Benzinga | Oct 7, 2021 07:47AM EDT

Tilray Clocks 43% Sales Growth In Q1

* Tilray Inc (NASDAQ:TLRY) has reported Q1 FY22 sales of $168 million, +43% Y/Y, missing the consensus of $172.6 million.

* The increase was driven by a 38% Y/Y growth in net cannabis revenue to $70 million.

* Q1 EPS loss $(0.08) came in line with expectations.

* Tilray reported a wider operating loss of $(68.5) million compared to $(8.5) million in the prior-year quarter, primarily due to amortization and transaction costs.

* Adjusted EBITDA reached $12.7 million, +58% Y/Y. Adjusted EBITDA normalized for Aphria's production costs is approximately $17 million.

* Gross profit increased 46% to $51 million from $35 million in the prior year quarter. Adjusted gross margin in the cannabis segment was at 43%.

* The company is on track for at least $80 million in cost savings from Aphria and Tilray business combination synergies.

* Related: Tilray CEO Received Nearly $30M In Compensation In Calendar 2021, $13.2M In Cash Bonuses...So Far.

* Price Action: TLRY stock is up 0.46% at $10.84 during the premarket session on the last check Thursday.