Welcome to our Cannabis Earnings series where we break down the latest earnings to help you focus on the most important topics.
Introduction
Tilray (TLRY) reported 2020 Q1 results that showed a stabilization around the current trend line. However, the business is still difficult to achieve profitability and positive cash flow without a step-change in its revenue. With the Canadian market struggling almost two years into legalization and the international markets slow to develop, we think the outlook remains tilted towards the downside in the near-term. Funding has also emerged as a concern