By Canadian Press

Cannabis company Tilray reports Q2 loss grew to US$35.1M, revenue up

Aug 14, 2019 | 6:02 AM

NANAIMO, B.C. — Cannabis company Tilray Inc. reported a loss in its latest quarter as revenue soared compared with a year ago before legalization of the recreational market in Canada late last year.

The B.C.-based company, which keeps its books in U.S. dollars, says it lost US$35.1 million or 36 cents per share for the quarter ended June 30.

The result compared with a loss of $12.8 million or 17 cents per share in the same quarter last year.

Revenue totalled $45.9 million, up from $9.7 million.

Tilray says the total kilogram equivalents sold more than tripled to 5,588 kilograms from 1,514 kilograms in the prior year period.

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However, the average net selling price per gram fell to $4.61 compared with $6.38 a year ago due to a reduced mix of higher priced extract products.

The Canadian Press