Tilray Brands (TLRY.TO) traded 3.3% lower at last look in Nasdaq trading after reporting a wider loss in the fiscal third quarter ended Feb. 28.
The company posted a comprehensive loss of US$798.9 million, or US$0.87 per share, increasing from a loss of US$109.7 million, or US$0.12 per share. Net revenue fell to US$185.8 million from US$188.3 million while total operating expenses swelled to US$811.9 million from US$131.5 million.
Tilray expects tariffs won't impact the company's sales as its American beverage brands are solely manufactured and distributed within the U.S.
The company said its cannabis brands are produced domestically for Canadian consumers, while it manufactures medical cannabis brands and products in Europe for distribution across Europe and Australia.
"We see opportunities in the alcohol, cannabis, and wellness industries and believe these sectors are here to stay," said Irwin Simon, Tilray's chairman and CEO. "Tilray is relentlessly focused on building strong brands and developing innovative products to seize growth opportunities across all our businesses."
The company revised its fiscal 2025 revenue guidance to a range of US$850 million to US$900 million from the previous target of US$900 million to US$950 million, citing adjustments for constant currency and the impacts of the strategic initiatives and SKU rationalization.
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