Our last Trade To Black podcast, we took a look at the earnings reports of GTII and Trulieve. This episode, we breakdown Curaleaf (CSE: CURA), Canopy Growth (NASDAQ: CGC), and Tilray’s (NASDAQ: TLRY) latest earnings reports. Host Shadd Dales, lead financial writer Benjamin A. Smith and Anthony Varrell, millennial entrepreneur, prepare for a dive into these reports and what’s next for each company.
Curaleaf reports show a second quarter 2023 revenue of $338.6m, aligning with analysts’ estimates. This is an increase of 4% year-over-year, and adjusted EBITDA of $70m. This makes their adjusted gross margin and EBITDA 44% and 21% respectively. We’ll examine the report and takeaway from their earnings call. Also, how does their current cash position impact investors, given that they ended Q2 with $85m on the balance sheet?
Canopy, which was reporting their 2024 Q1 ending June 30th, 2023, reported news in the form of cost reductions to the tune of $47m this past quarter and sequential revenue growth from all business segments of the company. Tilray’s earnings report showed a jump of 20% in revenue since the same period last year and a 26.5% jump since the three months previous. They’ve been big in the news, especially with the announcement of them acquiring eight brands from Anheuser Busch.
The team will share thoughts on tax deferrals and liabilities, the state of consumer spending, and the industry itself. When evaluating the performance of these three cannabis companies, Tilray looks like it’s doing much better than Canopy. We’ll explain why, and then we’ll delve into some of the reasons why Canopy will never have the same degree of success.
When looking at the state of the industry, what is important to know about cash position and financing? You’ll find out when you tune into this episode of Trade To Black.