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Tilray Brands, Inc. (NASDAQ: TLRY) is a pioneering company in the field of medical and recreational cannabis production and research. Headquartered in Canada, Tilray has positioned itself as a global leader with a commitment to providing safe, consistent, and reliable therapy to patients and consumers worldwide. The company operates in multiple regions, including Canada, the United States, Europe, Australia, and Latin America, serving a diverse clientele ranging from patients and physicians to pharmacies, hospitals, and governments.
In 2021, Tilray underwent a significant transformation when legacy Aphria acquired legacy Tilray through a reverse merger, consolidating their strengths under the name Tilray Brands, Inc. This strategic merger expanded Tilray's market reach and product portfolio, bolstering its position in both the medical cannabis export market and the recreational cannabis sector.
Tilray's core offerings include a comprehensive range of cannabis products, from medical cannabis treatments to CBD products and alcoholic beverages. One of its latest ventures is the Ridge Runner West Coast IPA, a craft beer that has gained popularity for its complex flavors and craftsmanship. Additionally, Tilray's subsidiary, Widmer Brothers Brewing, recently launched a new Hefe Variety 12 Pack, showcasing innovative wheat beer styles.
The company is also making strides in the cannabis beverage market with the introduction of XMG Zero and XMG+ beverages. These products offer a variety of THC and CBG ratios, bringing unique flavors and high-quality ingredients to consumers across Canada.
Tilray's commitment to innovation extends beyond beverages. Solei, one of its wellness brands, has introduced the Warming Deep Tissue Stick, a cannabis-infused topical solution designed for active lifestyle enthusiasts. Meanwhile, Good Supply has released the Twisted All-in-One rechargeable vape, offering a potent and flavorful vaping experience.
Overall, Tilray Brands, Inc. continues to lead the way in cannabis research, cultivation, and distribution, with a diversified portfolio that caters to the needs of a global community. The company remains dedicated to enhancing the lives of its consumers through high-quality, innovative products that inspire well-being.
The global cannabis pharmaceuticals market is projected to reach USD 127.1 billion by 2028, expanding at a CAGR of 104.2% from 2022. The COVID-19 pandemic has increased cannabis product consumption, notably in treating chronic illnesses like cancer and Parkinson's disease. Legalization in various countries bolsters market growth, with many regions recognizing medical cannabis as essential. Major players include Tilray (NASDAQ: TLRY) and Jazz Pharmaceuticals (NASDAQ: JAZZ), with significant partnerships, such as Brains Bioceutical's agreement with Prati-Donaduzzi for CBD supply in Brazil. Trulieve and Curaleaf are also expanding their market presence. Despite challenges, the cannabis pharmaceuticals sector is set for considerable expansion, driven by increasing demand and supportive legislation.
Tilray Brands reported net revenue of $145.6 million for Q3 2023, marking a slight increase from $144.1 million in the previous quarter. The company achieved its 16th consecutive quarter of positive adjusted EBITDA at $14.0 million. A significant acquisition of HEXO Corp. for $56 million is set to enhance Tilray's market position in Canada, which is the largest federally legal cannabis market globally. Tilray maintains a 12.9% pro-forma market share and aims to bolster its high-growth potential in the U.S. consumer packaged goods and craft-beverage sector. The company emphasizes its commitment to operational efficiency and cash flow positivity. Despite a $1.1 billion non-cash asset reduction due to market conditions, it reassures investors of its strong cash position of $408.3 million.
Tilray Brands (Nasdaq: TLRY) has expanded its presence in Europe through a new partnership with Cansativa Group, enhancing the distribution of EU-GMP certified medical cannabis in the Czech Republic. This strategic alliance aims to improve the access of medicinal cannabis products for patients in pharmacies and hospitals. Denise Faltischek, Chief Strategy Officer, expressed pride in this initiative, highlighting their commitment to patient advocacy and quality products. Tilray Medical, a leading global provider of medical cannabis, operates in over 20 countries, ensuring safe access to a diverse portfolio of cannabis brands. This development marks a significant step in advancing Tilray’s mission to support medical cannabis patients worldwide.
SweetWater Brewing Company, the 10th largest craft brewer in the U.S., announces that its family of brands, which includes Green Flash and Alpine Beer, is now available in Nevada. This expansion increases distribution to over 50,000 points across 44 states. Key retailers now offering the beers include Costco, Walmart, and Whole Foods Market. Ty Gilmore, President, U.S. Beer at Tilray Brands, emphasizes the potential of the Nevada market in their strategic expansion. SweetWater’s portfolio includes popular offerings like 420 Extra Pale Ale and West Coast IPA. SweetWater, founded 26 years ago, is committed to conservation efforts through its Save Our Water campaign, supporting organizations focused on clean water initiatives.
Manitoba Harvest, a subsidiary of Tilray Brands (TLRY), has unveiled its first Regenerative Organic Certified™ Hemp Hearts at select Whole Foods Market locations starting April 2023. This product launch comes as consumer interest in hemp-based foods surges, with hemp ingredient products growing 1.5 times faster than chia and flax alternatives. Each serving of Hemp Hearts offers 10g of protein and 12g of omega fatty acids. Committed to sustainability, Manitoba Harvest collaborates with farmers to support soil health and biodiversity. The company holds both Certified B Corporation and Carbonzero Certification, underlining its dedication to environmental stewardship.
Alpine Beer, a renowned craft brand from SweetWater Brewing Company, opens a new taproom at Petco Park in San Diego, enhancing the fan experience during the baseball season. Located in section 311, the taproom offers a selection of popular brews, including Nelson IPA and Infinite Haze Hazy IPA, alongside local cuisine from Grand Ole BBQ. Fans can also enjoy an outdoor bar with breathtaking views of the San Diego Bay. The taproom will participate in Petco Beerfest events throughout the season, with special beer offerings and live music. This opening signifies Alpine Beer’s commitment to connecting with the local community and elevating the beverage experience at the ballpark.
Breckenridge Distillery has launched the first-ever National Après Day in the U.S. on March 31, promoting the après ski culture and encouraging people to share their après moments with the new #AprèsAnywhere campaign. This initiative invites individuals to post photos on Instagram for a chance to win a monthly swag bag from the distillery. The campaign aims to celebrate accomplishments in both skiing and general life, utilizing the distillery's award-winning spirits as inspiration. Breckenridge Distillery, a subsidiary of Tilray Brands (TLRY), is known for its highly awarded bourbon whiskey.
Tilray Brands, Inc. (Nasdaq: TLRY) announced it will release its third-quarter financial results for the period ending February 28, 2023, on April 10, 2023, after market close. A live audio webcast discussing these results will be held at 5:00 PM ET, accessible via Tilray's website. Stockholders can submit questions for the Q&A session until April 7, 2023, through the Say Technologies platform. Tilray operates globally in the cannabis and consumer packaged goods sectors, focusing on providing high-quality, differentiated products to enhance well-being.
Tilray Brands (NASDAQ | TSX: TLRY) has announced the expansion of Montauk Brewing Company across the northeast, marking its availability in over 3,500 retail locations in New York, New Jersey, Connecticut, and Rhode Island. Montauk Brewing, recognized as the #1 craft brewer in Metro New York, aims to grow its brand nationally. The company has introduced new products like 19.2oz cans and the Ocean Series. Some of its best-selling beers include Wave Chaser IPA and Summer Ale. This strategic move is part of Tilray's plan to diversify its portfolio and enhance consumer accessibility.
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