Overview
- Tilray reported break-even adjusted EPS versus an expected 2-cent loss, with adjusted net income of $3.9 million and adjusted EBITDA up 9% to $10.2 million.
- Net revenue rose to $209.5 million, topping estimates of $204.55 million, as cannabis, distribution, and wellness posted year-over-year gains.
- Beverage revenue was essentially unchanged at about $56 million, and gross margin contracted to 27% from 30%.
- The company reduced debt by $7.7 million, ended the quarter with $264.8 million in cash, and reported a net-debt-to-TTM adjusted EBITDA ratio of 0.07x.
- Shares jumped roughly 30% intraday to multi-year highs after the release, as investors also weighed recent German medical product additions under the BfArM program.