3 Key Metrics to Watch for Tilray Stock
After reporting its first-quarter earnings on Oct. 4, Tilray Brands (NASDAQ: TLRY) is as intriguing a company as ever. Between its roots as a marijuana cultivator and its new identity as a major craft beer distributor and brewer, its long-term outlook is quickly changing for the better.
But, as shareholders are probably tired of hearing, it's still beset by a handful of operational efficiency challenges that are preventing its shares from recovering. Those issues are likely to be solved eventually. Here are three of the key metrics to pay attention to with Tilray that will help you to know how it's developing and what's likely to be management's focus over the next few quarters.
Tilray's bread and butter is cannabis, which it grows and sells in North America and the European Union. But it has long struggled to sell cannabis products profitably. During its 2023 fiscal year ended May 31, it brought in $220 million from sales of cannabis, and its gross margin for cannabis was a baleful 26%. In its 2022 fiscal year, its gross margin on marijuana was even worse, at 18%.
Source Fool.com
