Analyst Note| Kristoffer Inton |
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.