RE:TLRY showing massive profitable growth in global businessSavage97 wrote: TLRY had a record year with net revenue growing 22% to reach $628 million. Their international cannabis sales grew 200% compared to Q4 in fiscal 2021, and they are the undisputed best positioned company as global legalization continues to accelerate.
According to Prohibition Partners, sales of medical cannabis in Europe are expected to be approximately EUR 354 million this year, growing to EUR 2.3 billion by 2026. Sales of adult-use cannabis in Europe are expected to reach EUR 1.5 billion by 2026 with more progressive cannabis legislation being introduced across the continent.
The potential is enormous, especially in Germany as a central market, which is expected to remain the largest medical cannabis market in Europe and should also emerge as one of the largest adult-use markets upon legalization. We are already the leader in medical cannabis and No. 1 in revenues in both flower and oil categories. Based on INSIGHT Health sales data, Germany's leading provider of health industry, pharmacy, and medical cannabis sales data, Tilray has a market share of approximately 20% in Germany.
TLRY ended the year with more than $400 million in cash and is expecting to be free cash flow positive in fiscal 2023.
Tilray is stalling like the others. The grow rate is not even 1% on a QOQ because of the competition. Even the CEO said there were too many licenses for the market. A company need good growing revenue. The population will not double anytime soon so I expect the revenue stalling for a long time. If it was only one company having this problem, I could say that it is possible to regain market shares but they all have the same problem, too much competition, and it will not change for years. The CEO said there will be comsolidation in the sector and some companies will go bankrupt which is quite obvious but this will take a long long time. Show me a good quarter on revenue, I might buy.
Revenue for the quarter amounted to $153.3 million, marking growth of 0.96% on a quarter over quarter basis. The quarter saw the firms cannabis segment slide to 35% of revenues at $53.3 million, while distribution revenue fell to 39% at $61.2 million. Beverage alcohol meanwhile increased to 15% of revenues at $22.7 million, while the remainder came from the wellness segment, at 11%, or $16.2 million.
Gross profit for the quarter meanwhile was negative $6.7 million.