Overview
- Tilray reported earnings of $0.01 per share versus expectations for a $0.20 loss, with revenue of $217.51 million topping the $210.95 million consensus.
- CEO Irwin D. Simon called it a record quarter, citing approximately $218 million in net revenue driven by a diversified portfolio across cannabis, beverage, wellness and distribution.
- The stock rose about 7% in extended and pre-market trading following the results.
- The company plans to leverage Tilray Medical U.S., its global medical cannabis business and a $300 million Tilray Pharma distribution platform to pursue FDA trials and product-development partnerships.
- Investors are monitoring the potential shift of cannabis from Schedule I to Schedule III, which could enable standard expense deductions and materially improve cash flow if enacted.