The company also cut its guidance for its 2024 financial year ending May 31 with expectations for adjusted EBITDA of US$60 million to US$63 million, down from earlier guidance for US$68 million to US$78 million.
Tilray added that it no longer expects positive adjusted free cash flow for its full financial year, due to the delayed timing for collecting cash on various asset sales. The company, which keeps its books in U.S. dollars, says its loss for the quarter amounted to 12 cents per diluted share for the quarter ended Feb. 29.
The result compared with a loss of US$1.2 billion or US$1.90 per diluted share in the same quarter last year when it recorded a large one-time impairment charge. Net revenue in what was the company's third quarter totalled $188.3 million, up from $145.6 million a year earlier.The Canadian Press
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