I hope everyone is healthy and safe. Or I just want to get some more thoughts on the run rate for that line?Yes. Highlights comparing between legal and illegal retail shops, if there is still a big discrepancy there or not? I really know it’s late in the call. Morning Trade News Alert: GoPro, Inc. (NASDAQ:GPRO), ACE Limited (NYSE:ACE), Canadian Solar Inc. (NASDAQ:CSIQ), MaxLinear, Inc. (NYSE:MXL)
We saw an increase in March sales as a result of people probably buying in as a function of COVID, and then what we’ve seen is settling in at a rate that is higher than where we were in January and February.I’ll just add one point there.
And what’s embedded in that expectation for reaching the EBITDA positive? And many times in December and January, we were getting a second order from a province, almost essentially as soon as we shipped their first quarter.
And related to that, in the previous call, you talked about the Canadian market broadly doubling this year in 2020. This year
The increase in the year-over-year adjusted EBITDA loss was primarily due to increased costs in SG&A related to commercial growth initiatives and increased operating costs related to our cultivation efforts. And that means lots of meetings, lots of due diligence, lots of tours. However, we may see some bulk revenue in future quarters depending on opportunistic sales and the need for inventory rebalancing.Going a little deeper on our adult-use. Thanks. We will continue to proactively manage the release of the remaining shares.For the remainder of the year, we are focused on executing on profitable long-term growth opportunities, while continuing to drive cost efficiencies. Our next question comes from Aaron Grey from Alliance Global Partners.
Hopefully, you guys are good. But the primary growth was the flower.Right. But at the moment, I think it’s more of the 2.0 and the adult-rec space, where we do see the opportunity to take additional price or actually just increase the overall average selling price that you’ve got is through the growth of our international medical or Canadian Medical, both of which we are seeing some pretty solid growth trends at the moment.All right, great.
As we see regulation shift in certain provinces such as Alberta and Quebec, we are well positioned to serve those markets as well.Our medical cannabis products are available in 15 countries on five continents and our hemp products are available in over 17,000 retailers in 20 countries around the world. And I guess shifting gears to international medical, at least for us, that’s been harder to model just given, I guess, the ramp and some of the volatility within that business.
Thank you very much. I’m wondering how perhaps recessionary pressures on consumers here could impact the mix between legal or illegal shops?
Today, in my prepared remarks, I will discuss our response to the COVID-19 pandemic, recent actions taken to drive significant cost reductions and efficiencies across our business, a summary of our first quarter performance and our continued areas of focus for 2020. Throughout the first quarter and the week since, we have taken numerous actions to protect our employees and our business. We also saw an increase in operating expenses to support our continued growth initiatives and severance costs related to headcount reductions.We reported an adjusted EBITDA loss of $19.7 million compared to a loss of $15.3 million in the first quarter last year.
Tilray to Report Second Quarter 2020 Financial Results on August 10, 2020 NANAIMO, British Columbia --(BUSINESS WIRE)--Jul. International medical will always be in excess of our Canadian medical cannabis revenue, and we expect that growth to continue on a quarter-over-quarter basis throughout the rest of this year until next year.And so while we achieved one milestone, I think the next milestones that I’m paying attention to is that, at some point, over the next three or four quarters, our revenue internationally will exceed our revenue in Canada and that will be an important milestone for us as a Company.Looking at international medical cannabis revenue in Q1, a lot of that was driven by exports, not only from Canada, but from our Portuguese facility, which is online. Just some color around that. Ladies and gentlemen, thank you for standing by, and welcome to Tilray’s First Quarter 2020 Earnings Conference Call.
This validates our thesis that cannabis is a mainstream product consumed by mainstream patients and consumers.We’re also seeing signs across the industry that cannabis is a counter-cyclical product, which we have long believed to be true. cannabis stocks are finding a bottom after the recent market selloff and Tilray
Q1 2020 operating expenses, excluding impairments and write-downs, totaled $52.3 million and represented a 55% increase from Q1 2019. This growth was largely due to increased volumes in all channels, excluding bulk and the impact of full quarter of hemp product sales compared to a partial quarter in 2019.On a sequential basis, revenue grew 11% from the $46.9 million achieved in our fourth quarter last year.
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tilray q1 2020