457		8,608
Other	19		310
Net revenue	$	45,210	$	32,262

Schedule of Revenue from External Customers by Geographic Areas

Net revenues attributed to a geographic region based on the location of the customer were as follows:


	Three months ended March 31,
	2026		2025
Canada	$	25,351	$	20,130
Israel	14,151		9,229
Other countries	5,708		2,903
Net revenue	$	45,210	$	32,262

The following tables present the Company’s revenue by major product category for our single segment:


	Three months ended March 31,
	2026		2025
Cannabis flower	$	33,734	$	23,344
Cannabis extracts	11,457		8,608
Other	19		310
Net revenue	$	45,210	$	32,262

Net revenue attributed to a geographic region based on the location of the customer was as follows:


	Three months ended March 31,
	2026		2025
Canada	$	25,351	$	20,130
Israel	14,151		9,229
Other countries	5,708		2,903
Net revenue	$	45,210	$	32,262

Inventory, net - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
	Jul. 01, 2024	Mar. 31, 2026	Mar. 31, 2025
Inventory [Line Items]
Inventory step-up recorded to cost of sales		$ 0	$ 517
Cronos GrowCo
Inventory [Line Items]
Inventory adjustment	$ 5,605
Inventory step-up recorded to cost of sales		$ 0	$ 517

Segment Information - Schedule of Long-lived Assets by Geographic Areas (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Revenues from External Customers and Long-Lived Assets [Line Items]
Total cash and cash equivalents and short-term investments	$ 821,856	$ 831,794
Long-lived assets	142,102	145,865
Intangibles, net	8,549	8,890
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	125,776	129,352
Intangibles, net	8,219	8,551
Israel
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	16,326	16,513
Intangibles, net	$ 330	$ 339

Restructuring - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 484	$ 555
Realignment
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 484	$ 555

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Segment Information

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Segment Information

Segment reporting is prepared on the same basis that the CODM manages the business, makes operating decisions and assesses the Company’s performance. The CODM is the Company’s Chief Executive Officer. The Company operates as a single segment with the purpose of providing high-quality cannabis products to adult-use, wholesale, and medical market customers globally. The consolidated results are regularly reviewed by the CODM to assess the performance of the Company’s single segment operations and make decisions regarding the allocation of resources. The CODM reviews adjusted earnings (loss) before interest, tax, depreciation and amortization (“Adjusted EBITDA”) as the measure of segment profit or loss to evaluate performance of and allocate resources for its reportable segment. Adjusted EBITDA is defined as earnings before interest, tax, depreciation, and non-cash items and items that do not reflect management’s assessment of ongoing business performance. The CODM believes Adjusted EBITDA provides useful insight into underlying business trends and results and facilitates comparison of period-over-period results. In addition, certain significant expenses are regularly reviewed by the CODM and considered for business decisions and allocation of resources; these significant expenses include: sales and marketing, research and development, general and administrative, depreciation and amortization, and share-based compensation expense, which are presented within operating expenses on the Company’s condensed consolidated statements of net income (loss) and comprehensive income (loss). Furthermore, the CODM regularly reviews total cash and short-term investments to aid in capital allocation decisions.

The table below sets forth consolidated Adjusted EBITDA and significant expenses for our single segment:


	Three months ended March 31,
	2026		2025
Adjusted EBITDA	$	5,079	$	2,289

Significant expenses:
Sales and marketing	5,615		4,565
Research and development	1,413		793
General and administrative, excluding transaction costs	10,777		9,269
Share-based compensation	1,313		2,088
Depreciation and amortization	425		496
Total significant expenses	19,543		17,211
Restructuring costs	484		555
Transaction costs	959		40

Total operating expense	$	20,986	$	17,806

The following tables set forth a reconciliation of net income as determined in accordance with U.S. GAAP to Adjusted EBITDA for the periods indicated:


	Three months ended March 31, 2026
Net income	$	15,711
Interest income, net	(8,853)
Income tax provision	2,428
Depreciation and amortization	3,727
EBITDA	13,013

Loss on revaluation of financial instruments(i)	2,484
Foreign currency transaction gain	(13,699)
Transaction costs(ii)	959

Other, net(iii)	(10)
Restructuring costs(iv)	484
Share-based compensation(v)	1,313
Restatement litigation costs(vi)	411

Israel Ministry of Economy and Industry dumping inquiry expense(vii)	18
Change in allowance for credit loss on non-operating loan(viii)	106
Adjusted EBITDA	$	5,079


	Three months ended March 31, 2025
Net income	$	7,723
Interest income, net	(9,665)
Income tax benefit	(455)
Depreciation and amortization	2,840
EBITDA	443




Gain on revaluation of financial instruments(i)	(49)

Foreign currency transaction gain	(1,583)
Transaction costs(ii)	40

Other, net(iii)	(43)
Restructuring costs(iv)	555
Share-based compensation(v)	2,088
Restatement litigation costs(vi)	47
Inventory step-up recorded to cost of sales(ix)	517
Israel Ministry of Economy and Industry dumping inquiry expense(vii)	274

Adjusted EBITDA	$	2,289

The following tables present the Company’s revenue by major product category for our single segment:


	Three months ended March 31,
	2026		2025
Cannabis flower	$	33,734	$	23,344
Cannabis extracts	11,457		8,608
Other	19		310
Net revenue	$	45,210	$	32,262

Net revenue attributed to a geographic region based on the location of the customer was as follows:


	Three months ended March 31,
	2026		2025
Canada	$	25,351	$	20,130
Israel	14,151		9,229
Other countries	5,708		2,903
Net revenue	$	45,210	$	32,262

The table below sets forth total cash and cash equivalents and short-term investments for our single segment:


	As of March 31, 2026		As of December 31, 2025
Total cash and cash equivalents and short-term investments	$	821,856	$	831,794

Property, plant and equipment, net were physically located in the following geographic regions:


	As of March 31, 2026		As of December 31, 2025
Canada	$	125,776	$	129,352

Israel	16,326		16,513
Total	$	142,102	$	145,865

Intangibles, net were physically located in the following geographic regions:


	As of March 31, 2026		As of December 31, 2025
Canada	$	8,219	$	8,551

Israel	330		339
Total	$	8,549	$	8,890

For additions to our property, plant and equipment, net and intangibles, net for the three months ended March 31, 2026 and March 31, 2025, please see Note 5 “Property, Plant and Equipment, net” and the condensed consolidated statements of cash flows.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Loans Receivable, net - Schedule of Expected Credit Loss Allowances (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Allowance for Loan and Lease Losses [Roll Forward]
Change in allowance for credit loss on non-operating loan	$ 106	$ 0
Loans Receivable
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	5,614	623
Increase	112	9
Foreign exchange effect	(71)	(10)
Ending balance	5,655	622
Financing receivable, credit loss, expense, including transferred into investment	6	9
Loans Receivable \| Mucci Promissory Note
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	59	88
Increase	1	5
Foreign exchange effect	(1)	0
Ending balance	59	93
Loans Receivable \| Cannasoul Collaboration Loan
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	631	535
Increase	5	4
Foreign exchange effect	9	(10)
Ending balance	645	$ 529
Loans Receivable \| High Tide Loan
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	4,924
Increase	106
Foreign exchange effect	(79)
Ending balance	$ 4,951

Commitments and Contingencies (Details) ₪ in Thousands, $ in Thousands, $ in Millions	Dec. 02, 2025 USD ($)	May 16, 2024 ILS (₪)	Apr. 17, 2023 ILS (₪) defendant	Oct. 24, 2022 CAD ($)	Mar. 12, 2020 shareholder complaint
U.S. District Court of Eastern District of New York Vs. Cronos \| Pending Litigation
Loss Contingencies [Line Items]
Number of alleged shareholders \| shareholder					2
Number of putative class action complaints \| complaint					2
Payments for legal settlements \| $	$ 10
OSC Settlement \| Settled Litigation
Loss Contingencies [Line Items]
Payments for legal settlements \| $				$ 1,340
Green Leaf Vs. Cronos
Loss Contingencies [Line Items]
Number of defendants \| defendant			26
Damages sought \| ₪			₪ 420,000
Amount awarded to other party \| ₪		₪ 10
Green Leaf Vs. Cronos \| Cronos Group, Inc.
Loss Contingencies [Line Items]
Number of defendants \| defendant			3

Share-based Compensation - Stock Options Narrative (Details) - Stock options	3 Months Ended
	Mar. 31, 2026
2020 Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Share-based Compensation - Summary of DSU Activity (Details) - Deferred Share Units (DSUs) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Financial liability
Balance at beginning of period	$ 1,993	$ 1,129
Gain on revaluation	(43)	(117)
Foreign exchange effect	(31)	(3)
Balance at end of period	$ 1,919	$ 1,009
Number of awards
Balance at beginning of period (in shares)	758,499	560,261
Balance at end of period (in shares)	758,499	560,261

Share-based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	$ 1,313	$ 2,088
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	18	74
RSUs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	1,338	2,014
DSUs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation	$ (43)	$ 0

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2026
Loss Contingency [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a)Commitments There have been no material changes in the information regarding commitments as disclosed in the Company’s Annual Report. (b)Contingencies The Company is subject to various legal proceedings in the ordinary course of its business and in connection with its marketing, distribution and sale of its products. Many of these legal proceedings are in the early stages of litigation and seek damages that are unspecified or not quantified. Although the outcome of these matters cannot be predicted with certainty, the Company does not believe these legal proceedings, individually or in the aggregate, will have a material adverse effect on its consolidated financial condition but could be material to its results of operations for any particular reporting period depending, in part, on its results for that period. (i)Class action complaints relating to restatement of 2019 interim financial statements On March 11 and 12, 2020, two alleged shareholders of the Company separately filed two putative class action complaints in the U.S. District Court for the Eastern District of New York against the Company and its Chief Executive Officer and former Chief Financial Officer. The court consolidated the cases, and the consolidated amended complaint alleges violations of Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5, promulgated thereunder, against all defendants, and Section 20(a) of the Exchange Act against the individual defendants. The consolidated amended complaint generally alleges that certain of the Company’s prior public statements about revenue and internal controls were incorrect based on the Company’s disclosures relating to the Audit Committee of the Board of Directors’ review of the appropriateness of revenue recognized in connection with certain bulk resin purchases and sales of products through the wholesale channel. The consolidated amended complaint does not quantify a damage request. The defendants moved to dismiss on February 8, 2021. On November 17, 2023, the court entered an order granting the motion and dismissed the case with prejudice. On December 1, 2023, the shareholder plaintiffs sought reconsideration of the dismissal, requesting that the court instead dismiss the action without prejudice and permit the plaintiffs to seek leave to further amend the complaint. On December 3, 2024, the court issued an opinion and order granting the plaintiffs’ motion for reconsideration, and on January 10, 2025, the plaintiffs filed a second amended class action complaint, which the defendants moved to dismiss. On May 30, 2025, the parties jointly informed the court that they had reached an agreement-in-principle to settle the action and the court then stayed all deadlines in the action. On December 2, 2025, the plaintiffs moved for preliminary approval of the proposed settlement. The proposed settlement includes a payment of $10 million to be distributed, after fees and expenses, to members of the settlement class and a release by class members of their claims, including in the New York and Ontario actions, based on shares acquired on the Nasdaq or any other public U.S. market for trading stocks during the class period. The release would apply to claims relating to shares acquired on the Nasdaq or any other public U.S. market during the class period but would not resolve claims of persons who acquired shares on the TSX. The proposed settlement remains subject to preliminary and final approval by the court and certain other conditions not within the Company’s control. One of the shareholder plaintiffs in the Ontario action has informed the court that he intends to oppose approval of the settlement. On June 3, 2020, an alleged shareholder filed a Statement of Claim, as amended on August 12, 2020, in the Ontario Superior Court of Justice in Toronto, Ontario, Canada, seeking, among other things, an order certifying the action as a class action on behalf of a putative class of shareholders and damages of an unspecified amount. The Amended Statement of Claim named (i) the Company, (ii) its Chief Executive Officer, (iii) former Chief Financial Officer, (iv) former Chief Financial Officer and Chief Commercial Officer, and (v) current and former members of the Board as defendants and alleged breaches of the Ontario Securities Act, oppression under the Ontario Business Corporations Act and common law misrepresentation. The Amended Statement of Claim generally alleged that certain of the Company’s prior public statements about revenue and internal controls were misrepresentations based on the Company’s March 2, 2020 disclosure that the Audit Committee of the Board of Directors was conducting a review of the appropriateness of revenue recognized in connection with certain bulk resin purchases and sales of products through the wholesale channel, and the Company’s subsequent restatement. The Amended Statement of Claim did not quantify a damage request. On June 28, 2021, the Court dismissed motions brought by the plaintiff for leave to commence a claim for misrepresentation under the Ontario Securities Act and for certification of the action as a class action. The plaintiff appealed the Court’s dismissal of the motions only with respect to the Company, the Chief Executive Officer, and the now former Chief Financial Officer; the remaining defendants were dismissed from the matter with prejudice and the Company and all individual defendants agreed not to seek costs from the plaintiff in connection with the dismissal of the motions. On September 26, 2022, the Court of Appeal for Ontario reversed the Superior Court’s dismissal of the leave and certification motions, granted the plaintiff leave to proceed to bring a claim for misrepresentation under the Ontario Securities Act, and remitted the certification motion back to the Superior Court. On April 11, 2023, the plaintiff filed a Fresh as Amended Statement of Claim, which reflected the dismissal of the defendants for which an appeal was not sought, the removal of the claims for oppression under the Ontario Business Corporations Act and common law misrepresentation, as well as shortening the proposed class period. On October 10, 2023, the Superior Court certified the action on behalf of a class of persons or entities who acquired shares in the secondary market, including on the TSX and Nasdaq, during the period from May 9, 2019 to March 30, 2020, other than certain excluded persons. (ii)Regulatory reviews relating to restatements On October 24, 2022, the Company announced regulatory settlements as follows: SEC Settlement On October 24, 2022, the SEC issued an Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8(a) of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21(c) of the Exchange Act, Making Findings, and Imposing a Cease-and-Desist Order (the “Settlement Order”) resolving the restatements of our 2019 and 2021 interim financial statements (the “Restatements”). The Company agreed to settle with the SEC, without admitting or denying the allegations described in the Settlement Order. The Settlement Order fully and finally disposed of the investigation of the Company by the SEC into the Restatements without the payment of any civil penalty or other amount. The Settlement Order required the Company to cease and desist from committing or causing any violations and any future violations of Section 17(a) of the Securities Act, Sections 10(b), 13(a), 13(b)(2)(B) of the Exchange Act and Rules 10b-5, 13a-13, 13a-15(a), 13a-16 and 12b-20 thereunder. As a result of the Settlement Order, the Company (i) lost its status as a well-known seasoned issuer for a period of three years, (ii) is unable to rely on the private offering exemptions provided by Regulations A and D under the Securities Act for a period of five years and (iii) was unable to rely on the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 for a period of three years. OSC Settlement On October 24, 2022, the Ontario Capital Markets Tribunal approved a settlement agreement (the “Settlement Agreement”) between the Company and the staff of the Ontario Securities Commission (the “OSC”), resolving the Restatements. Pursuant to the terms of the Settlement Agreement, which fully and finally disposed the investigation of the Company by the OSC, Cronos agreed to pay a total of C$1.34 million to fully settle the matter, and acknowledged that it had failed to comply with the requirement under Section 77 of the Ontario Securities Act to file interim financial reports in the manner set out therein and had acted in a manner contrary to the public interest. (iii)Litigation and regulatory inquiries relating to marketing, distribution, import and sale of products On April 17, 2023, a group of plaintiffs led by the Green Leaf (Ale Yarok) political party filed a Statement of Claim and Request for Approval of a Class Action on behalf of a purported class of Israeli cannabis consumers in the District Court of Tel Aviv, Israel, against 26 cannabis-related parties, including three Cronos Israel entities. The Statement of Claim alleges that the defendants violated certain laws relating to the marketing of medical cannabis products, including marketing to unlicensed cannabis consumers. The lawsuit seeks a total of ILS 420 million. The Cronos Israel defendants moved to dismiss the action on August 13, 2023. The court granted the motion (and similar motions filed by other defendants) on May 16, 2024, dismissing the plaintiffs’ petition for class certification without prejudice and their individual claims with prejudice, and ordering the plaintiffs to pay ILS 10 thousand to each of the defendants for costs. On July 14, 2024, the plaintiffs appealed to the Supreme Court of Israel seeking to overturn both the dismissal of plaintiffs’ individual claims and the award of costs. The appeal is pending. On January 18, 2024, the Company was notified that the Trade Levies Commissioner of the Israel Ministry of Economy and Industry initiated a public investigation of alleged dumping of medical cannabis imports from Canada into Israel. On July 9, 2024, the Commissioner announced a preliminary determination proposing to impose an anti-dumping duty on Canadian licensed producers. Under the proposal, the Company would have been subject to a proposed duty of 369%. The Commissioner determined not to impose a provisional duty at that time pending the conclusion of the Ministry’s investigation. The Company responded to requests for information from the Ministry. On November 10, 2024, the Trade Levies Commissioner published final findings under which the Company would be subject to a proposed duty of 175%. The Commissioner’s findings were then evaluated by an ad hoc advisory committee. On December 12, 2024, the Minister of Economy announced a conflict of interest and recused himself from the evaluation of whether to impose a duty. On April 10, 2025, notwithstanding the previous recusal, the Minister of Finance released a memorandum opposing the imposition of the duty, which acted as a veto of the Minister of Economy’s approval. On April 29, 2025, the Ministry of Justice issued a memorandum sustaining the Minister of Finance’s veto. A provisional duty is not being imposed at this time. The Company cannot predict further proceedings or determinations of the Ministers of Economy or Finance, or the Finance Committee or the Knesset and cannot predict whether a duty will ultimately be imposed on its products. On July 25, 2024, a group of cannabis cultivators filed an administrative petition in the District Court of Jerusalem, Israel, against the Trade Levies Commissioner and certain Israeli and Canadian businesses. The administrative petition sought a court order requiring the Trade Levies Commissioner to impose a temporary duty on cannabis imported from Canada during the pendency of the investigation until the date on which a final determination is made by the Ministry of Economy whether to impose a duty. On September 9, 2024, the Company filed a motion to join the litigation; the court granted the Company’s motion on September 23, 2024. On February 6, 2025, the court dismissed the administrative petition. On June 12, 2025, a group of cannabis cultivators initiated a second administrative proceeding against the government and certain importers, including the Company’s subsidiaries in Israel, asking the court to declare the Minister of Finance’s veto void and order the Minister of Economy to impose an anti-dumping duty. On June 26, 2025, the cultivators moved the court for an interim injunction, which the court denied on July 13, 2025. On December 18, 2025, the court dismissed the administrative petition. The deadline for petitioners to appeal was February 16, 2026. We expect litigation and regulatory proceedings relating to the marketing, distribution, import and sale of our products to increase.

- Definition

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2026	May 06, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	001-38403
Entity Registrant Name	CRONOS GROUP INC.
Entity Incorporation, State or Country Code	Z4
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	4491 Concession Rd 12
Entity Address, City or Town	Stayner
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	L0M 1S0
City Area Code	416
Local Phone Number	504-0004
Title of 12(b) Security	Common Shares, no par value
Trading Symbol	CRON
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		373,662,039
Amendment Flag	false
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001656472
Current Fiscal Year End Date	--12-31

Goodwill and Intangible Assets, net - Schedule of Estimated Future Amortization of Definite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2026 (9 months)	$ 1,163
2027	1,161
2028	886
2029	823
2030	808
Thereafter	2,908
Net	$ 7,749	$ 8,090

Fair Value Measurements

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

The Company complies with ASC 820 Fair Value Measurements for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually. In general, fair values are determined by:

•Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities.

•Level 2 inputs utilize data points that are observable such as quoted prices, interest rates and yield curves.

•Level 3 inputs are unobservable data points for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability.

The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis:


	March 31, 2026
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	821,856	$	—	$	—	$	821,856
Other investments(i)(ii)	1,447		3,752		—		5,199


	December 31, 2025
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	791,794	$	—	$	—	$	791,794

Other investments(i)(ii)	2,253		5,411		—		7,664

(i)As of March 31, 2026 and December 31, 2025, the Company’s influence on Vitura is deemed non-significant and the investment is considered an equity security with a readily determinable fair value. See Note 3 “Investments” for further information.

(ii)As of March 31, 2026 and December 31, 2025, the fair value of the Company’s warrants in High Tide is estimated using a Black-Scholes model with key inputs including share price and volatility of High Tide common shares, the risk-free rate and the remaining term of the High Tide Warrant. See Note 3 “Investments” for further information.

There were no transfers between fair value categories during the periods presented.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Section 50
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+ Details

Restructuring - Restructuring Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Restructuring Reserve [Roll Forward]
Expenses	$ 484	$ 555
Realignment
Restructuring Reserve [Roll Forward]
Accrual, Beginning Balance	315	0
Expenses	484	555
Payments/Write-offs	(563)	(115)
Accrual, Ending Balance	236	440
Employee Termination Benefits \| Realignment
Restructuring Reserve [Roll Forward]
Accrual, Beginning Balance	104	0
Expenses	0	257
Payments/Write-offs	(104)	0
Accrual, Ending Balance	0	257
Other Restructuring Costs \| Realignment
Restructuring Reserve [Roll Forward]
Accrual, Beginning Balance	211	0
Expenses	484	298
Payments/Write-offs	(459)	(115)
Accrual, Ending Balance	$ 236	$ 183

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

Background, Basis of Presentation, and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of presentation These condensed consolidated interim financial statements of Cronos are unaudited. They have been prepared in accordance with Generally Accepted Accounting Principles in the United States (“U.S. GAAP”) for interim financial information and with applicable rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) relating to interim financial statements. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2026 are not necessarily indicative of the results that may be expected for any other reporting period. These condensed consolidated interim financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes included in its Annual Report on Form 10-K for the year ended December 31, 2025 (the “Annual Report”).
Reclassifications	Certain prior period amounts have been reclassified to conform to the current period presentation of our condensed consolidated interim financial statements. These reclassifications had no effect on the reported results of operations and ending shareholders’ equity.
Segment information	Segment information Segment reporting is prepared on the same basis that the Company’s chief operating decision maker (the “CODM”) manages the business, makes operating decisions and assesses the Company’s performance. The Company has determined that it has one operating segment and therefore one reportable segment, which is comprised of operations in Canada and Israel and is involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets.
Short-term Investments	Short-term Investments Short-term investments are classified as held-to-maturity and recorded at cost. Interest earned on short-term investments is recorded in interest receivables on the consolidated balance sheets and interest income, net on the condensed consolidated statements of net income (loss) and comprehensive income (loss). Cash inflows and outflows related to the purchase and maturity of short-term investments are classified as investing activities in the Company’s condensed consolidated statements of cash flows. As of March 31, 2026 and December 31, 2025, the Company’s short-term investments of nil and $40,000, respectively, were comprised of Guaranteed Investment Certificates held in Canada.
Concentration of risk	Concentration of risk Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Company is exposed to credit risk from its operating activities, primarily accounts receivable and other receivables, and its investing activities, including cash held with banks and financial institutions, short-term investments and loans receivable. The Company’s maximum exposure to this risk is equal to the carrying amount of these financial assets, which amounted to $895,029 and $909,839 as of March 31, 2026 and December 31, 2025, respectively. An impairment analysis is performed at each reporting date using a provision matrix to measure expected credit losses. The provision rates are based on the days past due for groupings of various customer segments with similar loss patterns. The calculation reflects the probability-weighted outcome, the time value of money and reasonable and supportable information that is available at the reporting date about past events and current conditions. Effective January 1, 2026, the Company elected the practical expedient under ASU 2025-05, which permits the assumption that current conditions as of the reporting date remain unchanged for the remaining life of the asset when developing the expected credit loss estimate for current accounts receivable and current contract assets arising from contracts with customers. Accounts receivable are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, among others, the failure of a debtor to engage in a repayment plan, and a failure to make contractual payments for a period of greater than 120 days past due. As of March 31, 2026 and December 31, 2025, the Company had $12 and $9, respectively, in expected credit losses that have been recognized on receivables from contracts with customers. As of March 31, 2026, the Company assessed that there is a concentration of credit risk, as 21% of the Company’s accounts receivable were due from one customer with an established credit history with the Company. As of December 31, 2025, 16% of the Company’s accounts receivable were due from one customer with an established credit history with the Company. The Company sells products to a limited number of major customers. Major customers are defined as customers that each individually accounted for greater than 10% of the Company’s net revenue before excise taxes. During the three months ended March 31, 2026, the Company earned a total net revenue before excise taxes of $24,597 from two major customers, together accounting for 42% of the Company’s total net revenue before excise taxes. During the three months ended March 31, 2025, the Company earned a total net revenue before excise taxes of $17,751 from two major customers, together accounting for 42% of the Company’s total net revenue before excise taxes.
Adoption of new accounting pronouncement and New accounting pronouncements not yet adopted	Adoption of new accounting pronouncement In July 2025, the Financial Accounting Standards Board issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”). ASU 2025-05 is effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods, with early adoption permitted. Entities should apply the new guidance prospectively. This ASU effectively simplifies the expected credit loss analysis on accounts receivable and contract assets. Entities may now elect a practical expedient that assumes that current conditions as of the balance sheet date will not change for the remaining life of the asset when evaluating the likelihood of repayment. The adoption of ASU 2025-05 did not have a material effect on the Company’s condensed consolidated financial statements. (h)New accounting pronouncements not yet adopted In November 2024, the Financial Accounting Standards Board issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2024-03”). ASU 2024-03 adds an obligation under ASC 220-40 to require a footnote disclosure about specific expenses by requiring public business entities to disaggregate, in a tabular presentation, each relevant expense caption on the face of the income statement that includes any of the following natural expenses: (1) purchases of inventory, (2) employee compensation, (3) depreciation, (4) intangible asset amortization, and (5) depreciation, depletion, and amortization recognized as part of oil and gas-producing activities or other types of depletion expenses. The tabular disclosure would also include certain other expenses, when applicable. ASU 2024-03 does not change or remove existing expense disclosure requirements; however, it may affect where that information appears in the footnotes to the financial statements. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted, and applicable entities are required to adopt ASU 2024-03 prospectively; however, companies are permitted to apply the amendments in ASU 2024-03 retrospectively. The Company does not expect the adoption of ASU 2024-03 to have a material impact on its consolidated financial statements. In January 2025, the effective date was further clarified with the issuance of ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date (“ASU 2025-01”). No guidance was changed with ASU 2025-01, but the issuance simply ensures that all public business entities have a clear and consistent timeline for implementing the enhanced expense disaggregation disclosures. In December 2025, the Financial Accounting Standards Board issued ASU 2025-11, Interim Reporting (Topic 270): Improvements to Interim Disclosure Requirements. The ASU clarifies and reorganizes existing interim reporting guidance to improve its operability and consistency, primarily by emphasizing that interim disclosures should focus on significant changes since the most recent annual reporting period. The amendments do not change the recognition or measurement of amounts reported in the financial statements. The guidance is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. The adoption of ASU 2025-11 is not expected to have a material impact on the Company’s consolidated financial statements.

- Definition

Disclosure of accounting policy for investment in financial asset.

+ References + Details

- Definition

Disclosure of accounting policy for segment reporting.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Loans Receivable, net - Schedule of Loan Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current portion of loans receivable, net	$ 128	$ 0
Total long-term portion of loans receivable, net	20,803	20,847
Total loans receivable, net	20,931	20,847
Loans Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current portion of Mucci Promissory Note accrued interest	128	0
Total current portion of loans receivable, net	128	0
Add: Long-term portion of accrued interest	494	464
High Tide Loan \| Loans Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Long term portion of loans receivable, before accrued interest	9,235	9,185
Mucci Promissory Note \| Loans Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Long term portion of loans receivable, before accrued interest	9,081	9,226
Cannasoul Collaboration Loan \| Loans Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Long term portion of loans receivable, before accrued interest	$ 1,993	$ 1,972

Property, Plant and Equipment, net (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Property, Plant and Equipment [Line Items]
Total Cost	$ 294,266	$ 295,326
Less: accumulated depreciation	(45,297)	(42,639)
Less: accumulated impairment charges	(106,867)	(106,822)
Property, Plant and Equipment, net	142,102	145,865
Land
Property, Plant and Equipment [Line Items]
Total Cost	7,183	7,245
Building and leasehold improvements
Property, Plant and Equipment [Line Items]
Total Cost	235,368	236,811
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total Cost	48,635	47,514
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total Cost	2,717	2,694
Construction in progress
Property, Plant and Equipment [Line Items]
Total Cost	$ 363	$ 1,062

Related Party Transactions

3 Months Ended

Mar. 31, 2026

Related Party Transactions

(a)Vendor Agreement

In November 2022, the Company entered into an agreement with an external vendor whereby the vendor would provide certain manufacturing services to the Company. The vendor then subcontracted out a portion of those services to another company whose chief executive officer is an immediate family member of an executive of the Company. In November 2023, the Company negotiated a direct contract with the related-party vendor. In April 2026, subsequent to the period end, this vendor restructured its management team and, as a result, the vendor no longer meets the definition of a related party to the Company.


	Three months ended March 31,
	2026		2025
Related party – purchases of products and services	$	557	$	189

The Company had outstanding accounts payable related to the agreement of $248 and $208 as of March 31, 2026 and December 31, 2025, respectively.

(b)Consulting Agreement

In connection with the Cronos GrowCo Transaction, Cronos GrowCo entered into a consulting services agreement with a consulting firm managed by a member of the group of investors holding the remaining 50% ownership of Cronos GrowCo, pursuant to which the consulting firm provides management services to Cronos GrowCo. During the three months ended March 31, 2026 and 2025, the Company incurred $437 and $209 of expense under this agreement. As of both March 31, 2026 and December 31, 2025, the Company had no outstanding payables related to this agreement.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Share-based Compensation (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

The following table summarizes the total share-based compensation expense associated with the Company’s stock options, RSUs and DSUs for the three months ended March 31, 2026 and 2025:


	Three months ended March 31,
	2026		2025
Stock options	$	18	$	74
RSUs	1,338		2,014
DSUs	(43)		—
Total share-based compensation	$	1,313	$	2,088

Schedule of the Changes in Options and Options Outstanding

The following is a summary of the changes in stock options for the three months ended March 31, 2026 and 2025:


	Weighted-average exercise price (C$) (i)		Number of options	Weighted-average remaining contractual term (years)
Balance as of December 31, 2025	$	5.68	588,317	2.48



Balance as of March 31, 2026	$	5.68	588,317	2.24
Exercisable as of March 31, 2026	$	5.92	541,237	2.09


	Weighted-average exercise price (C$) (i)		Number of options	Weighted-average remaining contractual term (years)
Balance as of December 31, 2024	$	5.63	717,264	3.65



Balance as of March 31, 2025	$	5.63	717,264	3.40
Exercisable as of March 31, 2025	$	6.20	573,253	3.04

(i)The weighted-average exercise price reflects the conversion of foreign currency-denominated stock options translated into C$ using the average foreign exchange rate as of the date of issuance.

The following table summarizes stock options outstanding:


	As of March 31, 2026	As of December 31, 2025
2020 Omnibus Plan	588,317	588,317


Total stock options outstanding	588,317	588,317

Schedule of Changes in RSUs

The following is a summary of the changes in RSUs for the three months ended March 31, 2026 and 2025:


	Weighted-average grant date fair value (C$)(ii)		Number of RSUs
Balance as of December 31, 2025	$	2.85	5,385,106
Granted(i)	3.49		1,507,369
Vested and issued	2.66		(1,635,895)

Balance as of March 31, 2026	$	3.05	5,256,580


	Weighted-average grant date fair value (C$)(ii)		Number of RSUs
Balance as of December 31, 2024	$	3.50	8,382,213
Granted(i)	2.73		1,775,668
Vested and issued	4.00		(4,459,280)
Cancellation and forfeitures	3.47		(134,999)
Balance as of March 31, 2025	$	2.86	5,563,602

(ii)The weighted-average grant date fair value reflects the conversion of foreign currency-denominated RSUs translated into C$ using the foreign exchange rate as of the date of issuance.

Schedule of Changes in DSUs and Warrants

The following is a summary of the changes in DSUs for the three months ended March 31, 2026 and 2025:


	Financial liability		Number of DSUs
Balance as of December 31, 2025	$	1,993	758,499


Gain on revaluation	(43)		—
Foreign exchange effect	(31)		—
Balance as of March 31, 2026	$	1,919	758,499


	Financial liability		Number of DSUs
Balance as of December 31, 2024	$	1,129	560,261


Gain on revaluation	(117)		—
Foreign exchange effect	(3)		—
Balance as of March 31, 2025	$	1,009	560,261

Goodwill and Intangible Assets, net

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, net

(a) Goodwill

Goodwill is comprised of the following items as of March 31, 2026 and December 31, 2025:


	As of March 31, 2026
	Cost		Accumulated Impairment Charges		Net
Peace Naturals	$	1,006	$	—	$	1,006
Cronos GrowCo	64,430		—		64,430
	$	65,436	$	—	$	65,436


	As of December 31, 2025
	Cost		Accumulated Impairment Charges		Net
Peace Naturals	$	1,022	$	—	$	1,022
Cronos GrowCo	65,456		—		65,456
	$	66,478	$	—	$	66,478

(b) Intangible assets, net

Intangible assets, net are comprised of the following items as of March 31, 2026 and December 31, 2025:


	As of March 31, 2026
	Cost		Accumulated amortization		Accumulated impairment charges		Net
Software	$	5,599	$	(4,516)	$	(74)	$	1,009
Health Canada licenses	8,054		(1,725)		(6,329)		—

Israeli codes(i)	327		(108)		—		219
Know-how(ii)	7,905		(1,384)		—		6,521
Total definite-lived intangible assets	21,885		(7,733)		(6,403)		7,749
Lord Jones® brand	64,000		—		(63,200)		800
Trademarks	142		—		(142)		—
Total intangible assets	$	86,027	$	(7,733)	$	(69,745)	$	8,549


	As of December 31, 2025
	Cost		Accumulated amortization		Accumulated impairment charges		Net
Software	$	5,511	$	(4,391)	$	(76)	$	1,044
Health Canada licenses	8,182		(1,710)		(6,472)		—
Israeli codes(i)	323		(103)		—		220
Know-how(ii)	8,030		(1,204)		—		6,826
Total definite-lived intangible assets	22,046		(7,408)		(6,548)		8,090
Lord Jones® brand	64,000		—		(63,200)		800
Trademarks	142		—		(142)		—
Total intangible assets	$	86,188	$	(7,408)	$	(69,890)	$	8,890

(i)The Israeli codes were transferred by non-controlling interests to Cronos Israel in exchange for their equity interests in the Cronos Israel entities.

As of March 31, 2026, the estimated future amortization of definite-lived intangible assets is as follows:


	As of March 31, 2026
Remainder of 2026 (9 months)	$	1,163
2027	1,161
2028	886
2029	823
2030	808

Thereafter	2,908
	$	7,749

Income per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Basic income per share computation
Net income attributable to the shareholders of Cronos Group	$ 13,752	$ 6,122
Weighted-average number of common shares outstanding for computation for basic income per share (in shares)	379,374,109	382,958,797
Basic income per share (in dollars per share)	$ 0.04	$ 0.02
Diluted income per share computation
Net income attributable to the shareholders of Cronos Group	$ 13,752	$ 6,122
Weighted-average number of common shares outstanding used in the computation of basic income per share (in shares)	379,374,109	382,958,797
Dilutive effect of Top-up Rights – market price (in shares)	110,915	181,761
Weighted-average number of common shares for computation of diluted income from continuing operations per share (in shares)	381,799,288	386,963,685
Diluted income per share (in dollars per share)	$ 0.04	$ 0.02
Total anti-dilutive securities (in shares)	1,288,578	18,273,597
Stock options
Diluted income per share computation
Dilutive effect (in shares)	4,223	0
RSUs
Diluted income per share computation
Dilutive effect (in shares)	2,310,041	3,823,127

Share-based Compensation - Stock-based Compensation Expense Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ 1,313	$ 2,088
Revaluation of Financial Instruments
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation		117
Deferred Share Units (DSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation	$ (43)	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Related party – purchases of products and services \| Related Party
Related Party Transaction [Line Items]
Related party – purchases of products and services	$ 557	$ 189

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481990/310-10-45-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

+ Details

Share-based Compensation - Summary of the Changes in Options (Details) - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025	Dec. 31, 2024
Weighted average exercise price
Balance at beginning of period (in dollars per share)	$ 5.68	$ 5.63	$ 5.63
Balance at end of period (in dollars per share)	5.68	5.63	$ 5.68	$ 5.63
Exercisable (in dollars per share)	$ 5.92	$ 6.20
Number of options
Balance at beginning of period (in shares)	588,317	717,264	717,264
Balance at end of period (in shares)	588,317	717,264	588,317	717,264
Exercisable (in shares)	541,237	573,253
Weighted-average remaining contractual term (years)
Outstanding	2 years 2 months 26 days	3 years 4 months 24 days	2 years 5 months 23 days	3 years 7 months 24 days
Exercisable	2 years 1 month 2 days	3 years 14 days

Share-based Compensation - Schedule of Stock Options Outstanding (Details) - shares	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock options outstanding (in shares)	588,317	588,317	717,264	717,264
2020 Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock options outstanding (in shares)	588,317	588,317

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 821,856	$ 791,794
Short-term investments	0	40,000
Accounts receivable, net	32,962	34,099
Interest receivable	5,734	8,654
Other receivables	13,546	14,445
Current portion of loans receivable, net	128	0
Inventory, net	48,676	46,750
Prepaids and other current assets	4,974	8,344
Total current assets	927,876	944,086
Other investments	5,199	7,664
Non-current portion of loans receivable, net	20,803	20,847
Property, plant and equipment, net	142,102	145,865
Right-of-use assets	1,303	1,422
Goodwill	65,436	66,478
Intangible assets, net	8,549	8,890
Deferred tax assets	841	1,888
Total assets	1,172,109	1,197,140
Current liabilities
Accounts payable	10,281	11,640
Income taxes payable	1,369	0
Accrued liabilities	30,601	36,210
Current portion of lease obligation	169	337
Total current liabilities	42,420	48,187
Non-current portion due to non-controlling interests	749	733
Non-current portion of lease obligation	1,142	1,172
Deferred tax liabilities	3,984	4,089
Total liabilities	48,295	54,181
Shareholders’ equity
Share capital and additional paid-in capital (no par value; authorized for issue as of March 31, 2026 and December 31, 2025: unlimited; shares outstanding as of March 31, 2026 and December 31, 2025: 376,258,707 and 381,592,969, respectively)	647,040	662,983
Retained earnings	460,540	447,756
Accumulated other comprehensive loss	(33,918)	(16,842)
Total equity attributable to shareholders of Cronos Group	1,073,662	1,093,897
Non-controlling interests	50,152	49,062
Total shareholders’ equity	1,123,814	1,142,959
Total liabilities and shareholders’ equity	$ 1,172,109	$ 1,197,140

Share Repurchase Program - Share Repurchase Program (Details)	3 Months Ended
	Mar. 31, 2026 USD ($) shares	May 07, 2025 USD ($) shares
Share Repurchase Program [Line Items]
Share repurchase program, authorized, amount		$ 50,000,000
Maximum repurchases of shares in period (in shares) \| shares		19,270,951,000,000
Maximum repurchases of shares in period (percentage)		0.05
Share repurchases	$ 16,730,000
Common Stock Including Additional Paid in Capital
Share Repurchase Program [Line Items]
Share repurchases (in shares) \| shares	6,365,700
Share repurchases	$ 16,730,000

Subsequent Events (Details)	May 08, 2026 USD ($)	May 07, 2025 USD ($)
Subsequent Event [Line Items]
Share repurchase program, authorized, amount		$ 50,000,000
Maximum repurchases of shares in period (percentage)		0.05
Subsequent Event
Subsequent Event [Line Items]
Share repurchase program, authorized, amount	$ 50,000,000
Maximum repurchases of shares in period (percentage)	0.05

Condensed Consolidated Statements of Net Income (Loss) and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Net revenue, before excise taxes	$ 58,965	$ 41,898
Excise taxes	(13,755)	(9,636)
Net revenue	45,210	32,262
Cost of sales	25,392	18,528
Inventory write-down	665	0
Gross profit	19,153	13,734
Operating expenses
Sales and marketing	5,615	4,565
Research and development	1,413	793
General and administrative	11,736	9,309
Restructuring costs	484	555
Share-based compensation	1,313	2,088
Depreciation and amortization	425	496
Total operating expenses	20,986	17,806
Operating loss	(1,833)	(4,072)
Other income (expense)
Interest income, net	8,853	9,665
Gain (loss) on revaluation of financial instruments	(2,484)	49
Foreign currency gain	13,699	1,583
Change in allowance for credit loss on non-operating loan	(106)	0
Other, net	10	43
Total other income	19,972	11,340
Income before income taxes	18,139	7,268
Income tax provision (benefit)	2,428	(455)
Net income	15,711	7,723
Net income attributable to non-controlling interest	1,959	1,601
Net income attributable to Cronos Group	13,752	6,122
Comprehensive income (loss)
Net income	15,711	7,723
Other comprehensive loss
Foreign exchange loss on translation	(17,945)	(3,082)
Comprehensive income (loss)	(2,234)	4,641
Comprehensive income attributable to non-controlling interests	1,090	1,443
Comprehensive income (loss) attributable to Cronos Group	$ (3,324)	$ 3,198
Net income per share
Basic net income per share attributable to Cronos Group (in dollars per share)	$ 0.04	$ 0.02
Diluted net income per share attributable to Cronos Group (in dollars per share)	$ 0.04	$ 0.02

Share Repurchase Program	3 Months Ended
Share Repurchase Program	Mar. 31, 2026
Equity [Abstract]
Share Repurchase Program	Share Repurchase Program On May 7, 2025, the Board authorized a share repurchase program of up to $50,000. The repurchase program commenced on May 14, 2025 and is expected to terminate on May 13, 2026, unless earlier terminated. Repurchases under the program may be made from time to time, either through open market purchases at then-prevailing market prices through the facilities of the Nasdaq or other U.S. published markets, privately negotiated transactions or otherwise. Open market repurchases will not exceed 19,270,951 common shares, being 5% of the outstanding common shares as of May 7, 2025. The timing and amount of repurchases are subject to market conditions, compliance with applicable laws and regulations and any other factors management of the Company may deem relevant. The program does not obligate Cronos to acquire any specific dollar amount or number of common shares and may be modified, suspended, or discontinued at any time. During the three months ended March 31, 2026, the Company repurchased 6,365,700 common shares for $16,730, inclusive of commissions and excise taxes. All common shares repurchased under this program were retired and cancelled upon settlement. As a result, the repurchased common shares were removed from issued and outstanding share capital, reducing the number of common shares outstanding. The value of the retired common shares was charged against share capital and additional paid-in capital. The Company funded the repurchases using available cash resources. Subsequent to March 31, 2026, the Board authorized a new share repurchase program intended to succeed the Company’s existing share repurchase program. See Note 15, “Subsequent Events.”

Restructuring

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

Restructuring

In the first quarter of 2022, the Company initiated a strategic plan to realign the business around its brands, centralize functions and evaluate the Company’s supply chain (the “Realignment”). As part of the Realignment, on February 28, 2022, the Company’s Board of Directors (the “Board”) approved plans to leverage the Company’s strategic partnerships to improve supply chain efficiencies and reduce manufacturing overhead by exiting its production facility in Stayner, Ontario, Canada (the “Peace Naturals Campus”). On February 27, 2023, the Board approved revisions to the Realignment, under which the Company was maintaining select components of its operations at the Peace Naturals Campus, namely distribution warehousing, certain research and development activities and manufacturing of certain of the Company’s products. In the third quarter of 2023, the Board approved revisions to the Realignment to wind-down operations at the Company’s Winnipeg, Manitoba facility (the “Cronos Fermentation Facility”), list the Cronos Fermentation Facility assets for sale, and implement additional organization-wide cost reductions as the Company continues its Realignment initiatives. On November 26, 2023, the Company entered into an agreement for the sale and leaseback of the Peace Naturals Campus, which was subsequently terminated pursuant to its terms during the second quarter of 2024. The Company plans to continue and expand operations at the Peace Naturals Campus. In the first quarter of 2025, the Company continued its Realignment initiatives to transform its IT infrastructure and finance departments to drive long-term cost efficiencies, improve cross-functional collaboration, and support global scalability. These actions included leadership transitions, consolidation of certain roles, and assessment of, and investment in, critical IT infrastructure. The Realignment initiatives are intended to position the Company to drive profitable and sustainable growth over time.

During the three months ended March 31, 2026, the Company incurred $484 of restructuring costs in connection with the Realignment. During the three months ended March 31, 2025, the Company incurred $555 of restructuring costs in connection with the Realignment. Charges related thereto include employee-related costs such as severance and other termination benefits, as well as IT infrastructure and finance transformation costs associated with the Realignment.

The following tables summarize the Company’s restructuring activity for the three months ended March 31, 2026 and three months ended March 31, 2025:


	Accrual as of December 31, 2025		Expenses		Payments/Write-offs		Accrual as of March 31, 2026
Employee Termination Benefits	$	104	$	—	$	(104)	$	—
Other Restructuring Costs	211		484		(459)		236
Total	$	315	$	484	$	(563)	$	236


	Accrual as of December 31, 2024		Expenses		Payments/Write-offs		Accrual as of March 31, 2025
Employee Termination Benefits	$	—	$	257	$	—	$	257
Other Restructuring Costs	—		298		(115)		183
Total	$	—	$	555	$	(115)	$	440

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Segment Information - Schedule of Segment Data (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Significant expenses:
Sales and marketing	$ 5,615	$ 4,565
Research and development	1,413	793
Share-based compensation	1,313	2,088
Depreciation and amortization	425	496
Restructuring costs	484	555
Total operating expenses	20,986	17,806
Reportable Segment
Segment Reporting Information [Line Items]
Adjusted EBITDA	5,079	2,289
Significant expenses:
Sales and marketing	5,615	4,565
Research and development	1,413	793
General and administrative, excluding transaction costs	10,777	9,269
Share-based compensation	1,313	2,088
Depreciation and amortization	425	496
Total significant expenses	19,543	17,211
Restructuring costs	484	555
Transaction costs	959	40
Total operating expenses	$ 20,986	$ 17,806

Inventory, net (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Inventory Disclosure [Abstract]
Raw materials	$ 9,170	$ 8,762
Work-in-progress	25,832	25,830
Finished goods	13,578	12,012
Supplies and consumables	96	146
Total	$ 48,676	$ 46,750

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets Measured on Recurring Basis

The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis:


	March 31, 2026
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	821,856	$	—	$	—	$	821,856
Other investments(i)(ii)	1,447		3,752		—		5,199


	December 31, 2025
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	791,794	$	—	$	—	$	791,794

Other investments(i)(ii)	2,253		5,411		—		7,664

Segment Information - Narrative (Details)	3 Months Ended
Segment Information - Narrative (Details)	Mar. 31, 2026 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

Property, Plant and Equipment, net

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, net

Property, plant and equipment, net consisted of the following:


	As of March 31, 2026		As of December 31, 2025
Cost
Land	$	7,183	$	7,245
Building and leasehold improvements	235,368		236,811
Machinery and Equipment	48,635		47,514
Furniture and fixtures	2,717		2,694
Construction in progress	363		1,062
Total Cost	294,266		295,326
Less: accumulated depreciation	(45,297)		(42,639)
Less: accumulated impairment charges	(106,867)		(106,822)
Property, Plant and Equipment, net	$	142,102	$	145,865

For the three months ended March 31, 2026, depreciation expense on property, plant and equipment was $3,097. For the three months ended March 31, 2025, depreciation expense on property, plant and equipment was $2,144. This depreciation expense was included in cost of sales as well as depreciation and amortization in operating expenses on the condensed consolidated statements of net income (loss) and comprehensive income (loss).

As of March 31, 2026 and December 31, 2025, the Company had $465 and $760, respectively, of unpaid purchases of property, plant and equipment accrued in accounts payable on the condensed consolidated balance sheets.

Background, Basis of Presentation, and Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Background, Basis of Presentation, and Summary of Significant Accounting Policies

(a)Background

Cronos Group Inc. (“Cronos” or the “Company”) is incorporated in the province of British Columbia under the Business Corporations Act (British Columbia) with principal executive offices at 4491 Concession Rd 12, Stayner, Ontario, L0M 1S0. The Company’s common shares are currently listed on the Toronto Stock Exchange (“TSX”) and Nasdaq Global Market (“Nasdaq”) under the ticker symbol “CRON.”

Cronos is a global cannabis company focused on scaling leading consumer goods products through research and development and innovation. With a passion to responsibly elevate the consumer experience, Cronos is building an iconic brand portfolio. Cronos’ diverse international brand portfolio includes Spinach®, PEACE NATURALS®, LIT™ and Lord Jones®.

(b)Basis of presentation

These condensed consolidated interim financial statements of Cronos are unaudited. They have been prepared in accordance with Generally Accepted Accounting Principles in the United States (“U.S. GAAP”) for interim financial information and with applicable rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) relating to interim financial statements. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three months ended March 31, 2026 are not necessarily indicative of the results that may be expected for any other reporting period.

These condensed consolidated interim financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes included in its Annual Report on Form 10-K for the year ended December 31, 2025 (the “Annual Report”).

Certain prior period amounts have been reclassified to conform to the current period presentation of our condensed consolidated interim financial statements. These reclassifications had no effect on the reported results of operations and ending shareholders’ equity.

(c)Segment information

Segment reporting is prepared on the same basis that the Company’s chief operating decision maker (the “CODM”) manages the business, makes operating decisions and assesses the Company’s performance. The Company has determined that it has one operating segment and therefore one reportable segment, which is comprised of operations in Canada and Israel and is involved in the cultivation, manufacture, and marketing of cannabis and cannabis-derived products for the medical and adult-use markets.

(d)Revenue recognition

The following table presents the Company’s revenue by major product category:


	Three months ended March 31,
	2026		2025
Cannabis flower	$	33,734	$	23,344
Cannabis extracts	11,457		8,608
Other	19		310
Net revenue	$	45,210	$	32,262

Net revenues attributed to a geographic region based on the location of the customer were as follows:


	Three months ended March 31,
	2026		2025
Canada	$	25,351	$	20,130
Israel	14,151		9,229
Other countries	5,708		2,903
Net revenue	$	45,210	$	32,262

(e)Short-term Investments

Short-term investments are classified as held-to-maturity and recorded at cost. Interest earned on short-term investments is recorded in interest receivables on the consolidated balance sheets and interest income, net on the condensed consolidated statements of net income (loss) and comprehensive income (loss). Cash inflows and outflows related to the purchase and maturity of short-term investments are classified as investing activities in the Company’s condensed consolidated statements of cash flows. As of March 31, 2026 and December 31, 2025, the Company’s short-term investments of nil and $40,000, respectively, were comprised of Guaranteed Investment Certificates held in Canada.

(f)Concentration of risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Company is exposed to credit risk from its operating activities, primarily accounts receivable and other receivables, and its investing activities, including cash held with banks and financial institutions, short-term investments and loans receivable. The Company’s maximum exposure to this risk is equal to the carrying amount of these financial assets, which amounted to $895,029 and $909,839 as of March 31, 2026 and December 31, 2025, respectively.

An impairment analysis is performed at each reporting date using a provision matrix to measure expected credit losses. The provision rates are based on the days past due for groupings of various customer segments with similar loss patterns. The calculation reflects the probability-weighted outcome, the time value of money and reasonable and supportable information that is available at the reporting date about past events and current conditions. Effective January 1, 2026, the Company elected the practical expedient under ASU 2025-05, which permits the assumption that current conditions as of the reporting date remain unchanged for the remaining life of the asset when developing the expected credit loss estimate for current accounts receivable and current contract assets arising from contracts with customers. Accounts receivable are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, among others, the failure of a debtor to engage in a repayment plan, and a failure to make contractual payments for a period of greater than 120 days past due. As of March 31, 2026 and December 31, 2025, the Company had $12 and $9, respectively, in expected credit losses that have been recognized on receivables from contracts with customers.

As of March 31, 2026, the Company assessed that there is a concentration of credit risk, as 21% of the Company’s accounts receivable were due from one customer with an established credit history with the Company. As of December 31, 2025, 16% of the Company’s accounts receivable were due from one customer with an established credit history with the Company.

The Company sells products to a limited number of major customers. Major customers are defined as customers that each individually accounted for greater than 10% of the Company’s net revenue before excise taxes. During the three months ended March 31, 2026, the Company earned a total net revenue before excise taxes of $24,597 from two major customers, together accounting for 42% of the Company’s total net revenue before excise taxes. During the three months ended March 31, 2025, the Company earned a total net revenue before excise taxes of $17,751 from two major customers, together accounting for 42% of the Company’s total net revenue before excise taxes.

(g)Adoption of new accounting pronouncement

In July 2025, the Financial Accounting Standards Board issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”). ASU 2025-05 is effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods, with early adoption permitted. Entities should apply the new guidance prospectively. This ASU effectively simplifies the expected credit loss analysis on accounts receivable and contract assets. Entities may now elect a practical expedient that assumes that current conditions as of the balance sheet date will not change for the remaining life of the asset when evaluating the likelihood of repayment. The adoption of ASU 2025-05 did not have a material effect on the Company’s condensed consolidated financial statements.

(h)New accounting pronouncements not yet adopted

In November 2024, the Financial Accounting Standards Board issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2024-03”). ASU 2024-03 adds an obligation under ASC 220-40 to require a footnote disclosure about specific expenses by requiring public business entities to disaggregate, in a tabular presentation, each relevant expense caption on the face of the income statement that includes any of the following natural expenses: (1) purchases of inventory, (2) employee compensation, (3) depreciation, (4) intangible asset amortization, and (5) depreciation, depletion, and amortization recognized as part of oil and gas-producing activities or other types of depletion expenses. The tabular disclosure would also include certain other expenses, when applicable. ASU 2024-03 does not change or remove existing expense disclosure requirements; however, it may affect where that information appears in the footnotes to the financial statements. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted, and applicable entities are required to adopt ASU 2024-03 prospectively; however, companies are permitted to apply the amendments in ASU 2024-03 retrospectively. The Company does not expect the adoption of ASU 2024-03 to have a material impact on its consolidated financial statements. In January 2025, the effective date was further clarified with the issuance of ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date (“ASU 2025-01”). No guidance was changed with ASU 2025-01, but the issuance simply ensures that all public business entities have a clear and consistent timeline for implementing the enhanced expense disaggregation disclosures.

In December 2025, the Financial Accounting Standards Board issued ASU 2025-11, Interim Reporting (Topic 270): Improvements to Interim Disclosure Requirements. The ASU clarifies and reorganizes existing interim reporting guidance to improve its operability and consistency, primarily by emphasizing that interim disclosures should focus on significant changes since the most recent annual reporting period. The amendments do not change the recognition or measurement of amounts reported in the financial statements. The guidance is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. The adoption of ASU 2025-11 is not expected to have a material impact on the Company’s consolidated financial statements.

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Operating activities
Net income	$ 15,711	$ 7,723
Adjustments to reconcile net income to net cash used in operating activities:
Share-based compensation	1,313	2,088
Depreciation and amortization	3,727	2,840
Loss from investments	2,484	68
Changes in expected credit losses on long-term financial assets	107	9
Inventory step-up recorded to cost of sales	0	517
Foreign currency gain	(13,699)	(1,583)
Other non-cash operating activities, net	979	779
Changes in operating assets and liabilities:
Accounts receivable, net	879	(3,409)
Interest receivable	2,360	3,453
Other receivables	724	(2,379)
Prepaids and other current assets	3,310	(60)
Inventory, net	(2,039)	(1,631)
Accounts payable	(1,206)	(1,637)
Income taxes payable	1,387	4
Accrued liabilities	(5,139)	(8,878)
Net cash provided by (used in) operating activities	10,898	(2,096)
Investing activities
Purchase of short-term investments	0	(40,000)
Proceeds from short-term investments	40,000	0
Purchase of property, plant and equipment	(1,875)	(15,258)
Purchase of intangible assets	(96)	(98)
Net cash provided by (used in) investing activities	38,029	(55,356)
Financing activities
Repurchases of common stock	(16,730)	0
Withholding taxes paid on share-based awards	(1,538)	(2,930)
Net cash used in financing activities	(18,268)	(2,930)
Effect of foreign currency translation on cash and cash equivalents	(597)	(604)
Net change in cash and cash equivalents	30,062	(60,986)
Cash and cash equivalents, beginning of period	791,794	858,805
Cash and cash equivalents, end of period	821,856	797,819
Supplemental cash flow information
Interest paid	0	0
Interest received	9,370	13,052
Income taxes paid	$ 8	$ 50

Condensed Consolidated Balance Sheets (Parenthetical) - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Common Stock, Shares Authorized, Unlimited [Fixed List]	Unlimited	Unlimited
Common stock, shares issued (in shares)	376,258,707	381,592,969
Common stock, shares outstanding (in shares)	376,258,707	381,592,969

Property, Plant and Equipment, net (Tables)

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment, net

Property, plant and equipment, net consisted of the following:


	As of March 31, 2026		As of December 31, 2025
Cost
Land	$	7,183	$	7,245
Building and leasehold improvements	235,368		236,811
Machinery and Equipment	48,635		47,514
Furniture and fixtures	2,717		2,694
Construction in progress	363		1,062
Total Cost	294,266		295,326
Less: accumulated depreciation	(45,297)		(42,639)
Less: accumulated impairment charges	(106,867)		(106,822)
Property, Plant and Equipment, net	$	142,102	$	145,865

Investments (Tables)

3 Months Ended

Mar. 31, 2026

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Gain on Revaluation of Other Investments

The following tables summarize the Company’s other investments activity:


	As of December 31, 2025		Unrealized loss		Foreign exchange effect		As of March 31, 2026
Vitura	$	2,253	$	(888)	$	82	$	1,447
High Tide Warrant	5,411		(1,596)		(63)		3,752
	$	7,664	$	(2,484)	$	19	$	5,199


	As of December 31, 2024		Unrealized loss		Foreign exchange effect		As of March 31, 2025
Vitura	$	2,813	$	(68)	$	10	$	2,755
	$	2,813	$	(68)	$	10	$	2,755

Income per Share

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Income per Share

Basic and diluted income (loss) per share are calculated as follows (in thousands, except share and per share amounts):


	Three months ended March 31,
	2026		2025
Basic income per share computation
Net income attributable to the shareholders of Cronos Group	$	13,752	$	6,122
Weighted-average number of common shares outstanding for computation for basic income per share	379,374,109		382,958,797
Basic income per share	$	0.04	$	0.02







Diluted income per share computation
Net income attributable to the shareholders of Cronos Group	$	13,752	$	6,122



Weighted-average number of common shares outstanding used in the computation of basic income per share	379,374,109		382,958,797

Dilutive effect of stock options	4,223		—
Dilutive effect of RSUs	2,310,041		3,823,127

Dilutive effect of Top-up Rights – market price	110,915		181,761
Weighted-average number of common shares for computation of diluted income from continuing operations per share	381,799,288		386,963,685
Diluted income per share	$	0.04	$	0.02

For the three months ended March 31, 2026 and 2025, total securities of 1,288,578 and 18,273,597, respectively, were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive.

Loans Receivable, net (Tables)

3 Months Ended

Mar. 31, 2026

Receivables [Abstract]

Schedule of Loans Receivable

Loans receivable, net consists of the following:


	As of March 31, 2026		As of December 31, 2025
Current portion of Mucci Promissory Note accrued interest	$	128	$	—
Total current portion of loans receivable, net	128		—
High Tide Loan	9,235		9,185
Mucci Promissory Note	9,081		9,226
Cannasoul Collaboration Loan	1,993		1,972
Add: Long-term portion of accrued interest	494		464
Total long-term portion of loans receivable, net	20,803		20,847
Total loans receivable, net	$	20,931	$	20,847

Schedule of Expected Credit Loss Allowances

Expected credit loss allowances on the Company’s long-term financial assets for the three months ended March 31, 2026 and 2025 were comprised of the following items:


	As of December 31, 2025		Increase(i)		Foreign exchange effect		As of March 31, 2026
Mucci Promissory Note	$	59	$	1	$	(1)	$	59
Cannasoul Collaboration Loan	631		5		9		645
High Tide Loan	4,924		106		(79)		4,951
	$	5,614	$	112	$	(71)	$	5,655


	As of December 31, 2024		Increase(ii)		Foreign exchange effect		As of March 31, 2025
Mucci Promissory Note	88		5		—		93
Cannasoul Collaboration Loan	535		4		(10)		529
	$	623	$	9	$	(10)	$	622

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Share capital and additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)	Non-controlling interests
Beginning balance (in shares) at Dec. 31, 2024		382,530,780
Beginning balance at Dec. 31, 2024	$ 1,110,982	$ 669,879	$ 457,709	$ (63,525)	$ 46,919
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activities relating to share-based compensation (in shares)		2,875,615
Activities relating to share-based compensation	(858)	$ (843)	(15)
Net income	7,723		6,122		1,601
Foreign exchange loss on translation	(3,082)			(2,924)	(158)
Ending balance (in shares) at Mar. 31, 2025		385,406,395
Ending balance at Mar. 31, 2025	$ 1,114,765	$ 669,036	463,816	(66,449)	48,362
Beginning balance (in shares) at Dec. 31, 2025	381,592,969	381,592,969
Beginning balance at Dec. 31, 2025	$ 1,142,959	$ 662,983	447,756	(16,842)	49,062
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activities relating to share-based compensation (in shares)		1,031,438
Activities relating to share-based compensation	(181)	$ 787	(968)
Share repurchases (in shares)		(6,365,700)
Share repurchases	(16,730)	$ (16,730)
Net income	15,711		13,752		1,959
Foreign exchange loss on translation	$ (17,945)			(17,076)	(869)
Ending balance (in shares) at Mar. 31, 2026	376,258,707	376,258,707
Ending balance at Mar. 31, 2026	$ 1,123,814	$ 647,040	$ 460,540	$ (33,918)	$ 50,152

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

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+ Details

Income per Share (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Income (Loss) per Share

Basic and diluted income (loss) per share are calculated as follows (in thousands, except share and per share amounts):


	Three months ended March 31,
	2026		2025
Basic income per share computation
Net income attributable to the shareholders of Cronos Group	$	13,752	$	6,122
Weighted-average number of common shares outstanding for computation for basic income per share	379,374,109		382,958,797
Basic income per share	$	0.04	$	0.02







Diluted income per share computation
Net income attributable to the shareholders of Cronos Group	$	13,752	$	6,122



Weighted-average number of common shares outstanding used in the computation of basic income per share	379,374,109		382,958,797

Dilutive effect of stock options	4,223		—
Dilutive effect of RSUs	2,310,041		3,823,127

Dilutive effect of Top-up Rights – market price	110,915		181,761
Weighted-average number of common shares for computation of diluted income from continuing operations per share	381,799,288		386,963,685
Diluted income per share	$	0.04	$	0.02

Share-based Compensation - Summary of Changes in RSUs (Details) - RSUs - $ / shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Weighted-average grant date fair value
Balance at beginning of period (in dollars per share)	$ 2.85	$ 3.50
Granted (in dollars per share)	3.49	2.73
Vested and issued (in dollars per share)	2.66	4.00
Cancellation and forfeitures (in dollars per share)		3.47
Balance at end of period (in dollars per share)	$ 3.05	$ 2.86
Number of awards
Balance at beginning of period (in shares)	5,385,106	8,382,213
Granted (in shares)	1,507,369	1,775,668
Vested and issued (in shares)	(1,635,895)	(4,459,280)
Cancellation and forfeitures (in shares)		(134,999)
Balance at end of period (in shares)	5,256,580	5,563,602
Vesting period	3 years

Related Party Transactions - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Related Party Transaction [Line Items]
Accounts payable	$ 10,281,000		$ 11,640,000
Related party – purchases of products and services \| Related Party
Related Party Transaction [Line Items]
Accounts payable	248,000		208,000
Consulting Arrangement
Related Party Transaction [Line Items]
Transaction amount	437,000	$ 209,000
Consulting Arrangement \| Related Party
Related Party Transaction [Line Items]
Accounts payable	$ 0		$ 0
Consulting Arrangement \| Cronos GrowCo
Related Party Transaction [Line Items]
Ownership percentage	50.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2026
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Share Repurchase Authorization On May 8, 2026, the Board unanimously authorized a share repurchase program of up to $50,000, which is intended to succeed the Company’s existing share repurchase program upon its scheduled expiration on May 13, 2026. The share repurchase program is expected to commence on May 14, 2026, and terminate on May 13, 2027, unless earlier terminated. Repurchases under the program may be made from time to time, either through open market purchases at then-prevailing market prices through the facilities of the Nasdaq Global Market or other U.S. published markets, privately negotiated transactions or otherwise. Open market repurchases will be limited to 5% of the number of common shares outstanding as of the applicable measurement time, the maximum amount permitted by applicable Canadian securities laws. The timing and amount of repurchases are subject to market conditions, compliance with applicable laws and regulations and any other factors management of the Company may deem relevant. The program does not obligate Cronos to acquire any specific dollar amount or number of shares and may be modified, suspended, or discontinued at any time. The Company intends to fund repurchases using available cash resources. All shares repurchased under this program will be retired and cancelled upon settlement. As a result, the repurchased shares will be removed from issued and outstanding share capital, reducing the number of shares outstanding. The value of the retired shares will be charged against share capital and additional paid-in capital and, if necessary, to retained earnings, in accordance with ASC 505-30. Pending Acquisition On December 9, 2025, the Company entered into a definitive share sale and purchase agreement (the “SPA”) to acquire all of the issued and outstanding shares of CanAdelaar, one of ten licensed cannabis producers participating in the Dutch Controlled Cannabis Supply Chain Experiment. On May 8, 2026, the Company entered into an amendment to the SPA pursuant to which the parties agreed to extend the Long Stop Date (as defined in the SPA) for closing of the acquisition from June 9, 2026 to September 9, 2026. The extension provides additional time to satisfy certain closing conditions, including obtaining required regulatory clearances in the Netherlands, receipt of confirmations relating to CanAdelaar’s licenses and completion of the Bibob review (a background check conducted by Dutch authorities). No other material changes were made to the terms of the transaction.