From Seekingalpha · Bill Maurer · · 40s
Tilray Q1 Results Disappoint
Tilray's Q1 revenue missed estimates as core cannabis sales drop.
In brief
Tilray's Q1 revenue missed estimates as core cannabis sales drop. Tilray reported Q1 revenue below estimates with core cannabis sales declining 13% and a loss after the BrewDog acquisition. Originally reported by Seekingalpha.
Tilray Q1 Results
Tilray reported disappointing fiscal Q1 results missing revenue estimates despite management highlighting record sales.
Core Sales Decline
Core cannabis sales declined 13% while revenue growth was driven solely by the BrewDog acquisition.
Financial Loss
Adjusted bottom line swung to a loss after cash burn surged to $23.4 million.
Share Dilution
Shares outstanding increased over 31% year-over-year with severe share dilution.
The bottom line
Tilray reported Q1 revenue below estimates with core cannabis sales declining 13% and a loss after the BrewDog acquisition.
