Home Actualité internationale World news – California – Tilray Cannabis revenue increased 4 percent sequentially to $ 31 4 million
Actualité internationale

World news – California – Tilray Cannabis revenue increased 4 percent sequentially to $ 31 4 million

Tillray, Inc Announces Third Quarter 2020 Results Total revenue $ 51 4 million was flat compared to Q3 2019 and over 20% compared to Q2 2020 - excluding combined sales in the previous year period, total revenue increased 25% of total annual savings That amounted to nearly $ 55 million USD for #TLRY

Nanaimo, British Columbia, 09 Nov 2020– (BUSINESS WIRE) –Tilray, Inc (“Tilray” or “The Company”) (Nasdaq: TLRY), a global leader in cannabis research and cultivation In its production and distribution, reports are provided on the financial results for the third quarter ending on September 30, 2020 All financial information contained in this press release has been reported in US dollars, unless otherwise indicated

Our third quarter results illustrate the significant progress we have made across the organization despite the unprecedented challenges posed by the COVID-19 pandemic We have achieved robust year-on-year revenue growth in our core business and achieved a significantly more focused, efficient and competitive cost structure, All of which are Tilray’s focus for future success. We look to build on these achievements and remain focused on our goal of achieving a neutral or positive adjusted before interest, tax, depreciation and amortization in the fourth quarter

Given the wide-ranging improvements we’ve made during the third quarter of 2020, we believe we are poised to achieve positive earnings or even adjusted EBITDA in the fourth quarter of 2020 and looking to 2021, we are optimistic about our business outlook. Basic including:

Tilray’s diversified product offerings and geographic footprint provide us with these strategic advantages. These strategic advantages provide us with a great and continuous opportunity to reinforce our position as the most trusted hemp and hemp company through 2021

As COVID-19 continues to spread around the world, and governments and companies take unprecedented measures in response, actions taken, or that may be taken, may have a material negative impact on our business, operating results, financial condition and price. The stock due to COVID-19, governments have imposed restrictions on travel and business operations, companies have temporarily closed, and implemented quarantines and requests for shelter in place. Thus, the COVID-19 pandemic has negatively affected global economic activity, causing great fluctuations and disruption in global financial markets, and the introduction of In general a state of uncertainty and unpredictability around the world

Our business has been adversely affected during the year 2020, due to restrictions imposed or temporary closure of retail outlets, the challenges faced by patients who arrive at clinics and doctors to obtain prescriptions for our products and due to the vast majority of our employees working remotely. We continue to operate our manufacturing facilities at normal production levels while Our administrative offices remain closed We have taken all recommended measures to protect the public health, health and safety of employees and continue to work to safely reopen our offices, in accordance with local rules and regulations

We cannot predict the future impacts of COVID-19 on our operational and financial performance The nature and extent of any impacts are highly uncertain and depend on many factors beyond our control, including the timing, extent and duration of the epidemic, development and availability of effective treatments and vaccines, and enforcement of safety measures. Preventive measures, the impact of the epidemic on the global economy and the demand for our products

Tillray will host a conference call to discuss these findings today at 5:00 p.m. ET Investors interested in participating in the live call can call 877-407-0792 from U Q and 201-689-8263 internationally

There will also be a simultaneous webcast available in the investors section of the company’s website at www. Telraicom. The webcast will also be archived after the call ends

Tilray (NASDAQ: TLRY) is a world leader in the research, cultivation, production and distribution of hemp and cannabinoids, currently serving tens of thousands of patients and consumers in 15 countries across five continents

To supplement its financial statements, the company provides investors with information regarding adjusted EBITDA and adjusted gross margin, both of which exclude inventory valuation adjustments, which are financial measures that are not accounted for according to generally accepted accounting principles in the United States. Countries (“U x GAAP”)

Adjusted EBITDA is calculated as net income (loss) before inventory valuation adjustments; Interest expense, net; Other expenses (income), net; Deferred income tax expense (recoveries), current income tax expense (benefit); Foreign exchange gain (loss), net; Depreciation and amortization expenses; Compensation expenses based on inventory; Loss on equity method investments; Finance income from ABG; Loss on disposal of property and equipment; Amortization of excess inventory; Separation costs depreciation of assets; The change in fair value of the guarantee liability is provided a reconciliation between adjusted earnings before interest, taxes, depreciation and amortization of debt to net loss, which is the most directly comparable GAAP measure. In the financial statements tables listed below in this press release the gross margin is calculated, excluding inventory valuation adjustments. , As revenue minus cost of sales adjusted for adding inventory valuation adjustments and inventory excess amortization divided by revenue A gross margin adjustment, excluding inventory valuation adjustments, is provided with gross margin, which is the most directly comparable measure, in the financial statements tables listed below in this press release.

The company believes that these non-GAAP financial measures provide useful information to management and investors regarding some financial and business trends related to the company’s financial position and results of operations. Management uses these non-GAAP financial standards to compare the company’s performance with period performance. Previous trend analysis and planning purposes. These non-GAAP financial measures are also presented to the company’s board of directors.

Non-affiliated with US GAAP standards should not be considered a substitute for, or higher, financial measures computed in accordance with US GAAP Non-US GAAP standards exclude substantial expenditures required by US GAAP are recorded in the company’s financial statements and are subject to inherent limitations

p>

Precede the crowd with a subscription to 420 Investor, &’s largest premium subscription service for cannabis dealers and investors since 2013

Download the free « New Cannabis Ventures » app from the iOS App Store or Google Play and get instant notifications directly on your phone regarding the latest breaking and exclusive news published

Contribute original content and sponsor only good news for the most promising cannabis companies and the most influential investors

NASDAQ: TLRY, Earnings, NASDAQ, Stock

World News – CA – Tilray Cannabis revenue increased 4% sequentially to $ 31 4M


SOURCE: https://www.w24news.com

[quads id=1]