Canadian cannabis producer Tilray reported net revenue of $168 million (210 million Canadian dollars) for the June-August quarter, the first full quarter of sales after the merger between Aphria and Tilray closed earlier this year. The revenue was shy of analysts’ expectations, who had forecast quarterly sales of over $170 million. Tilray’s net loss grew to $34.6 million in the quarter, more than 60% higher than the same period one year ago. However, adjusted EBITDA, another measure of profitability, was $12.7 million. In a conference call with retail investors and analysts, CEO Irwin Simon acknowledged that Tilray’s market share in Canada was only 16% in the company’s first fiscal quarter, but he said the company had maintained the leading market share in Canada this summer.

MBJ Daily, 10/08/ 2021

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