Marijuana firm Tilray reports higher than expected Q4 revenue of $15.5M

Marijuana firm Tilray reports higher than expected Q4 revenue of $15.5M

Tilray, the Canadian cannabis cultivator giant, reported revenue for the fourth quarter 2018 ended Dec. 31 of $15.5 million.

The results largely beat analysts’ forecasts of $15 million in sales and a loss of $6 million for the period, or 15 cents a share. Net loss for the period totaled $31 million, or 33 cents per share as operating expenses increased.

Net loss for the full year 2018 totaled $67.7 million amid FY revenue of $43.1 million, more than double the same period in 2017.

Increased revenue came as the Canadian adult-use market opened up and amid better bulk sales and improved distribution, the company said.

Tilray trades on the Nasdaq under the ticker TLRY.

The British Columbia-based producer agreed to buy hemp producer Manitoba Harvest in February to take advantage of the legalization of hemp in the U.S. 

Tilray also partnered with drinks giant AB InBev in December to jointly research marijuana-infused drinks.

Published at Mon, 18 Mar 2019 20:44:32 +0000

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