It's a critical time for Canadian cannabis company Tilray (TLRY) as the revenue projections for the company begin to ramp at ever steeper levels as the market for its product matures internationally.
The company is scheduled to report fourth-quarter results after the closing bell on Monday, March 18, and the expectations are for the company to report a 58% sequential jump in revenue.
Analysts expect Tilray to report revenue of $15.86 million and a loss of 15 cents per share. In the previous quarter, the reported revenue of $10.05 million and loss of 20 cents.
But that is only the beginning.
Tilray is expected to more than double revenue in the first quarter 2019 from the fourth quarter 2018. For fiscal 2019, Tilray is expected to increase revenue 350% from fiscal 2018.
That expected increase in revenue is tied to its purchase of fellow Canadian cannabis producer Natura Naturals for $26.3 million in late 2018. Tilray purchased Manitoba Harvest for $317 million in February, but the benefits from that purchase aren't expected to be reflected in Tilray's operations until it reports its first-quarter numbers.
Tilray recently was initiated at Jefferies with an underperform rating and initiated at Piper Jaffray at overweight.
Tilray shares have declined 4% year to date. The stock was up 0.7% Friday.
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