0001564590-20-008211 | 10-K | XBRL Viewer

Print Document View Excel Document

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2019	Mar. 02, 2020	Jun. 28, 2019
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Trading Symbol	TLRY
Entity Registrant Name	TILRAY, INC.
Entity Central Index Key	0001731348
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Public Float			$ 1,030
Title of 12(b) Security	Class 2 Common Stock, $0.0001 par value per share
Entity File Number	001-38594
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-4310622
Entity Interactive Data Current	Yes
Security Exchange Name	NASDAQ
Entity Address, Address Line One	1100 Maughan Road
Entity Address, City or Town	Nanaimo
Entity Address, State or Province	BC
Entity Address, Postal Zip Code	V9X IJ2
City Area Code	844
Local Phone Number	845-7291
Document Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Part III incorporates certain information by reference from the definitive proxy statement to be filed by the registrant in connection with the 2020 Annual Meeting of Stockholders (the “Proxy Statement”). The Proxy Statement will be filed by the registrant with the Securities and Exchange Commission pursuant to Regulation 14A not later than 120 days after the end of the year ended December 31, 2019.
Class 1 Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		16,666,667
Class 2 Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		87,390,113

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 96,791	$ 487,255
Short-term investments		30,335
Accounts receivable, net of allowance for doubtful accounts of $2,015 and $292, respectively	36,202	16,525
Inventory	87,861	16,211
Prepayments and other current assets	38,173	3,976
Total current assets	259,027	554,302
Property and equipment, net	184,217	80,214
Operating lease, right-of-use assets	17,514
Intangible assets, net	228,828	4,486
Goodwill	163,251
Equity method investments	11,448
Other investments	24,184	16,911
ABG finance receivable and other assets	7,861	754
Total assets	896,330	656,667
Current liabilities
Accounts payable	39,125	10,649
Accrued expenses and other current liabilities	50,829	14,818
Accrued obligations under finance lease		470
Accrued obligations under operating lease	2,473
Total current liabilities	92,427	25,937
Accrued obligations under finance lease	14,152	8,286
Accrued obligations under operating lease	15,255
ABG finance liability	5,566
Deferred tax liability	53,363	4,424
Convertible notes, net of issuance costs	430,210	420,367
Other liabilities	86
Total liabilities	611,059	459,014
Commitments and contingencies (refer to Note 17)
Stockholders’ equity
Additional paid-in capital	705,671	302,057
Accumulated other comprehensive income	9,719	3,763
Accumulated deficit	(430,130)	(108,177)
Total stockholders' equity	285,271	197,653
Total liabilities and stockholders' equity	896,330	656,667
Class 1 common stock [Member]
Stockholders’ equity
Common stock value	2	2
Class 2 common stock [Member]
Stockholders’ equity
Common stock value	$ 9	$ 8

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Allowance for doubtful accounts receivable	$ 2,015	$ 292
Class 1 common stock [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	16,666,667	16,666,667
Common stock, shares outstanding	16,666,667	16,666,667
Class 2 common stock [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	86,114,558	76,504,200
Common stock, shares outstanding	86,114,558	76,504,200

Consolidated Statements of Net Loss and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue	$ 166,979	$ 43,130	$ 20,538
Gross (loss) profit	(23,496)	14,275	11,377
General and administrative expenses	81,968	29,461	7,499
Sales and marketing expenses	61,084	15,366	7,164
Research and development expenses	6,558	4,264	3,171
Stock-based compensation expenses	31,842	20,988	139
Depreciation and amortization expenses	11,607	1,598	902
Impairment of assets	112,070
Acquisition-related (income) expenses, net	(31,427)	248
Loss from equity method investments	4,504
Operating loss	(301,702)	(57,650)	(7,498)
Foreign exchange (gain) loss, net	(5,944)	7,234	(1,363)
Interest expenses, net	34,690	9,110	1,686
Finance income from ABG	(764)
Loss on disposal of property and equipment	2,436	190
Other income, net	(2,501)	(2,010)	(12)
Loss before income taxes	(329,619)	(72,174)	(7,809)
Deferred income tax recoveries	(8,847)	(4,485)
Current income tax expenses	397	34
Net loss	$ (321,169)	$ (67,723)	$ (7,809)
Net loss per share - basic and diluted	$ (3.20)	$ (0.82)	$ (0.10)
Weighted average shares used in computation of net loss per share - basic and diluted	100,455,677	83,009,656	75,000,000
Net loss	$ (321,169)	$ (67,723)	$ (7,809)
Foreign currency translation gain, net	5,174	662	282
Unrealized loss on investments	(21)	(765)
Other comprehensive income (loss)	5,153	(103)	282
Comprehensive loss	(316,016)	(67,826)	(7,527)
Product Costs [Member]
Cost of sales	121,892	24,294	8,544
Inventory Valuation Adjustments [Member]
Cost of sales	$ 68,583	$ 4,561	$ 617

Consolidated Statements of Net Loss and Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Excise duties	$ 13,136	$ 1,200	$ 0

Consolidated Statements of Stockholders' Equity (Deficit) - USD ($)
$ in Thousands

Total

At-the-Market [Member]

Alef [Member]

Natura Naturals Inc

Natura Contingent Consideration

Manitoba Harvest U S L L C

Investments

S And S Acquisition

ABG [Member]

Preferred Shares [Member]

Common Stock [Member]

At-the-Market [Member]

Common Stock [Member]

Alef [Member]

Common Stock [Member]

Natura Naturals Inc

Common Stock [Member]

Natura Contingent Consideration

Common Stock [Member]

Manitoba Harvest U S L L C

Common Stock [Member]

Investments

Common Stock [Member]

S And S Acquisition

Common Stock [Member]

Downstream Merger [Member]

Common Stock [Member]

ABG [Member]