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This statistic highlights Tilray’s Revenue by Region, reported on a quarterly basis from Q1 2017 onwards.
Tilray is a Canadian pharmaceutical and cannabis company. Tilray was founded in 2013. Tilray became the first medical cannabis producer in North America to trade on the NASDAQ in 2018. The company is focused on medical cannabis research, cultivation, processing, and distribution of cannabis products worldwide. The company manufactures and distributes hemp-based products through its subsidiary FHF Holdings Ltd (Manitoba Harvest). The portfolio of Manitoba Harvest includes Hemp Hearts, Hemp Oil, Hemp Yeah! granola, Hemp Yeah! protein powder and Hemp Bliss milk.
Tilray is headquartered in Toronto and has operations in Australia, New Zealand, Germany, Portugal, and Latin America. The majority of the revenue comes from operations in Canada and a small portion comes from its operations in other countries. Before 2019 more than 97% of the company’s revenue came from Canada. Since 2019 the percentage of revenue from other countries has been increasing and reached almost 48% of the total revenue. The company’s revenue increased by almost 287% in 2019 to reach $167 million by the end of the year.
Revenue from the United States stood at $4.22 million in the first quarter of 2020 and then went on to $10.73 million in the second quarter, $10.84 million in the third quarter, and then saw a huge slump in the last quarter to $-2.27 million. In 2020 operations in the United States earned the company $16.53 million in the first quarter.
Revenue from its major market in Canada was $5.03 million in the first quarter of 2017, $4.91 million in the second quarter, $4.19 million in the third quarter, and $4.65 million by the end of the fourth quarter. Revenue then increased in 2018 and went up to $7.61 million in the first quarter, $9.40 million in the second quarter, $8.75 million in the third quarter, and $14.10 million in the last quarter of the year. In 2019 the revenue shot up to $17 million in the first quarter, $30.33 million in the second quarter, $33.59 million in the third quarter and reached just a little less than $50 million by the end of the year. In 2020 the revenue went up to $29.49 million in the first quarter.
Revenue from other countries was $218,000 in the third quarter of 2017 and $466,000 in the fourth quarter, Revenue from other countries began to grow in 2018 and increased to $195,000 in the first quarter, $345,000 in the second quarter after which it crossed $1 million to reach $1.30 million in the third quarter and $1.43 million in the fourth quarter. Revenue then went up to $1.81 million in the first quarter of 2019, $4.85 million in the second quarter, $6.68 million in the third quarter, and then dropped by a huge margin to $-164,000 in the last quarter of 2019, and Revenue then went back up to $6.08 million in the first quarter of 2020.
The cannabis market is still a developing market and the companies that constitute the industry have a lot of potentials to grow.
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* Billed annually, local taxes extra.
* Local taxes extra.