TLRY stock data

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FINRA relative short interest over last month (20 trading days) ?

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

11 May 20
1 Jun 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 52.1M 46.94M 51.1M 45.9M
Net income -184.12M -219.15M -36.35M -36.3M
Diluted EPS -1.73 -2.14 -0.37 -0.37
Net profit margin -353% -467% -71.14% -79.08%
Operating income -71.25M -216.62M -23.79M -32.96M
Net change in cash 77.2M -3.37M -84.39M -109.65M
Cash on hand 173.99M 96.79M 100.16M 184.55M
Cost of revenue 35.25M 33.63M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 166.98M 43.13M 20.54M 12.64M
Net income -321.17M -67.72M -7.81M -7.88M
Diluted EPS -3.2 -0.82 -0.1 -0.11
Net profit margin -192% -157% -38.02% -62.35%
Operating income -301.7M -57.65M -7.5M -7.05M
Net change in cash -390.46M 484.93M -5.21M
Cash on hand 96.79M 487.26M 2.32M 7.53M
Cost of revenue 28.86M 9.16M 9.97M

Financial data from Tilray earnings reports

Date Owner Security Transaction Code $Price #Shares $Value #Remaining
1 May 20 Auerbach Michael Class 2 Common Stock Sell Dispose S 7.3817 125,580 926.99K 385,885
1 May 20 Auerbach Michael Class 2 Common Stock Option exercise Aquire M 0.1913 18,290 3.5K 606,596
1 May 20 Auerbach Michael Class 2 Common Stock Option exercise Aquire M 0.1913 107,290 20.52K 588,306
1 May 20 Auerbach Michael Stock Option Class 2 Common Stock Option exercise Dispose M 0.1913 18,290 3.5K 3,168
1 May 20 Auerbach Michael Stock Option Class 2 Common Stock Option exercise Dispose M 0.1913 107,290 20.52K 0
1 May 20 Auerbach Michael Class 2 Common Stock Sell Dispose S 7.3817 95,131 702.23K 511,465
17 Apr 20 Pucher Andrew RSU Class 2 Common Stock Grant Aquire A 0 30,815 0 30,815
17 Apr 20 Pastorius Edward Wood JR RSU Class 2 Common Stock Grant Aquire A 0 37,500 0 37,500
6 Apr 20 Auerbach Michael Class 2 Common Stock Other Aquire J 0 1,069 0 7,891
6 Apr 20 Auerbach Michael Class 2 Common Stock Other Dispose J 0 425,235 0 1,705,342
9.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 180 174 +3.4%
Opened positions 42 43 -2.3%
Closed positions 36 34 +5.9%
Increased positions 46 40 +15.0%
Reduced positions 34 36 -5.6%
13F shares
Current Prev Q Change
Total value 261.03M 656.59M -60.2%
Total shares 9.83M 10.59M -7.2%
Total puts 8.44M 6.09M +38.6%
Total calls 14.12M 5.52M +156.0%
Total put/call ratio 0.6 1.1 -45.9%
Largest owners
Shares Value Change
Etf Managers 3.07M $21.15M +8.5%
Mirae Asset Global Investments 1.66M $11.42M +3.8%
Anson Funds Management 1.03M $4.41M -18.2%
JPM JPMorgan Chase & Co. 942.88K $6.49M +66.9%
Jane Street 461.95K $3.18M +70.5%
Think Investments 226K $1.56M NEW
CIBC World Markets 201.01K $1.38M NEW
HBK Investments L P 185K $1.27M NEW
Creative Planning 141.13K $971K +336.2%
Citadel Advisors 129.3K $889K -58.7%
Largest transactions
Shares Bought/sold Change
Zevenbergen Capital Investments 0 -478.51K EXIT
Susquehanna International 58.79K -379.78K -86.6%
JPM JPMorgan Chase & Co. 942.88K +378.11K +66.9%
MS^L Morgan Stanley 108.6K -325.77K -75.0%
Etf Managers 3.07M +240.56K +8.5%
Anson Funds Management 1.03M -228.5K -18.2%
Think Investments 226K +226K NEW
WINTON 0 -208.29K EXIT
Newtyn Management 0 -205.1K EXIT
CIBC World Markets 201.01K +201.01K NEW

Financial report summary

?
Competition
Constellation Brands
Risks
  • The COVID-19 pandemic has developed rapidly, resulting in government ordered closures of significant portions of the global economy, including in the United States, Canada, Portugal, and Germany, places in which we conduct significant business, and could adversely affect our ability to conduct normal business operations, and harm our business and future results of operations and financial condition.
  • COVID-19 has coincided with periods of significant volatility in global financial, commodities and other markets, resulting in global recessionary conditions, which could adversely affect our business, future results of operations and financial condition.
  • The adult-use cannabis industry, and the regulations governing this industry (included recently amended Canadian regulations, or Cannabis 2.0), may develop in a way that is significantly different from our current expectations, resulting in our decreased ability, or inability, to compete in this market and industry.
  • Any failure on our part to comply with supplier standards established by provincial or territorial distributors could prevent us from accessing certain markets in Canada.
  • The adult-use cannabis market in Canada is continuing to develop and may experience supply fluctuations resulting in revenue and price decreases.
  • The illicit supply of cannabis and cannabis-based products may reduce our sales and impede our ability to succeed in the medical and adult-use cannabis markets.
  • Cannabis 2.0 allows for new and untested Cannabis products and form factors, and we may ultimately be unsuccessful in developing and offering these new products in our Canadian markets.
  • In connection with the amended Canadian adult-use regulations which became effective October 17, 2019 and permitted new classes of cannabis on December 16, 2019, we will now offer cannabis-only vape products in Canada. The vape market is a niche market that remains subject to a great deal of uncertainty and is still evolving. Recent negative public sentiment and regulatory scrutiny of vaporizing in the United States may cause Health Canada to further limit usage and diminish Canadian consumer demand for our cannabis vape products.
  • The adult-use cannabis industry and market in Canada is subject to many of the same risks as the medical cannabis industry and market, including risks related to our need for regulatory approvals, the early status and uncertain growth of this industry and the competition we expect to face in this industry.
  • We may be unsuccessful in competing in the legal adult-use cannabis market in Canada.
  • We are dependent upon regulatory approvals and licenses for our ability to grow, process, package, store, sell and export medical cannabis and other products derived therefrom, and these regulatory approvals are subject to ongoing compliance requirements, reporting obligations and fixed terms requiring renewal.
  • The laws, regulations and guidelines generally applicable to the medical cannabis industry in Canada, Europe and other countries may change in ways that impact our ability to continue our business as currently conducted or proposed to be conducted.
  • Any failure on our part to comply with applicable regulations could prevent us from being able to carry on our business.
  • Our ability to produce and sell our medical products in, and export our medical products to, other jurisdictions outside of Canada is dependent on compliance with additional regulatory and other requirements.
  • The long-term effect of the legalization of adult-use cannabis in Canada on the medical cannabis industry is unknown (including recently amended Canadian cannabis regulations, or Cannabis 2.0), and may have a significant negative effect upon our medical cannabis business if our existing or future medical use customers decide to purchase products available in the adult-use market instead of purchasing medical use products from us.
  • There has been limited study on the effects of medical cannabis and future clinical research studies may lead to conclusions that dispute or conflict with our understanding and belief regarding the medical benefits, viability, safety, efficacy, dosing and social acceptance of cannabis.
  • The medical cannabis industry and market are relatively new, and this industry and market may not continue to exist or develop as anticipated or we may ultimately be unable to succeed in this industry and market.
  • We compete for market share with other companies, including other producers licensed by Health Canada, some of which have longer operating histories and more financial resources and manufacturing and marketing experience than we have.
  • We have a limited operating history and a history of net losses, and we may not achieve or maintain profitability in the future.
  • We are exposed to risks relating to the laws of various countries as a result of our international operations.
  • We may be unable to sustain our revenue growth and development, and may be forced to adjust our operations accordingly.
  • Our business is subject to a variety of United States and foreign laws, many of which are unsettled and still developing and which could subject us to claims or otherwise harm our business.
  • We are required to comply concurrently with federal, state or provincial, and local laws in each jurisdiction where we operate or to which we export our products.
  • United States regulations relating to hemp-derived CBD products are unclear and rapidly evolving.
  • We may seek to enter into strategic alliances, or amend or expand the scope of currently existing relationships, with third parties that we believe will have a beneficial impact on us, and there are risks that such strategic alliances or expansions of our currently existing relationships may not enhance our business in the desired manner.
  • We may not be able to successfully identify and execute future acquisitions, dispositions or other equity transactions or to successfully manage the impacts of such transactions on our operations.
  • We are subject to risks inherent in an agricultural business, including the risk of crop failure.
  • We depend on significant customers for a substantial portion of our revenue. If we fail to retain or expand our customer relationships or if this significant customer were to terminate its relationship with us or reduce its purchases, our revenue could decline significantly.
  • We may be unable to attract or retain key personnel with sufficient experience in the cannabis industry, and we may be unable to attract, develop and retain additional employees required for our development and future success.
  • Significant interruptions in our access to certain supply chains, including recently as a result of COVID-19, for key inputs such as raw materials, electricity, water and other utilities may impair our cannabis growing operations.
  • We may require third party supply of quality cannabis flower to meet consumer demand or regulatory requirements, which may adversely affect our cost of goods sold and subject us to unreliable supply chains or product quality.
  • Fluctuations in cannabinoid prices relative to contracted prices with third party suppliers could negatively impact our earnings.
  • We may not be able to transport our cannabis products to consumers in a safe and efficient manner.
  • Our cannabis products may be subject to recalls for a variety of reasons, which could require us to expend significant management and capital resources.
  • We may be subject to product liability claims or regulatory action if our products are alleged to have caused significant loss or injury. This risk is exacerbated by the fact that cannabis use may increase the risk of serious adverse side effects.
  • We rely on third-party distributors to distribute our products, and those distributors may not perform their obligations.
  • We, or the cannabis industry more generally, may receive unfavorable publicity or become subject to negative consumer or investor perception.
  • Certain events or developments in the cannabis industry more generally may impact our reputation.
  • Licensed Producers are constrained by law in their ability to market their products in Canada.
  • If we are not able to comply with all safety, health and environmental regulations applicable to our operations and industry, we may be held liable for any breaches of those regulations.
  • We may not be able to obtain adequate insurance coverage in respect of the risks our business faces, the premiums for such insurance may not continue to be commercially justifiable or there may be coverage limitations and other exclusions which may result in such insurance not being sufficient to cover potential liabilities that we face.
  • We may become subject to liability arising from any fraudulent or illegal activity by our employees, contractors, consultants and others.
  • We may experience breaches of security at our facilities or loss as a result of the theft of our products.
  • We may be subject to risks related to our information technology systems, including the risk that we may be the subject of a cyber-attack and the risk that we may be in non-compliance with applicable privacy laws.
  • We may be unable to expand our operations quickly enough to meet demand or manage our operations beyond their current scale.
  • The cannabis industry continues to face significant funding challenges, and we may not be able to secure adequate or reliable sources of funding required to operate our business or increase our production to meet consumer demand for our products.
  • Our senior secured credit facility contains covenant restrictions that may limit our ability to operate our business.
  • Servicing our debt will require a significant amount of cash, and we may not have sufficient cash flow from our business to pay our substantial debt.
  • We incur increased costs as a result of operating as a public company and our management is required to devote substantial time to compliance initiatives.
  • Management may not be able to successfully implement adequate internal controls over financial reporting.
  • Conflicts of interest may arise between us and our directors and officers as a result of other business activities undertaken by such individuals.
  • Third parties with whom we do business may perceive themselves as being exposed to reputational risk as a result of their relationship with us.
  • Tax and accounting requirements may change in ways that are unforeseen to us and we may face difficulty or be unable to implement or comply with any such changes.
  • Because a significant portion of our sales are generated in Canada, fluctuations in foreign currency exchange rates could harm our results of operations.
  • We may have exposure to greater than anticipated tax liabilities, which could seriously harm our business.
  • The long-term effect of United States tax reform or the recently enacted CARES Act could adversely affect our business and financial condition.
  • We may be subject to risks related to the protection and enforcement of our intellectual property rights, or intellectual property we license from others, and may become subject to allegations that we or our licensors are in violation of intellectual property rights of third parties.
  • We license some intellectual property rights, and the failure of the owner of such intellectual property to properly maintain or enforce the intellectual property underlying such licenses could have a material adverse effect on our business, financial condition and performance.
  • We may not realize the full benefit of the clinical trials or studies that we participate in because the terms of some of our agreements to participate do not give us full rights to the resulting intellectual property, the ability to acquire full rights to that intellectual property on commercially reasonable terms or the ability to prevent other parties from using that intellectual property.
  • We may not realize the full benefit of our licenses if the licensed material has less market appeal than expected, or if restrictions on packaging and marketing hinder our ability to realize value from our licenses, and our licenses may not be profitable to us.
  • Holders of Class 2 common stock have limited voting rights as compared to holders of Class 1 common stock. We cannot predict the impact that our capital structure and concentrated control may have on the market price of our Class 2 common stock.
  • The price of our Class 2 common stock in public markets has experienced and may experience severe fluctuations.
  • Future sales or distributions of our securities could cause the market price for our Class 2 common stock to fall significantly.
  • The terms of our recently issued warrants limit our ability to raise additional equity capital or pursue acquisitions, which may result in us having insufficient funds to operate our business.
  • If securities or industry analysts do not publish research, or publish inaccurate or unfavorable research, about our business, our stock price and trading volume could decline.
  • We may not have the ability to raise the funds necessary to settle conversions of the convertible notes in cash or to repurchase the convertible notes upon a fundamental change, and our future debt may contain limitations on our ability to pay cash upon conversion or repurchase of the convertible notes.
  • The conditional conversion feature of the convertible notes, if triggered, may adversely affect our financial condition and operating results.
  • Holders of our Class 2 common stock may be subject to dilution resulting from future offerings of common stock by us.
  • Conversion of the convertible notes may dilute the ownership interest of our stockholders or may otherwise depress the price of our Class 2 common stock.
  • Provisions in our corporate charter documents could make an acquisition of us more difficult and may prevent attempts by our stockholders to replace or remove our current management.
  • Certain jurisdictions may take positions adverse to investments in, or investors themselves, in cannabis companies.
  • Certain provisions in the indenture governing the convertible notes may delay or prevent an otherwise beneficial takeover attempt of us.
  • Our amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware and the federal district courts of the United States of America will be the exclusive forums for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
Management Discussion
  • Financial data is expressed in thousands of United States dollars.
  • We evaluate revenue by product channel and category.
  • N/A:  Not a meaningful percentage.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. senior Avg
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