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Tilray(TLRY) - 2025 Q1 - Quarterly Results
TLRYTilray(TLRY)2024-10-10 11:00

Revenue Growth - Q1 net revenue increased 13% year-over-year to 200million[1][3]−Netrevenuegrewby13200 million[1][3] - Net revenue grew by 13% to 200,044 from 176,949[19]−Beveragealcoholnetrevenuesurged132176,949[19] - Beverage alcohol net revenue surged 132% to 56.0 million in Q1[3] - Beverage alcohol business revenue surged to 55,972,representing2855,972, representing 28% of total revenue[23] - Net beverage alcohol revenue surged 131.6% to 56.0 million in Q3 2024 from 24.2millioninQ32023[27]GrossMarginandProfit−Grossmarginincreasedby500basispointsto3024.2 million in Q3 2023[27] Gross Margin and Profit - Gross margin increased by 500 basis points to 30% in Q1[1][3] - Gross profit increased by 35% to 59,706 from 44,196[19]−Cannabisnetrevenuereached44,196[19] - Cannabis net revenue reached 61.2 million with a gross margin of 40% in Q1[3] - Cannabis adjusted gross margin improved to 40% in Q3 2024 from 35% in Q3 2023[27] Business Segments - Distribution net revenue was 68.1millionwithagrossmarginof1268.1 million with a gross margin of 12% in Q1[3] - Wellness net revenue grew 11% to 14.8 million in Q1[3] - Cannabis business revenue declined to 61,249,accountingfor3161,249, accounting for 31% of total revenue[23] - Distribution business revenue slightly decreased to 68,071, making up 34% of total revenue[23] - Wellness business revenue rose to 14,752,contributing714,752, contributing 7% of total revenue[23] - Net cannabis revenue for Q3 2024 was 61.2 million, a decrease of 12.9% compared to 70.3millioninQ32023[25]−Canadianadult−usecannabisrevenuedeclinedby19.670.3 million in Q3 2023[25] - Canadian adult-use cannabis revenue declined by 19.6% to 57.2 million in Q3 2024 from 71.2millioninQ32023[25]−Internationalcannabisrevenuedecreasedby14.571.2 million in Q3 2023[25] - International cannabis revenue decreased by 14.5% to 12.2 million in Q3 2024 from 14.3millioninQ32023[25]FinancialPerformance−AdjustedEBITDAwas14.3 million in Q3 2023[25] Financial Performance - Adjusted EBITDA was 9.3 million in Q1 compared to 10.7millionintheprioryearquarter[3]−Operatinglosswidenedby610.7 million in the prior year quarter[3] - Operating loss widened by 6% to (36,570) from (34,362)[20]−Netlossdecreasedby38(34,362)[20] - Net loss decreased by 38% to (34,652) from (55,863)[20]−AdjustedEBITDAforQ32024was(55,863)[20] - Adjusted EBITDA for Q3 2024 was 9.3 million, down 13.0% from 10.7millioninQ32023[27]−Netlossnarrowedto10.7 million in Q3 2023[27] - Net loss narrowed to 34.7 million in Q3 2024 from 55.9millioninQ32023,a3855.9 million in Q3 2023, a 38% improvement[30] Cash Flow and Assets - Total assets increased to 4,261,867 from 4,221,665[18]−Netcashusedinoperatingactivitiesincreasedby1234,221,665[18] - Net cash used in operating activities increased by 123% to (35,307) from (15,842)[21]−Cashandmarketablesecuritiesdecreasedto(15,842)[21] - Cash and marketable securities decreased to 280.1 million as of August 31, 2024, from 466.5millionayearearlier[27]−Freecashflowwasnegative466.5 million a year earlier[27] - Free cash flow was negative 42.0 million in Q3 2024, compared to negative 19.7millioninQ32023[33]−Workingcapitalincreasedto19.7 million in Q3 2023[33] - Working capital increased to 432.3 million as of August 31, 2024, from $292.0 million a year earlier[27] Regulatory and Market Developments - German medical cannabis flower revenue increased by 50% following legalization[1] - Tilray Alternative Beverages launched in October to fuel key U.S. markets with hemp-derived Delta-9 THC products[1] - The company anticipates improved regulatory changes in the cannabis industry following the upcoming U.S. Presidential elections[2]