Categories AlphaGraphs, Cannabis, Earnings

Tilray Q2 loss widens despite revenue growth; results miss

Cannabis company Tilray, Inc. (NASDAQ: TLRY) Monday reported a wider net loss for the second quarter of 2020, despite a marked increase in revenues.

Tilray Q2 2020 Earnings Infographic

Revenues of the Canada-based company increased by 10% to $50.4 million in the June quarter but fell short of the forecast. The growth reflects strong performance by the cannabis adult-use and international-medical channels.

Meanwhile, net loss widened to $81.69 million or $0.66 per share in the second quarter from $36.3 million or $0.37 per share in the comparable period of 2019. Analysts were looking for a narrower loss for the latest quarter.

Looking forward to listening to management/analysts’ comments on Q2 results? Stay tuned here for Tilray’s Q2 2020 earnings call transcript 

Tilray’s stock has fallen 74% in the past twelve months. The stock closed Monday’s regular session higher but dropped sharply during the extended session soon after the announcement.

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