Canadian marijuana giant Tilray Brands, Inc. (NASDAQ:TLRY) (TSX:TLRY) reported Friday financial results for the first fiscal quarter ended August 31, 2022, with net revenue of $153.2 million, which compares to revenue of $168.02 million for the same period last year.
“Tilray Brands’ top and bottom-line results during the first quarter reflect successful realignment of the business to maximize revenue and market share gains across core business segments and geographies,” Irwin D. Simon, Tilray’s chairman and chief executive officer, stated. “Most notably, we are now the leader in net cannabis revenue worldwide, highlighted by medical cannabis leadership globally and adult-use cannabis market share primacy in Canada. These achievements affirm that, amid market disruption and macroeconomic challenges, we have leveraged our scale, marketing acumen and CPG expertise to deliver strong – and sustainable – top line growth.”
