XML 17 R4.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Loss and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Nov. 30, 2022
Nov. 30, 2021
Nov. 30, 2022
Nov. 30, 2021
Net revenue $ 144,136 $ 155,153 $ 297,347 $ 323,176
Cost of goods sold 104,012 122,387 208,609 239,455
Gross profit 40,124 32,766 88,738 83,721
Operating expenses:        
General and administrative 41,672 33,469 82,180 82,956
Selling 9,669 9,210 19,340 16,642
Amortization 23,995 29,016 48,354 59,755
Marketing and promotion 8,535 7,120 15,783 12,585
Research and development 165 515 331 1,300
Change in fair value of contingent consideration 0 845 211 1,682
Litigation costs 2,815 1,080 3,260 2,274
Transaction (income) costs 5,064 7,040 (7,752) 31,425
Total operating expenses 91,915 88,295 161,707 208,619
Operating loss (51,791) (55,529) (72,969) (124,898)
Interest expense, net (3,107) (9,940) (7,520) (20,110)
Non-operating income (expense), net (18,450) 65,595 (51,442) 115,292
(Loss) income before income taxes (73,348) 126 (131,931) (29,716)
Income taxes (benefit) expense (11,713) (5,671) (4,502) (909)
Net (loss) income (61,635) 5,797 (127,429) (28,807)
Total net income (loss) attributable to:        
Stockholders of Tilray Brands, Inc. (69,463) (201) (142,945) (41,850)
Non-controlling interests 7,828 5,998 15,516 13,043
Other comprehensive loss, net of tax        
Foreign currency translation loss (24,597) (32,367) (84,889) (133,139)
Unrealized loss on convertible notes receivable (17,643) (16,305) (20,168) (16,954)
Total other comprehensive loss, net of tax (42,240) (48,672) (105,057) (150,093)
Comprehensive loss (103,875) (42,875) (232,486) (178,900)
Total comprehensive income (loss) attributable to:        
Stockholders of Tilray Brands, Inc. (111,186) (41,853) (243,636) (184,923)
Non-controlling interests $ 7,311 $ (1,022) $ 11,150 $ 6,023
Weighted average number of common shares - basic (in shares) 611,711,377 460,254,275 589,122,358 454,797,598
Weighted average number of common shares - diluted (in shares) 611,711,377 460,254,275 589,122,358 454,797,598
Net loss per share - basic (in dollars per share) $ (0.11) $ 0.00 $ (0.24) $ (0.09)
Net loss per share - diluted (in dollars per share) $ (0.11) $ 0.00 $ (0.24) $ (0.09)