For the period ending August 31, Tilray reported revenue of $257.1 million, a 23% jump that fell short of the $266.3 million forecast. The primary engine for this growth was the company's beverage segment, which saw revenue climb 82% to $101.5 million, bolstered by the acquisition of the BrewDog brand. This expansion provided a necessary buffer against a downturn in the cannabis sector, where revenue retreated to $56.1 million from $64.5 million in the prior year. Distribution channels also saw gains, rising 14% to $84.3 million, while the wellness segment remained stagnant at $15.3 million.
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Tilray Posts Quarterly Loss as Beverage Gains Offset Cannabis Slump
A surge in beverage sales failed to shield Tilray Brands from a $40 million quarterly loss, as the company grappled with significant noncash charges. While the bottom line swung into the red compared to last year’s breakeven performance, the results narrowly outperformed the pessimistic projections set by Wall Street analysts.
Despite the headline net loss of 32 cents per share, the company’s adjusted loss of 2 cents per share proved far more resilient than the 18-cent loss expected by analysts tracked by FactSet. Management reaffirmed its full-year guidance, pinning hopes on a historical trend that sees financial performance skew heavily toward the second half of the fiscal cycle.
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