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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.
Tilray reported financial results for Q2 ended November 30, 2022, highlighting a net revenue of $144.1 million, with a free cash flow of $25.4 million and operating cash flow of $29.2 million. The company maintained its leading market share in Canada at 8.3%. Despite facing industry challenges, Tilray achieved adjusted EBITDA of $11.7 million for the 15th consecutive quarter. Notably, Tilray completed the acquisition of Montauk Brewing Company, contributing to a 56% increase in beverage-alcohol sales to $21.4 million year-over-year.
Tilray Brands, a global cannabis lifestyle company, will release its financial results for the second quarter ending November 30, 2022, on January 9, 2023. The earnings call will be held at 8:30 AM ET, accessible via the company's website and the Public.com investor app. Investors can submit questions through the Say Technologies platform until January 8, 2023. Tilray aims to be a trusted leader in cannabis consumer products, with a focus on innovation and a diverse portfolio of over 20 brands across multiple countries.
Tilray Brands (Nasdaq: TLRY) has launched a new limited edition premium craft flower series named RIFF, featuring two exclusive collections: Orbital Indica and Crossfade Sativa.
This series includes strains like Cherry Moon Pie, Purple Cotton Candy, Melonaide, and Juicy Fruit, each with high THC potencies and unique terpene profiles. Available only in select markets in Canada, these strains are produced with advanced techniques to ensure quality. Once sold out, they will not be restocked, emphasizing their exclusivity.
Tilray Brands has launched the Peppermint Phatty 510 vape cartridge, enhancing its Good Supply product line across Canada. This new 1g cartridge, featuring peppermint and vanilla flavors, claims to be the company's most potent vape yet. It aims to cater to cannabis enthusiasts looking for high-quality and innovative products. The launch comes during the holiday season, positioning the brand to attract more customers. Good Supply has established itself as a leading Canadian cannabis brand, known for its classic strains and popular product offerings.
Tilray Brands, a global cannabis company, announced the launch of the Take Back Control platform aimed at connecting women with free resources on medical cannabis. The initiative focuses on providing consultations with healthcare practitioners specializing in women’s health to help women make informed decisions regarding medical cannabis. Currently available in Canada, the platform simplifies access to healthcare professionals, allowing women to address their health needs. Tilray Medical is committed to enhancing patient dignity through reliable access to medical cannabis.
Tilray Brands has expanded its CANACA cannabis brand with the launch of three high-potency BHO-infused products: Shredded Weedies™, Crumble Cones™, and Indica 30. These products aim to enhance the cannabis experience for consumers in Canada. The #FeelTheBoost campaign promotes these new offerings, which include infused milled flower and pre-rolls, ensuring consistency and convenience. The products will be available in select regions and retailers across Canada, marking a strategic update in Tilray's product portfolio.
Tilray Brands has acquired Montauk Brewing Company, the #1 craft brewer in Metro New York. This strategic move aims to enhance Tilray's U.S. beverage-alcohol segment, which includes SweetWater Brewing and other brands. Montauk Brewing, known for its strong market presence and distribution across 6,400 retail points, is expected to contribute positively to Tilray's adjusted EBITDA. Veteran executive Ty H. Gilmore has been appointed President of Tilray’s U.S. beer business to drive growth.
Tilray Brands has announced a strategic partnership with Charlotte’s Web to launch their proprietary full-spectrum hemp CBD products across Canada in 2023. This collaboration allows for the nationwide distribution of Charlotte’s Web’s products, which were previously available solely through special medical access. The initiative aims to meet the growing demand for natural wellness options in Canada, expanding Tilray's distribution from dispensaries to mass retail. Initial product availability is expected in early 2023, including oil tinctures, gummies, and topical creams.
Charlotte's Web Holdings and Tilray Brands have formed a strategic alliance to manufacture and distribute Charlotte's Web CBD products across Canada. This partnership enables the availability of full-spectrum CBD products nationwide, addressing specific wellness needs for Canadians, who previously accessed these products only through special medical exemptions. Expected product launches include oil tinctures, gummies, and topicals in early 2023. The collaboration aims to leverage Tilray's established infrastructure for distribution and enhance market access for Charlotte's Web's trusted hemp extract products.
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