Tilray Q2 2022 Earnings Report
Key Takeaways
Tilray's Q2 2022 financial results showed a ~20% increase in net revenue to $155 million and a net income of $6 million, a $95 million improvement from the prior year quarter. The company also achieved $13.8 million in adjusted EBITDA, marking the 11th consecutive quarter of positive adjusted EBITDA.
Net revenue increased ~20% to $155 million from the prior year quarter.
Net income improved $95 million to $6 million from the prior year quarter.
Adjusted EBITDA of $13.8 million, 11th consecutive quarter of positive Adjusted EBITDA.
Achieved $70 million in cost synergies to date; On-Track to Exceed Original Plan of $80 Million Ahead of Schedule and to Generate Additional $20 Million of Synergies in Fiscal 2023.
Tilray
Tilray
Tilray Revenue by Segment
Forward Guidance
Tilray is on track to exceed its original synergy plan and generate additional synergies in fiscal year 2023. The company is also well-positioned to benefit from recreational legalization in Germany and to leverage its U.S. CPG platform for cannabis products upon federal legalization.
Positive Outlook
- On-Track to Exceed Original Plan of $80 Million Ahead of Schedule and to Generate Additional $20 Million of Synergies in Fiscal 2023
- Leading Medical Cannabis Company in Europe with ~20% Market Share in Germany
- Tilray is also the only company currently supplying the German government with medical cannabis grown in-country.
- The Company’s state-of-the-art EU GMP certified cultivation facility in Germany has additional capacity to immediately support entry into the recreational market upon legalization, which the new German coalition government is accelerating.
- SweetWater, the 11th largest craft brewer in the nation and leading lifestyle brand, and Manitoba Harvest, a pioneer in hemp, CBD and wellness products.
Revenue & Expenses
Visualization of income flow from segment revenue to net income