More coming - Impairments
Another indication that Tilray's M&A strategy is far from being successful is the impairments that Tilray did over the last two years. In 2022 and 2023 impairments totalled $ 1.3 billion. These impairments were mainly composed of a write-down on goodwill and impairment of intangible assets (customer relations and distribution channels).
For the $ 900+ million impairment the company pointed at the increased interest rates, slower progress in global cannabis legalisation and the declining share price.
It is a fair assumption that more impairments will follow in 2024. There is still around $ 2 billion of goodwill in the books.