Tilray Q3 revenue $145.6M, adjusted EBITDA $14M; acquires HEXO for ~$56M

Tilray Brands, Inc.

Net revenue $145.6M, up from $144.1M prior quarter; constant-currency revenue $154.2M (+2% YoY).
Adjusted EBITDA $14.0M, 16th consecutive positive quarter; reiterated FY23 adjusted EBITDA guidance of $60-66M.
Acquires 100% of HEXO Corp. for ~$56M in stock (0.4352 Tilray shares per HEXO share); expected close June 2023.
Pro-forma Canadian cannabis market share of 12.9% and #1 position; net sales ~$215M from combined Canadian operations.
Cash and marketable securities $408.3M; reiterated positive free cash flow from operating segments in FY23.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Tilray Brands, Inc. reported third fiscal quarter ended February 28, 2023 results: revenue $145.6 million. Guidance reaffirmed.

Period: third fiscal quarter ended February 28, 2023
Revenue: $145.6 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Delivered $145.6 Million in Net Revenue and 16 th Consecutive Quarter of Positive Adjusted EBITDA Maintained #1 Cannabis Market Share Position in Canada, the Largest Federally Legal

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Source: SEC EDGAR

accession 0001171843-23-002224

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