In the reporting quarter, the Canadian cannabis giant had a net loss of $457.8 million compared to a net income of $33.6 million in the same period last year.
Adjusted EBITDA was a gain of $11.5 million, marking the company’s 13th consecutive quarter of positive adjusted EBITDA.
Gross profit was a loss of $6.73 million compared to a gross profit of $22.49 million in the same quarter of 2021, an unfavorable decrease of 129%.
Cantor Fitzgerald’s Pablo Zuanic kept a ‘Neutral’ rating on Tilray stock but lowered the price target to $4.15 from $5.75.
According to the analyst, positive takeaways from Tilray’s latest financial report include the fiscal year 2023 EBITDA guidance of $70-$80 million compared to $48 million in the fiscal year 2022, projections to be free cash flow positive in the fiscal year 2023, overachieving on synergies, solid structure of the agreement with HEXO, being #1 in Germany …