Cannabis company Tilray (NASDAQ: TLRY) has announced financial results for the second quarter of 2023, reporting a net loss and a 7% decrease in revenues.
The company reported a net loss of $61.6 million or $0.11 per share for the three months ended November 2022, compared to a profit of $5.8 million or breakeven per share in the prior-year period. Cannabis gross profit Increased by 37% to around $19 million.
The bottom line was negatively impacted by a 7% decline in revenues to $144.2 million. At $11.7 million, adjusted EBITDA was down 15%.