(Leamington) Tilray Brands on Wednesday posted a first quarter loss of US$55.9 million, down from US$65.8 million in the same period last year, as its revenues rose 15%.
The cannabis producer’s loss per share amounted to 10 US cents for the quarter ended August 31, compared to 13 US cents for the same quarter last year.
Tilray’s net revenues totaled $176.9 million, up from $153.2 million a year earlier.
Tilray recently completed its acquisition of eight beer and beverage brands from Anheuser-Busch.
According to Tilray, this agreement allows it to become the fifth largest player in the American craft beer market.
Company in this dispatch: (TSX: TLRY)