Tilray Reports Second Quarter Net Income of $ 6 Million As Revenue Grows 20% From Last Year

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By The Canadian Press on January 10, 2022.

A man holds up a head outside a cannabis store in Winnipeg, Wednesday, October 17, 2018. THE CANADIAN PRESS / John Woods

NEW YORK – Tilray Inc. reported net income of nearly US $ 6 million in its most recent quarter as revenue skyrocketed and stepped up efforts to gain market share.

The cannabis company says the result is compared to a net loss of around US $ 89 million in the same quarter last year.

The company, which reports earnings in US dollars, says its net income for the quarter ended Nov. 30 broke even per share, down from a loss of 41 cents per share in the same quarter last year.

Tilray’s revenue increased approximately 20% to US $ 155 million from US $ 129 million in the previous year quarter.

Tilray claims that US $ 58.8 million of that revenue in its last quarter was from his cannabis business, while US $ 13.7 million was attributed to his SweetWater Brewing business and US $ 13.8 million. were from Manitoba Harvest.

Tilray also announced that it will begin using Tilray Brands Inc. as its new parent company name, as it better reflects its evolution from a Canadian licensed cannabis producer to a global consumer packaged products company.

This report by The Canadian Press was first published on January 10, 2022.

Companies in this story: (TSX: TLRY)


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