Summary by Moomoo AI
On January 9, 2024, Tilray Brands, Inc., a global cannabis-lifestyle and consumer packaged goods company, reported its financial results for the second quarter of fiscal year 2024, which ended on November 30, 2023. The company announced a record net revenue of $194 million, marking a 34% increase over the same period in the previous year. The growth was attributed to a 35% increase in cannabis net revenue, a 117% surge in beverage alcohol net revenue, and a 12% rise in distribution net revenue. Despite the revenue growth, Tilray experienced a net loss of $46 million, which was an improvement from the $62 million net loss in the prior year quarter. The company also highlighted its strong financial liquidity position with approximately $261 million in cash and marketable securities. Tilray's CEO, Irwin...Show More