All financials are in U.S. dollars. All images are from Tilray’s investor presentation unless otherwise noted. Summary Tilray ( TLRY ) is a Seattle-based cannabis company which operates in the Canadian cannabis market. Tilray has continued to execute well since last I checked in on the company. Tilray has acquired Natura Holdings in a relatively inexpensive deal that adds 17% to Tilray’s production footprint at a cost of less than 1% of Tilray’s enterprise value.