Marijuana producer Tilray, whose shares have had a wild year because of investors looking to cash in on the emerging cannabis trend, reported that revenue surged more than 85 percent last quarter versus the same period a year ago.
Amazingly, that still wasn't quite enough to satisfy traders as the shares dropped more than 1.5 percent in after hours trading on Tuesday.
Total revenue came in at $10 million, versus 10.1 million expected on average from four analysts polled by Refinitiv.
Tilray Chief Executive Officer Brendan Kennedy was quick to point out to in a CNBC interview Tuesday that this revenue was all tied to medical and not adult use, which was just legalized in Canada. Some analysts had expected the company to see some revenue from recreational sales in the third quarter.
Average per-gram weed prices dropped to $6.21 from $7.53, which Tilray said was because it sold more pot in bulk than the prior year.