Tilray CEO still thinks his cannabis company is worth $100 billion even with the extreme stock market volatility


2018-12-21 17:55:12 YAHOO!FINANCE


Insane amounts of volatility in the stock market doesn’t have Tilray CEO Brendan Kennedy backing down on a very bullish vision for how much his cannabis company could someday be worth. “I think you will see three companies with $100 billion valuation, and we would like to be one of them,” Kennedy told Yahoo Finance. Kennedy, who reportedly put a $100 billion valuation tag on Tilray earlier in the year, believes Tilray will be among two other cannabis companies logging annual sales of $50 billion. “It remains early days in this industry,” Kennedy said. Indeed, Kennedy has the wind at his sails right now even with the broader market under severe pressure. Tilray (TLRY) shares are up an astounding 250% since the company’s July initial public offering on pure hype on future potential of the cannabis industry. More recently, Tilray has inked a medical marijuana distribution deal with drug giant Novartis. It has also joined forces with beer king AB InBev to explore cannabis infused drinks. Each announcement has only fueled the hype around Tilray. But 2019 promises to bring extra scrutiny of the company's financials amid high expectations and a $7 billion-plus market cap. Tilray will have to significantly improve the performance it showed in the third quarter, or risk losing the momentum behind its stock. Tilray’s net loss, which includes stock-based compensation charges and higher operating costs, rose to $18.7 million, or 20 cents per share, compared with $1.8 million a year ago. Other numbers of interest ahead of 2019: -Tilray’s net selling price per gram fell to $6.21 from $7.53. The company blamed greater bulk sales of products to customers. -Gross profit margins tanked to 31% from 55% a year ago also because of more bulk product sales. Kennedy on a conference call with analysts reiterated he sees 50% profit margins over the long term. -Tilray has racked up $34 million in operating losses year-to-date as it works to expand its operations and pays out stock-based compensation to executives.
Tilray 首席执行官布伦丹·肯尼迪( Brendan Kennedy )对自己的大麻公司有朝一日的价值前景持非常乐观的看法,股市的剧烈波动并没有让他失去信心。 “我认为你会看到三家公司的估值达到1000亿美元,我们希望成为其中之一,”肯尼迪对雅虎金融( Yahoo Finance )表示。据报道,肯尼迪今年早些时候对 Tilray 给出了1,000亿美元的估值,他相信 Tilray 将是另外两家年销售额为500亿美元的大麻公司之一。 “这一行业仍处于早期阶段,”肯尼迪表示。 事实上,即使面对更广阔的市场和面临巨大的压力,肯尼迪现在仍能如愿以偿。Tilray ( TLRY )股价自该公司7月首次公开发行( IPO )以来上涨了惊人的250%,纯粹是对大麻行业未来潜力的炒作。最近, Tilray 与制药巨头诺华公司签订了医用大麻经销协议。它还与啤酒大王百威英博( AB InBev )联手,探索注入饮料的大麻。 每一项声明都只会在 Tilray 周围引起轩然大波。 但在高预期和70亿美元市值的背景下,2019年,该公司的财务状况将经过额外审查。Tilray 将不得不显著提高第三季度的业绩,否则可能失去股价背后的动力。 Tilray 的净亏损(包括基于股票的薪酬费用和更高的运营成本)增至1870万美元,合每股20美分,而一年前为180万美元。 2019年前的利润数据: - Tilray 的每克净售价从7.53美元降至6.21美元。该公司将产品的大量销售归因于客户。 -毛利率从一年前的55%下滑至31%,这也是因为大宗产品销售增加。肯尼迪在与分析师的电话会议上重申,他预计长期利润率将达到50%。 - Tilray 在努力扩大业务并向高管支付以股票为基础的薪酬的同时,年初至今已累积了3400万美元的运营亏损。