Earnings

Tilray Brands’ revenue jumps, losses narrow

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Tilray CEO Irwin Simon: We're well positioned regardless of full U.S. legality of cannabis

Cannabis producer Tilray Brands on Wednesday reported a jump in revenue as it diversifies its portfolio and moves deeper into the beer industry.

The company reported $177 million in net revenue, up 15% year over year, for its fiscal first quarter. Its cannabis division brought in $70 million in net revenue, reflecting a 20% spike year over year.

It also narrowed its net loss to $55.9 million during the quarter, compared to a loss of $65.8 million a year earlier.

Tilray is a multinational cannabis company based in Canada, but it has increasingly moved into other segments, particularly the U.S. craft beer industry, as it navigates an uncertain legal environment for marijuana around the…



Source cnbc.com

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