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Tilray’s cost-cutting efforts bore fruit as the company achieved positive adjusted EBITDA, generating $2.2 million in the fourth quarter. The top line was impressive, too. Cannabis revenue was up 46% over the prior-year quarter to $41 million. Tilray saw year-on-year sales growth of 49%, 26%, and 191% for recreational, Canadian medical, and international medical, respectively, offsetting declines in bulk and hemp.
Aphria, which is headquartered in Ontario, produces and sells medicinal and recreational cannabis. The company operates through retail and wholesale channels in Canada and internationally. Aphria is a main distributor of medical cannabis to Germany and has operations in over 10 countries outside of Canada. However, it does not have exposure to the U.S. CBD or THC markets due to the constraints of federal prohibition. It has some U.S. exposure through the acquisition of SweetWater, a craft brewery. The company is focusing on expanding through international cultivation and distribution into the global medical cannabis market. Aphria also offers multiple products under a portfolio of recreational cannabis brands, including B!NGO, Solei, RIFF, and Broken Coast.
