It says something about the sorry state of publicly traded Canadian cannabis companies that despite Tilray’s (TLRY) recent tepid FQ1 results, when measured against its underperforming peers, Jefferies’ Owen Bennett finds some comfort in the display. According to Bennett’s estimates, pro-forma adult-use sequential sales declined from roughly $55 million to $52.6 million, cannabis adj. GM fell QoQ from 44.5% to 43%, and adj. EBITDA margin also exhibited a drop - from 8.7% to 7.6%. Not a good look. However, Bennett says these figures “need to be put into context.
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Tilray Brands (NASDAQ:TLRY)
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Tilray Brands (NASDAQ:TLRY)
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