B.C. cannabis producer Tilray reports Q4 revenue surge, deeper net loss
|CTVnews 18 Mar 2019 at 13:39|
NANAIMO, B.C. - Cannabis producer Tilray Inc. reported its fourth-quarter revenue surged by more than 200 per cent year-over year to US$15.5 million, but its net loss for the period also deepened.
The Nanaimo, B.C.-based company said its net loss for the quarter ended Dec. 31, 2018 amounted to US$31 million or 33 US cents per share, compared to a net loss of US$3 million or four US cents per share a year earlier.
Analysts had estimated quarterly revenues of US$14.15 million and a net loss of US$10.43 million or 12 US cents per share, according to those surveyed by Thomson Reuters Eikon.
The company s average net selling price per gram rose to US$7.52, up from US$7.13 during the same quarter one year earlier.
For the full 2018 financial year, Tilray reported revenue of US$43 million, up 110 per cent from the previous year, and net loss of US$67.7 million compared to US$7.8 million in 2017.