KING CANNABIS TLRY #1 CANADA / GLOBAL Net revenue increased to $168 million, driven by 38% growth in net cannabis revenue to $70 million. Maintained #1 market share in Canada, including top position in cannabis flower and pre-rolls; 5 Tilray brands rank in top five brands across all adult-use product categories. International market leader and #1 in Germany for medical cannabis extracts. Gross profit increased 46% to $51 million and Adjusted gross margin in the cannabis segment has remained strong at 43%. Cost-saving synergies of $55 million achieved and on-track for at least $80 million in cost-savings.
Canopy has stated it is losing market share, and ACB also stated the same recently, proving Tilray is dominating Canadian rec. sales and poised to grab even more market share going forward with growing international as well.