Canadian hemp, marijuana producer Tilray reports $271 million loss for year
Industrial Hemp NewsMarijuana Laws, Regulations, & Politics February 18, 2021 MJ Shareholders 0
Canadian hemp and marijuana producer Tilray cut its annual loss to $271 million for 2020 — an improvement from the Nanaimo, British Columbia company’s $321 million loss in 2019, according to the full-year and fourth-quarter results released Wednesday.
Tilray, which is on the verge of being merged with Canadian peer Aphria, lost only $3 million in its fourth quarter ended Dec. 31, 2020.
Adjusted EBITDA was $2.2 million.
Tilray reports its financials in U.S. dollars.
Overall revenue rose to $56.6 million in the quarter, up from $51.4 million for the July-September period.
Revenue attributed to cannabis was $41.2 million, up from the previous quarter’s $31.4 million.
Hemp revenue, on the other hand, fell 23% quarter-over-quarter to $15.3 million.
Tilray shares trade as TLRY on the Nasdaq exchange, and Aphria shares trade as APHA on the Nasdaq and Toronto Stock Exchange.
Read more about Tilray’s financials and the merger at Marijuana Business Daily.
MJ Shareholders
MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers
No comments so far.
Be first to leave comment below.