Shares of Tilray (TLRY) closed trading down up 0.36% ahead of the company's fourth-quarter earnings release after the closing bell Monday.
Analysts expect Tilray to report revenue of $14.14 million and a loss of 14 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.
Other cannabis producers are also gaining Monday.
Aphria (APHA) gained 6.5%.
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