Canadian cannabis giant Tilray, Inc. (NASDAQ:TLRY) (TSX:TLRY) posted its latest financial earnings report Wednesday, touting a spike in both fourth quarter and full fiscal 2021 revenue and a proclamation from CEO Irwin D. Simon that Tilray is “leading the global cannabis industry with low cost of production, leading brands, a well-developed distribution network, and unique partnerships.”
Based in New York and Leamington, Ontario, Tilray reported the fourth quarter 2021 revenue increase of 25% to $142.2 million from $113.5 million in the prior-year quarter. Net cannabis revenue totaled $53.7 million, representing a 36% growth.
Net revenue grew by 27% to $513.1 million during 2021, from $405.3 million in 2020, driven mainly by a 55% growth in net cannabis revenue, which amounted to $201.4 million.
The company highlighted that the financial results include a full quarter of the old Aphria (through May) and one month of the old Tilray. The two Canadian cannabis companies merged in May, after months of negotiations…read more.