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10-Q Filing

Tilray Brands, Inc. CIK: 1731348 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001564590-21-050422
Period End Date 20210831
Filing Date 20211007
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance tlry-10q_20210831_htm.xml
Filing Contents
Balance Sheet 75 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $488.47M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $376.30M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $87.31M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $97.18M USD Point-in-time
Inventory InventoryNet $256.43M USD Point-in-time
Inventory InventoryNet $251.51M USD Point-in-time
Prepaids and other current assets PrepaidExpenseAndOtherAssetsCurrent $48.92M USD Point-in-time
Prepaids and other current assets PrepaidExpenseAndOtherAssetsCurrent $117.27M USD Point-in-time
Convertible notes receivable ConvertibleNotesReceivableCurrent $2.37M USD Point-in-time
Convertible notes receivable ConvertibleNotesReceivableCurrent $2.48M USD Point-in-time
Total current assets AssetsCurrent $883.61M USD Point-in-time
Total current assets AssetsCurrent $844.62M USD Point-in-time
Capital assets CapitalAssets $650.70M USD Point-in-time
Capital assets CapitalAssets $621.34M USD Point-in-time
Right-of-use assets OperatingLeaseRightOfUseAsset $18.27M USD Point-in-time
Right-of-use assets OperatingLeaseRightOfUseAsset $17.78M USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $1.61B USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $1.50B USD Point-in-time
Goodwill Goodwill $2.83B USD Point-in-time
Goodwill Goodwill $2.81B USD Point-in-time
Interest in equity investees InterestInEquityInvestees $8.11M USD Point-in-time
Interest in equity investees InterestInEquityInvestees $4.06M USD Point-in-time
Long-term investments LongTermInvestments $17.68M USD Point-in-time
Long-term investments LongTermInvestments $186.41M USD Point-in-time
Other assets OtherAssetsNoncurrent $198.00K USD Point-in-time
Other assets OtherAssetsNoncurrent $8.29M USD Point-in-time
Total assets Assets $6.03B USD Point-in-time
Total assets Assets $5.99B USD Point-in-time
Bank indebtedness ShortTermBorrowings $8.72M USD Point-in-time
Bank indebtedness ShortTermBorrowings $9.20M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $212.81M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $190.21M USD Point-in-time
Contingent consideration BusinessCombinationContingentConsiderationLiabilityCurrent $61.49M USD Point-in-time
Contingent consideration BusinessCombinationContingentConsiderationLiabilityCurrent $60.66M USD Point-in-time
Warrant liability WarrantLiabilityCurrent $60.48M USD Point-in-time
Warrant liability WarrantLiabilityCurrent $78.17M USD Point-in-time
Escrow payable EscrowPayableCurrent $170.80M USD Point-in-time
Current portion of lease liabilities OperatingAndFinanceLeaseLiabilityCurrent $3.81M USD Point-in-time
Current portion of lease liabilities OperatingAndFinanceLeaseLiabilityCurrent $4.26M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $30.84M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $36.62M USD Point-in-time
Total current liabilities LiabilitiesCurrent $401.24M USD Point-in-time
Total current liabilities LiabilitiesCurrent $526.83M USD Point-in-time
Lease liabilities OperatingAndFinanceLeaseLiabilityNoncurrent $53.33M USD Point-in-time
Lease liabilities OperatingAndFinanceLeaseLiabilityNoncurrent $53.95M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $167.49M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $164.91M USD Point-in-time
Convertible debentures ConvertibleDebenturesNoncurrent $611.65M USD Point-in-time
Convertible debentures ConvertibleDebenturesNoncurrent $667.62M USD Point-in-time
Deferred tax liability DeferredIncomeTaxLiabilitiesNet $265.85M USD Point-in-time
Deferred tax liability DeferredIncomeTaxLiabilitiesNet $239.37M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $3.91M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $4.50M USD Point-in-time
Total liabilities Liabilities $1.60B USD Point-in-time
Total liabilities Liabilities $1.56B USD Point-in-time
Commitments and contingencies (refer to Note 16) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (refer to Note 16) CommitmentsAndContingencies - USD Point-in-time
Common stock CommonStockValue $46.00K USD Point-in-time
Common stock CommonStockValue $46.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $4.79B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $4.80B USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $152.67M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $51.25M USD Point-in-time
Deficit RetainedEarningsAccumulatedDeficit $-527.70M USD Point-in-time
Deficit RetainedEarningsAccumulatedDeficit $-486.05M USD Point-in-time
Total Tilray shareholders' equity StockholdersEquity $4.32B USD Point-in-time
Total Tilray shareholders' equity StockholdersEquity $4.46B USD Point-in-time
Non-controlling interests MinorityInterest $66.28M USD Point-in-time
Non-controlling interests MinorityInterest $6.24M USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.27B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.47B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.27B USD Point-in-time
Total shareholders' equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.39B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $5.99B USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $6.03B USD Point-in-time
Income Statement 55 line items
Line Item Tag Value Unit Period
Net revenue RevenueFromContractWithCustomerIncludingAssessedTax $117.49M USD 1 Quarter
Net revenue RevenueFromContractWithCustomerIncludingAssessedTax $168.02M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $82.55M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $117.07M USD 1 Quarter
Gross profit GrossProfit $34.95M USD 1 Quarter
Gross profit GrossProfit $50.95M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $25.97M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $49.49M USD 1 Quarter
Selling SellingExpense $7.43M USD 1 Quarter
Selling SellingExpense $5.82M USD 1 Quarter
Amortization DepreciationAndAmortization $4.13M USD 1 Quarter
Amortization DepreciationAndAmortization $30.74M USD 1 Quarter
Marketing and promotion MarketingAndAdvertisingExpense $5.46M USD 1 Quarter
Marketing and promotion MarketingAndAdvertisingExpense $4.92M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $785.00K USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $120.00K USD 1 Quarter
Transaction costs TransactionCosts $2.46M USD 1 Quarter
Transaction costs TransactionCosts $25.58M USD 1 Quarter
Total operating expenses OperatingExpenses $43.42M USD 1 Quarter
Total operating expenses OperatingExpenses $119.49M USD 1 Quarter
Operating loss OperatingIncomeLoss $-68.53M USD 1 Quarter
Operating loss OperatingIncomeLoss $-8.47M USD 1 Quarter
Finance expense, net InterestIncomeExpenseNonoperatingNet $-10.17M USD 1 Quarter
Finance expense, net InterestIncomeExpenseNonoperatingNet $-5.74M USD 1 Quarter
Non-operating income (expense), net NonoperatingIncomeExpense $-13.36M USD 1 Quarter
Non-operating income (expense), net NonoperatingIncomeExpense $48.86M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-29.84M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-27.57M USD 1 Quarter
Income taxes (recovery) IncomeTaxExpenseBenefit $-5.83M USD 1 Quarter
Income taxes (recovery) IncomeTaxExpenseBenefit $4.76M USD 1 Quarter
Net loss ProfitLoss $-21.74M USD 1 Quarter
Net loss ProfitLoss $-34.60M USD 1 Quarter
Shareholders of Tilray Inc. NetIncomeLoss $-34.34M USD 1 Quarter
Shareholders of Tilray Inc. NetIncomeLoss $-41.65M USD 1 Quarter
Non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $12.60M USD 1 Quarter
Non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $7.04M USD 1 Quarter
Foreign currency translation (loss) gain OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-100.77M USD 1 Quarter
Foreign currency translation (loss) gain OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $1.39M USD 1 Quarter
Unrealized loss on convertible notes receivable DebtSecuritiesUnrealizedGainLoss $-649.00K USD 1 Quarter
Total other comprehensive (loss) income, net of tax OtherComprehensiveIncomeLossNetOfTax $-101.42M USD 1 Quarter
Total other comprehensive (loss) income, net of tax OtherComprehensiveIncomeLossNetOfTax $1.39M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-136.03M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-20.36M USD 1 Quarter
Shareholders of Tilray Inc. ComprehensiveIncomeNetOfTax $-143.07M USD 1 Quarter
Shareholders of Tilray Inc. ComprehensiveIncomeNetOfTax $-32.96M USD 1 Quarter
Non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $12.60M USD 1 Quarter
Non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $7.04M USD 1 Quarter
Weighted average number of common shares - basic WeightedAverageNumberOfSharesOutstandingBasic 449.40M shares 1 Quarter
Weighted average number of common shares - basic WeightedAverageNumberOfSharesOutstandingBasic 241.99M shares 1 Quarter
Weighted average number of common shares - diluted WeightedAverageNumberOfDilutedSharesOutstanding 449.40M shares 1 Quarter
Weighted average number of common shares - diluted WeightedAverageNumberOfDilutedSharesOutstanding 241.99M shares 1 Quarter
Loss per share - basic EarningsPerShareBasic $-0.08 USD 1 Quarter
Loss per share - basic EarningsPerShareBasic $-0.09 USD 1 Quarter
Loss per share - diluted EarningsPerShareDiluted $-0.08 USD 1 Quarter
Loss per share - diluted EarningsPerShareDiluted $-0.09 USD 1 Quarter
Cash Flow Statement 58 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-21.74M USD 1 Quarter
Net loss ProfitLoss $-34.60M USD 1 Quarter
Deferred income tax recovery DeferredIncomeTaxExpenseBenefit $-17.98M USD 1 Quarter
Deferred income tax recovery DeferredIncomeTaxExpenseBenefit $-24.87M USD 1 Quarter
Unrealized foreign exchange loss ForeignCurrencyTransactionGainLossUnrealized $-13.19M USD 1 Quarter
Unrealized foreign exchange loss ForeignCurrencyTransactionGainLossUnrealized $-15.60M USD 1 Quarter
Amortization DepreciationDepletionAndAmortization $10.98M USD 1 Quarter
Amortization DepreciationDepletionAndAmortization $39.33M USD 1 Quarter
Loss on sale of capital assets GainLossOnSaleOfPropertyPlantEquipment $-27.00K USD 1 Quarter
Other non-cash items OtherNoncashIncomeExpense $-165.00K USD 1 Quarter
Other non-cash items OtherNoncashIncomeExpense $67.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $4.07M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $2.85M USD 1 Quarter
Loss on long-term investments & equity investments GainLossOnSaleOfInvestments $-1.14M USD 1 Quarter
Loss on long-term investments & equity investments GainLossOnSaleOfInvestments $-1.12M USD 1 Quarter
Gain on debt instruments DebtSecuritiesGainLoss $340.00K USD 1 Quarter
Gain on debt instruments DebtSecuritiesGainLoss $57.71M USD 1 Quarter
Loss on contingent consideration GainLossOnContingentConsideration $-837.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $9.87M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $21.66M USD 1 Quarter
Prepaids and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $6.75M USD 1 Quarter
Prepaids and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $7.26M USD 1 Quarter
Inventory IncreaseDecreaseInInventories $-4.92M USD 1 Quarter
Inventory IncreaseDecreaseInInventories $-1.23M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-22.60M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-19.34M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-93.23M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-56.10M USD 1 Quarter
Investment in capital and intangible assets PaymentsToAcquireProductiveAssets $13.96M USD 1 Quarter
Investment in capital and intangible assets PaymentsToAcquireProductiveAssets $16.32M USD 1 Quarter
Proceeds from disposal of capital and intangible assets ProceedsFromSaleOfProductiveAssets $7.70M USD 1 Quarter
Promissory notes advances PaymentsToAcquireNotesReceivable $2.42M USD 1 Quarter
Proceeds from disposal of long-term investments and equity investees ProceedsFromSaleOfEquityMethodInvestments $2.68M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-8.62M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-13.70M USD 1 Quarter
Share capital issued, net of cash issuance costs ProceedsFromIssuanceOfCommonStock $-261.00K USD 1 Quarter
Proceeds from warrants and options exercised ProceedsFromWarrantExercises $4.00K USD 1 Quarter
Proceeds from long-term debt ProceedsFromLongTermLinesOfCredit $1.89M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermLinesOfCredit $8.36M USD 1 Quarter
Repayment of long-term debt RepaymentsOfLongTermLinesOfCredit $880.00K USD 1 Quarter
Repayment of lease liabilities ProceedsFromRepaymentsOfFinanceLeaseLiabilities $-154.00K USD 1 Quarter
Repayment of lease liabilities ProceedsFromRepaymentsOfFinanceLeaseLiabilities $31.00K USD 1 Quarter
Increase (decrease) in bank indebtedness IncreaseDecreaseInBankIndebtedness $-5.96M USD 1 Quarter
Increase (decrease) in bank indebtedness IncreaseDecreaseInBankIndebtedness $-486.00K USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $6.74M USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-8.03M USD 1 Quarter
Effect of foreign exchange on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $9.13M USD 1 Quarter
Effect of foreign exchange on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-2.29M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-112.17M USD 1 Quarter
Net decrease in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-53.93M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $360.65M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $306.72M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $376.30M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $488.47M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $360.65M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $306.72M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $376.30M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $488.47M USD Point-in-time
Stockholders Equity 17 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.27B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.47B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.27B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.39B USD Point-in-time
Share issuance - legal settlement StockIssuedDuringPeriodValuesLegalSettlement $7.02M USD 1 Quarter
Share issuance - options exercised StockIssuedDuringPeriodValueStockOptionsExercised $2.76M USD 1 Quarter
Share issuance - options exercised StockIssuedDuringPeriodValueStockOptionsExercised $4.00K USD 1 Quarter
Share issuance - RSUs exercised StockIssuedDuringPeriodValueRSUExercised $2.25M USD 1 Quarter
Share issuance - RSUs exercised StockIssuedDuringPeriodValueRSUExercised $6.66M USD 1 Quarter
Share-based payments, net AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $-5.94M USD 1 Quarter
Share-based payments, net AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.23M USD 1 Quarter
Comprehensive income (loss) for the period OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-20.36M USD 1 Quarter
Comprehensive income (loss) for the period OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-136.03M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.27B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.47B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.27B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $4.39B USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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