TORONTO (AP) _ Cronos Group Inc. (CRON) on Friday reported a fourth-quarter loss of $111.2 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Toronto-based company said it had a loss of 31 cents. Losses, adjusted for non-recurring costs and to account for discontinued operations, were 19 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.
The cannabis company posted revenue of $17 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $13.8 million.
For the year, the company reported a loss of $75.3 million, or 21 cents per share, swinging to a loss in the period. Revenue was reported as $46.7 million.
Cronos shares have climbed 55% since the beginning of the year. The stock has climbed 79% in the last 12 months.