Falling Cannabis Sales Point to Tilray’s (TLRY) Miss

It’s no secret that Tilray’s cannabis sales have been dropping in Canada. In the quarter that ended Nov. 30, Tilray (TLRY) reported net revenue of $155.1M. This figure is considerably lower than consensus expectations of $170M. Tilray correlates the miss with coronavirus-related headwinds, supply-chain issues, and a lower share of the key Canadian market.

Tilray is still a market leader in Canada. And, despite the miss, the company was able to scratch out a net income of $5.7 million, compared with a loss of $34.6 million in the previous quarter.

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