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Tilray’s Recent Financial Results
The company released its Q4 2024 results, surpassing analysts’ expectations on both top-and-bottom-lines. Net revenue increased 25% year-over-year, rising from $184.2 million to $229.9 million, beating analysts’ projections of $227.07 million. The beverage-alcohol division particularly excelled, with a 137% increase in revenue and a gross profit rise of 146%, thanks to new product innovations and contributions from recent acquisitions. The cannabis division saw revenue growth of 12% but decreased gross profit due to the conclusion of the HEXO advisory services agreement. Meanwhile, distribution revenue dipped a bit due to management’s focus on discontinuing less profitable product lines, but wellness saw a modest 6% gain in revenue.
The company’s net loss significantly decreased from $119.8 million in the same quarter the previous year to $15.4 million, primarily due to non-cash expenses. Earnings per share (EPS) came in at $0.04, well above the anticipated -$0.02.