From Nasdaq:

Shares of Tilray Brands have jumped almost 40% in the last six months and 22% in the past month. However, the stock has fallen 22% over the past year. The company will report second quarter fiscal 2024 earnings results before the market opens on Tuesday.

Tilray and other cannabis companies depend on US government action to legalize marijuana and pass the SAFE Banking Act. Management is expanding international markets and diversifying. The company’s long-term success depends on federal legalization.

Tilray is expected to report a Q2 2024 loss of 6 cents per share on revenue of $195.1 million. For the full year, a loss of 28 cents per share is expected, narrowing from $2.35 a year ago. Full-year revenue is expected to rise 28.7% year over year to $807.2 million.

The global cannabis market is expected to grow to $80 billion by 2027. Tilray investors hope the company can capture a meaningful share of that market if or when federal legalization laws pass. The company in Q1 beat analyst revenue estimates by $3 million and grew revenue 15.5% year over year. However, its net loss narrowed 15% year over year to $56 million.



Read more: Tilray Brands (TLRY) Q2 2024 Earnings: What to Expect