Tilray, Inc. (Nasdaq: TLRY; TSX: TLRY), reported financial results for the fourth quarter ended May 31, 2021 today.

Q4 Financial Highlights

The results below include legacy-Aphria’s fiscal 2021 financial results and four weeks of Tilray and presented in USD. Given that anomaly, no meaningful comparisons to the previous quarter are available.

• Net Revenue: $142.2M
• Gross Profit: $22.5M
• Net Income: $33.6M
• Adj. EBITDA: $12.3M
• Cash/Equiv. On Hand: $488.5M

Management Commentary

Irwin D. Simon, Tilray’s Chairman, and Chief Executive Officer, stated:

• “...In a very short period of time since our business combination was finalized, we transformed and strengthened Tilray, delivered solid results amid continued COVID-19 lockdowns and restrictions, and achieved $35 million in synergies to date – well on our way to delivering $80 million in cost savings over the next 16 months...
• We look forward to accelerating and refining our business-level strategies and roadmaps and to ensuring unmistakable, measurable progress as we build the leading consumer-packaged-goods business in the cannabis industry.”

Q4 Operational Highlights

• On April 27, 2021, Tilray was named to TIME’s inaugural list of the TIME100 Most Influential Companies in the world.

Subsequent Operational Highlights

• Tilray has been gaining market share nationally in Canada month-over-month since April 2021.
• On June 8, 2021, Tilray launched its new medical cannabis brand, Symbios, across Canada, to offer patients a broader spectrum of medical cannabis formats and cannabinoid ratios at a better price point.
• On June 25, 2021, the company's leading Canadian cannabis brand, RIFF, launched new multi-pack of cannabis pre-rolls across Canada.
• On June 30, 2021, Tilray announced the first cross-brand product collaboration between Canadian craft-cannabis brand Broken Coast and SweetWater Brewing Company to launch U.S. distribution of “Broken Coast BC Lager” and introduction of the cannabis brand to consumers across the country.
• On July 7, 2021, Tilray announced the completion and shipment of the first successful EU GMP-certified medical cannabis harvest grown in Germany for German distribution.
• On July 12, 2021, SweetWater announced its West Coast expansion including a new Colorado Brewery and the opening of SweetWater Mountain Taphouse at Denver International Airport.
• On July 19, 2021, SweetWater announced the launch of 420 Imperial IPA, the first line extension off of its flagship 420 brand.

Stock Performance

As illustrated below, while the Tilray stock has advanced 64.5% so far in 2021, it had declined 21.1% as of last Friday but has rallied nicely today and is now +90.6% YTD and is now only down -8.6% since the end of June.