The Canadian cannabis company reported revenue of C$5.6 million ($4.2 million) in the fourth quarter, up from $1.6 million a year ago. The company didn't provide a net profit or loss number for the quarter, but did say that its gross profit before fair value adjustments was C$2.5 million.
For the full year, the company reported a loss of 11 cents per share, after reporting a full-year profit of 1 cent a year earlier. That increase was driven by a jump in the amount of kilograms the company sold, though Cronos didn't specify how many kilos it sold.
Cronos reported full-year revenue of $15.7 million compared with $4.1 million a year earlier.
"We are proud of all we have accomplished in 2018 and in the fourth quarter. Over the past year, Cronos Group has diligently focused on our strategic objectives, which culminated in our transformative partnership with Altria Group Inc.," said Mike Gorenstein, CEO of Cronos Group. "We've expanded our production footprint domestically and internationally, developed our distribution with global partnerships, launched iconic brands for the Canadian adult-use market and grown our IP portfolio with landmark research and development initiatives."
Cronos shares were down more than 4% Tuesday, though year to date the stock has risen more than 97%.
Cronos is only followed by two analysts on Wall Street.
Will You Have Enough Money to Retire?
Want to learn about retirement planning from some of the nation's top experts? Join TheStreet's Robert "Mr. Retirement" Powell live in New York on April 6 for our Retirement Strategies Symposium. For a limited time, tickets are available for $99 for this full-day event. Check out the agenda, learn about the speakers and sign up here.