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TILT Holdings Reports Second Quarter 2024 Results

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TILT Holdings Inc. (Cboe: TILT) (OTCQB: TLLTF) reported its Q2 2024 financial results. Key highlights include:

- Revenue of $26.6 million, down from $41.6 million in Q2 2023
- Gross profit of $4.3 million with a 16.0% gross margin
- Net loss of $35.9 million, compared to $26.9 million loss in Q2 2023
- Adjusted EBITDA of $(1.2) million, down from $1.5 million in Q2 2023
- Cash provided by operating activities: $1.4 million

The company is transitioning its Jupiter hardware business to an asset-light, just-in-time supply model. TILT remains optimistic about growth opportunities, particularly in Ohio's newly launched adult-use program.

TILT Holdings Inc. (Cboe: TILT) (OTCQB: TLLTF) ha riportato i risultati finanziari per il secondo trimestre del 2024. I punti chiave includono:

- Fatturato di 26,6 milioni di dollari, in calo rispetto ai 41,6 milioni di dollari del Q2 2023
- Utile lordo di 4,3 milioni di dollari con un margine lordo del 16,0%
- Perdite nette di 35,9 milioni di dollari, rispetto alla perdita di 26,9 milioni di dollari nel Q2 2023
- EBITDA rettificato di -(1,2) milioni di dollari, in calo rispetto a 1,5 milioni di dollari nel Q2 2023
- Liquidità fornita dalle attività operative: 1,4 milioni di dollari

L'azienda sta trasformando il proprio business hardware Jupiter in un modello di approvvigionamento leggero e just-in-time. TILT rimane ottimista sulle opportunità di crescita, in particolare nel nuovo programma per adulti lanciato in Ohio.

TILT Holdings Inc. (Cboe: TILT) (OTCQB: TLLTF) reportó sus resultados financieros del segundo trimestre de 2024. Los puntos destacados incluyen:

- Ingresos de $26.6 millones, una caída desde $41.6 millones en el Q2 2023
- Ganancia bruta de $4.3 millones con un margen bruto del 16.0%
- Pérdida neta de $35.9 millones, comparada con una pérdida de $26.9 millones en el Q2 2023
- EBITDA ajustado de $(1.2) millones, en descenso desde $1.5 millones en el Q2 2023
- Efectivo proporcionado por actividades operativas: $1.4 millones

La compañía está convirtiendo su negocio de hardware Jupiter a un modelo de aprovisionamiento ligero y just-in-time. TILT se mantiene optimista sobre las oportunidades de crecimiento, particularmente en el nuevo programa de uso adulto lanzado en Ohio.

TILT Holdings Inc. (Cboe: TILT) (OTCQB: TLLTF)는 2024년 2분기 재무 결과를 발표했습니다. 주요 사항은 다음과 같습니다:

- 수익 2,660만 달러, 2023년 2분기 4,160만 달러에서 감소
- 총 이익 430만 달러, 총 이익률 16.0%
- 순손실 3,590만 달러, 2023년 2분기 2,690만 달러의 손실과 비교
- 조정 EBITDA -(120만 달러), 2023년 2분기 150만 달러에서 감소
- 영업 활동에서 창출된 현금: 140만 달러

회사는 Jupiter 하드웨어 사업을 자산 경량화 및 적시 공급 모델로 전환하고 있습니다. TILT는 오하이오의 새로 출시된 성인 프로그램에서 특히 성장 기회에 대해 낙관하고 있습니다.

TILT Holdings Inc. (Cboe: TILT) (OTCQB: TLLTF) a publié ses résultats financiers pour le deuxième trimestre 2024. Les points forts incluent :

- Chiffre d'affaires de 26,6 millions de dollars, en baisse par rapport à 41,6 millions de dollars au Q2 2023
- Bénéfice brut de 4,3 millions de dollars avec une marge brute de 16,0%
- Perte nette de 35,9 millions de dollars, comparée à une perte de 26,9 millions de dollars au Q2 2023
- EBITDA ajusté de -(1,2) million de dollars, en baisse par rapport à 1,5 million de dollars au Q2 2023
- Liquidités générées par les activités d'exploitation : 1,4 million de dollars

L'entreprise est en train de transformer son activité de matériel Jupiter en un modèle d'approvisionnement léger et juste-à-temps. TILT reste optimiste quant aux opportunités de croissance, en particulier dans le nouveau programme d'utilisation pour adultes lancé dans l'Ohio.

TILT Holdings Inc. (Cboe: TILT) (OTCQB: TLLTF) hat seine finanziellen Ergebnisse für das 2. Quartal 2024 veröffentlicht. Die wichtigsten Highlights sind:

- Umsatz von 26,6 Millionen Dollar, ein Rückgang von 41,6 Millionen Dollar im Q2 2023
- Bruttogewinn von 4,3 Millionen Dollar mit einer Bruttomarge von 16,0%
- Nettopverlust von 35,9 Millionen Dollar, im Vergleich zu einem Verlust von 26,9 Millionen Dollar im Q2 2023
- Bereinigtes EBITDA von -(1,2) Millionen Dollar, ein Rückgang von 1,5 Millionen Dollar im Q2 2023
- Liquidität aus operativen Tätigkeiten: 1,4 Millionen Dollar

Das Unternehmen ist dabei, sein Jupiter-Hardwaregeschäft in ein leichtes, just-in-time Beschaffungsmodell umzuwandeln. TILT bleibt optimistisch hinsichtlich der Wachstumschancen, insbesondere im neu gestarteten Erwachsenenprogramm in Ohio.

Positive
  • Sequential growth in plant-touching business
  • Improved gross margin from 9.7% to 16.0% year-over-year
  • Positive cash flow from operations of $1.4 million
  • Launch of new brands in Pennsylvania market
  • Transition to asset-light model for Jupiter hardware business
Negative
  • Revenue decreased by 36% year-over-year to $26.6 million
  • Net loss increased to $35.9 million from $26.9 million in Q2 2023
  • Adjusted EBITDA turned negative at $(1.2) million
  • Cash and cash equivalents decreased to $2.7 million from $3.3 million at year-end 2023
  • Production and supply chain issues impacted Jupiter hardware business performance

PHOENIX, Aug. 09, 2024 (GLOBE NEWSWIRE) -- TILT Holdings Inc. (“TILT" or the “Company”) (Cboe: 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 months ended June 30, 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.

“Our second quarter was highlighted by sequential growth on both the top and bottom line in our plant-touching business, as we continue cultivating strong customer relationships across our three markets,” said TILT’s Chief Executive Officer, Tim Conder. “However, in our Jupiter hardware business, we are navigating certain production and supply chain changes that impacted second quarter results. In response, we are working closely with our manufacturing partner as we transition to a just-in-time production and shipping structure. This change will create a more ‘asset-light’ business model for Jupiter, alleviating working capital requirements by reducing sitting inventory and the cost of capital associated with larger trade payables while improving our gross margin profiles. Jupiter’s shortfall in Q2 can be directly attributed to the transition to this new model; however, customer sales order volumes remain strong and growing, indicating the fundamentals of our business remain on track.”

“Looking ahead, the evolving regulatory landscape for cannabis presents an opportunity for TILT and our industry. We are optimistic about the prospects of cannabis rescheduling as the recently closed comment period ended with the vast majority of comments in favor of rescheduling. We believe growth opportunities exist in each of our markets, particularly in Ohio, with the state’s adult-use program being launched this week. Against this backdrop, we remain focused on strengthening our unit economics, improving our balance sheet, and returning TILT to growth and profitability.”

Q2 2024 Financial Summary

  • Revenue was $26.6 million in the three months ended June 30, 2024, compared to $41.6 million in the prior year period. The decrease in revenue was primarily driven by the Company’s Jupiter hardware business.
  • Gross profit was $4.3 million and gross margin was 16.0% in the three months ended June 30, 2024, compared to $4.0 million or 9.7% of revenue in the prior year period. The increase in gross margin was driven by improvements in all three of the Company’s plant-touching markets. Adjusted gross margin, which excludes non-cash inventory adjustments and one-time adjustments, in the second quarter was 16.8% compared to 16.0% in Q1 and 21.4% in the year-ago period.
  • Net loss was $35.9 million in the three months ended June 30, 2024, compared to a net loss of $26.9 million in the prior year period. The higher net loss was driven by a non-cash impairment charge.
  • Adjusted EBITDA (non-GAAP) was $(1.2) million in the three months ended June 30, 2024, compared to $1.5 million in the prior year period. The decrease was driven by the Company’s Jupiter hardware business.
  • Cash provided by operating activities in the second quarter was $1.4 million, compared to cash used of $3.3 million in the year ago period with the improvement primarily related to strong AR collection efforts and lower inventory purchases.
  • At June 30, 2024, the Company had $2.7 million of cash, cash equivalents and restricted cash compared to $3.3 million at December 31, 2023.

Q2 2024 & Recent Operational Highlights

  • Launched Level, a leading West Coast pressed tablet brand, in the Pennsylvania market in the second quarter.
  • Launched Edie Parker Flower, a leading and nationally recognized female founded and operated lifestyle brand merging the worlds of fashion and cannabis, in the Pennsylvania market in July, with vapes starting in August.
  • Began the transition to an asset-light, just-in-time supply model with Smoore Technology Limited (“Smoore”). During this transition, Jupiter will utilize the direct billing and invoicing efforts of Smoore to ease the impact of the change on Jupiter customers. During the limited duration transition period, Jupiter will receive a commission on sales to certain customers and Smoore shall bear certain expenses related to these sales, including freight and tariffs. Once the transition to the new model is complete, Jupiter will resume its billing and invoicing functions with these customers.

Earnings Call and Webcast

TILT management will host a conference call Friday, August 9, 2024 at 8:30 a.m. Eastern time to discuss its financial and operational results, business strategy, and future outlook, followed by a question-and-answer period.

Date: Friday, August 9, 2024
Time: 8:30 a.m. Eastern Time
Toll-free dial-in number: (877) 423-9813
International dial-in number: (201) 689-8573
Conference ID: 13747682
Webcast: TILT Q2 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 broadcast live and available for replay in the investor relations section of the Company’s website at www.tiltholdings.com.

About TILT

TILT helps cannabis businesses build brands. Through a portfolio of companies providing technology, hardware, cultivation and production, TILT services brands and cannabis retailers across 40 states in the U.S., as well as Canada, Israel, South America and the European Union. TILT’s core businesses include Jupiter Research LLC, a wholly-owned subsidiary and leader in the vaporization segment focused on hardware design, research, development and manufacturing; and cannabis operations, Commonwealth Alternative Care, Inc. in Massachusetts, Standard Farms LLC in Pennsylvania, and Standard Farms Ohio, LLC in Ohio. TILT is headquartered in Phoenix, Arizona. 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, the expectations with respect to growth, profitability and cash flow, the approval and timing of federal rescheduling or adult-use conversion by certain states in which TILT operates or plans to operate, the final nature or duration of the transitional commission structure, the impact on sales order volume on financial results, the approval and timing of the elimination of Section 280E taxes, the ability to counter the effects of hardware commoditization and pricing pressure in select markets, the ability to reduce debt and increase TILT’s cash reserves, the expected performance of the collaboration between TILT and its brand partners, timing and release of future product offerings, the opinions or beliefs of management, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies, and outlook of TILT and Jupiter, 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”, “seeks”, “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 statements. Such risk factors include, but are not limited to, the inability or failure of the federal government to reschedule cannabis as Schedule III and the state regulators to implement adult-use conversions by certain states in which TILT operates or plans to operate, TILT’s ability to continue as a going concern, TILT’s ability to operate its business without encountering any unforeseen delays and interruptions, unexpected geological or other effects, including failures to ship or shipping delays, weather conditions, shipping transportation, equipment failures, permitting delays or labor or contract disputes, TILT’s reliance on third-party suppliers to provide a sufficient supply of key materials necessary to satisfy customer demand for its products, TILT’s ability to enter into a forbearance agreement with its existing noteholders on acceptable terms or at all and achieve compliance with its debt covenants, TILT’s ability to generate sufficient liquidity, TILT’s ability to execute on its cost saving measures and initiatives, and those risks described under the heading “Item 1A. Risk Factors” in the Annual Report on Form 10-K for the year ended December 31, 2023, 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 measures 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, 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 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.

Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Net Income (Loss), EBITDA and Adjusted EBITDA.
Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Net Income (Loss), 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. The Company calculates Adjusted Gross Profit as Gross Profit plus non-cash inventory adjustments and one-time adjustments. The Company calculates Adjusted Gross Margin as Adjusted Gross Profit divided by revenue. Adjusted Net Income (Loss) is calculated as Net Income (Loss), plus (minus) non-cash impairment charges. 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.

Please see “Reconciliation of Non-GAAP Measures” below for further information.

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

Media Contact:

Drew Tybus
Oak Public Relations
tilt@oakpr.com
973-229-5425


Table 1: Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)     
(Amounts Expressed in Thousands of United States Dollars)            
    
 Three Months Ended  Six Months Ended
 June 30, March 31, June 30, June 30, June 30,
 2024  2024  2023  2024  2023 
Revenues, net$26,581  $37,504  $41,599  $64,085  $83,863 
Cost of goods sold (22,322)  (30,787)  (37,559)  (53,109)  (71,027)
Gross profit  4,259   6,717   4,040   10,976   12,836 
               
Operating expenses:              
Wages and benefits 4,637   4,496   5,871   9,133   11,655 
General and administrative 3,323   3,483   4,529   6,806   10,149 
Sales and marketing 187   142   290   329   694 
Share-based compensation 23   107   (2,358)  130   (2,065)
Depreciation and amortization 3,862   3,866   4,712   7,728   8,841 
Impairment loss and loss on disposal of assets 15,728   12   4,947   15,740   5,135 
Total operating expenses 27,760   12,106   17,991   39,866   34,409 
Operating loss (23,501)  (5,389)  (13,951)  (28,890)  (21,573)
               
Other (expense) income:              
Interest income 1   2   (64)  3    
Other income 510   204   3   714   100 
Gain (loss) on sale of assets and membership interests             8,401 
Unrealized loss on investment    (1)  (6,400)  (1)  (6,400)
Loan receivable losses       (5,200)     (5,588)
Loss on foreign currency exchange    (4)  (1)  (4)  (1)
Interest expense (6,792)  (6,043)  (5,466)  (12,835)  (9,558)
Total other (expense) income (6,281)  (5,842)  (17,128)  (12,123)  (13,046)
Loss from operations before income tax and non-controlling interest (29,782)  (11,231)  (31,079)  (41,013)  (34,619)
               
Income taxes              
Income tax benefit (expense) (6,165)  1,580   2,742   (4,585)  1,416 
Net loss before non-controlling interest (35,947)  (9,651)  (28,337)  (45,598)  (33,203)
Less: Net income attributable to non-controlling interest       1,442      1,433 
Net loss attributable to TILT Holdings Inc. $(35,947) $(9,651) $(26,895) $(45,598) $(31,770)
               


Table 2: Reconcilation of Non-GAAP Measures (Unaudited)            
(Amounts Expressed in Thousands of United States Dollars)            
               
 Three Months Ended  Six Months Ended
 June 30,
2024
 March 31,
2024
 June 30,
2023
 June 30,
2024
 June 30,
2023
Net (loss) income before non-controlling interest$ (35,947) $ (9,651) $ (28,337) $ (45,598) $ (33,203)
               
Add (Deduct) Impact of:              
Interest income (1)  (2)  64   (3)   
Interest expense 6,792   6,043   5,466   12,835   9,558 
Income tax expense (benefit) 6,165   (1,580)  (2,742)  4,585   (1,416)
Depreciation and amortization 5,682   5,684   6,695   11,366   12,675 
Total Adjustments 18,638  #10,145   9,483   28,783   20,817 
               
EBITDA (Non-GAAP)$ (17,309) $ 494   $ (18,854) $ (16,815) $ (12,386)
               
Add (Deduct) Impact of:              
Share-based Compensation 23   107   (2,358)  130   (2,065)
Severance 8   13   884   21   950 
(Gain) Loss on Sale of Assets             (8,401)
Legal Settlement       93      258 
Unrealized Loss on Investment in Equity Security    1   6,400   1   6,400 
Loss on Loan Receivable       5,200      5,588 
Impairment Loss and Loss on Disposal of Assets 15,728   12   4,947   15,740   5,135 
Foreign Exchange (Gain) Loss    4   1   4   1 
Non-Cash Inventory Adjustment 215   13   4,878   228   4,878 
One Time Bad Debt Expense             384 
One Time Adjustments 141   (606)  348   (465)  718 
Total Adjustments 16,115   (456)  20,393   15,659   13,846 
               
Adjusted EBITDA (Non-GAAP)  (1,194)   38     1,539     (1,156)   1,460  
               
Net Loss Before Non-Controlling Interest  (35,947)   (9,651)   (28,337)   (45,598)   (33,203)
Add (Deduct) Impact of:              
Impairment Loss and Loss on Disposal of Assets 15,728   12   4,947   15,740   5,135 
Adjusted Net Loss Before Non-Controlling Interest  (20,219)   (9,639)   (23,390)   (29,858)   (28,068)
               


Table 3: Condensed Consolidated Statements of Cash Flows (Unaudited) 
(Amounts Expressed in Thousands of United States Dollars)   
      
  Six Months Ended
  June 30,
2024
  June 30,
2023
Net Cash (Used in) Provided by Operating Activities$(1,697) $440 
Net Cash (Used in) Provided by Investing Activities (415)  11,882 
Net Cash Provided by (Used in) Financing Activities 1,465   (11,704)
Effect of Foreign Exchange on Cash and Cash Equivalents (8)  (5)
Net Change in Cash and Cash Equivalents (655)  613 
      
Cash and Cash Equivalents and Restricted Cash, Beginning of Period 3,332   3,500 
      
Cash and Cash Equivalents and Restricted Cash, End of Period$2,677  $4,113 
      


Table 4: Condensed Consolidated Balance Sheets (Select Items)
(Amounts Expressed in Thousands of United States Dollars)
      
 Periods Ended
  June 30,
2024
  December 31,
2023
  (unaudited)  (audited)
Cash and Cash Equivalents$1,377 $2,034
Restricted Cash 1,300  1,298
Trade Receivables and Others 11,233  17,919
Inventories 27,487  32,908
Total Current Assets 42,863  56,274
Property, Plant & Equipment, Net 32,831  51,185
Total Assets 189,922  231,188
Total Current Liabilities 77,825  76,072
Total Long-Term Liabilities 95,180  92,723
Total Shareholders’ Equity 16,917  62,393
      


Reconcilation of Non-GAAP Measures for Gross Profit        
(Amounts Expressed in Thousands of United States Dollars)       
    
 Three Months Ended  Six Months Ended
 June 30, March 31,  June 30, June 30,June 30,
 2024 2024 2023 20242023
Revenues, net$26,581  $37,504  $41,599  $64,085 $83,863 
Cost of goods sold (22,322)  (30,787)  (37,559)  (53,109) (71,027)
Gross profit $ 4,259   6,717   4,040   10,976  12,836 
Gross profit % 16.0%  17.9%  9.7%  17.1% 15.3%
              
Add (Deduct) Impact of:             
One-Time Adjustment*    (717)     (717)  
Non-Cash Inventory Adjustment 215   13   4,878   228  4,878 
Total Adjustments 215   (704)  4,878   (489) 4,878 
              
Adjusted Gross Profit $ (Non-GAAP) 4,474   6,013   8,918   10,487  17,714 
Adjusted Gross Profit % (Non-GAAP) 16.8%  16.0%  21.4%  16.4% 21.1%
              
* One-time adjustment related to Taunton's Host Fee Reversal         
              

FAQ

What was TILT Holdings' (TLLTF) revenue for Q2 2024?

TILT Holdings reported revenue of $26.6 million for Q2 2024, compared to $41.6 million in the same period last year.

How did TILT Holdings' (TLLTF) gross margin change in Q2 2024?

TILT Holdings' gross margin improved to 16.0% in Q2 2024, up from 9.7% in the prior year period.

What was TILT Holdings' (TLLTF) net loss for Q2 2024?

TILT Holdings reported a net loss of $35.9 million for Q2 2024, compared to a net loss of $26.9 million in Q2 2023.

How is TILT Holdings (TLLTF) changing its Jupiter hardware business model?

TILT Holdings is transitioning its Jupiter hardware business to an asset-light, just-in-time supply model to reduce inventory and improve gross margins.

What new brands did TILT Holdings (TLLTF) launch in Q2 2024?

TILT Holdings launched Level, a West Coast pressed tablet brand, in the Pennsylvania market during Q2 2024.

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