Les ventes de Tilray explosent au T3 mixt

Les ventes de Tilray explosent au T3 mixt

novembre 25, 2019 0 Par admin


Translating…

The company’s revenue beats expectations, but its net loss is deeper than analysts anticipated.

Eric Volkman

Tilray (NASDAQ:TLRY) released its Q3 of fiscal 2019 results after market close on Tuesday. In contrast to fellow marijuana stock Aleafia Health (OTC:ALEAF), which reported its own Q3 figures that morning, Tilray’s stock price did not move violently on the news.

In its Q3, Tilray’s revenue amounted to just over $51 million. That was up by 11% from the Q2 tally, and represented a nearly 410% improvement on a year-over-year basis. On the bottom line, net loss deepened slightly to $35.7 million ($0.36 per share). Tilray’s Q2 net loss was $35.1 million, while Q3 2018’s deficit was $18.7 million.

Marijuana leaf atop a one-dollar bill.

Image source: Getty Images.

That most recent top-line figure beat the average analyst estimate of $49 million. However, those prognosticators were collectively expecting a per-share net loss of only $0.30. 

In terms of volume, Tilray sold 10,848 kilos of product in Q3. This was a dramatic improvement over both the 1,613 kilos in the year-ago quarter and the 5,588 kilos sold in Q2. Meanwhile, the average net selling price fell to $3.25 per gram; this figure was $6.21 a year ago and $4.61 in the previous quarter.

Tilray attributed the declines to « a shift in product and channel mix. »

The revenue growth was due to several factors. One was the development of the Canadian recreational-use market, which was legalized just over a year ago.

Another was Tilray’s absorption of hemp products producer Manitoba Harvest; that acquisition closed earlier this year. In Q3, Tilray booked almost $15.7 million in hemp sales, a category that was nonexistent for it one year ago.

Tilray also saw a steep increase in revenue outside of North America. Its sales of international medical cannabis offerings saw a nearly sixfold year-over-year increase, to $5.7 million. Although marijuana legalization is moving slowly in many markets abroad, certain nations have liberalized aspects of their laws — notably with medical cannabis.

As of this writing, Tilray’s stock was down by slightly more than 2% in after-hours trading. This relatively modest drop could provide some relief to marijuana stock investors following Aleafia’s stock performance. During Tuesday’s normal trading hours, Aleafia shares suffered a nearly 11% drop. 

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. »>


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