Namely, can one stomach the profit risk from a high-growth cannabis company like Tilray? On Tuesday, Aug. 28, the company reported that second-quarter sales surged 95.2% from the prior year to $9.7 million. Analysts were looking for sales of $9 million. Sales were fueled by patient demand in Canada, sales to other licensed producers and growth overseas. Total kilogram equivalents sold and average selling prices rose 97% and 2.9%, respectively.
Tilray's loss per share came in at 17 cents, wider than a loss of 1 cent last year. Analysts anticipated a loss of 9 cents a share. The net loss included non-cash compensation charges of $5.6 million. Tilray didn't issue an adjusted per share figure.
"We are very pleased with our strong start to 2018. Tilray is well-positioned to continue to pioneer the development of the global medical cannabis market and to become a leader in the adult-use cannabis market in Canada," said Tilray CEO Brendan Kennedy.
Interested in cannabis investing? You won't want to miss the 'Green Market Summit on the Economics of Cannabis' on Sept. 14. Quickly register here.