Welcome to our dedicated page for Tilray Brands news (Ticker: TLRY), a resource for investors and traders seeking the latest updates and insights on Tilray Brands stock.
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 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.
Tilray Brands (Nasdaq: TLRY) expands its award-winning cannabis portfolio through its brand Good Supply. The new product release features high-potency strains, including Granddaddy Purps, Sour Diesel #2, and Frost Monster, with availability in 3.5g and 28g packages across Canada. Additionally, bestselling products like Monkey Butter and Sweet Berry Kush will be distributed coast to coast. Good Supply is recognized as a leading Canadian cannabis brand, catering to consumer preferences with an emphasis on quality and variety.
Breckenridge Distillery and Breckenridge Brewery have launched the second annual Buddy Pass, a limited edition whiskey and beer collaboration. This year, the Buddy Pass will be available in ten new markets starting October 24. The whiskey, with a proof of 114.7 and an MSRP of $49-$60, is crafted from Imperial Oatmeal Stout cask-aged bourbon, combining flavors of cinnamon, oak, and chocolate. The beer, a barrel-aged Imperial Oatmeal Stout, offers flavors of dark chocolate, espresso, and caramel. A $10 rebate is available when both products are purchased together in select markets.
Green Flash Brewing Company celebrates its 20th anniversary with a new WEST COAST IPA® lineup, featuring the classic beer alongside two new variants: Imperial West Coast IPA (8.9% ABV) and Hazy West Coast IPA (6.5% ABV). This year-round selection is now available in 12-ounce cans across the nation. The brand is also expanding its distribution into new states and plans to launch a WEST COAST IPA® Variety 24-pack by December. The refreshed branding emphasizes its San Diego roots and innovative craft beer offerings.
Tilray Brands reported net revenue of $153.2 million for the first fiscal quarter ended August 31, 2022. Adjusted EBITDA reached $13.5 million, marking the 14th consecutive quarter of positive results. The cannabis gross margin improved to 51%, up from 43% year-over-year. The company confirmed guidance for adjusted EBITDA between $70-$80 million and aims to achieve $130 million in cost savings. Tilray maintains the #1 cannabis market share in Canada and Germany, demonstrating strong performance amid macroeconomic challenges.
Tilray Brands has successfully relaunched its EU GMP-produced medical cannabis oral solution in Ireland under the Medical Cannabis Access Program (MCAP). The product now has reimbursement approval, enhancing accessibility for patients. This strategic move allows patients in Ireland to access Tilray’s full-spectrum medical cannabis oil solution. Tilray Medical, which operates in 22 countries, aims to expand its product offerings in accordance with local regulations. The company is committed to providing high-quality medical cannabis products, supporting patient health and well-being.
SweetWater Brewing Company, a subsidiary of Tilray Brands (NASDAQ: TLRY), announced the launch of its fall craft beer lineup, featuring the new H.A.Z.Y. Double IPA and the return of the Mosaic Single Hop Hazy IPA. The H.A.Z.Y. Double IPA (8.5% ABV) is characterized by tropical flavors and a smooth body, while the Mosaic IPA (6.2% ABV) offers complex citrus notes. Both beers will be available starting October 3 across select U.S. markets. This release coincides with SweetWater's 25th anniversary and includes a commitment to conservation initiatives, promoting clean water as part of its mission.
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