Tilray Stock Rose 1.56% in Premarket Trading

Tiger Newspress2022-04-06

Tilray Stock Rose 1.56% in Premarket Trading. Tilray's net revenue increased 23% to $152 million during the third quarter.

Financial Highlights – Third Quarter Fiscal 2022

Net revenue increased 23% to $152 million during the third quarter from $124 million in the prior year quarter. The increase was driven by 32% growth in cannabis revenue to $55 million, 64% growth in beverage alcohol revenue of $20 million and wellness revenue of $15 million.

Gross profit increased 31% to $40 million from $30 million in the prior year quarter. Gross margin increased to 26% from 25% in the prior year quarter.

Significant growth in international cannabis with revenue up over 4,000% from the prior year quarter, and 37% increase in revenue in EMEA when compared to the previous quarter

Maintained #1 leadership position in Canada1 with 10.2% cannabis market share driven by Tilray’s comprehensive portfolio of adult-use brands, and growth in pre-roll and vape product categories.

Cost synergies from Aphria-Tilray combination of $76 million achieved on a run-rate basis to date. Expect to reach $80 million synergy target by May 31, 2022, five months ahead of schedule and to generate an additional $20 million in synergies in fiscal 2023.

Distribution revenue decreased 11% to $63 million during the third quarter from $70 million in the prior year quarter. The decrease was driven by the impact of changes in the exchange rate between the Euro and USD, which led to a $7 million reduction.

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Comments

SquareGuy
2022-04-06
SquareGuy
$GrowGeneration Corp.(GRWG)$betting on it
haoren
2022-04-06
haoren
Nice
LenaNg
2022-04-06
LenaNg
[Like]
AlphaSpiker
2022-04-06
AlphaSpiker
Hmmm

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The increase was driven by 32% growth in cannabis revenue to $55 million, 64% growth in beverage alcohol revenue of $20 million and wellness revenue of $15 million.</p><p>Gross profit increased 31% to $40 million from $30 million in the prior year quarter. Gross margin increased to 26% from 25% in the prior year quarter.</p><p>Significant growth in international cannabis with revenue up over 4,000% from the prior year quarter, and 37% increase in revenue in EMEA when compared to the previous quarter</p><p>Maintained #1 leadership position in Canada1 with 10.2% cannabis market share driven by Tilray’s comprehensive portfolio of adult-use brands, and growth in pre-roll and vape product categories.</p><p>Cost synergies from Aphria-Tilray combination of $76 million achieved on a run-rate basis to date. 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Tilray's net revenue increased 23% to $152 million during the third quarter.Financial Highlights – Third Quarter Fiscal 2022Net revenue increased 23% to $...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TLRY","symbol_name":"Tilray Inc.","start_time":0,"source_url":"","article_id":"1139488423","we_media_id":"1079075236","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1139488423","pubTimestamp":1649243408,"sourceInfo":null,"weMediaInfo":{"media_name":"Tiger Newspress","introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"summary":"Tilray's net revenue increased 23% to $152 million during the third quarter","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"TLRY":"Tilray Inc."},"translate_title":"Tilray股票在盘前交易中上涨1.56%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TLRY":0.9},"content_text":"Tilray Stock Rose 1.56% in Premarket Trading. 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