(Tilray) Tilray Inc. reported net revenue of $168 million in the first quarter of FY22, up 43% from the comparable period of the last financial year.
Net cannabis revenue rose by 38% to $70 million. Net beverage alcohol revenue was $15 million, while wellness revenue was $15 million.
Gross profit rose by 46% year over year to $51 million. Adjusted gross margin from the cannabis segment held a robust 43% rate.
Tilray widened its net loss to $34.6 million from $21.7 million posted in the comparable quarter of FY21.
The company achieved cost-saving synergies of $55 million and is on track for $80 million cost-savings from its combination with Aphria.
TLRY: NASDAQ is up +2.69% on premarket.
