05:21 PM EDT, 07/29/2024 (MT Newswires) -- Tilray Brands ( TLRY ) , a global lifestyle consumer packaged-goods company, was at last look up 9.8% in after-hours Nasdaq trading as its fiscal fourth-quarter loss narrowed on higher than expected revenue.

The company said it lost US$15.38 million, or US$0.04 per share, in the quarter ended May 31, compared to a loss of US$119.82 million, or US$0.15, in the year-prior quarter.

Adjusted net income, excluding most one-time items. was US$35.1 million, or US$0.04, compared to a loss of US$11.8 million, or US$0.02, a year earlier.

Revenue increased 25% to US$229.9 million from $184.2 million, beating a Capital IQ forecast of $227.30 million.

Adjusted EBITDA increased 37% to US$29.5 million from US$21.5 million.

"Tilray Brands ( TLRY ) is leading the convergence of cannabis, beverages, and wellness on a global scale. In Fiscal 2024, the Company achieved remarkable growth across its businesses, with a 26% increase in net revenue over the prior year, record-breaking performance in gross profit and adjusted EBITDA, and generated positive adjusted free cash flow for the fiscal year," chief executive Irwin Simon said in a release.

The company's shares were last seen up US$0.18 to US$2.01 after hours. They closed up $0.03 to $2.57 on the Toronto Stock Exchange.