12:03 PM EST, 02/27/2025 (MT Newswires) -- (Updates shares.)

Cronos Group ( CRON ) shares were last seen up 6.6% on Thursday as the company's fourth-quarter earnings beat analyst forecasts.

The cannabinoid company posted an attributable net income of US$43.7 million, or US$0.11 per share, swinging from a year-prior loss of US$44.8 million, or $0.12, and topping the FactSet consensus estimate for a loss of US$0.01.

Revenue rose 27% to US$30.3 million. The adjusted EBITDA loss narrowed to US$7.2 million from a loss of US$14.8 million. The company said it achieved US$8.7 million in operating expense savings in 2024 on a standalone basis, beating its target of US$5 million to $10 million.

Cronos ( CRON ) said its savings were primarily driven by lower expenses in general and administrative, research and development and sales and marketing.

"Our unwavering commitment to innovation, quality, and disciplined cost management has solidified our leadership in the global cannabis industry," said chief executive Mike Gorenstein.

The company's shares were last seen up $0.18 to $2.83 on the Toronto Stock Exchange.