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TILT Holdings Reports Fourth Quarter and Full Year 2024 Results

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TILT Holdings (OTCQB: TLLTF) reported its Q4 and full-year 2024 financial results, marking a transformative year focused on streamlining operations. Q4 revenue declined to $24.6 million from $37.5 million year-over-year, primarily due to Jupiter Hardware business performance. The company posted a Q4 net loss of $41.4 million, compared to $22.0 million loss in the prior year period.

Full-year 2024 results showed revenue of $115.6 million, down from $166.0 million in 2023, with a net loss of $99.7 million compared to $62.4 million loss in the previous year. The company is divesting its Massachusetts retail assets for $2 million, with regulatory approvals expected in Q2 2025, as part of its strategy to focus on Jupiter operations.

The company ended the year with $4.3 million in cash and equivalents, compared to $3.3 million at the end of 2023. Notes payable increased to $72.1 million from $52.2 million year-over-year.

TILT Holdings (OTCQB: TLLTF) ha riportato i risultati finanziari del Q4 e dell'intero anno 2024, segnando un anno trasformativo focalizzato sull'ottimizzazione delle operazioni. Le entrate del Q4 sono diminuite a 24,6 milioni di dollari rispetto ai 37,5 milioni dell'anno precedente, principalmente a causa delle performance del business Jupiter Hardware. L'azienda ha registrato una perdita netta del Q4 di 41,4 milioni di dollari, rispetto a una perdita di 22,0 milioni nello stesso periodo dell'anno precedente.

I risultati del 2024 hanno mostrato entrate di 115,6 milioni di dollari, in calo rispetto ai 166,0 milioni del 2023, con una perdita netta di 99,7 milioni di dollari rispetto ai 62,4 milioni di perdita dell'anno precedente. L'azienda sta disinvestendo i suoi beni al dettaglio nel Massachusetts per 2 milioni di dollari, con approvazioni normative previste per il Q2 2025, come parte della sua strategia di concentrarsi sulle operazioni di Jupiter.

L'azienda ha concluso l'anno con 4,3 milioni di dollari in contante e equivalenti, rispetto ai 3,3 milioni alla fine del 2023. I debiti a lungo termine sono aumentati a 72,1 milioni di dollari rispetto ai 52,2 milioni dell'anno precedente.

TILT Holdings (OTCQB: TLLTF) informó sus resultados financieros del Q4 y del año completo 2024, marcando un año transformador enfocado en la optimización de operaciones. Los ingresos del Q4 cayeron a 24,6 millones de dólares desde 37,5 millones del año anterior, principalmente debido al rendimiento del negocio de Jupiter Hardware. La compañía reportó una pérdida neta del Q4 de 41,4 millones de dólares, en comparación con una pérdida de 22,0 millones en el mismo período del año anterior.

Los resultados del año completo 2024 mostraron ingresos de 115,6 millones de dólares, en comparación con 166,0 millones en 2023, con una pérdida neta de 99,7 millones en comparación con una pérdida de 62,4 millones del año anterior. La compañía está desinvirtiendo sus activos minoristas en Massachusetts por 2 millones de dólares, con aprobaciones regulatorias esperadas para el Q2 de 2025, como parte de su estrategia para enfocarse en las operaciones de Jupiter.

La empresa terminó el año con 4,3 millones de dólares en efectivo y equivalentes, en comparación con 3,3 millones a finales de 2023. Las deudas aumentaron a 72,1 millones de dólares desde 52,2 millones del año anterior.

TILT Holdings (OTCQB: TLLTF)는 2024년 4분기 및 전체 연도 재무 결과를 보고하며, 운영 효율성을 높이는 데 집중한 변혁의 해를 기념했습니다. 4분기 수익은 전년 대비 3,750만 달러에서 2,460만 달러로 감소했으며, 이는 주로 Jupiter Hardware 사업 성과 때문입니다. 회사는 4분기 순손실로 4,140만 달러를 기록했으며, 이는 전년 동기 2,200만 달러의 손실에 비해 증가한 수치입니다.

2024년 전체 연도 결과는 1억 1,560만 달러의 수익을 나타내며, 2023년의 1억 6,600만 달러에서 감소했으며, 순손실은 9,970만 달러로 전년의 6,240만 달러 손실에 비해 증가했습니다. 회사는 Jupiter 운영에 집중하기 위한 전략의 일환으로 매사추세츠 소매 자산을 200만 달러에 매각할 예정이며, 규제 승인은 2025년 2분기에 예상됩니다.

회사는 2023년 말 330만 달러에서 430만 달러의 현금 및 현금성 자산으로 연도를 마감했습니다. 지급해야 할 채무는 전년 대비 5220만 달러에서 7210만 달러로 증가했습니다.

TILT Holdings (OTCQB: TLLTF) a rapporté ses résultats financiers du Q4 et de l'année entière 2024, marquant une année transformative axée sur l'optimisation des opérations. Les revenus du Q4 ont chuté à 24,6 millions de dollars contre 37,5 millions de dollars l'année précédente, principalement en raison des performances de l'activité Jupiter Hardware. L'entreprise a affiché une perte nette du Q4 de 41,4 millions de dollars, comparativement à une perte de 22,0 millions de dollars au cours de la même période de l'année précédente.

Les résultats de l'année 2024 ont montré des revenus de 115,6 millions de dollars, en baisse par rapport à 166,0 millions de dollars en 2023, avec une perte nette de 99,7 millions de dollars contre une perte de 62,4 millions de dollars l'année précédente. L'entreprise se désengage de ses actifs de détail dans le Massachusetts pour 2 millions de dollars, avec des approbations réglementaires attendues au Q2 2025, dans le cadre de sa stratégie de concentration sur les opérations de Jupiter.

L'entreprise a terminé l'année avec 4,3 millions de dollars en liquidités et équivalents, contre 3,3 millions de dollars à la fin de 2023. Les dettes ont augmenté à 72,1 millions de dollars par rapport à 52,2 millions de dollars l'année précédente.

TILT Holdings (OTCQB: TLLTF) hat seine finanziellen Ergebnisse für das 4. Quartal und das gesamte Jahr 2024 veröffentlicht, was ein transformierendes Jahr markiert, das sich auf die Optimierung der Betriebsabläufe konzentriert. Die Umsätze im 4. Quartal gingen von 37,5 Millionen Dollar im Vorjahr auf 24,6 Millionen Dollar zurück, hauptsächlich aufgrund der Leistung des Jupiter Hardware-Geschäfts. Das Unternehmen verzeichnete einen Nettoverlust im 4. Quartal von 41,4 Millionen Dollar im Vergleich zu einem Verlust von 22,0 Millionen Dollar im Vorjahreszeitraum.

Die Ergebnisse für das gesamte Jahr 2024 zeigten einen Umsatz von 115,6 Millionen Dollar, ein Rückgang von 166,0 Millionen Dollar im Jahr 2023, mit einem Nettoverlust von 99,7 Millionen Dollar im Vergleich zu einem Verlust von 62,4 Millionen Dollar im Vorjahr. Das Unternehmen verkauft seine Einzelhandelsvermögen in Massachusetts für 2 Millionen Dollar, wobei die Genehmigungen der Aufsichtsbehörden im 2. Quartal 2025 erwartet werden, als Teil seiner Strategie, sich auf die Jupiter-Operationen zu konzentrieren.

Das Unternehmen schloss das Jahr mit 4,3 Millionen Dollar in Bar- und Baräquivalenten ab, verglichen mit 3,3 Millionen Dollar Ende 2023. Die Verbindlichkeiten stiegen von 52,2 Millionen Dollar im Vorjahr auf 72,1 Millionen Dollar.

Positive
  • Gross margin improved to 22% in Q4 2024 from 10% year-over-year
  • Cash position increased to $4.3M from $3.3M year-over-year
  • Strategic restructuring to focus on Jupiter business could improve operational efficiency
Negative
  • Q4 revenue declined 34.4% to $24.6M from $37.5M year-over-year
  • Full-year revenue dropped 30.4% to $115.6M from $166.0M
  • Net loss increased to $99.7M in 2024 from $62.4M in 2023
  • Notes payable increased to $72.1M from $52.2M year-over-year
  • Cash used in operations turned negative compared to prior year

PHOENIX, March 19, 2025 (GLOBE NEWSWIRE) -- TILT Holdings Inc. (“TILT” or the “Company”) (Cboe CA: TILT) (OTCQB: TLLTF), a global provider of cannabis business solutions including inhalation technologies, cultivation, manufacturing, processing, brand development and retail, is reporting its financial and operating results for the three and twelve months ended December 31, 2024. All financial information is reported in U.S. dollars and prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) unless otherwise indicated.

“2024 was a transformative year for TILT, as we took deliberate steps to streamline our business and sharpen our focus on Jupiter,” said TILT’s Chief Executive Officer, Tim Conder. “With the divestiture of our Massachusetts retail assets now underway, and a path toward exiting our remaining plant-touching operations, we are positioning TILT to emerge as a more agile, focused organization. This shift will allow us to unlock Jupiter’s full potential, expand our presence into new markets, and improve access to capital and financing opportunities.

“At Jupiter, we are making critical organizational enhancements, including leadership changes and operational improvements, which are essential to driving our business forward. The addition of experienced executives like Ken Yuan and Khalid Al Naser is key to this transformation as we enhance and expand our product portfolio and develop new proprietary hardware solutions tailored to today’s evolving consumer and regulatory landscape.”

Conder added, “Our work is far from over, but we are making important progress, as we break down and rebuild. Through all the challenges we have faced, our resilience has been a key strength. As we look ahead to 2025, we must remain focused and disciplined to achieve our strategic goals.”

Q4 2024 Financial Summary

  • Revenue was $24.6 million in the three months ended December 31, 2024, compared to $37.5 million in the prior year period. The decrease in revenue was primarily driven by the Company’s Jupiter Hardware business.
  • Gross profit was $5.3 million and gross margin was 22% in the three months ended December 31, 2024, compared to $3.6 million or 10% of revenue in the prior year period. The increase in gross profit and margin was primarily driven by the Company’s transition to a commission-based model for certain Jupiter customers.
  • Net loss was $41.4 million in the three months ended December 31, 2024, compared to a net loss of $22.0 million in the prior year period. The increase in net loss for the fourth quarter was attributed to intangible asset impairments and fair value measurements.
  • Adjusted EBITDA (non-GAAP) was $0.5 million in the three months ended December 31, 2024, compared to $(1.6) million in the prior year period driven by gross margin and cash operating expense improvements.
  • Cash used in operating activities in the fourth quarter was $0.5 million compared to cash provided by operating activities of $4.0 million for the year-ago period.
  • At December 31, 2024, the Company had $4.3 million of cash, cash equivalents and restricted cash compared to $3.3 million at December 31, 2023.

Q4 2024 & Recent Operational Highlights

  • Announced a definitive agreement to sell Massachusetts retail locations to In Good Health for $2 million, with regulatory approvals expected in Q2 2025.
  • Announced Adam Draizin stepped down from the Company’s Board of Directors and the appointment of Marshall P. Horowitz to fill his Board seat.

FY 2024 Financial Summary

  • Revenue was $115.6 million in the twelve months ended December 31, 2024, compared to $166.0 million in the prior year.
  • Gross Profit was $20.1 million in the twelve months ended December 31, 2024, or approximately 17% of revenue, compared to $24.4 million or 15% of revenue in the prior year.
  • Net loss was $99.7 million in the twelve months ended December 31, 2024, compared to a net loss of $62.4 million in the prior year. The increase in net loss was primarily driven by an increase in operating expenses predominantly due to increased non-cash impairment loss.
  • Adjusted EBITDA (non-GAAP) was a loss of $2.2 million in the twelve months ended December 31, 2024, compared to $2.1 million in the prior year.
  • Cash used in operating activities was $0.2 million for the twelve months ended December 31, 2024, compared to cash provided by operating activities of $5.4 million in the prior year.
  • Notes payable net of discount at December 31, 2024 was $72.1 million compared to $52.2 million at December 31, 2023.

Earnings Call and Webcast

TILT management will host a conference call today at 5:00 p.m. Eastern time to discuss its financial and operational results, business strategy and future outlook, followed by a question-and-answer period.

Date: Wednesday, March 19th, 2025
Time: 5:00 p.m. Eastern Time
Toll-free dial-in number: (877) 423-9813
International dial-in number: (201) 689-8573
Webcast: TILT Q4 & FY 2024 Earnings Call

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Elevate IR at (720) 330-2829.

The conference call will also be available for replay in the investor relations section of the Company’s website at www.tiltholdings.com.

About TILT

TILT Holdings manages a diverse portfolio of companies in the cannabis industry, encompassing technology, hardware, cultivation, and production. Its core business, Jupiter Research LLC, is a wholly owned subsidiary and a global distribution leader in the vaporization segment. Jupiter is dedicated to hardware design, research, development, and distribution to support cannabis brands and retailers across the United States, Canada, South America, and the European Union. Additionally, TILT is a multi-state operator, with cultivation and production facilities in three states under the Commonwealth Alternative Care and Standard Farms brands. For more information, visit www.tiltholdings.com.

Forward-Looking Information

This news release contains forward-looking information and statements (together, “forward-looking information”) under applicable Canadian and U.S. securities laws which are based on current expectations. Forward-looking information is provided for the purpose of presenting information about TILT management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information may include, without limitation, outcome of the Company’s strategic review of plant touching assets, expected completion and timeline of divestitures of plant-touching assets, increased focus and growth of Jupiter in relation to any potential divestiture of the plan touching assets, advanced certification of the medical devices in Europe with expectations for the second quarter and related expansion of sales, strengthening of TILT’s balance sheet, TILT’s beliefs about working through the leadership transition, expectations relating to the impact of the leadership change on TILT’s operations, TILT’s expectations on reductions in corporate overhead and headcount and re-alignment of its business, TILT’s business strategy and growth opportunities, the opinions or beliefs of management, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies, and outlook of TILT, and includes statements about, among other things, future developments, the future operations, strengths and strategy of TILT. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “will”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These statements should not be read as guarantees of future performance or results. These statements are based upon certain material factors, assumptions and analyses that were applied in drawing a conclusion or making a forecast or projection, including TILT’s experience and perceptions of historical trends, the ability of TILT to maximize shareholder value, current conditions and expected future developments, as well as other factors that are believed to be reasonable in the circumstances.

Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. TILT assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

By its nature, forward-looking information is subject to risks and uncertainties, and there are a variety of risk factors, many of which are beyond the control of TILT, and that may cause actual outcomes to differ materially from those discussed in the forward-looking information. Such risk factors include, but are not limited to, TILT’s ability to find a permanent successor executive, the impact of the announcement of the leadership change on TILT’s stock, performance, operations, results of operations, employees, suppliers and customers, TILT’s ability to successfully work through the leadership transition, TILT’s ability to execute on its business optimization strategy, capital preservation and cash generation, and reductions in corporate overhead and headcount and re-alignment of its business and those risks described under the heading “Item 1A Risk Factors” in the Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and “Item 1A Risk Factors” in the Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 and other subsequent reports filed by TILT with the United States Securities and Exchange Commission at www.sec.gov and on SEDAR+ at www.sedarplus.ca.

Non-GAAP Financial and Performance Measures

In addition to providing financial measurements based on GAAP, the Company provides additional financial metrics that are not prepared in accordance with GAAP. Management uses non-GAAP financial measures, in addition to GAAP financial measures, to understand and compare operating results across accounting periods, for financial and operational decision making, for planning and forecasting purposes and to evaluate the Company’s financial performance. These non-GAAP financial measures are Adjusted Gross Margin, Adjusted Net Income (Loss), EBITDA and Adjusted EBITDA. Management believes that these non-GAAP financial measures reflect the Company’s ongoing business in a manner that allows for meaningful comparisons and analysis of trends in the business, as they facilitate comparing financial results across accounting periods and to those of peer companies. Management also believes that these non-GAAP financial measures enable investors to evaluate the Company’s operating results and future prospects in the same manner as management. These non-GAAP financial measures may also exclude expenses and gains that may be unusual in nature, infrequent or not reflective of the Company’s ongoing operating results.

As there are no standardized methods of calculating these non-GAAP measures, the Company’s methods may differ from those used by others, and accordingly, the use of these measures may not be directly comparable to similarly titled measures used by others.

Accordingly, these non-GAAP measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.

EBITDA and Adjusted EBITDA.

EBITDA and Adjusted EBITDA are financial measures that are not defined under GAAP. The Company uses these non-GAAP financial measures, and believes they enhance an investor’s understanding of the Company’s financial and operating performance from period to period, because they exclude certain material non-cash items and certain other adjustments management believes are not reflective of the Company’s ongoing operations and performance. EBITDA is calculated as EBITDA net income (loss), plus (minus) income taxes (recovery), plus (minus) finance expense (income), plus depreciation and amortization expense. Adjusted EBITDA is EBITDA excluding certain one-time, non-cash or non-operating expenses, as determined by management, including stock compensation expense, debt issuance costs and severance.

Company Contact:

Lynn Ricci, VP of Investor Relations & Corporate Communications
TILT Holdings Inc.
lricci@tiltholdings.com

Investor Relations Contact:

Sean Mansouri, CFA
Elevate IR
TILT@elevate-ir.com
720.330.2829

          
Consolidated Statements of Operations and Comprehensive Loss
(Amounts Expressed in Thousands of United States Dollars)
(Unaudited)
    
 Three Months Ended  Year Ended
 December 31, September 30, December 31,  December 31, December 31,
 2024 2024 2023 2024 2023
Revenues, net$24,562  $26,967  $37,538  $115,614  $165,956 
Cost of goods sold (19,280)  (23,172)  (33,958)  (95,561)  (141,580)
Gross profit  5,282   3,795   3,580   20,053   24,376 
               
Operating expenses:              
Wages and benefits 4,118   4,453   4,758   17,704   21,120 
General and administrative 3,074   2,691   3,822   12,571   17,692 
Sales and marketing 124   140   294   593   1,163 
Share-based compensation (178)  131   210   83   (1,665)
Depreciation and amortization 3,855   3,856   3,886   15,439   16,618 
Impairment loss and loss on disposal of assets 27,353      7,465   43,093   12,600 
Total operating expenses 38,346   11,271   20,435   89,483   67,528 
Operating loss (33,064)  (7,476)  (16,855)  (69,430)  (43,152)
               
Other income (expense):              
Interest income 1         4    
Other income 55   105   26   874   128 
Gain (loss) on sale of assets and membership interests       (2)     8,882 
Unrealized loss on investment          (1)  (6,401)
Loan receivable losses             (5,602)
Loss on foreign currency exchange       6   (4)  (12)
Interest expense (6,870)  (6,683)  (5,072)  (26,388)  (20,999)
Total other (expense) income (6,814)  (6,578)  (5,042)  (25,515)  (24,004)
Loss from operations before income tax and non-controlling interest (39,878)  (14,054)  (21,897)  (94,944)  (67,156)
               
Income taxes              
Income tax benefit (expense) (1,545)  1,405   (54)  (4,725)  3,339 
Net loss before non-controlling interest (41,423)  (12,649)  (21,951)  (99,670)  (63,817)
Less: Net income attributable to non-controlling interest             1,433 
Net loss attributable to TILT Holdings Inc. $(41,423) $(12,649) $(21,951) $(99,670) $(62,384)
               


Reconciliation of Non-GAAP Measures
(Amounts Expressed in Thousands of United States Dollars)
(Unaudited)
                    
 Three Months Ended
 Year Ended
 December 31,
 September 30,
 December 31,
 December 31,
 December 31,
  2024  2024  2023  2024  2023
Net (loss) income before non-controlling interest$                  (41,423) $                  (12,649) $                  (21,951) $                  (99,670) $                  (63,817)
                    
Add (Deduct) Impact of:                   
Interest income (1)        (4)   
Interest expense 6,870   6,683   5,072   26,388   20,999 
Income tax expense (benefit) 1,545   (1,405)  54   4,725   (3,339)
Depreciation and amortization 5,342   5,356   5,726   22,064   24,139 
Total Adjustments 13,756   10,634   10,852   53,173   41,799 
                    
EBITDA (Non-GAAP)$                  (27,667) $                    (2,015) $                  (11,099) $                  (46,497) $                  (22,018)
                    
Add (Deduct) Impact of:                   
Share-based compensation (178)  131   210   83   (1,665)
Severance 404   48   (13)  473   1,067 
(Gain) loss on sale of assets       2      (8,882)
Legal settlement 105         105   258 
Unrealized loss on investment in equity security          1   6,401 
Loss on loan receivable             5,602 
Impairment loss and loss on disposal of assets 27,353      7,465   43,093   12,600 
Foreign exchange (gain) loss       (6)  4   12 
Non-cash inventory adjustment 526   270   1,723   1,024   7,554 
One time bad debt expense             384 
One time adjustments       77   (465)  747 
Total Adjustments 28,210   449   9,458   44,318   24,078 
                    
Adjusted EBITDA (Non-GAAP)                          543                       (1,566)                      (1,641)                      (2,179)                        2,060 
                    
Net loss before non-controlling interest                   (41,423)                    (12,649)                    (21,951)                    (99,670)                    (63,817)
Add (Deduct) Impact of:                   
Impairment loss and loss on disposal of assets 27,353      7,465   43,093   12,600 
Adjusted net loss before non-controlling interest                   (14,070)                    (12,649)                    (14,486)                    (56,577)                    (51,217)
                    


Consolidated Statements of Cash Flows
(Amounts Expressed in Thousands of United States Dollars)
      
 Year Ended
 December 31, 2024 December 31, 2023
Net cash (used in) provided by operating activities$(189) $5,367 
Net cash (used in) provided by investing activities (742)  13,170 
Net cash provided by (used in) financing activities 1,913   (18,691)
Effect of foreign exchange on cash and cash equivalents (11)  (14)
Net change in cash and cash equivalents 971   (168)
      
Cash and cash equivalents and restricted cash, beginning of year 3,332   3,500 
      
Cash and cash equivalents and restricted cash, end of year$4,303  $3,332 
      


Consolidated Balance Sheets (Select Items)
(Amounts Expressed in Thousands of United States Dollars)
(Unaudited)
       
 Year Ended
 December 31, 2024
 December 31, 2023
Cash and cash equivalents$3,003  $2,034 
Restricted cash 1,300   1,298 
Trade receivables and others 11,904   17,919 
Inventories 22,505   32,908 
Total current assets 40,847   56,274 
Property, plant & equipment, net 30,733   51,185 
Total assets 151,324   231,188 
Total current liabilities 87,455   76,072 
Total long-term liabilities 101,071   92,723 
Total shareholders’ equity (37,202)  62,393 
       


Reconciliation of Non-GAAP Measures for Gross Profit
(Amounts Expressed in Thousands of United States Dollars)
(Unaudited)
    
 Three Months Ended  Year Ended
 December 31, September 30, December 31, December 31, December 31,
 2024 2024 2023 2024 2023
Revenues, net$24,562  $26,967  $37,538  $115,614  $165,956 
Cost of goods sold (19,280)  (23,172)  (33,958)  (95,561)  (141,580)
Gross profit $ 5,282   3,795   3,580   20,053   24,376 
Gross profit % 21.5%  14.1%  9.5%  17.3%  14.7%
               
Add (Deduct) Impact of:              
One-time adjustment*       77   (465)  747 
Non-cash inventory adjustment 526   270   1,723   1,024   7,554 
Total Adjustments 526   270   1,800   559   8,301 
               
Adjusted gross profit $ (Non-GAAP) 5,808   4,065   5,380   20,612   32,677 
Adjusted gross profit % (Non-GAAP) 23.6%  15.1%  14.3%  17.8%  19.7%
               
* One-time adjustment related to Taunton's Host Fee Reversal
               

FAQ

What were TILT Holdings (TLLTF) Q4 2024 financial results?

Q4 2024 revenue was $24.6M (down from $37.5M YoY) with a net loss of $41.4M. Gross margin improved to 22% from 10% YoY.

How much is TLLTF selling its Massachusetts retail assets for?

TILT Holdings is selling its Massachusetts retail locations to In Good Health for $2 million, with regulatory approvals expected in Q2 2025.

What was TLLTF's full-year 2024 revenue and net loss?

Full-year 2024 revenue was $115.6M (down from $166.0M in 2023) with a net loss of $99.7M (increased from $62.4M loss in 2023).

How much cash does TLLTF have as of December 31, 2024?

TILT Holdings had $4.3 million in cash, cash equivalents and restricted cash as of December 31, 2024.
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2.78M
319.87M
7.93%
0.16%
Drug Manufacturers - Specialty & Generic
Healthcare
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United States
Phoenix