Tilray’s Revenue from Dried Cannabis and Extracts (2017-2021)

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This statistic highlights Tilray’s Revenue from Dried Cannabis and Extracts starting from Q1 of 2017. Click here to know more about the statistic.
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This statistic highlights Tilray’s Revenue from Dried Cannabis and Extracts starting from Q1 of 2017.

Tilray Inc is a Canadian company in the pharmaceutical sector. They supply cannabis products to pharmaceutical distributors. The company is focused on research, cultivation, and distribution of medical cannabis products across the globe. Tilray became the first medical cannabis producer in North America to be GMP certified in December 2016. They were also the first cannabis-based company to be listed on the NASDAQ.

Tilray operates through two segments – cannabis and hemp. The cannabis segment consists of adult-use, medical, and bulk sales of cannabis which are sold to retail, wholesale, pharmacy, government, and direct to patients. The hemp segment consists of hemp seed, hemp foods, and board spectrum hemp extract which are sold to retail, wholesale, and direct to consumers. They serve customers not just in Canada but also in the United States, Germany, Portugal, Australia, and New Zealand. The major portion of the business is carried out in Canada but, the company is slowly moving towards expanding its business in other countries as well.

The revenue from selling cannabis extracts was $1.04 million in the first quarter of 2017, $960,000 in the second quarter, $1.01 million in the third quarter, and $1.28 million by the end of the last quarter. In 2018 the revenue went up to $3.19 million in the first quarter, $4.50 million in the second quarter, $5.22 million in the third quarter and reached $8.56 million by the end of the fourth quarter. The revenue from this segment continued to increase into 2020 and went up to $12.62 million in the first quarter, $24.04 million in the second quarter, $21.69 million in the third quarter, and $25.88 million by the end of the year. The revenue increased to an all-time high of $32.41 million in the first quarter of 2020.

The revenue from the sale of dried cannabis stood at $3.99 million in the first quarter of 2017 and then went on to $4.03 million in the second quarter, $4.40 million in the third quarter, and $4.20 million in the last quarter of the year. Revenue increased in 2018 to $4.62 million in the first quarter, $5.25 million in the second quarter, $4.83 million in the third quarter, and $7.06 million in the fourth quarter. Revenue saw a huge jump in 2019 to $10.42 million in the first quarter, $21.87 million in the second quarter, $29.41 million in the third quarter, and $21.05 million by the end of the year. The revenue from this segment saw a small drop in sales in 2020 to $19.70 million in the first quarter.

The cannabis market in Canada saw a huge boom in 2019 when the country decided to legalize the use of marijuana. The marijuana market serves a variety of uses, both medical and adult-use of marijuana has been gaining popularity in recent years. More and more countries are coming up with laws to legalize marijuana and thus providing an opportunity for these already established companies to expand their operations. We can see better growth in Tilray’s revenue in the coming years.

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