Tilray Q4 F2018 Rundown – Dec. 31, 2018

Open up Fins and MDA and follow along. Tilray has decided to NOT break out Excise Tax in both Revenue and in CoGS.  Figures below are based on their reported sales unless noted otherwise, and in USD [save Peer Comparisons where we have converted USD to CAD].  This results in GM and Opex being understated as % of Sales [as sales is overstated] compared to peers. Sales: Tilray recorded sales of USD 15.5 million in Q4 versus Q3 USD 10 million. Tilray did not break out rec versus medical sales.  Below is the Delta by product segment and by geography. Both Dry Cannabis and…

Continue Reading
HEXO Q2F19 Jan 31, 2019 in Pictures

I thought I would try to tell the story of Hexo Q2 in pictures. Income Statement Drivers and Implied Breakeven TREND. Income Statement Drivers and Implied Breakeven PEER. Gross Margin % TREND & PEER Tier 2 LPs. Gross Margin Peer Comparison Latest Q - Full Peer Group TREND Analysis SGA & SBC as % of Sales. PEER Analysis SGA & SBC as % Sales. PEER: Implied Breakeven Sales divided by Current Sales. PEER: Implied Breakeven Sales to +EBITDA divided by Current Sales.

Continue Reading
Close Menu