As previously indicated, we expect continued growth in both the adult-use and medical sales channels for the remainder of 2020 and a decline in Bulk sales as we focus on higher-margin opportunities.

Just in terms of the ASP, and I guess it goes as well to the gross margin profile that's kind of been asked about earlier. So is there a risk that that market would actually be oversupplied in the next six, 12 months? Nevertheless, with the closure of High Park Gardens, a high-cost facility, and increased growth volumes in Portugal, where we have had limited cost absorption, we expect to see cost per gram reduce over time as the full benefit of our cost reductions is realized. So on the gross margins for cannabis, I think we do continue to see expansion of the gross margins as we see the International Medical make up a higher percentage of our cannabis actual sales. In general, our quarter-over-quarter decline in adult-use sales and Canada medical was largely attributable to pantry loading we experienced in the month of March. Email Page. Shares were consolidating. I just wanted to follow up a little bit on the EBITDA piece and positive to -- breakeven to positive. Rupesh, I'd just add that we do have a number of 2.0 products in our pipeline that we anticipate launching here in Q3 and into Q4. These numbers assume no meaningful additional impacts due to COVID, and the remaining capex assumes completion of Phase 2 in Portugal during 2020.

Adjusted gross margin fell to 7%. Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Monday, August 10th. We should see some benefit as we move into the back half of this year. Is The World's Biggest Marijuana Stock A Buy As New Leaders Change Course? But I think it's probably early to determine what our eventual market share will be. And along those lines, if you can talk about -- you're going to ship from Portugal, lower cost than, say, shipping from Germany, from Denmark or producing in Germany or shipping from Canada. Certainly, the need for additional sources of government tax revenue may be a factor in this process.

Revenue was expected to climb 21% to $55.32 million. So on Manitoba Harvest, I think that we see that as kind of a top-line moderate growth story. For comparison, Wall Street was estimating adjusted per-share losses of -0.47 CAD on revenue of $73.83 million CAD.

And we expect that significant growth on International Medical to continue in Q3 and into Q4. And so we have a number of products that we'll launch, really, in the coming weeks. We see that demand has been partially driven by the introduction of value-added cannabis product offerings, which are becoming more affordable and accessible as licensed producers, and larger provinces such as Ontario continued to increase their distribution and points of sale. 2020 InvestorPlace Media, LLC. Tilray - Second Quarter 2020 Earnings Call. Adjusted losses per share are 121.43% wider than the -0.28 CAD  from the same time last year. We closed High Park Garden, which was a high-cost growth facility in Ontario. Good afternoon and thank you for joining us on Tilray's second-quarter 2020 earnings conference call and webcast. Please limit yourself to two questions. We are now able to take advantage of Portugal's warmer climate, which is amenable to year-round cultivation, and a lower cost of labor. Good evening and thanks for the question. But can you give some color on what are the key things to watch?

And so that won't be replicated. June Investor Conferences. Estimates: Wall Street expected Canopy Growth, which is the biggest cannabis stock by market cap, to report a loss of 29 cents per share, according to Zacks Investment Research, or around 39 Canadian cents. But in general, when I look at all the cost areas, we've taken roughly 32% out of our cost structure. That's a good question. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Beginning in January 2020, we successfully refocused our business, rightsized our cost structures, and have narrowed our focus to three strategic priorities. To conclude, we have positioned Tilray to be more efficient and successful in our key businesses: global medical cannabis, Canadian adult-use cannabis, and global hemp products.

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