Cannabis company Tilray (NASDAQ: TLRY) has announced financial results for the third quarter of 2023, reporting a net loss and a 4% decrease in revenues.
The company reported a net loss of $1.20 billion or $1.90 per share for the three months ended February 2023, compared to a profit of $52.5 million or $0.09 per share in the prior-year period. Adjusted cannabis gross profit Increased by 23% year-over-year to around $22.2 million.
The bottom line was negatively impacted by a 4% decline in revenues to $145.6 million. At $14.0 million, adjusted EBITDA was up 39%.