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Can Tilray Really More Than Quadruple Its Annual Revenue by 2024?

·6 min read
Can Tilray Really More Than Quadruple Its Annual Revenue by 2024?
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When Canadian cannabis companies Tilray (NASDAQ: TLRY) and Aphria announced their merger in 2020, they estimated their pro forma revenue to be $685 million, referring to the combined entity as the "Largest Global Cannabis Company." On Tilray's recent earnings call, they said that their goal for 2024 is to hit $4 billion in revenue. Is that a pie-in-the-sky target that the company is likely to fall well short of, or should investors genuinely expect that level of growth from the business?