Tilray (NASDAQ:TLRY) released its Q3 of fiscal 2019 results after market close on Tuesday. In contrast to fellow marijuana stock Aleafia Health (OTC:ALEAF), which reported its own Q3 figures that morning, Tilray's stock price did not move violently on the news.

In its Q3, Tilray's revenue amounted to just over $51 million. That was up by 11% from the Q2 tally, and represented a nearly 410% improvement on a year-over-year basis. On the bottom line, net loss deepened slightly to $35.7 million ($0.36 per share). Tilray's Q2 net loss was $35.1 million, while Q3 2018's deficit was $18.7 million.

Marijuana leaf atop a one-dollar bill.

Image source: Getty Images.

That most recent top-line figure beat the average analyst estimate of $49 million. However, those prognosticators were collectively expecting a per-share net loss of only $0.30. 

In terms of volume, Tilray sold 10,848 kilos of product in Q3. This was a dramatic improvement over both the 1,613 kilos in the year-ago quarter and the 5,588 kilos sold in Q2. Meanwhile, the average net selling price fell to $3.25 per gram; this figure was $6.21 a year ago and $4.61 in the previous quarter.

Tilray attributed the declines to "a shift in product and channel mix."

The revenue growth was due to several factors. One was the development of the Canadian recreational-use market, which was legalized just over a year ago.

Another was Tilray's absorption of hemp products producer Manitoba Harvest; that acquisition closed earlier this year. In Q3, Tilray booked almost $15.7 million in hemp sales, a category that was nonexistent for it one year ago.

Tilray also saw a steep increase in revenue outside of North America. Its sales of international medical cannabis offerings saw a nearly sixfold year-over-year increase, to $5.7 million. Although marijuana legalization is moving slowly in many markets abroad, certain nations have liberalized aspects of their laws -- notably with medical cannabis.

As of this writing, Tilray's stock was down by slightly more than 2% in after-hours trading. This relatively modest drop could provide some relief to marijuana stock investors following Aleafia's stock performance. During Tuesday's normal trading hours, Aleafia shares suffered a nearly 11% drop.