earnings.cc presents:
Tilray Brands reported a 26% increase in net revenue to $789 million for fiscal 2024, with significant growth in the cannabis and beverage-alcohol segments. They achieved record gross profit and reduced net convertible debt by $300 million. Both operating and net losses were significantly reduced, highlighting improved financial management and operational efficiency. The net loss for fiscal 2024 was $222.4 million, a substantial reduction from previous years. Importantly, Tilray is on a trajectory to profitability within quarters, driven by their strategic initiatives and cost-saving measures. These results underscore the company's successful diversification and leadership in cannabis, beverages, and wellness markets.
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