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7 Key Takeaways From Tilray’s Q4 Earnings Release

Jul 29, 2021 • 7:39 AM EDT
2 MIN READ  •  By Michael Berger
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Yesterday, Tilray, Inc. (TSX: TLRY) (Nasdaq: TLRY) released fourth quarter financial results that included numbers from its merger with Aphria and the stock ended the day up more than 25%. 

Although Tilray reported 25% higher revenue when compared to the same period last year, the numbers came in below analysts’ estimates. During the quarter, the business was negatively impacted by COVID-19 lockdowns in Ontario that started in early April (the country’s largest province by population). The province is a key market for the Canadian cannabis producer and we will monitor how lockdowns impact future quarters. 

Tilray CEO Irwin Simon said the company had recognized approx. $35 million of synergies and we are favorable on how the combined company is lowering expenses. Simon said the company is on track to save $80 million over the next 16 months and we will monitor how the management team is able to execute on this. 

Today, we want to highlight 7 important data points from Tilray’s fourth quarter earnings report and consider these data points to be key aspects of the story:

  1. Generated $142.2 million of net revenue which was lower than the average estimate of $146.2 million (according to Refinitiv IBES estimates)
  2. Recorded $33.6 million of net income for the quarter which included a one-time adjustment of $19.9 million from excess inventory quantities due to the Aphria merger
  3. Adjusted EBITDA was $12.3 million which represents a 285% increase when compared to the same period last year. The quarter was the company’s ninth consecutive quarter of positive Adjusted EBITDA
  4. Net cannabis revenue grew to $53.7 million, a 36% increase
  5. Net beverage alcohol revenue was $15.9 million which is related to the acquisition of SweetWater Brewing Company 
  6. Net wellness revenue was $5.8 million and this amount was from Manitoba Harvest
  7. Ended the quarter with a strong balance sheet and reported to have $488.5 million of cash and cash equivalents 

We believe that Tilray is executing on a multi-national expansion strategy and are bullish on the growth prospects that are associated with it. If you are interested in learning more about Tilray, please send an email to support@technical420.com with the subject “Tilray” to be added to our distribution list. 

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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

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