From Investing.com: 2024-04-09 09:21:21

Tilray Brands, Inc. reported lower-than-expected third-quarter financial results with an adjusted loss per share of -$0.12 and revenue of $188.3 million, missing estimates. Despite a 30% revenue growth, including a 165% surge in the beverage-alcohol segment, the stock fell by almost 15% in premarket trading.

The company now expects adjusted EBITDA of $60-63 million for fiscal year 2024, with no positive adjusted free cash flow due to delayed asset sale cash receipts. CEO Irwin D. Simon highlighted operational achievements but investor concerns over meeting financial targets led to a premarket stock decline.

Tilray’s recent financial results showcase significant revenue growth and market capitalization of $1.94 billion. Despite its size in the cannabis industry and revenue increase, volatile stock price movements and analyst expectations of continued losses pose challenges for the company. However, positive stock returns over the last month and undervaluation compared to book value offer potential opportunities for investors.



Read more at Investing.com: Tilray Brands shares tumble on earnings miss, guidance cut By Investing.com