Categories AlphaGraphs, Earnings, LATEST, Other Industries

Wider-than-expected Q2 loss sends Tilray stock lower

Tilray (NASDAQ: TLRY) reported a loss of 32 cents per share in the second quarter, more than double what it reported last year, as rising operating expenses continue to weigh on its bottom-line. This was wider than analysts’ projection of a loss of 25 cents per share.

Revenue came in at $45.9 million, up 371% year-over-year and above analysts’ prediction of $41.1 million, driven by the Manitoba Harvest acquisition, the legalization of the Canadian adult-use market, and growth in Europe.

tilray q2 2019 earnings results

Total kilogram equivalents sold tripled to 5,588 kilograms from 1,514 kilograms in the prior-year period. However, the average net selling price per gram decreased to $4.61 from $6.38 a year ago.

TLRY shares were down 5.9% immediately following the announcement. The stock has tumbled 80% since its IPO last year. However, it has stabilized from April, trading mostly between $40 and $50.

Gross margin increased sequentially to 27% from 23% in the prior quarter.

cannabis stocks performance comparison

Though Tilray has put in a considerable amount of investments into beverage and retail partnerships, there is rising criticism that even these initiatives are overvalued in the markets. It’s hard to be sure though, given we are at the early stages of the cannabis industry.

As Tilray trailed behind its rivals in the medical marijuana segment, it shifted its focus to the abundant opportunities in the CBD-infused food products industry. The acquisition of Manitoba Harvest and more recently, UK-based alcohol gummy maker Smith & Sinclair, were aimed at producing food products based on cannabinoid.

READ: Canopy Growth earnings preview: Q1 crucial in the recent turn of events

In Q2, revenue from Food Products segment grew to $19.9 million, representing almost 43% of total revenues.

cannabis stocks market cap comparison; Canopy Growth, Aurora Cannabis, GW pharmaceuticals, Cronos Group, Tilray, Aphria, Hexo, Village Farms

However, the Federal Drug Administration recently questioned the authenticity and safety aspects of such products, besides initiating the first hearing on it two weeks ago.

Rival Aurora Cannabis (NYSE: ACB) will report earnings results on August 20, while Canopy Growth (NYSE: CGC) will report on August 14.  

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

AVGO Earnings: Broadcom Q2 2024 revenue and profit beat estimates

Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Wednesday reported higher second-quarter revenues and adjusted earnings. The results also topped analysts' expectations. Earnings, excluding non-recurring items, came in at $10.96 per

Key takeaways from Oracle’s (ORCL) Q4 2024 earnings report

Oracle Corporation’s (NYSE: ORCL) stock rallied this week after the company announced large cloud infrastructure deals with tech giants Google, OpenAI, and Microsoft. The demand for Oracle's generative AI infrastructure

ZDGE Earnings: Zedge reports higher revenues and adj. profit for Q3 2024

Content distribution platform Zedge, Inc. (NYSE American: ZDGE) has reported higher net income for the third quarter of 2024, on an adjusted basis. The bottom line benefitted from a double-digit

Comments

  1. Pingback: Critical thinking
  2. Pingback: MBA degree Cairo
  3. Pingback: التحصينات
  4. Pingback: Cloud Computing
  5. Pingback: Family dentistry
  6. Pingback: pannelli luci led
  7. Pingback: Fiverr Earn
  8. Pingback: Fiverr Earn
  9. Pingback: Fiverr Earn
  10. Pingback: Fiverr Earn
  11. Pingback: Fiverr Earn
  12. Pingback: Fiverr Earn
  13. Pingback: Fiverr Earn
  14. Pingback: fiverrearn.com
  15. Pingback: flatbed broker
  16. Pingback: liv pure buy
  17. Pingback: fiverrearn.com
  18. Pingback: fiverrearn.com
  19. Pingback: fiverrearn.com
  20. Pingback: fiverrearn.com
  21. Pingback: fiverrearn.com
  22. Pingback: Sem
  23. Pingback: future university
  24. Pingback: future university
  25. Pingback: drip beanie
  26. Pingback: frenchie puppies
  27. Pingback: Fiverr.Com
  28. Pingback: FiverrEarn
  29. Pingback: future university
  30. Pingback: lean six sigma
  31. Pingback: Warranty
  32. Pingback: FUE
  33. Pingback: FUE
  34. Pingback: FUE
  35. Pingback: Classic Books 500
  36. Pingback: FiverrEarn
  37. Pingback: FiverrEarn
  38. Pingback: Speaker
  39. Pingback: Porn Australia
  40. Pingback: partners
  41. Pingback: fue
  42. Pingback: joint genesis
  43. Pingback: Predictions
  44. Pingback: live sex cams
  45. Pingback: FiverrEarn
  46. Pingback: FiverrEarn
  47. Pingback: FiverrEarn
  48. Pingback: FiverrEarn
  49. Pingback: FiverrEarn
  50. Pingback: FiverrEarn
  51. Pingback: Food
  52. Pingback: technology
  53. Pingback: shopping cart
  54. Pingback: FiverrEarn
  55. Pingback: FiverrEarn
  56. Pingback: FiverrEarn
  57. Pingback: quietum plus scam
  58. Pingback: cheap sex cams
  59. Pingback: canine probiotics
  60. Pingback: french bulldog buy
  61. Pingback: live sex cams
  62. Pingback: live sex cams
  63. Pingback: rare breed-trigger
  64. Pingback: Despacho contable
  65. Pingback: 늑대닷컴
  66. Pingback: Agen slot online
  67. Pingback: nangs sydney
  68. Pingback: allgame
  69. Pingback: 918kiss
  70. Pingback: หวย24
  71. Pingback: Acne treatment
  72. Pingback: pg slot
  73. Pingback: Raahe Guide
  74. Pingback: Life Coach Chelsea
  75. Pingback: 6.5 prc ammo
  76. Pingback: itsMasum.Com
  77. Pingback: itsMasum.Com
  78. Pingback: nangs Sydney
  79. Pingback: itsmasum.com
  80. Pingback: itsmasum.com
  81. Pingback: joker gaming
  82. Pingback: newyorkcareerhub

Comments are closed.

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top