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Tilray Brands Inc - Stock Quote TLRY

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Morningstar's Tilray Brands Inc Stock Analysis

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Tilray Sees Fiscal Q3 Success in Germany but Heavily Competitive Canadian Market Still a Challenge

Analyst Note

| Kristoffer Inton |

Tilray reported a decent third quarter, highlighted by its 12th straight quarter of positive adjusted EBITDA while its Canadian peers are still searching for breakeven. Still, results continue to be weighed down by the continued difficulty of the Canadian market. So, while gross cannabis revenue was up 24% over the prior year quarter, this is largely driven by success in Germany attributable to legacy Tilray’s position there. Tilray’s international cannabis sales reached nearly $16 million, compared with less than $350,000 a year ago. International success masks the continued challenges in Canada, where Tilray’s adult-use sales were down 12% over the second quarter and down nearly 40% from the first quarter. Tilray retained the largest share of just over 10% in a market flooded with 800 licensed producers.

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Tilray Brands Inc's Company Profile

Business Description

Tilray is a Canadian producer that cultivates and sells medical and recreational cannabis. In 2021, legacy Aphria acquired legacy Tilray in a reverse merger and renamed itself Tilray. The bulk of its sales are in Canada and in the international medical cannabis export market. U.S. exposure consists of CBD products through Manitoba Harvest and beer through SweetWater.

655 Madison Avenue, Suite 1900
New York, NY, 10065
T +1 844 845-7291
Sector Healthcare
Industry Drug Manufacturers - Specialty & Generic
Most Recent Earnings Feb 28, 2022
Fiscal Year End May 31, 2022
Stock Type Speculative Growth
Employees 1,700

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