Tilray's Financial Statements don't seem to appear on its website - have to go to SEDAR to get them.
Balance Sheet is in good shape, but Goodwill (2B) represents almost half of Total Assets (4.2B).
A high % of Goodwill is not necessarily a bad thing, but is subject to possible impairments.
Unlike other intangible assets, Goodwill can't be sold off separately from the company itself.
Approximately 130M more shares were issued over the past 12 months ended November 30, 2024.
On another note, it appears approx. 88% of Tilray's outstanding shares are owned by Retail Investors, 10% by Institutions, and 2% by Company Insiders. Tilray's low share price, high retail ownership, and no dividend provides an ideal environment for shorters.
Many institutional investors typically require a minimum share price of 5.00 before they consider purchasing a company's shares. Perhaps TLRY should ponder a 1:3 share consolidation to get them past this screen and reduce the large presence of retail ownership...?