E Q1 2021: The Old Tilray's Final (Black) Swan Song

Tilray Inc. (TLRY), a constituent in the munKNEE Pure-Play LP Pot Stock Index, quietly presented its final financial results today as a separate entity before merging with Aphria for the period ended March 31, 2021. The highlights are as follows:

Q4 Financial Highlights

(All results are presented in USD and compared to the previous quarter.

  • Total Net Revenue: decreased 15% to $48M
    • Dried Cannabis: 44% of total net revenue
    • Cannabis Extract: 21%
    • Hemp: 35%
      • Canada: 57% of total net revenue
      • U.S.: 23%
      • Other: 20%
  • Cannabis Revenue: decreased 24% to 65.4% of total revenue from 73%
    • Adult-Use: -23.3% to 62% of total cannabis revenue
    • Canadian Medical: -23.5% to 10% of total cannabis revenue
    • Int'l Medical: -26.3% to 27.5% of total cannabis revenue
    • Bulk: +0.5% from 0% in the previous quarter
  • Hemp Revenue: increased 8.5% to 34.6% of total revenue from 27.1%
  • Gross Profit: $13.5M
  • Gross Margin: increased to 32% from 29%
    • Cannabis: increased to 35% from 33%
    • Hempdecreased to 27% from 34%
  • Net Profit (Loss): loss increased to $(340,955)M from $(3.0)M
  • Net Profit (Loss)/Share: loss increased to $(2.01) from $(0.02)
  • Adj. EBITDA: declined to $(6.3)M from $2.2M
  • Cash on hand: increased 119% to $416.4M

Operational Highlights

  • Cannabis:
    • Average Cost/g Sold: declined 4% to $3.56
    • Average net selling price/g: declined 16% to $5.00
  • Hemp:
    • Average gross selling price/unit: $6.82

If you found the above analysis of interest check out the other recent quarterly reports from HexoColumbia CareAyr Wellness, AuroraCanopyGreen Thumb, TerrAscendTrulieve, RubiconHarvest Health, ValensCronos, Curaleaf, and Organigram.

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