Tilray Brands Inc (NASDAQ: TLRY) shares are trading lower Thursday after the company reported earnings results that were down year-over-year.
Tilray said fiscal fourth-quarter revenue increased 8% year-over-year to $153.3 million. Full fiscal year 2022 revenue jumped 22% year-over-year to $628 million.
Tilray reported a quarterly earnings loss of 90 cents per share, which was down from earnings of 38 cents per share year-over-year.
"Over the past year, we have accelerated the optimization of our operations and sharpened execution against our most profitable core business opportunities in medical, adult-use, wellness, and beverage-alcohol across Canada, Europe, and the U.S.," said Irwin Simon, chairman and CEO of Tilray.
Tilray said it expects to generate between $70 million and $80 million of adjusted EBITDA in fiscal year 2023. The company also expects to be free cash flow positive in its operating business units in 2023.
Tilray is a global cannabis-lifestyle and consumer packaged goods company.
See Also: Video: The Most Discrete Way To Consume Cannabis? This Dosing Device Will Blow Your Mind
TLRY Price Action: Tilray has traded between $9.08 and $3 over a 52-week period.
The stock was down 1.53% at $3.21 at press time, according to data from Benzinga Pro.
Photo: NickyPe from Pixabay.
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