Piper Sandler Reviews Tilray's Q2 02:32 PM EST, 01/13/2025 (MT Newswires) -- Tilray reported US$211 million second-quarter revenue, missing Piper Sandler's US$222.2 million estimate. The company's second quarter revenue was up ~6% sequentially.
Tilray expects fiscal 2025 sales of US$950 million to US$1 billion, which already included some M&A contribution.
"We believe TLRY stands out from competitors with direct access to the EU, but we expect cannabis stocks (TLRY included) will likely continue to trade largely on U.S. regulatory expectations."
Trimming F25E sales from ~US$875 million to ~US $865 million. Also lowering F26E sales from US$920 million to US$910 million.
Reiterate US$2 target, Neutral rating.