Can Tilray Really More Than Quadruple Its Annual Revenue by 2024?
When Canadian cannabis companies Tilray (NASDAQ: TLRY) and Aphria announced their merger in 2020, they estimated their pro forma revenue to be $685 million, referring to the combined entity as the "Largest Global Cannabis Company." However, the odds of it being the largest in terms of revenue over the coming year are slim. Many U.S.-based cannabis businesses could very well end up ahead.
But the company's management still has high hopes. On Tilray's recent earnings call, they said that their goal for 2024 is to hit $4 billion in revenue. Is that a pie-in-the-sky target that the company is likely to fall well short of, or should investors genuinely expect that level of growth from the business?
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Source Fool.com
