Tilray Brands, Inc.. (NASDAQ:TLRY) shares climbed in Thursday's extended trading after the company released its second-quarter earnings report, beating expectations on the top and bottom lines.
Here's a look at the key figures from the quarter.
The Details: Tilray Brands reported quarterly earnings of one cent per share, which beat the Street estimate for a loss of 20 cents.
Quarterly revenue came in at $217.51 million, which beat the consensus estimate of $210.95 million.
“We achieved another record quarter with net revenue reaching $218 million, a result of disciplined execution within our diversified portfolio spanning cannabis, beverage, wellness and distribution sectors,” Irwin D. Simon, Tilray CEO, commented.
Simon also commented on Tilray’s new subsidary, Tilray Medical U.S.
“As the U.S. regulatory landscape progresses, Tilray is prepared to leverage its experience to play a key role in building a responsible, research-oriented national medical cannabis industry,” Simon said.
“With a dedicated team and platform already in place with Tilray Medical U.S., we intend to leverage the infrastructure, expertise and know-how developed in conjunction with Tilray Medical’s expected $150 million global medical cannabis business and our $300 million Tilray Pharma medical distribution platform in order to rollout our repeatable medical model and expand upon our current research, as well as initiating new FDA trials and partnerships for product development,” he added.
TLRY Stock Price: According to data from Benzinga Pro, Tilray stock rose 7.01% to $9.77 in Thursday's extended trading.
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