Cannabis company Tilray reports a loss of US $ 2.9M, $ 56.5M in revenue in Q4

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NANAIMO, BC – The U.S. suffered a $ 2.9-million loss in its most recent quarter, just as the company signed a blockchain deal to join rival Aphria Inc.

The Nanaimo, BC – based cannabis industry says net loss in the fourth quarter was down “significantly” from the U.S. net loss it reported $ 219.1 million in the same quarter a year earlier.

The loss for the period to December 31 amounted to 2 cents per U.S. share, compared to a loss of US $ 2.14 per share the previous year.

Financial markets data firm Refinitiv said analysts had expected Tilray, which keeps its books in U.S. dollars, to account for a loss of 14 cents per U.S. share.

Tilray says its revenue reached US $ 56.5 million, up from a previous US $ 46.9 million.

Tilray and Aphria announced in December that they would be joining forces later this year with Aphria CEO Irwin Simon to lead the new company that will work under the name Tilray.

This report by The Canadian Press was first published on February 17, 2021.

Companies in this story: (TSX: APHA)

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