Cronos (CRON) 10-Q 9 May 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	May 06, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-38403
Entity Registrant Name	CRONOS GROUP INC.
Entity Incorporation, State or Country Code	Z4
Entity Address, Address Line One	111 Peter St. Suite 300
Entity Address, City or Town	Toronto
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	M5V 2H1
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)		382,011,178
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001656472
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 855,114	$ 669,291
Short-term investments	0	192,237
Accounts receivable, net	15,336	13,984
Interest receivable	3,864	10,012
Other receivables	5,919	6,341
Current portion of loans receivable, net	5,668	5,541
Inventory, net	30,639	30,495
Prepaids and other current assets	6,278	5,405
Held-for-sale assets	19,398	0
Total current assets	942,216	933,306
Equity method investments, net	20,521	19,488
Other investments	19,758	35,251
Non-current portion of loans receivable, net	66,545	69,036
Property, plant and equipment, net	37,171	59,468
Right-of-use assets	1,213	1,356
Goodwill	1,035	1,057
Intangible assets, net	20,018	21,078
Other assets	58	45
Total assets	1,108,535	1,140,085
Current liabilities
Accounts payable	9,401	12,130
Income taxes payable	73	64
Accrued liabilities	22,503	27,736
Current portion of lease obligation	958	994
Derivative liabilities	118	102
Current portion due to non-controlling interests	366	373
Total current liabilities	33,419	41,399
Non-current portion due to non-controlling interests	1,033	1,003
Non-current portion of lease obligation	1,305	1,559
Total liabilities	35,757	43,961
Shareholders’ equity
Share capital (authorized for issue as of March 31, 2024 and December 31, 2023: unlimited; shares outstanding as of March 31, 2024 and December 31, 2023: 382,011,178 and 381,298,853, respectively)	615,625	613,725
Additional paid-in capital	48,048	48,449
Retained earnings	414,478	416,719
Accumulated other comprehensive gain (loss)	(1,793)	20,678
Total equity attributable to shareholders of Cronos Group	1,076,358	1,099,571
Non-controlling interests	(3,580)	(3,447)
Total shareholders’ equity	1,072,778	1,096,124
Total liabilities and shareholders’ equity	$ 1,108,535	$ 1,140,085

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, shares issued (in shares)	382,011,178	381,298,853
Common stock, shares outstanding (in shares)	382,011,178	381,298,853

Condensed Consolidated Statemen

Condensed Consolidated Statements of Net Loss and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net revenue, before excise taxes	$ 35,367	$ 26,554
Excise taxes	(10,079)	(7,059)
Net revenue	25,288	19,495
Cost of sales	20,805	16,568
Gross profit	4,483	2,927
Operating expenses
Sales and marketing	5,332	5,741
Research and development	997	2,039
General and administrative	8,907	11,856
Restructuring costs	83	0
Share-based compensation	2,015	2,535
Depreciation and amortization	1,123	1,525
Impairment loss on long-lived assets	1,974	0
Total operating expenses	20,431	23,696
Operating loss	(15,948)	(20,769)
Other income
Interest income, net	14,245	11,175
Loss on revaluation of derivative liabilities	(18)	(65)
Share of income (loss) from equity method investments	1,448	(496)
Loss on revaluation of financial instruments	(2,642)	(7,758)
Impairment loss on other investments	(12,734)	0
Foreign currency transaction gain (loss)	13,259	(1,643)
Other, net	(652)	85
Total other income	12,906	1,298
Loss before income taxes	(3,042)	(19,471)
Income tax benefit	(558)	(1,436)
Loss from continuing operations	(2,484)	(18,035)
Loss from discontinued operations	0	(1,222)
Net loss	(2,484)	(19,257)
Net loss attributable to non-controlling interest	(243)	(88)
Net loss attributable to Cronos Group	(2,241)	(19,169)
Comprehensive loss
Net loss	(2,484)	(19,257)
Other comprehensive income (loss)
Foreign exchange gain (loss) on translation	(22,361)	2,414
Comprehensive loss	(24,845)	(16,843)
Comprehensive loss attributable to non-controlling interests	(133)	(8)
Comprehensive loss attributable to Cronos Group	$ (24,712)	$ (16,835)
Net loss per share
Basic - continuing operations (in dollars per share)	$ (0.01)	$ (0.05)
Diluted - continuing operations (in dollars per share)	(0.01)	(0.05)
Basic - discontinued operations (in dollars per share)	0	0
Diluted - discontinued operations (in dollars per share)	0	0
Basic - total (in dollars per share)	(0.01)	(0.05)
Diluted - total (in dollars per share)	$ (0.01)	$ (0.05)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Share capital	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)	Non-controlling interests
Beginning balance (in shares) at Dec. 31, 2022		380,575,403
Beginning balance at Dec. 31, 2022	$ 1,140,964	$ 611,318	$ 42,682	$ 490,682	$ (797)	$ (2,921)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activities relating to share-based compensation (in shares)		240,518
Activities relating to share-based compensation	2,279	$ 917	1,362
Net income (loss)	(19,257)			(19,169)		(88)
Foreign exchange gain on translation	2,414				2,334	80
Ending balance (in shares) at Mar. 31, 2023		380,815,921
Ending balance at Mar. 31, 2023	$ 1,126,400	$ 612,235	44,044	471,513	1,537	(2,929)
Beginning balance (in shares) at Dec. 31, 2023	381,298,853	381,298,853
Beginning balance at Dec. 31, 2023	$ 1,096,124	$ 613,725	48,449	416,719	20,678	(3,447)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Activities relating to share-based compensation (in shares)		712,325
Activities relating to share-based compensation	1,499	$ 1,900	(401)
Net income (loss)	(2,484)			(2,241)		(243)
Foreign exchange gain on translation	$ (22,361)				(22,471)	110
Ending balance (in shares) at Mar. 31, 2024	382,011,178	382,011,178
Ending balance at Mar. 31, 2024	$ 1,072,778	$ 615,625	$ 48,048	$ 414,478	$ (1,793)	$ (3,580)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities
Net income (loss)	$ (2,484)	$ (19,257)
Adjustments to reconcile net loss to cash used in operating activities:
Share-based compensation	2,015	2,551
Depreciation and amortization	1,731	2,405
Impairment loss on long-lived assets	1,974	0
Impairment loss on other investments	12,734	0
Loss from investments	894	8,419
Loss on revaluation of derivative liabilities	18	65
Changes in expected credit losses on long-term financial assets	(191)	(764)
Foreign currency transaction (gain) loss	(13,259)	1,643
Other non-cash operating activities, net	1,066	(2,850)
Changes in operating assets and liabilities:
Accounts receivable, net	(1,654)	8,201
Interest receivable	4,251	(1,953)
Other receivables	289	671
Prepaids and other current assets	(985)	(848)
Inventory	(777)	(6,824)
Accounts payable	(2,775)	1,555
Income taxes payable	11	(32,813)
Accrued liabilities	(5,062)	(7,894)
Cash flows used in operating activities	(2,204)	(47,693)
Investing activities
Purchase of short-term investments	0	(422,612)
Proceeds from short-term investments	188,872	113,355
Proceeds from repayment on loan receivables	2,678	6,249
Purchase of property, plant and equipment	(1,724)	(804)
Purchase of intangible assets	(270)	0
Cash flows provided by (used in) investing activities	189,556	(303,812)
Financing activities
Withholding taxes paid on share-based awards	(645)	(743)
Cash flows used in financing activities	(645)	(743)
Effect of foreign currency translation on cash and cash equivalents	(884)	1,271
Net change in cash and cash equivalents	185,823	(350,977)
Cash and cash equivalents, beginning of period	669,291	764,644
Cash and cash equivalents, end of period	855,114	413,667
Supplemental cash flow information
Interest paid	0	0
Interest received	14,641	7,558
Income taxes paid	$ 579	$ 32,932

Background, Basis of Presentati

Background, Basis of Presentation, and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background, Basis of Presentation, and Summary of Significant Accounting Policies	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 111 Peter St., Suite 300, Toronto, Ontario, M5V 2H1. The Company’s common shares are listed on the Toronto Stock Exchange (“TSX”) and Nasdaq Global Market (“Nasdaq”) under the ticker symbol “CRON.” Cronos is an innovative global cannabinoid company committed to building disruptive intellectual property by advancing cannabis research, technology and product development. 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 ® 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, 2024 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, 2023 (the “Annual Report”). Certain prior period amounts have been reclassified to conform to the current year presentation of our condensed consolidated interim financial statements. These reclassifications had no effect on the reported results of operations and ending shareholders’ equity. (c) Discontinued Operations In the second quarter of 2023, the Company exited its U.S. hemp-derived cannabinoid product operations. The exit of the U.S. operations represented a strategic shift that has a major effect on the Company’s operations and financial results, and as such, qualifies for reporting as discontinued operations in our condensed consolidated statements of net loss and comprehensive loss. Prior period amounts have been reclassified to reflect the discontinued operations classification of the U.S. operations. For more information, see Note 2 “ Discontinued Operations ”. (d) 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. Prior to the second quarter of 2023, the Company reported results for two reportable segments, the U.S. and Rest of World. In the second quarter of 2023, as a result of the Company’s exit of its then-existing U.S. operations, the Company 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 . All prior period segment disclosure information has been reclassified to conform to the current reporting structure in this Form 10-Q. These reclassifications had no effect on our consolidated financial statements in any period presented. (e) Revenue recognition The following tables present the Company’s revenue by major product category for continuing operations: Three months ended March 31, 2024 2023 Cannabis flower $ 17,525 $ 13,128 Cannabis extracts 7,727 6,301 Other 36 66 Net revenue $ 25,288 $ 19,495 Net revenue attributed to a geographic region based on the location of the customer were as follows for continuing operations: Three months ended March 31, 2024 2023 Canada $ 18,871 $ 14,434 Israel 6,417 5,061 Net revenue $ 25,288 $ 19,495 (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 $952,446 and $966,442 as of March 31, 2024 and December 31, 2023, 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, current conditions and forecasts of future economic conditions. Accounts receivable are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, amongst 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, 2024 and December 31, 2023, the Company had $15 and $3, respectively, in expected credit losses that have been recognized on receivables from contracts with customers. As of March 31, 2024, the Company assessed that there is a concentration of credit risk, as 40% of the Company’s accounts receivable were due from two customers with an established credit history with the Company. As of December 31, 2023, 37% 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 revenue. During the three months ended March 31, 2024, the Company earned a total net revenue before excise taxes of $21,866 from three major customers, together accounting for 62% of the Company’s total net revenues before excise taxes. During the three months ended March 31, 2023, the Company earned a total net revenue before excise taxes of $15,168 from two major customers, together accounting for 56% of the Company’s total net revenues before excise taxes. (g) New accounting pronouncements not yet adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). ASU 2023-07 enhances reportable segment disclosures by requiring disclosures such as significant segment expenses, information on the CODM and disclosures for entities with a single reportable segment. Additionally, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, and contain other disclosure requirements. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and we expect to adopt ASU 2023-07 retrospectively. The Company does not expect the adoption of ASU 2023-07 to have a material impact on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 enhances the existing income tax disclosures to provide additional information to better assess how an entity’s operations, related tax risks and tax planning, and operational opportunities affect its tax rate and prospects for future cash flows. ASU 2023-09 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and we expect to adopt ASU 2023-09 prospectively. The Company does not expect the adoption of ASU 2023-09 to have a material impact on its consolidated financial statements. (h) Adoption of new accounting pronouncements On January 1, 2024, the Company adopted ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”). ASU 2022-03 clarifies that a contractual restriction on the sale of an equity security is not considered in measuring fair value. The amendments also require additional disclosures for equity securities subject to contractual sale restrictions. The adoption of ASU 2022-03 did not have a material impact on the Company’s condensed consolidated interim financial statements. With respect to the adoption of ASU 2022-03, see Note 4 “Investments” for discussion of the contractual restrictions related to the PharmaCann Option (as defined below).

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations In the second quarter of 2023, the Company exited its then-existing U.S. hemp-derived cannabinoid product operations. Accordingly, the net loss of the U.S. operations for the three months ended March 31, 2023 are reported separately as loss from discontinued operations on the condensed consolidated statements of net loss and comprehensive loss. There was no activity in discontinued operations for the three months ended March 31, 2024. The following table presents the major components comprising loss from discontinued operations in the condensed consolidated statements of operations for the three months ended March 31, 2023: Three months ended March 31, 2023 Net revenue $ 649 Cost of sales 1,196 Gross profit (547) Operating expenses Sales and marketing 131 Research and development 2 General and administrative 523 Share-based compensation 16 Depreciation and amortization 8 Total operating expenses 680 Interest income 5 Total other income (loss) 5 Loss before income taxes (1,222) Income tax expense (benefit) — Net loss from discontinued operations $ (1,222) The following tables present the Company’s discontinued operations revenue by major product category: Three months ended March 31, 2023 Cannabis extracts 649 Net revenue $ 649 The Company had no assets or liabilities presented in the condensed consolidated balance sheets related to its discontinued operations as of both March 31, 2024 and December 31, 2023. For the three months ended March 31, 2024, there were no purchases of property plant and equipment related to discontinued operations. For the three months ended March 31, 2023, purchases of property plant and equipment related to discontinued operations were $67.

Inventory, net

Inventory, net	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventory, net	Inventory, net Inventory, net is comprised of the following items: As of March 31, 2024 As of December 31, 2023 Raw materials $ 3,486 $ 4,795 Work-in-progress 11,423 10,593 Finished goods 15,406 14,819 Supplies and consumables 324 288 Total $ 30,639 $ 30,495

Investments

Investments	3 Months Ended
	Mar. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Investments	Investments (a) Equity method investments, net A reconciliation of the carrying amount of the investments in equity method investees, net is as follows: Ownership interest As of March 31, 2024 As of December 31, 2023 Cronos Growing Company Inc. (“Cronos GrowCo”) 50% $ 20,521 $ 19,488 $ 20,521 $ 19,488 The following is a summary of the Company’s share of net income (losses) from equity investments accounted for under the equity method of accounting: For the three months ended March 31, 2024 2023 Cronos GrowCo $ 1,448 $ (496) $ 1,448 $ (496) (b) Other investments Other investments consist of investments in common shares and options of two companies in the cannabis industry. PharmaCann Option On June 14, 2021, the Company purchased an option (the “PharmaCann Option”) to acquire 473,787 shares of Class A Common Stock of PharmaCann, Inc. (“PharmaCann”), a vertically integrated cannabis company in the United States, at an exercise price of $0.0001 per share, representing approximately 10.5% of PharmaCann’s issued and outstanding capital stock on a fully diluted basis as of the date of the PharmaCann Option, for an aggregate purchase price of approximately $110,392. The PharmaCann Option is classified as an investment in an equity security without a readily determinable fair value. The Company measures the PharmaCann Option at cost less accumulated impairment charges, if any, and subsequently adjusted for observable price changes in orderly transactions for the identical or a similar investment of the same issuer. As of March 31, 2024 and December 31, 2023, based on updated information provided by PharmaCann in the first quarter, the Company’s ownership percentage in PharmaCann on a fully diluted basis was approximately 6.3% and 6.6%, respectively. The decrease in the Company’s ownership percentage since acquisition does not materially affect the Company’s rights under the PharmaCann Option. The PharmaCann Option is measured at fair value on a non-recurring basis and is a level 3 asset. See Note 10 “Fair Value Measurements” for more information on the fair value hierarchy. The PharmaCann Option is reported as Other investments on the consolidated balance sheet for the periods ended March 31, 2024 and December 31, 2023. During the first quarter of 2024, the Company identified adverse forecast changes in the financial performance of PharmaCann as an indicator of impairment related to the PharmaCann Option and conducted an analysis comparing the PharmaCann Option’s carrying amount to its estimated fair value. The fair value was estimated using the market approach. Under the market approach, the key assumptions are the selected multiples and the discount for lack of marketability. As a result of this analysis, the Company recorded a non-cash impairment charge of $12,734 in the first quarter of 2024 as the difference between the carrying amount of the PharmaCann Option and its estimated fair value, in the condensed consolidated statements of net loss and comprehensive loss for the three months ended March 31, 2024. The Company may sell, transfer or dispose of the PharmaCann Option without PharmaCann’s prior written consent, subject to the following conditions: (i) any transferee of any part of the PharmaCann Option must comply with and commit to comply with all regulations issued by a governmental entity applicable to such transferee in all material respects; (ii) any transferee of any part of the PharmaCann Option must agree to be bound by the terms of the Option Purchase Agreement, dated as of June 14, 2021 (the “Option Purchase Agreement”), as a “Purchaser” thereunder; (iii) the Company may not split and/or transfer the PharmaCann Option, in the aggregate, to more than four persons (with certain exceptions); (iv) no transferee may be a Prohibited Assignee (as defined in the Option Purchase Agreement); and (v) subject to certain exceptions, in the event that the Company (or a Permitted Transferee of the whole PharmaCann Option) transfers less than all of the PharmaCann Option to any third party that is not a Permitted Transferee, certain governance and information rights terminate immediately, unless waived by the PharmaCann board of directors in its sole and absolute discretion. Additionally, in the event of an initial underwritten public offering of PharmaCann’s common stock pursuant to an effective registration statement, to the extent that holders of PharmaCann common stock are subject to any lock-up period imposed by the underwriter in connection therewith, the Company will, if applicable, execute a customary lock-up agreement on the same material terms and conditions as the other holders of common stock are subject to or as otherwise agreed between PharmaCann and the Company, subject to certain conditions with respect to the duration of the lock-up period. Vitura Health Limited (formerly known as Cronos Australia) The Company owns approximately 10% of the outstanding common shares of Vitura Health Limited (“Vitura”). 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 loss and comprehensive loss. The following table summarizes the Company’s other investments activity: As of January 1, 2024 Unrealized loss Impairment charges Foreign exchange effect As of March 31, 2024 PharmaCann $ 25,650 $ — $ (12,734) $ — $ 12,916 Vitura 9,601 (2,342) — (417) 6,842 $ 35,251 $ (2,342) $ (12,734) $ (417) $ 19,758 As of January 1, 2023 Unrealized loss Impairment charges Foreign exchange effect As of March 31, 2023 PharmaCann $ 49,000 $ — $ — $ — $ 49,000 Vitura 21,993 (7,923) — (237) 13,833 $ 70,993 $ (7,923) $ — $ (237) $ 62,833

Loans Receivable, net

Loans Receivable, net	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Loans Receivable, net	Loans Receivable, net Loans receivable, net consists of the following: As of March 31, 2024 As of December 31, 2023 GrowCo Credit Facility $ 4,927 $ 5,034 Add: Current portion of accrued interest 741 507 Total current portion of loans receivable 5,668 5,541 GrowCo Credit Facility 51,459 53,638 Mucci Promissory Note 13,092 13,379 Cannasoul Collaboration Loan 1,732 1,771 Add: Long-term portion of accrued interest 262 248 Total long-term portion of loans receivable 66,545 69,036 Total loans receivable, net $ 72,213 $ 74,577 Cronos GrowCo Credit Facility On August 23, 2019, the Company, as lender, and Cronos GrowCo, as borrower, entered into a senior secured credit agreement for an aggregate principal amount of C$100,000 (the “GrowCo Credit Facility”). The GrowCo Credit Facility is secured by substantially all present and after-acquired personal and real property of Cronos GrowCo. In August 2021, the GrowCo Credit Facility was amended to increase the aggregate principal amount available to C$105,000. As of both March 31, 2024, and December 31, 2023, Cronos GrowCo had drawn C$104,000 ($76,855 and $78,532, respectively) from the GrowCo Credit Facility. The interest rate on the outstanding borrowings is the Canadian Prime Rate plus 1.25%, with interest payments due in December 2021, December 2022, and quarterly thereafter. Principal payments of C$1,000 commenced in March 2022 and are currently C$1,667, due quarterly. For the three months ended March 31, 2024, Cronos GrowCo repaid C$1,667 ($1,231) in principal and C$1,943 ($1,435) in interest related to the GrowCo Credit Facility. As of March 31, 2024, Cronos GrowCo had repaid an aggregate C$13,167 ($9,730) and C$22,464 ($16,601) in principal and interest, respectively, under the terms of the GrowCo Credit Facility. 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 $12,082) 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. 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. Prior to July 1, 2022, interest accrued on the Mucci Promissory Note was capitalized as part of the principal balance. As of July 1, 2022, interest was accrued and to be paid in cash beginning on July 1, 2023. Prior to 2023, there were no repayments of principal or interest on the Mucci Promissory Note. For the three months ended March 31, 2024 and 2023, there were no repayments of principal or interest on the Mucci Promissory Note. Cannasoul Collaboration Loan As of both March 31, 2024 and December 31, 2023, Cannasoul Lab Services Ltd. has received ILS 8,297 (approximately $2,249 and $2,294, respectively), from the Cannasoul Collaboration Loan. Expected credit loss allowances on the Company’s long-term financial assets for the three months ended March 31, 2024 and 2023 were comprised of the following items: As of January 1, 2024 Increase (decrease) (i) Foreign exchange effect As of March 31, 2024 GrowCo Credit Facility $ 11,176 $ (197) $ (239) $ 10,740 Mucci Promissory Note 89 2 (2) 89 Cannasoul Collaboration Loan 524 4 (10) 518 $ 11,789 $ (191) $ (251) $ 11,347 As of January 1, 2023 Increase (decrease) Foreign exchange effect As of March 31, 2023 GrowCo Credit Facility $ 12,455 $ (770) $ 34 $ 11,719 Mucci Promissory Note 89 2 — 91 Cannasoul Collaboration Loan 522 4 (12) 514 $ 13,066 $ (764) $ 22 $ 12,324 (i) During the three and months ended March 31, 2024, $191 was recorded as a decrease to general and administrative expenses on the condensed consolidated statements of net loss and comprehensive loss as a result of principal and interest payments made by Cronos GrowCo reducing our expected credit losses on loans receivable. During the three months ended March 31, 2023, $764 was recorded as a decrease to general and administrative expenses on the condensed consolidated statements of net loss and comprehensive loss as a result of adjustments to our expected credit losses.

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring	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 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, which are expected to result in the Company 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, while seeking to sell and lease back all or some of the Peace Naturals Campus or to lease certain portions of the Peace Naturals Campus to third parties. In the third quarter of 2023, the Board approved revisions to the Realignment to wind-down operations at its Winnipeg, Manitoba facility (“Cronos Fermentation”), list the Cronos Fermentation facility for sale, and implement additional organization-wide cost reductions as the Company continues its Realignment initiatives. The Realignment initiatives were intended to position the Company to drive profitable and sustainable growth over time. During the first quarter of 2024, the Company ceased operations at Cronos Fermentation and performed an assessment under ASC 360 of the recoverability of the carrying value of the Cronos Fermentation assets, and determined the carrying value of the assets was not fully recoverable. The fair value was estimated using a combination of the market and income approaches. As a result of this analysis, an impairment loss on long-lived assets of $1,631 was recorded to the condensed consolidated statements of net loss and comprehensive loss in the three months ended March 31, 2024. As of March 31, 2024, the assets of Cronos Fermentation met the held-for-sale criteria and were reclassified to assets held for sale on the condensed consolidated balance sheet and the assets were valued at their fair value less costs to sell. A $445 loss for estimated costs to sell was recorded as a result of the classification of the Cronos Fermentation assets as held for sale. During the three months ended March 31, 2024, the Company incurred $83 of restructuring costs in its continuing operations in connection with the Realignment. Charges related thereto include employee-related costs such as severance and other termination benefits, as well as other related costs. During the three months ended March 31, 2023, the Company recognized no restructuring costs in continuing operations in connection with the Realignment. The following table summarizes the Company’s restructuring activity for the three months ended March 31, 2024 and 2023: Accrual as of January 1, 2024 Expenses Payments/Write-offs Accrual as of March 31, 2024 Employee Termination Benefits $ 150 $ 62 $ (174) $ 38 Other Restructuring Costs — 21 (21) — Total $ 150 $ 83 $ (195) $ 38 Accrual as of January 1, 2023 Expenses Payments/Write-offs Accrual as of March 31, 2023 Employee Termination Benefits $ 403 $ — $ (295) $ 108 Other Restructuring Costs 21 — (21) — Total $ 424 $ — $ (316) $ 108

Share-based Compensation

Share-based Compensation	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	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 2018 Stock Option Plan dated June 28, 2018 (the “2018 Stock Option Plan”), the Employment Inducement Award Plan #1 (the “Employment Inducement Award Plan”), 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 Company can no longer make grants under the 2018 Stock Option Plan or the Employment Inducement Award Plan. The following table summarizes the total share-based compensation expense associated with the Company’s stock options and RSUs for the three months ended March 31, 2024 and 2023: For the three months ended March 31, 2024 2023 Stock options $ 34 $ 734 RSUs 1,981 1,801 Total share-based compensation $ 2,015 $ 2,535 (b) Stock options Vesting conditions for grants of options are determined by the Compensation Committee of the Company’s Board of Directors. The typical vesting for stock option grants made under the 2020 Omnibus Plan is annual vesting over three three The following is a summary of the changes in stock options for the three months ended March 31, 2024 and 2023: Weighted-average exercise price (C$) (i) Number of options Weighted-average remaining contractual term (years) Balance as of January 1, 2024 $ 14.50 2,103,201 1.84 Cancellation, forfeiture and expiry of options 23.93 (9,501) Balance as of March 31, 2024 $ 14.46 2,093,700 1.59 Exercisable as of March 31, 2024 $ 15.72 1,874,123 1.10 Weighted-average exercise price (C$) (i) Number of options Weighted-average remaining contractual term (years) Balance as of January 1, 2023 $ 10.57 5,350,600 0.73 Issuance of options 2.96 188,317 Cancellation, forfeiture and expiry of options 9.05 (335,091) Balance as of March 31, 2023 $ 10.40 5,203,826 0.75 Exercisable as of March 31, 2023 $ 11.88 3,624,498 0.48 (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, 2024 As of December 31, 2023 2020 Omnibus Plan 702,264 702,264 2018 Stock Option Plan 1,391,436 1,400,937 Total stock options outstanding 2,093,700 2,103,201 Restricted share units The following is a summary of the changes in RSUs for the three months ended March 31, 2024 and 2023: Weighted-average grant date fair value (C$) (ii) Number of RSUs Balance as of January 1, 2024 $ 3.77 7,381,541 Granted (i) 2.66 1,910,756 Vested and issued 3.52 (967,016) Cancellation and forfeitures 2.95 (65,662) Balance as of March 31, 2024 $ 3.55 8,259,619 Weighted-average grant date fair value (C$) (ii) Number of RSUs Balance as of January 1, 2023 $ 4.63 5,725,470 Granted (i) 2.74 1,927,487 Vested and issued 4.98 (345,433) Cancellation and forfeitures 4.19 (70,108) Balance as of March 31, 2023 $ 4.11 7,237,416 (i) RSUs granted in the period vest annually in equal installments over a three-year period from either the grant date or after a three (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, 2024 and 2023: Financial liability Number of DSUs Balance as of January 1, 2024 $ 1,092 521,679 Loss on revaluation 277 — Balance as of March 31, 2024 $ 1,369 521,679 Financial liability Number of DSUs Balance as of January 1, 2023 $ 674 265,732 Gain on revaluation (163) — Balance as of March 31, 2023 $ 511 265,732

Loss per Share

Loss per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Loss per Share	Loss per Share Basic and diluted loss per share from continuing and discontinued operations are calculated as follows (in thousands, except share and per share amounts): Three months ended March 31, 2024 2023 Basic loss per share computation Net loss from continuing operations attributable to the shareholders of Cronos Group $ (2,241) $ (19,169) Weighted-average number of common shares outstanding for computation for basic and diluted earnings per share (i) 381,442,597 380,634,208 Basic loss from continuing operations per share $ (0.01) $ (0.05) Diluted loss per share from continuing operations $ (0.01) $ (0.05) Loss from discontinued operations attributable to the shareholders of Cronos Group $ — $ (1,222) Weighted-average number of common shares outstanding for computation for basic and diluted earnings per share (i) 381,442,597 380,634,208 Basic loss from discontinued operations per share $ — $ — Diluted loss from discontinued operations per share $ — $ — (i) In computing diluted loss per share, incremental common shares are not considered in periods in which a net loss is reported as the inclusion of the common share equivalents would be anti-dilutive. For the three months ended March 31, 2024 and 2023, total securities of 24,580,665 and 30,086,428, respectively, were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
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 financial condition but could be material to its results of operations for a quarterly period depending, in part, on its results for that quarter. (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 revenues 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. The reconsideration motion is pending. 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 revenues 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 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. 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) is 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. 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. The Company is responding to requests for information from the Ministry. The Company cannot predict the outcome of the investigation. We expect litigation and regulatory proceedings relating to the marketing, distribution, import and sale of our products to increase.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Risks and Uncertainties [Abstract]
Fair Value Measurements	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, 2024 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 855,114 $ — $ — $ 855,114 Other investments (i) 6,842 — — 6,842 Derivative liabilities — — 118 118 December 31, 2023 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 669,291 $ — $ — $ 669,291 Short-term investments 192,237 — — 192,237 Other investments (i) 9,601 — — 9,601 Derivative liabilities — — 102 102 (i) As of March 31, 2024 and December 31, 2023, 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 4 “ Investments ” for additional information. There were no transfers between fair value categories during the periods presented. The following tables present information about the Company’s assets that are measured at fair value on a non-recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value: As of March 31, 2024 Level 1 Level 2 Level 3 Total Other investments (i) $ — $ — $ 12,916 $ 12,916 As of December 31, 2023 Level 1 Level 2 Level 3 Total Other investments (i) $ — $ — $ 25,650 $ 25,650 (i) On June 14, 2021, the Company purchased an option to acquire 473,787 shares of Class A Common Stock of PharmaCann, a vertically integrated cannabis company in the United States, at an exercise price of $0.0001 per share, representing approximately 10.5% of PharmaCann’s issued and outstanding capital stock on a fully diluted basis as of the date of the PharmaCann Option, for an aggregate purchase price of approximately $110,392. As of March 31, 2024 and December 31, 2023, based on updated information provided by PharmaCann in the first quarter, the Company’s ownership percentage in PharmaCann on a fully diluted basis was approximately 6.3% and 6.6%. See Note 4 “ Investments .” There were no transfers between fair value categories during the periods presented.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions (a) Cronos GrowCo The Company holds a variable interest in Cronos GrowCo through its ownership of 50% of Cronos GrowCo’s common shares and senior secured debt in Cronos GrowCo. See Note 4 “ Investments ” for additional information. The Company made the following purchases of cannabis products from Cronos GrowCo: Three months ended March 31, 2024 2023 Cronos GrowCo – purchases $ 7,010 $ 7,466 As of March 31, 2024, and December 31, 2023, the Company had payables outstanding to Cronos GrowCo of $1,501 and $2,267, respectively. During the third quarter of 2023, the Company, as supplier, entered into a cannabis germplasm supply agreement with Cronos GrowCo as buyer. During the three months ended March 31, 2024, the Company received $361 in relation to this agreement. Additionally, on August 23, 2019, the Company, as lender, and Cronos GrowCo, as borrower, entered into the GrowCo Facility. See Note 5 “ Loans Receivable, net ” for additional information. (b) 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. The Company purchased $833 of products and services under this subcontracted agreement for the three months ended March 31, 2023. The Company had $0 and $28 in outstanding payables related to the subcontracted agreement as of March 31, 2024 and December 31, 2023, respectively. In November 2023, the Company negotiated a direct contract with the related-party vendor. During the three months ended March 31, 2024, the Company purchased $772 of products and services under this agreement and had outstanding accounts payable related to the agreement of $134 and $11 as of March 31, 2024 and December 31, 2023, respectively.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events (a) Held-for-sale Classification of Peace Naturals Campus On November 27, 2023, the Company announced that Peace Naturals had entered into an agreement (the “Sale Agreement”) with Future Farmco Canada Inc. (“Future Farmco”) for the sale and leaseback of the Peace Naturals Campus. Pursuant to the terms of the Sale Agreement, Future Farmco has agreed to acquire the Peace Naturals Campus for an aggregate purchase price of C$23 million cash, subject to the terms and conditions set forth therein. At closing, the parties expect to enter into a lease agreement with respect to portions of the Peace Naturals Campus. In April 2024, the Company completed the activities required for the Peace Naturals Campus to be considered immediately available for sale, and therefore the underlying assets were reclassified to held-for-sale at that time.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ (2,241)	$ (19,169)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
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

Background, Basis of Presenta_2

Background, Basis of Presentation, and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
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, 2024 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, 2023 (the “Annual Report”). Certain prior period amounts have been reclassified to conform to the current year presentation of our condensed consolidated interim financial statements. These reclassifications had no effect on the reported results of operations and ending shareholders’ equity.
Discontinued Operations	Discontinued Operations In the second quarter of 2023, the Company exited its U.S. hemp-derived cannabinoid product operations. The exit of the U.S. operations represented a strategic shift that has a major effect on the Company’s operations and financial results, and as such, qualifies for reporting as discontinued operations in our condensed consolidated statements of net loss and comprehensive loss. Prior period amounts have been reclassified to reflect the discontinued operations classification of the U.S. operations. For more information, see Note 2 “ Discontinued Operations ”.
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. Prior to the second quarter of 2023, the Company reported results for two reportable segments, the U.S. and Rest of World. In the second quarter of 2023, as a result of the Company’s exit of its then-existing U.S. operations, the Company 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 . All prior period segment disclosure information has been reclassified to conform to the current reporting structure in this Form 10-Q. These reclassifications had no effect on our consolidated financial statements in any period presented.
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 $952,446 and $966,442 as of March 31, 2024 and December 31, 2023, respectively.
New accounting pronouncement not yet adopted and Adoption of new accounting pronouncements	New accounting pronouncements not yet adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). ASU 2023-07 enhances reportable segment disclosures by requiring disclosures such as significant segment expenses, information on the CODM and disclosures for entities with a single reportable segment. Additionally, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, and contain other disclosure requirements. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and we expect to adopt ASU 2023-07 retrospectively. The Company does not expect the adoption of ASU 2023-07 to have a material impact on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 enhances the existing income tax disclosures to provide additional information to better assess how an entity’s operations, related tax risks and tax planning, and operational opportunities affect its tax rate and prospects for future cash flows. ASU 2023-09 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and we expect to adopt ASU 2023-09 prospectively. The Company does not expect the adoption of ASU 2023-09 to have a material impact on its consolidated financial statements. (h) Adoption of new accounting pronouncements On January 1, 2024, the Company adopted ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”). ASU 2022-03 clarifies that a contractual restriction on the sale of an equity security is not considered in measuring fair value. The amendments also require additional disclosures for equity securities subject to contractual sale restrictions. The adoption of ASU 2022-03 did not have a material impact on the Company’s condensed consolidated interim financial statements. With respect to the adoption of ASU 2022-03, see Note 4 “Investments” for discussion of the contractual restrictions related to the PharmaCann Option (as defined below).

Background, Basis of Presenta_3

Background, Basis of Presentation, and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Revenue by Major Product Category	The following tables present the Company’s revenue by major product category for continuing operations: Three months ended March 31, 2024 2023 Cannabis flower $ 17,525 $ 13,128 Cannabis extracts 7,727 6,301 Other 36 66 Net revenue $ 25,288 $ 19,495
Schedule of Revenue from External Customers by Geographic Areas	Net revenue attributed to a geographic region based on the location of the customer were as follows for continuing operations: Three months ended March 31, 2024 2023 Canada $ 18,871 $ 14,434 Israel 6,417 5,061 Net revenue $ 25,288 $ 19,495

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]
Summary of Financial Information for Discontinued Operations	The following table presents the major components comprising loss from discontinued operations in the condensed consolidated statements of operations for the three months ended March 31, 2023: Three months ended March 31, 2023 Net revenue $ 649 Cost of sales 1,196 Gross profit (547) Operating expenses Sales and marketing 131 Research and development 2 General and administrative 523 Share-based compensation 16 Depreciation and amortization 8 Total operating expenses 680 Interest income 5 Total other income (loss) 5 Loss before income taxes (1,222) Income tax expense (benefit) — Net loss from discontinued operations $ (1,222) The following tables present the Company’s discontinued operations revenue by major product category: Three months ended March 31, 2023 Cannabis extracts 649 Net revenue $ 649

Inventory, net (Tables)

Inventory, net (Tables)	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory, net	Inventory, net is comprised of the following items: As of March 31, 2024 As of December 31, 2023 Raw materials $ 3,486 $ 4,795 Work-in-progress 11,423 10,593 Finished goods 15,406 14,819 Supplies and consumables 324 288 Total $ 30,639 $ 30,495

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Investments in Associates and Joint Ventures	A reconciliation of the carrying amount of the investments in equity method investees, net is as follows: Ownership interest As of March 31, 2024 As of December 31, 2023 Cronos Growing Company Inc. (“Cronos GrowCo”) 50% $ 20,521 $ 19,488 $ 20,521 $ 19,488 The following is a summary of the Company’s share of net income (losses) from equity investments accounted for under the equity method of accounting: For the three months ended March 31, 2024 2023 Cronos GrowCo $ 1,448 $ (496) $ 1,448 $ (496)
Summary of Gain on Revaluation of Other Investments	The following table summarizes the Company’s other investments activity: As of January 1, 2024 Unrealized loss Impairment charges Foreign exchange effect As of March 31, 2024 PharmaCann $ 25,650 $ — $ (12,734) $ — $ 12,916 Vitura 9,601 (2,342) — (417) 6,842 $ 35,251 $ (2,342) $ (12,734) $ (417) $ 19,758 As of January 1, 2023 Unrealized loss Impairment charges Foreign exchange effect As of March 31, 2023 PharmaCann $ 49,000 $ — $ — $ — $ 49,000 Vitura 21,993 (7,923) — (237) 13,833 $ 70,993 $ (7,923) $ — $ (237) $ 62,833

Loans Receivable, net (Tables)

Loans Receivable, net (Tables)	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Schedule of Loans Receivable	Loans receivable, net consists of the following: As of March 31, 2024 As of December 31, 2023 GrowCo Credit Facility $ 4,927 $ 5,034 Add: Current portion of accrued interest 741 507 Total current portion of loans receivable 5,668 5,541 GrowCo Credit Facility 51,459 53,638 Mucci Promissory Note 13,092 13,379 Cannasoul Collaboration Loan 1,732 1,771 Add: Long-term portion of accrued interest 262 248 Total long-term portion of loans receivable 66,545 69,036 Total loans receivable, net $ 72,213 $ 74,577
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, 2024 and 2023 were comprised of the following items: As of January 1, 2024 Increase (decrease) (i) Foreign exchange effect As of March 31, 2024 GrowCo Credit Facility $ 11,176 $ (197) $ (239) $ 10,740 Mucci Promissory Note 89 2 (2) 89 Cannasoul Collaboration Loan 524 4 (10) 518 $ 11,789 $ (191) $ (251) $ 11,347 As of January 1, 2023 Increase (decrease) Foreign exchange effect As of March 31, 2023 GrowCo Credit Facility $ 12,455 $ (770) $ 34 $ 11,719 Mucci Promissory Note 89 2 — 91 Cannasoul Collaboration Loan 522 4 (12) 514 $ 13,066 $ (764) $ 22 $ 12,324 (i) During the three and months ended March 31, 2024, $191 was recorded as a decrease to general and administrative expenses on the condensed consolidated statements of net loss and comprehensive loss as a result of principal and interest payments made by Cronos GrowCo reducing our expected credit losses on loans receivable. During the three months ended March 31, 2023, $764 was recorded as a decrease to general and administrative expenses on the condensed consolidated statements of net loss and comprehensive loss as a result of adjustments to our expected credit losses.

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Plan Information and Restructuring-Related Costs	The following table summarizes the Company’s restructuring activity for the three months ended March 31, 2024 and 2023: Accrual as of January 1, 2024 Expenses Payments/Write-offs Accrual as of March 31, 2024 Employee Termination Benefits $ 150 $ 62 $ (174) $ 38 Other Restructuring Costs — 21 (21) — Total $ 150 $ 83 $ (195) $ 38 Accrual as of January 1, 2023 Expenses Payments/Write-offs Accrual as of March 31, 2023 Employee Termination Benefits $ 403 $ — $ (295) $ 108 Other Restructuring Costs 21 — (21) — Total $ 424 $ — $ (316) $ 108

Share-based Compensation (Table

Share-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Stock-based Compensation Expense	The following table summarizes the total share-based compensation expense associated with the Company’s stock options and RSUs for the three months ended March 31, 2024 and 2023: For the three months ended March 31, 2024 2023 Stock options $ 34 $ 734 RSUs 1,981 1,801 Total share-based compensation $ 2,015 $ 2,535
Summary 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, 2024 and 2023: Weighted-average exercise price (C$) (i) Number of options Weighted-average remaining contractual term (years) Balance as of January 1, 2024 $ 14.50 2,103,201 1.84 Cancellation, forfeiture and expiry of options 23.93 (9,501) Balance as of March 31, 2024 $ 14.46 2,093,700 1.59 Exercisable as of March 31, 2024 $ 15.72 1,874,123 1.10 Weighted-average exercise price (C$) (i) Number of options Weighted-average remaining contractual term (years) Balance as of January 1, 2023 $ 10.57 5,350,600 0.73 Issuance of options 2.96 188,317 Cancellation, forfeiture and expiry of options 9.05 (335,091) Balance as of March 31, 2023 $ 10.40 5,203,826 0.75 Exercisable as of March 31, 2023 $ 11.88 3,624,498 0.48 (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, 2024 As of December 31, 2023 2020 Omnibus Plan 702,264 702,264 2018 Stock Option Plan 1,391,436 1,400,937 Total stock options outstanding 2,093,700 2,103,201
Summary of Changes in RSUs	The following is a summary of the changes in RSUs for the three months ended March 31, 2024 and 2023: Weighted-average grant date fair value (C$) (ii) Number of RSUs Balance as of January 1, 2024 $ 3.77 7,381,541 Granted (i) 2.66 1,910,756 Vested and issued 3.52 (967,016) Cancellation and forfeitures 2.95 (65,662) Balance as of March 31, 2024 $ 3.55 8,259,619 Weighted-average grant date fair value (C$) (ii) Number of RSUs Balance as of January 1, 2023 $ 4.63 5,725,470 Granted (i) 2.74 1,927,487 Vested and issued 4.98 (345,433) Cancellation and forfeitures 4.19 (70,108) Balance as of March 31, 2023 $ 4.11 7,237,416 (i) RSUs granted in the period vest annually in equal installments over a three-year period from either the grant date or after a three (ii)
Summary of Changes in DSUs and Warrants	The following is a summary of the changes in DSUs for the three months ended March 31, 2024 and 2023: Financial liability Number of DSUs Balance as of January 1, 2024 $ 1,092 521,679 Loss on revaluation 277 — Balance as of March 31, 2024 $ 1,369 521,679 Financial liability Number of DSUs Balance as of January 1, 2023 $ 674 265,732 Gain on revaluation (163) — Balance as of March 31, 2023 $ 511 265,732

Loss per Share (Tables)

Loss per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings (Loss) Per Share	Basic and diluted loss per share from continuing and discontinued operations are calculated as follows (in thousands, except share and per share amounts): Three months ended March 31, 2024 2023 Basic loss per share computation Net loss from continuing operations attributable to the shareholders of Cronos Group $ (2,241) $ (19,169) Weighted-average number of common shares outstanding for computation for basic and diluted earnings per share (i) 381,442,597 380,634,208 Basic loss from continuing operations per share $ (0.01) $ (0.05) Diluted loss per share from continuing operations $ (0.01) $ (0.05) Loss from discontinued operations attributable to the shareholders of Cronos Group $ — $ (1,222) Weighted-average number of common shares outstanding for computation for basic and diluted earnings per share (i) 381,442,597 380,634,208 Basic loss from discontinued operations per share $ — $ — Diluted loss from discontinued operations per share $ — $ — (i) In computing diluted loss per share, incremental common shares are not considered in periods in which a net loss is reported as the inclusion of the common share equivalents would be anti-dilutive.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Risks and Uncertainties [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, 2024 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 855,114 $ — $ — $ 855,114 Other investments (i) 6,842 — — 6,842 Derivative liabilities — — 118 118 December 31, 2023 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 669,291 $ — $ — $ 669,291 Short-term investments 192,237 — — 192,237 Other investments (i) 9,601 — — 9,601 Derivative liabilities — — 102 102 (i) As of March 31, 2024 and December 31, 2023, 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 4 “ Investments ” for additional information.
Schedule of Fair Value of Assets Measured on Nonrecurring Basis	The following tables present information about the Company’s assets that are measured at fair value on a non-recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value: As of March 31, 2024 Level 1 Level 2 Level 3 Total Other investments (i) $ — $ — $ 12,916 $ 12,916 As of December 31, 2023 Level 1 Level 2 Level 3 Total Other investments (i) $ — $ — $ 25,650 $ 25,650 (i) On June 14, 2021, the Company purchased an option to acquire 473,787 shares of Class A Common Stock of PharmaCann, a vertically integrated cannabis company in the United States, at an exercise price of $0.0001 per share, representing approximately 10.5% of PharmaCann’s issued and outstanding capital stock on a fully diluted basis as of the date of the PharmaCann Option, for an aggregate purchase price of approximately $110,392. As of March 31, 2024 and December 31, 2023, based on updated information provided by PharmaCann in the first quarter, the Company’s ownership percentage in PharmaCann on a fully diluted basis was approximately 6.3% and 6.6%. See Note 4 “ Investments .”

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The Company made the following purchases of cannabis products from Cronos GrowCo: Three months ended March 31, 2024 2023 Cronos GrowCo – purchases $ 7,010 $ 7,466

Background, Basis of Presenta_4

Background, Basis of Presentation, and Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2024 USD ($)	Jun. 30, 2023 segment	Mar. 31, 2023 USD ($) segment	Dec. 31, 2023 USD ($)
Concentration Risk [Line Items]
Number of reportable segments | segment		1	2
Number of operating segments | segment		1
Maximum exposure to credit risk	$ 952,446			$ 966,442
Current expected credit loss allowance on accounts receivable	15			$ 3
Net revenue, before excise taxes	35,367		$ 26,554
Three Major Customers
Concentration Risk [Line Items]
Net revenue, before excise taxes	$ 21,866
Accounts Receivable | Two Customers | Credit Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	40%
Accounts Receivable | One Customer | Credit Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage				37%
Revenue Benchmark | Three Major Customers | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	62%
Revenue Benchmark | Two Major Customers | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage			56%
Net revenue, before excise taxes			$ 15,168

Background, Basis of Presenta_5

Background, Basis of Presentation, and Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Net revenue	$ 25,288	$ 19,495
Canada
Segment Reporting Information [Line Items]
Net revenue	18,871	14,434
Israel
Segment Reporting Information [Line Items]
Net revenue	6,417	5,061
Cannabis flower
Segment Reporting Information [Line Items]
Net revenue	17,525	13,128
Cannabis extracts
Segment Reporting Information [Line Items]
Net revenue	7,727	6,301
Other
Segment Reporting Information [Line Items]
Net revenue	$ 36	$ 66

Discontinued Operations - Major

Discontinued Operations - Major Components Comprising Loss from Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating expenses
Net loss from discontinued operations	$ 0	$ (1,222)
Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations, Abandonment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue		649
Cost of sales		1,196
Gross profit		(547)
Operating expenses
Sales and marketing		131
Research and development		2
General and administrative		523
Share-based compensation		16
Depreciation and amortization		8
Total operating expenses		680
Interest income		5
Total other income (loss)		5
Loss before income taxes		(1,222)
Income tax expense (benefit)		0
Net loss from discontinued operations		$ (1,222)

Discontinued Operations - Reven

Discontinued Operations - Revenue by Major Product Category (Details) - Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations, Abandonment $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue	$ 649
Cannabis extracts
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue	$ 649

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase of property, plant and equipment	$ 1,724	$ 804
Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations, Abandonment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase of property, plant and equipment	$ 0	$ 67

Inventory, net (Details)

Inventory, net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 3,486	$ 4,795
Work-in-progress	11,423	10,593
Finished goods	15,406	14,819
Supplies and consumables	324	288
Inventory, net	$ 30,639	$ 30,495

Investments - Schedule of Inves

Investments - Schedule of Investments in Associates and Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Equity method investments, net	$ 20,521		$ 19,488
Share of income (loss) from equity method investments	$ 1,448	$ (496)
Cronos GrowCo
Schedule of Equity Method Investments [Line Items]
Ownership interest	50%
Equity method investments, net	$ 20,521		$ 19,488
Share of income (loss) from equity method investments	$ 1,448	$ (496)

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Jun. 14, 2021	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Variable Interest Entity [Line Items]
Sale of stock, price per share (in dollars per share)	$ 0.0001
Sale of stock, percentage of ownership after transaction	10.50%
Purchase of other investments	$ 110,392
Impairment loss on other investments		$ 12,734	$ 0
Vitura
Variable Interest Entity [Line Items]
Impairment loss on other investments		0	0
PharmaCann
Variable Interest Entity [Line Items]
Impairment loss on other investments		$ 12,734	$ 0
PharmaCann
Variable Interest Entity [Line Items]
Ownership interest		6.30%		6.60%
Vitura
Variable Interest Entity [Line Items]
Ownership interest		10%
PharmaCann
Variable Interest Entity [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	473,787

Investments - Revaluation of Ot

Investments - Revaluation of Other Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Other Investments [Roll Forward]
Other investments, beginning balance	$ 35,251	$ 70,993
Unrealized loss	(2,342)	(7,923)
Impairment charges	(12,734)	0
Foreign exchange effect	(417)	(237)
Other investments, ending balance	19,758	62,833
PharmaCann
Other Investments [Roll Forward]
Other investments, beginning balance	25,650	49,000
Unrealized loss	0	0
Impairment charges	(12,734)	0
Foreign exchange effect	0	0
Other investments, ending balance	12,916	49,000
Vitura
Other Investments [Roll Forward]
Other investments, beginning balance	9,601	21,993
Unrealized loss	(2,342)	(7,923)
Impairment charges	0	0
Foreign exchange effect	(417)	(237)
Other investments, ending balance	$ 6,842	$ 13,833

Loans Receivable, net - Schedul

Loans Receivable, net - Schedule of Loan Receivable (Details) ₪ in Thousands, $ in Thousands	3 Months Ended				12 Months Ended		55 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2024 CAD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2023 CAD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CAD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2024 CAD ($)	Mar. 31, 2024 CAD ($)	Mar. 31, 2024 ILS (₪)	Dec. 31, 2023 ILS (₪)	Sep. 30, 2022	Mar. 31, 2022 CAD ($)	Aug. 31, 2021 CAD ($)	Aug. 23, 2019 CAD ($)	Jun. 28, 2019 USD ($)	Jun. 28, 2019 CAD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total current portion of loans receivable	$ 5,668				$ 5,541		$ 5,668
Total long-term portion of loans receivable	66,545				69,036		66,545
Total loans receivable, net	72,213				74,577		72,213
Proceeds from repayment on loan receivables	2,678		$ 6,249
Loans Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Add: Current portion of accrued interest	741				507		741
Add: Long-term portion of accrued interest	262				248		262
Loans Receivable | GrowCo Credit Facility
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current portion of loans receivable, before accrued interest	4,927				5,034		4,927
Long term portion of loans receivable, before accrued interest	51,459				53,638		51,459
Face amount														$ 105,000,000	$ 100,000,000
Draw downs	76,855	$ 104,000,000			78,532	$ 104,000,000
Quarterly payment									$ 1,667,000				$ 1,000,000
Proceeds from repayment on loan receivables	1,231	1,667,000					9,730	$ 13,167,000
Proceeds from interest on loan receivables	$ 1,435	1,943,000					$ 16,601	$ 22,464,000
Loans Receivable | GrowCo Credit Facility | Canadian Prime Rate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Basis spread on interest rate	1.25%						1.25%		1.25%	1.25%
Loans Receivable | Mucci Promissory Note
Accounts, Notes, Loans and Financing Receivable [Line Items]
Long term portion of loans receivable, before accrued interest	$ 13,092				13,379		$ 13,092
Face amount																$ 12,082	$ 16,350,000
Proceeds from interest on loan receivables		0		$ 0
Stated interest rate																3.95%	3.95%
Proceeds from repayment on loan outstanding principal		$ 0		$ 0
Loans Receivable | Mucci Promissory Note | Canadian Prime Rate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Basis spread on interest rate												1.25%
Loans Receivable | Cannasoul Collaboration Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Long term portion of loans receivable, before accrued interest	1,732				1,771		1,732
Loans Receivable | Cannasoul Collaboration Loan | Establishment of a Commercial Cannabis Analytical Testing Laboratory | Cannasoul | Variable Interest Entity, Not Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collaborative arrangement, installment received	$ 2,249				$ 2,294		$ 2,249			₪ 8,297	₪ 8,297

Loans Receivable, net - Sched_2

Loans Receivable, net - Schedule of Expected Credit Loss Allowances (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 11,789	$ 13,066
Increase (decrease)	(191)	(764)
Foreign exchange effect	(251)	22
Ending balance	11,347	12,324
GrowCo Credit Facility | Loans Receivable
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	11,176	12,455
Increase (decrease)	(197)	(770)
Foreign exchange effect	(239)	34
Ending balance	10,740	11,719
Mucci Promissory Note | Loans Receivable
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	89	89
Increase (decrease)	2	2
Foreign exchange effect	(2)	0
Ending balance	89	91
Cannasoul Collaboration Loan | Loans Receivable
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	524	522
Increase (decrease)	4	4
Foreign exchange effect	(10)	(12)
Ending balance	$ 518	$ 514

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 83	$ 0
Discontinued Operations, Held-for-sale | Cronos Fermentation
Restructuring Cost and Reserve [Line Items]
Loss on write-down of assets	445
Realignment
Restructuring Cost and Reserve [Line Items]
Impairment loss on long-lived assets	1,631
Restructuring costs	$ 83	$ 0

Restructuring - Restructuring A

Restructuring - Restructuring Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restructuring Reserve [Roll Forward]
Expenses	$ 83	$ 0
Realignment
Restructuring Reserve [Roll Forward]
Accrual, Beginning Balance	150	424
Expenses	83	0
Payments/Write-offs	(195)	(316)
Accrual, Ending Balance	38	108
Employee termination benefits | Realignment
Restructuring Reserve [Roll Forward]
Accrual, Beginning Balance	150	403
Expenses	62	0
Payments/Write-offs	(174)	(295)
Accrual, Ending Balance	38	108
Other restructuring costs | Realignment
Restructuring Reserve [Roll Forward]
Accrual, Beginning Balance	0	21
Expenses	21	0
Payments/Write-offs	(21)	(21)
Accrual, Ending Balance	$ 0	$ 0

Share-based Compensation - Summ

Share-based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	$ 2,015	$ 2,535
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	34	734
Restricted share units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	$ 1,981	$ 1,801

Share-based Compensation - Stoc

Share-based Compensation - Stock Options Narrative (Details) - Stock options	3 Months Ended
	Mar. 31, 2024
2020 Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
2018 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	7 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

Share-based Compensation - Su_2

Share-based Compensation - Summary of the Changes in Options (Details) - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Weighted average exercise price
Balance at beginning of period (in dollars per share)	$ 14.50	$ 10.57	$ 10.57
Issuance of options (in dollars per share)		2.96
Cancellation, forfeiture and expiry of options (in dollars per share)	23.93	9.05
Balance at end of period (in dollars per share)	14.46	10.40	$ 14.50	$ 10.57
Weighted average exercise price of options exercisable (in dollars per share)	$ 15.72	$ 11.88
Number of options
Balance at beginning of period (in shares)	2,103,201	5,350,600	5,350,600
Issuance of options (in shares)		188,317
Cancellation, forfeiture and expiry of options (in shares)	(9,501)	(335,091)
Balance at end of period (in shares)	2,093,700	5,203,826	2,103,201	5,350,600
Exercisable (in shares)	1,874,123	3,624,498
Weighted-average remaining contractual term (years)
Outstanding	1 year 7 months 2 days	9 months	1 year 10 months 2 days	8 months 23 days
Exercisable	1 year 1 month 6 days	5 months 23 days

Share-based Compensation - Sche

Share-based Compensation - Schedule of Stock Options Outstanding (Details) - shares	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding (in shares)	2,093,700	2,103,201	5,203,826	5,350,600
2020 Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding (in shares)	702,264	702,264
2018 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options outstanding (in shares)	1,391,436	1,400,937

Share-based Compensation - Su_3

Share-based Compensation - Summary of Changes in RSUs (Details) - Restricted share units - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Weighted-average grant date fair value
Balance at beginning of period (in dollars per share)	$ 3.77	$ 4.63
Granted (in dollars per share)	2.66	2.74
Vested and issued (in dollars per share)	3.52	4.98
Cancellation and forfeitures (in dollars per share)	2.95	4.19
Balance at end of period (in dollars per share)	$ 3.55	$ 4.11
Number of awards
Balance at beginning of period (in shares)	7,381,541	5,725,470
Granted (in shares)	1,910,756	1,927,487
Vested and issued (in shares)	(967,016)	(345,433)
Cancellation and forfeitures (in shares)	(65,662)	(70,108)
Balance at end of period (in shares)	8,259,619	7,237,416
Vesting period	3 years
Minimum
Number of awards
Cliff period	3 years
Maximum
Number of awards
Cliff period	5 years

Share-based Compensation - Su_4

Share-based Compensation - Summary of DSU Activity (Details) - Deferred Share Units (DSUs) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financial liability
Balance at beginning of period	$ 1,092	$ 674
Loss (gain) on revaluation	277	(163)
Balance at end of period	$ 1,369	$ 511
Number of awards
Balance at beginning of period (in shares)	521,679	265,732
Balance at end of period (in shares)	521,679	265,732

Loss per Share - Schedule of Ea

Loss per Share - Schedule of Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Basic loss per share computation
Net loss from continuing operations attributable to the shareholders of Cronos Group	$ (2,241)	$ (19,169)
Weighted-average number of common shares outstanding for computation for basic earnings per share (in shares)	381,442,597	380,634,208
Weighted-average number of common shares outstanding for computation for diluted earnings per share (in shares)	381,442,597	380,634,208
Basic loss from continuing operations per share (in dollars per share)	$ (0.01)	$ (0.05)
Diluted loss per share from continuing operations (in dollars per share)	$ (0.01)	$ (0.05)
Loss from discontinued operations attributable to the shareholders of Cronos Group	$ 0	$ (1,222)
Basic loss from discontinued operations per share (in dollars per share)	$ 0	$ 0
Diluted loss from discontinued operations per share (in dollars per share)	$ 0	$ 0
Total anti-dilutive securities (in shares)	24,580,665	30,086,428

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands, ₪ in Millions	Apr. 17, 2023 ILS (₪) defendant	Oct. 24, 2022 CAD ($)	Mar. 12, 2020 complaint shareholder
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
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	26
Damages sought | ₪	₪ 420
Green Leaf Vs. Cronos | Cronos Group, Inc.
Loss Contingencies [Line Items]
Number of defendants	3

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Assets Measured on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 855,114	$ 669,291
Short-term investments		192,237
Other investments	6,842	9,601
Derivative liabilities	118	102
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	855,114	669,291
Short-term investments		192,237
Other investments	6,842	9,601
Derivative liabilities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Short-term investments		0
Other investments	0	0
Derivative liabilities	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Short-term investments		0
Other investments	0	0
Derivative liabilities	$ 118	$ 102

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Fair Value of Assets Measured on Nonrecurring Basis (Details) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 14, 2021	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments		$ 19,758	$ 35,251	$ 62,833	$ 70,993
Sale of stock, price per share (in dollars per share)	$ 0.0001
Sale of stock, percentage of ownership after transaction	10.50%
Purchase of other investments	$ 110,392
PharmaCann
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ownership interest		6.30%	6.60%
PharmaCann
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	473,787
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments		$ 12,916	$ 25,650
Fair Value, Nonrecurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments		0	0
Fair Value, Nonrecurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments		0	0
Fair Value, Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other investments		$ 12,916	$ 25,650

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Accounts payable	$ 9,401		$ 12,130
Cannabis Purchases | Related Party
Related Party Transaction [Line Items]
Purchases	7,010	$ 7,466
Accounts payable	1,501		2,267
Cannabis Germplasm Supply Agreement | Related Party
Related Party Transaction [Line Items]
Amount of transaction	361
Manufacturing Services | Related Party
Related Party Transaction [Line Items]
Purchases	772
Accounts payable	134		11
Manufacturing Services | Immediate Family Member of Management or Principal Owner
Related Party Transaction [Line Items]
Purchases		$ 833
Accounts payable	$ 0		$ 28
Cronos GrowCo
Related Party Transaction [Line Items]
Ownership interest	50%

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Nov. 27, 2023 CAD ($)
Peace Naturals Campus
Subsequent Event [Line Items]
Aggregate sale price	$ 23