Tilray Brands reports jump in revenue: CEO explains why the company has 'a lot of integration to do'

📆 5/10/2023 4:00 a. m.
📰 YahooFinanceCA

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Tilray Brands (TLRY) reported a 15 percent increase in overall net revenue in the first quarter, while losses narrowed to $56 million. In an interview with Yahoo Finance Live, Tilray Brands CEO Irwin Simon emphasized building top line revenue and targeting long-term profitability, saying, 'it took Tesla almost 20 years to be profitable, it took Amazon almost 9 years to be profitable.' Tilray Brands recently acquired eight beer brands from Anheuser-Busch (BUD), which Simon says will complement their existing portfolio and help drive the business toward being 'cash-flow positive.' 'We got a lot on our plate. We got a lot of integration to do,' Simon says adding, 'what i'm looking at this year in regards to hitting our numbers is top line growth, we have built into our plan to get a lot of synergies, and that's gonna come from putting these businesses together, taking no costs, and ultimately that's how we get to cash flow positive.' For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

) reported a 15 percent increase in overall net revenue in the first quarter, while losses narrowed to $56 million. In an interview with Yahoo Finance Live, Tilray Brands CEO Irwin Simon emphasized building top line revenue and targeting long-term profitability, saying,"it took Tesla almost 20 years to be profitable, it took Amazon almost 9 years to be profitable.

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