Tilray reports US$105-million loss, cuts earnings forecast

cut its projected earnings for the fiscal year and reported revenues that fell short of analyst estimates, triggering a sharp sell-off of the cannabis producer’s shares along withTilray reported a loss of US$105-million for its third fiscal quarter ended Feb. 29, compared with a loss of US$1.2-billion a year earlier, when it recorded a large one-time impairment charge.

Since the beginning of 2024, four small and mid-sized producers have filed for creditor protection under the Companies’ Creditors Arrangement Act, with combined liabilities of more than $150-million, and one posted a notice of intention to file under the Bankruptcy and Insolvency Act. This is on top of at least 18 companies that filed under CCAA and the Bankruptcy Act last year.

, while shares of rival cannabis producer Canopy Growth Corp.“Licenced producer fundamentals, on average, remain challenging, with cash burn an issue for most companies, as well as deflationary pressure in the Canadian market,” Pablo Zuanic, managing partner of cannabis equity research firm Zuanic & Associates, said in an e-mail.

The company’s application for creditor protection states it is facing a “liquidity crisis” and would not be able to meet its obligations if it continues with business as usual. BJK Holdings, the company’s senior secured lender, said it is no longer willing to continue supporting the company and demanded payment of its debt on April 1.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tilray shares sink after it reports US$105M Q3 loss and cuts adjusted EBITDA guidanceShares of cannabis company Tilray Brands Inc. were down more than 20 per cent after it reported its latest quarterly results and cut its full-year guidance.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Tilray shares sink after it reports US$105M Q3 loss and cuts adjusted EBITDA guidanceLEAMINGTON, Ont. — Shares of cannabis company Tilray Brands Inc. were down nearly 20 per cent after it reported its latest quarterly results and cut its full-year guidance. Tilray shares were down 67 cents at $2.
Source: SooToday - 🏆 8. / 85 Read more »

Tilray reports US$105M Q3 loss, net revenue up, cuts adjusted EBITDA guidanceCannabis company Tilray Brands Inc. reported a loss of US$105.0 million in its latest quarter as its net revenue rose nearly 30 per cent compared with a year earlier.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Tilray reports US$105M Q3 loss, net revenue up, cuts adjusted EBITDA guidanceLEAMINGTON, Ont. — Cannabis company Tilray Brands Inc. reported a loss of US$105.0 million in its latest quarter as its net revenue rose nearly 30 per cent compared with a year earlier.
Source: SooToday - 🏆 8. / 85 Read more »