Tilray, Inc, a leading global cannabis-lifestyle company reported net revenue of $513 million, a 27% increase from prior year, according to a report by Tilray on Wednesday.
- Net revenue increased by 25% to $142.2 million in Q4 from $113.5 million in the prior year quarter. The increase is supported by 36% growth in net cannabis revenue to $53.7 million.
- The adjusted EBITDA soared by 285% by $12.3 million in Q4 from $3.2 million prior year quarter, marking ninth consecutive quarter of positive Adjusted EBITDA.
- During the fourth quarter, the gross profit declined by 19% to $22.5 million from $27.8 million in the prior year quarter. The adjusted gross profit increased by 53% to $42.4 million in the fourth quarter.
- Tilray posted annual net loss of $336.0 million in 2021 worse than $100.8 million in 2020, attributable to $63.6 million of transaction costs and $170.5 million of non-cash unrealized loss on convertible debentures.
Tilray has been gaining market share in Canada and has invested in global growth strategy with successful EU-certified medical cannabis harvest in Germany for German distribution.
TLRY up 10.60% pre-market.