Tilray reported revenue of $45.9M (beating estimates of $40.3M), but posted a loss of $17.9M when analysts only expected losses of $14.4M.
Yahoo Finance
- Tilray president and CEO Brendan Kennedy said that in a once-in-a-lifetime legalized industry emerging out of nothing, “if you want to dominate that global industry, you’d be constraining yourself if you were focused on profitability at this point.”
Bloomberg - Saying “Globally, now’s the time to invest,” Kennedy signalled his intention to continue building the corporation.
Quick Hits
- Cronos reported a Q2 2019 loss of $17.8M, even as net revenue spiked from $3.39M to $10.24M, quarter over quarter. Bloomberg
- Supreme Cannabis predicted its Q4 2019 revenue will increase 97% over the previous quarter, and 449% year over year. CEO Navdeep Dhaliwal said the green rush is over and the industry is at “an inflection point. We’re entering a stage where people are really looking at… who’s operating good businesses.” Bloomberg
- Because early enthusiasm over acquisitions boosted prices, many LPs are carrying loads of goodwill (value applied to the company beyond that of its physical assets) that could lead to writedowns.
Marketwatch
