. It attributed much of the decline to a one-time write-off , of $395-million primarily involving inventory, goodwill, and other intangible assets.
Mr. Simon said about US$54-million of the impairment charge came from older cannabis inventory, because it was a lower potency than Tilray’s current products, or was acquired in a previous deal. Meanwhile, Tilray said beverage alcohol sales from its U.S.-based holdings SweetWater Brewing and Breckenridge Distillery generated US$22.7-million in revenue in the fourth quarter, up 16 per cent up from last quarter.
Tilray also has production facilities in Europe, and is focusing on its expansion in Germany, where the company holds 20 per cent of the market share for medical cannabis. Germany plans to legalize recreational cannabis in the next two years, which would set a precedent for legalization in other European countries.
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