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July 28, 2022, 7:44 a.m. EDT

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

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By Steve Gelsi

TLRY

Tilray Brands Inc. /zigman2/quotes/209129655/composite TLRY +7.50% 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.

/zigman2/quotes/209129655/composite
US : U.S.: Nasdaq
$ 3.01
+0.21 +7.50%
Volume: 12.13M
Sept. 28, 2022 3:35p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.62 billion
Rev. per Employee
N/A
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