Tilray Brands Could Finally Be On a Path to Profitability, and It's All Thanks to This Strategic Move
Posting true, unadjusted accounting profits in the cannabis industry is no small feat. That's especially true in Canada, where competition is fierce due to a growing number of competitors. One Canadian-based cannabis company that has been showing significant progress in strengthening its financials is Tilray Brands (NASDAQ: TLRY).
While the company has often posted positive adjusted earnings numbers, it finally looks like it may be on track to stay in the black on an unadjusted basis as well. That's a promising development, and it all goes back to one pivotal strategic move the company has made.
On July 29, Tilray reported its fourth-quarter results for the period ended May 31. Not only did the company achieve solid revenue growth of 25% on a year-over-year basis with its top line hitting $229.9 million, it also had a big improvement in its bottom line. For the quarter, Tilray incurred a net loss of $15.4 million, compared with a loss of $119.8 million in the same period last year.
Source Fool.com
