Business
Tilray, Inc. Reports Fourth Quarter and Full Fiscal Year 2019 Financial Results
Revenue Increased 287% to $167.0 (C$217.4) Million in Full Fiscal Year 2019 Compared to the Prior Year Adult-Use Revenue Increased Over Three-Fold in the
About this update from Tilray Brands, Inc.
[{"type":"text","content":"\nRevenue Increased 287% to $167.0 (C$217.4) Million in Full Fiscal Year 2019 Compared to the Prior Year\n\n\nAdult-Use Revenue Increased Over Three-Fold in the Fourth Quarter Compared to the Prior Year Period; 7% Sequential Quarterly Revenue Growth\n\n\nSigned and Closed $60 Million Senior Credit Facility\n\n NANAIMO, British Columbia--(BUSINESS WIRE)--\nTilray, Inc. (“Tilray” or the “Company”) (Nasdaq: TLRY), a global pioneer in cannabis production, research, cultivation and distribution, reports financial results for the fourth quarter and full fiscal year ended December 31, 2019. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.\n\n\n“Our full year results demonstrate strong sales growth momentum, which we expect to continue in 2020,” said Brendan Kennedy, Tilray’s Chief Executive Officer. “Like our peers, we have faced industry challenges, but we remain committed to driving long-term value for our shareholders. Tilray has a diversified business model comprised of global medical, Canada adult-use and hemp products which positions us well in the current volatile market environment. We are still in the early days of this emerging growth industry and will continue being good stewards of shareholder capital as we aim to build the world’s most trusted and valued cannabis and hemp company.”\n\n\n2019 Financial Highlights\n\n\n\nRevenue increased to $167.0 (C$217.4) million, up 287.2% compared to last year. The increase in revenue was driven by significant growth in sales for the Canadian adult-use market, international medical markets as well as the acquisition of Manitoba Harvest.\n\n\n\n\n\n\n\nFor the three months ended December 31,\n\n\n\n \n\n\n\nFor the year ended December 31,\n\n\n\n\n\n\n\n2019\n\n\n\n \n\n\n\n2018\n\n\n\n \n\n\n\n$ Change\n\n\n\n \n\n\n\n% Change\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n2018\n\n\n\n \n\n\n\n$ Change\n\n\n\n \n\n\n\n% Change\n\n\n\n\nCannabis\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAdult-use\n\n\n$\n\n\n\n17,007\n\n\n\n\n$\n\n\n\n4,660\n\n\n\n\n$\n\n\n\n12,347\n\n\n\n \n\n\n\n\n265%\n\n\n\n\n$\n\n\n\n55,763\n\n\n\n\n$\n\n\n\n3,521\n\n\n\n\n$\n\n\n\n52,242\n\n\n\n \n\n\n\n\nN/A\n\n\n\n\nCanada - medical\n\n\n \n\n\n\n3,332\n\n\n\n\n \n\n\n\n2,845\n\n\n\n\n \n\n\n\n487\n\n\n\n \n\n\n\n\n17%\n\n\n\n\n \n\n\n\n12,556\n\n\n\n\n \n\n\n\n18,052\n\n\...