Tilray is gaining ground after posting strong sales (TLRY)

Tilray beat on the top line but missed on the bottom line.Its annual adjusted loss per share widened.The increased net loss was primarily due to the increase in operating expenses related to continued growth, expansion of international teams, and costs related to financings and the initial public offering, the company said.Watch Tilray trade live.The cannabis producer Tilray reported fourth-quarter earnings that beat on revenue but missed on the bottom line, sending shares up 5.47% to $76.11 after Monday's closing bell.Here are the key numbers, compared with what analysts surveyed by Bloomberg were expecting.Adjusted loss per share: $0.33 versus $1.34 expectedRevenue: $15.5 million versus $15.07 million expected2018 adjusted loss per share: $0.82, widened from $0.10 loss per share in 20172018 revenue: $43.1 million, up 110.0% "Our team made significant progress on our long-term initiatives including increasing production capacity, expanding and strengthening strategic partnerships, and acquiring complementary businesses to accelerate our future growth and leadership position in medical and adult-use cannabis," CEO Brendan Kennedy said in a press release.Looking ahead, we remain committed to pursuing global growth opportunities and will be disciplined in deploying capital, particularly in the United States and Europe, where we believe we have multiple paths for value creation.The company said its wider net loss and adjusted EBITDA declines in 2018 were primarily due to the increase in operating expenses related to continued growth, expansion of international teams, and costs related to financings and the initial public offering.Tilray debuted for trading on the Nasdaq in July, becoming the first cannabis company to have an initial public offering in the US. Since then, it has sped up developing its business.In December, Tilray announceda partnership with a division of the Swiss drug giant Novartis AG, hoping tocommercialize itsnon-smokable medical-cannabis products, develop new products, and educate pharmacists and physicians about cannabis.In January, the company said it planned toacquire the cultivator Natura Naturals. The deal will allow Tilray toexpand its capacity to supply high-quality branded cannabis products to the Canadian market.Tilray shares were little changed this year through Monday.Join the conversation about this storyNOW WATCH: What El Chapo is really like, according to the wife of one his closest henchman
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