Although heavy bottom-line losses are nothing new in the marijuana industry, the deficit Tilray (NASDAQ:TLRY) reported in its latest reported quarter was considerable. It was also big enough to drive the stock down at double-digit rates after the company's Q2 figures came out after hours on Monday.

The quarter's revenue came in at $50.4 million, 10% higher year over year, but 3% lower than the Q1 result. The story was much different on the bottom line; the company's net loss deepened on a year-over-year basis by $45.4 million to $81.7 million, or $0.65 per share.

A marijuana bud on fire.

Image source: Getty Images.

Both figures were well short of the average analyst estimates. Collectively, prognosticators tracking the stock were expecting $54.8 million on the top line, and a per-share net loss of only $0.32.

Tilray pointed out that much of its bottom-line deficit consisted of non-cash items. These included an asset impairment charge of over $28 million, and an inventory valuation adjustment that came in at almost $19 million.

On a more optimistic note, the company managed to grow its total cannabis revenue to almost $30.2 million for the quarter, a 16% improvement over the Q2 2019 figure. Within this category, the crucial recreational cannabis segment was responsible for $17.6 million, a 17% year-over-year improvement. Hemp, which constitutes the rest of its revenue base, inched up by 2% to $20.2 million.

That significantly wider net loss weighed heavily on Tilray's stock, however. It was trading down by more than 10% in after-market trading Monday night.