Tilray Q4 2022 Earnings Report
Key Takeaways
Tilray Brands reported an 8% increase in net revenue for the fourth quarter, reaching $153.3 million. The company faced a net loss of $457.8 million, which included a non-cash impairment of $395.0 million. Adjusted EBITDA remained positive for the 13th consecutive quarter at $11.5 million. The company is on track to deliver $100 million in cost synergies by the end of fiscal year 2023 and expects to be free cash flow positive in its operating business units in fiscal year 2023.
Net revenue grew by 8% to $153.3 million, or 14.5% on a constant currency basis.
Net loss was $457.8 million, including a $395.0 million non-cash impairment.
Adjusted EBITDA was $11.5 million, marking the 13th consecutive quarter of positive Adjusted EBITDA.
International cannabis revenue increased 205% compared to the prior year's Q4.
Tilray
Tilray
Forward Guidance
Tilray Brands expects to generate $70-$80 million of Adjusted EBITDA and be free-cash flow positive in its operating business units in FY2023.