Tilray swings to loss on impairment charge but revenue beats analyst target

Tilray Brands Inc. /zigman2/quotes/209129655/composite TLRY +1.70% shares fell 1.5% in premarket trades Thursday after the cannabis company said it swung to a fourth-quarter loss of $457.8 million, or 90 cents a share, from net income of $33.6 million, or 38 cents a share, in the year-ago quarter. The loss in the latest quarter includes a non-cash impairment of $395 million primarily impacting inventory, goodwill and other intangible assets, related to "changes in market opportunities causing a shift in our strategic priorities" as well as higher rates of borrowing and lower foreign exchange rates. Tilray's revenue increased to $153.33 million from $142.24 million. Wall Street analysts expected Tilray to lose 8 cents a share on revenue of $151.3 million.

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Tilray Brands Inc.

US : U.S.: Nasdaq

$ 2.39

+0.04 +1.70%

Volume: 15.60M

Sept. 29, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$1.73 billion

Rev. per Employee

$391,953