Tilray Inc Stock Research

Market Summary

USD2.58+0.22

Market Closed

9.32%

TLRY Stock Price

TLRY RSI Chart

TLRY Valuation

Market Cap

1.6B

Price/Earnings (Trailing)

-2.74

Price/Sales (Trailing)

2.63

EV/EBITDA

-3.21

Price/Free Cashflow

-18.84

TLRY Price/Sales (Trailing)

TLRY Profitability

EBT Margin

-90.10%

Return on Equity

-12.93%

Return on Assets

-10.56%

Free Cashflow Yield

-5.31%

TLRY Fundamentals

TLRY Revenue

Revenue (TTM)

602.5M

Revenue Y/Y

-7.1%

Revenue Q/Q

-5.92%

TLRY Earnings

Earnings (TTM)

-577.9M

Earnings Y/Y

-34.5K%

Earnings Q/Q

5.47%

Price Action

52 Week Range

2.289.08

(Low)(High)

Last 7 days

-8.9%

Last 30 days

-17.8%

Last 90 days

-26.7%

Trailing 12 Months

-52.8%

TLRY Financial Health

Current Ratio

1.91

Debt/Equity

0.04

Debt/Cashflow

-0.95

TLRY Investor Care

Shares Dilution (1Y)

19.40%

Diluted EPS (TTM)

-1.05

Peers (Alternatives to Tilray)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
JNJ	404.8B	94.9B	-5.16%	-10.64%	22.56	4.26	1.25%	-14.07%
LLY	296.8B	28.5B	-5.67%	20.74%	47.53	10.4	0.79%	11.88%
MRK	272.8B	59.3B	-1.75%	40.02%	17.88	4.63	21.72%	11.27%
PFE	226.4B	100.3B	-8.43%	-20.95%	7.22	2.26	23.43%	42.74%
BMY	142.7B	46.2B	-7.78%	-1.12%	22.55	3.09	-0.49%	-9.54%
MID-CAP
PRGO	4.8B	4.5B	-0.20%	-5.41%	-34.17	1.08	7.56%	-104.06%
RETA	3.3B	2.2M	105.10%	171.03%	-10.52	1.5K	-80.71%	-4.88%
SMALL-CAP
SUPN	1.9B	667.2M	-9.96%	17.66%	31.57	2.87	15.09%	13.64%
TLRY	1.6B	602.5M	-17.77%	-52.80%	-2.74	2.63	18.18%	-18.59%
CGC	991.7M	478.9M	-11.35%	-65.42%	-0.32	2.07	-31.50%	-634.70%
INVA	792.9M	285.2M	-7.22%	-37.95%	3.6	2.78	-27.21%	-40.28%
CRON	768.8M	114.5M	-15.28%	-37.42%	-4.56	6.72	27.90%	57.40%
ACRS	541.5M	29.8M	-40.95%	-47.43%	-6.23	18.2	340.05%	4.35%
OCUL	400.7M	51.5M	-2.49%	-0.39%	-5.64	7.78	18.32%	-984.05%
ENDP	94.1M	2.3B	-43.99%	-88.43%	-0.03	0.04	-22.53%	-376.66%

Financials for Tilray

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-1.8%	602,543,000	613,560,000	628,372,000	617,283,000	509,866,400
Gross Profit	6.4%	121,834,000	114,476,000	116,817,000	146,048,000	120,142,400
Operating Expenses	0.5%	681,988,000	678,368,000	727,218,000	364,395,000	359,310,000
S&GA Expenses	1.2%	37,624,000	37,165,000	34,926,000	33,808,000	32,848,800
R&D Expenses	-38.9%	549,000	899,000	1,518,000	1,822,000	2,389,600
EBITDA	-20.4%	-434,078,000	-360,604,000	-285,803,000	-	-
EBITDA Margin	-22.6%	-0.72	-0.59	-0.45	-	-
Earnings Before Taxes	-15.7%	-542,889,000	-469,415,000	-440,674,000	59,286,000	-467,923,200
EBT Margin	-17.8%	-0.90	-0.77	-0.70	-	-
Net Income	-13.6%	-577,896,000	-508,634,000	-476,801,000	48,544,000	-487,296,000
Net Income Margin	-15.7%	-0.96	-0.83	-0.76	-	-
Free Cahsflow	35.6%	-83,974,000	-130,304,000	-177,262,000	-	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2022Q1
Assets	-2.1%	5,474	5,592	5,450	5,450	5,819
Current Assets	-10.6%	815	911	804	804	696
Cash Equivalents	-61.2%	190	491	416	416	279
Inventory	-1.5%	241	245	246	246	273
Net PPE	-	587	-	-	-	-
Goodwill	0.1%	2,621	2,618	2,641	2,641	2,835
Liabilities	-3.7%	991	1,029	1,008	1,008	1,158
Current Liabilities	56.1%	427	273	280	280	282
. Short Term Borrowings	-16.3%	15.00	18.00	18.00	18.00	17.00
Long Term Debt	-3.0%	186	191	-	-	-
LT Debt, Current	-5.5%	64.00	68.00	70.00	-	-
LT Debt, Non Current	-2.7%	118	121	-	-	-
Shareholder's Equity	-2.0%	4,470	4,563	4,441	4,399	4,627
Retained Earnings	-6.7%	-1,105	-1,036	-962	-962	-484
Additional Paid-In Capital	1.0%	5,697	5,641	5,382	5,382	5,111
Accumulated Depreciation	13.7%	167	147	-	-	-
Shares Outstanding	2.0%	613	601	533	533	481
Minority Interest	-66.0%	13.00	38.00	43.00	43.00	34.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	35.6%	-83.97	-130	-177	-148	-91.53
Share Based Compensation	-6.5%	38.00	41.00	36.00	33.00	27.00
Cashflow From Investing	-1829.9%	-278	-14.45	-21.53	333	260
Cashflow From Financing	-14.3%	223	260	128	-96.49	180

Risks for TLRY

What is the probability of a big loss on TLRY?

94.3%

Probability that Tilray stock will be more than 20% underwater in next one year

93.9%

Probability that Tilray stock will be more than 30% underwater in next one year.

91.5%

Probability that Tilray stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does TLRY drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Tilray was unfortunately bought at previous high price.

Drawdowns

Returns for TLRY

Cumulative Returns on TLRY

-16.3%

3-Year Cumulative Returns

Which funds bought or sold TLRY recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	new	-	73,705	73,705	-%
2023-03-15	B. Riley Wealth Advisors, Inc.	added	12.4	7,135	88,135	-%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-59.74	-262,011	169,989	-%
2023-03-06	Rockefeller Capital Management L.P.	added	2.92	-	57,000	-%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	unchanged	-	-200	14,800	0.01%
2023-03-01	Regal Investment Advisors LLC	sold off	-100	-45,000	-	-%
2023-02-27	Parallax Volatility Advisers, L.P.	reduced	-4.29	-45,023	654,977	-%
2023-02-24	NATIXIS	new	-	6,725	6,725	-%
2023-02-24	SRS Capital Advisors, Inc.	reduced	-92.73	-1,844	156	-%
2023-02-24	Garde Capital, Inc.	unchanged	-	-4,000	187,000	0.02%

Latest Funds Activity

Are funds buying TLRY calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own TLRY

No. of Funds

Tilray News

Schedule 13G FIlings of Tilray

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2023	hudson bay capital management lp	2.23%	14,006,029	SC 13G/A
May 25, 2021	kennedy brendan	2.9%	12,837,819	SC 13D/A
Feb 16, 2021	cvi investments, inc.	-	7,012,907	SC 13G/A
Feb 16, 2021	etf managers group, llc	4.08%	5,446,196	SC 13G/A
Feb 16, 2021	groh christian	229%	3,930,804	SC 13D/A
Feb 16, 2021	blue michael g.	906%	4,598,454	SC 13D/A
Feb 16, 2021	kennedy brendan	7.9%	12,782,843	SC 13D/A
Dec 07, 2020	etf managers group, llc	5.01%	6,690,462	SC 13G/A
Nov 16, 2020	etf managers group, llc	4.71%	6,282,498	SC 13G/A
Oct 16, 2020	kennedy brendan	10.1%	13,706,097	SC 13D/A

TLRY Fair Value

Tilray fair value in different scenarios

The table shows the Fair Value estimates for Tilray for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	1.93 -25.19%	2.06 -20.16%	2.43 -5.81%	3.11 20.54%	4.49 74.03%
Current Inflation	1.92 -25.58%	2.04 -20.93%	2.37 -8.14%	2.95 14.34%	4.14 60.47%
Very High Inflation	1.91 -25.97%	2.01 -22.09%	2.28 -11.63%	2.76 6.98%	3.73 44.57%

Historical Tilray Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Tilray

View All Filings

Date Filed	Form Type	Document
Mar 16, 2023	8-K	Current Report
Mar 07, 2023	8-K	Current Report
Feb 23, 2023	DEFA14A	DEFA14A
Feb 22, 2023	DEFA14A	DEFA14A
Feb 21, 2023	424B7	Prospectus Filed
Feb 21, 2023	8-K	Current Report
Feb 21, 2023	DEFA14A	DEFA14A
Feb 15, 2023	8-K	Current Report
Feb 13, 2023	SC 13G/A	Major Ownership Report
Feb 10, 2023	SC 13G	Major Ownership Report

Latest Insider Trading transactions for TLRY

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2022-11-07	Kennedy Brendan	sold	-1,322,760	3.7793	-350,000	-
2022-10-05	Kennedy Brendan	sold	-1,018,400	2.9097	-350,000	-
2022-09-06	Kennedy Brendan	sold	-1,128,020	3.2229	-350,000	-
2022-08-17	Merton Carl A	acquired	-	-	20,750	chief financial officer
2022-08-17	Merton Carl A	back to issuer	-44,651	4.06	-10,998	chief financial officer
2022-08-09	Hopkinson David G.	sold	-46,800	3.9	-12,000	-
2022-08-05	Kennedy Brendan	sold	-1,369,100	3.9117	-350,000	-
2022-08-03	Merton Carl A	acquired	-	-	23,089	chief financial officer
2022-08-03	Merton Carl A	sold (taxes)	-47,483	3.88	-12,238	chief financial officer
2022-07-27	SIMON IRWIN D	sold (taxes)	-354,043	3.26	-108,602	president and ceo

About Tilray

Irwin D. Simon

http://www.tilray.com/

2100

Tilray Brands Inc. engages in the research, cultivation, production, marketing, and distribution of medical cannabis products. It operates through five segments: Cannabis Business, Distribution Business, Beverage Alcohol Business, Wellness Business, and Business Under Development. The company provides medical and adult-use cannabis products; pharmaceutical and wellness products; beverage alcohol products; and hemp-based food and other wellness products. It offers its products to retailers, wholesalers, patients, physicians, pharmacies, clinics, hospitals, governments, and researchers. The company operates Tilray Medical, a medical platform that provides GMP-certified flowers, oils, vapes, edibles, and topicals. It has operations in Canada, the United States, Europe, Australia, New Zealand, Latin America, and internationally. The company was formerly known as Tilray, Inc. Tilray Brands Inc. was incorporated in 2018 and is headquartered in New York, New York.

TLRY Income Statement

2022-11-30

Consolidated Statements of Loss and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2022	Nov. 30, 2021	Nov. 30, 2022	Nov. 30, 2021
Net revenue	$ 144,136	$ 155,153	$ 297,347	$ 323,176
Cost of goods sold	104,012	122,387	208,609	239,455
Gross profit	40,124	32,766	88,738	83,721
Operating expenses:
General and administrative	41,672	33,469	82,180	82,956
Selling	9,669	9,210	19,340	16,642
Amortization	23,995	29,016	48,354	59,755
Marketing and promotion	8,535	7,120	15,783	12,585
Research and development	165	515	331	1,300
Change in fair value of contingent consideration	0	845	211	1,682
Litigation costs	2,815	1,080	3,260	2,274
Transaction (income) costs	5,064	7,040	(7,752)	31,425
Total operating expenses	91,915	88,295	161,707	208,619
Operating loss	(51,791)	(55,529)	(72,969)	(124,898)
Interest expense, net	(3,107)	(9,940)	(7,520)	(20,110)
Non-operating income (expense), net	(18,450)	65,595	(51,442)	115,292
(Loss) income before income taxes	(73,348)	126	(131,931)	(29,716)
Income taxes (benefit) expense	(11,713)	(5,671)	(4,502)	(909)
Net (loss) income	(61,635)	5,797	(127,429)	(28,807)
Total net income (loss) attributable to:
Stockholders of Tilray Brands, Inc.	(69,463)	(201)	(142,945)	(41,850)
Non-controlling interests	7,828	5,998	15,516	13,043
Other comprehensive loss, net of tax
Foreign currency translation loss	(24,597)	(32,367)	(84,889)	(133,139)
Unrealized loss on convertible notes receivable	(17,643)	(16,305)	(20,168)	(16,954)
Total other comprehensive loss, net of tax	(42,240)	(48,672)	(105,057)	(150,093)
Comprehensive loss	(103,875)	(42,875)	(232,486)	(178,900)
Total comprehensive income (loss) attributable to:
Stockholders of Tilray Brands, Inc.	(111,186)	(41,853)	(243,636)	(184,923)
Non-controlling interests	$ 7,311	$ (1,022)	$ 11,150	$ 6,023
Weighted average number of common shares - basic (in shares)	611,711,377	460,254,275	589,122,358	454,797,598
Weighted average number of common shares - diluted (in shares)	611,711,377	460,254,275	589,122,358	454,797,598
Net loss per share - basic (in dollars per share)	$ (0.11)	$ 0.00	$ (0.24)	$ (0.09)
Net loss per share - diluted (in dollars per share)	$ (0.11)	$ 0.00	$ (0.24)	$ (0.09)

TLRY Balance Sheet

2022-11-30

Consolidated Statements of Financial Position (Current Period Unaudited) - USD ($) $ in Thousands	Nov. 30, 2022	Mar. 31, 2022
Current assets
Cash and cash equivalents	$ 190,218	$ 415,909
Marketable Securities	243,286	0
Accounts receivable, net	89,705	95,279
Inventory	240,946	245,529
Prepaids and other current assets	50,550	46,786
Total current assets	814,705	803,503
Capital assets	539,124	587,499
Right-of-use assets	11,351	12,996
Intangible assets	1,214,842	1,277,875
Goodwill	2,621,401	2,641,305
Interest in equity investees	4,638	4,952
Long-term investments	8,211	10,050
Convertible notes receivable	255,310	111,200
Other assets	4,797	314
Total assets	5,474,379	5,449,694
Current liabilities
Bank indebtedness	15,304	18,123
Accounts payable and accrued liabilities	162,900	157,431
Contingent consideration	26,463	16,007
Warrant liability	12,670	14,255
Current portion of lease liabilities	6,976	6,703
Current portion of long-term debt	20,681	67,823
Deduct - current portion	181,511	0
Total current liabilities	426,505	280,342
Long - term liabilities
Lease liabilities	8,999	11,329
Long-term debt	152,150	117,879
Total convertible debentures payable, non current portion	223,295	401,949
Deferred tax liabilities	180,099	196,638
Other liabilities	185	191
Total liabilities	991,233	1,008,328
Commitments and contingencies (refer to Note 18)
Stockholders' equity
Common stock ($0.0001 par value; 990,000,000 shares authorized; 613,181,559 and 532,674,887 shares issued and outstanding, respectively)	61	53
Additional paid-in capital	5,697,466	5,382,367
Accumulated other comprehensive loss	(121,455)	(20,764)
Accumulated Deficit	(1,105,796)	(962,851)
Total Tilray Brands, Inc. stockholders' equity	4,470,276	4,398,805
Non-controlling interests	12,870	42,561
Total stockholders' equity	4,483,146	4,441,366
Total liabilities and stockholders' equity	$ 5,474,379	$ 5,449,694