Tilray Q2 report sets stock on fire – up 15% in early morning trading

Tilray Inc. (TLRY) reported its second-quarter results after the close of trading Tuesday.

Fresh off its initial public offering in July, the Canada-based marijuana producer and researcher had a net loss of $12.8 million, or 17 cents a share, compared with a loss of $2.4 million, or one penny a share, for the same quarter a year before. Analysts polled by Thomson Reuters were looking for a loss of 9 cents a share.  Revenue rose 95% to $9.7 million, ahead of the consensus forecast of $9 million.

 Average net selling price per gram increased to $6.38 from $6.20, primarily due to growth in higher-potency product and extract sales.
The company has signed agreements to supply adult-use cannabis to consumers in seven Canadian provinces and territories. Tilray medical cannabis products are now available in 11 countries.

Fresh off its initial public offering in July, the Canada-based marijuana producer and researcher had a net loss of $12.8 million, or 17 cents a share, compared with a loss of $2.4 million, or one penny a share, for the same quarter a year before. Analysts polled by Thomson Reuters were looking for a loss of 9 cents a share.

Revenue rose 95% to $9.7 million, ahead of the consensus forecast of $9 million.
Average net selling price per gram increased to $6.38 from $6.20, primarily due to growth in higher-potency product and extract sales.
The company has signed agreements to supply adult-use cannabis to consumers in seven Canadian provinces and territories. Tilray medical cannabis products are now available in 11 countries.

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