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Tilray Eyes Enormous European Cannabis Market

Tilray is positioning itself to become a major player as marijuana legalization continues to expand worldwide. In it’s recent earnings report, Tilray reported that its international sales have grown – among other exciting news.

Related: Is Tilray Stock a Buy?

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Other highlights from recent earnings include 20% net revenue increase, net income increase, 11th quarter of positive EBITDA, huge reduction in costs. However, the most exiting highlight is the fact that Tilray is currently the leading medical cannabis company in Europe with 20% market share in Germany alone.

“Our team is performing admirably under some trying conditions,” said CEO Irwin Simon on a long Monday morning conference call.

Tilray continues to clean up cost issues from legacy Canadian operations. Their acquisition of Aphria will help Tilray to achieve upwards of $80 million in annualized cost savings by the end of the company’s fiscal year, said financial chief Carl Merton, and another $20 million in the following fiscal year.

If Tilray can continue market dominance in Europe, we believe this cannabis stock will continue to outperform peers.

Tilray Eyes Enormous European Cannabis Market

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