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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 Brands, Inc. announced the renewal and expansion of Breckenridge Distillery's distribution agreement with Republic National Distributing Company (RNDC). This agreement allows for direct access to RNDC’s extensive network covering 38 states and the District of Columbia. Breckenridge Distillery, known for its award-winning spirits, including bourbon whiskey, aims to accelerate brand growth through this partnership. Breckenridge’s products have received numerous accolades, enhancing the distillery's profile and market reach.
Tilray Brands (Nasdaq: TLRY) has initiated a policy roundtable with German regulators to discuss adult-use cannabis legalization. The meeting featured German Drug Commissioner Burkhard Blienert, who announced a draft bill for legalization expected soon. Tilray aims to leverage its expertise to support this legislation, emphasizing product quality and safety. The company has a strong history in the cannabis sector, being the first to export medical cannabis from North America to the EU. Tilray's operations in Germany include EU-GMP certified production facilities.
Tilray Brands (Nasdaq: TLRY) has announced the expansion of its Good Supply cannabis portfolio, introducing new high-potency concentrates: Jean Guy Badder, Pineapple Express Hash Bats, and Orange Frost Live Resin. These products highlight the brand's commitment to quality and consumer experience, offering enhanced potency and flavor. Additionally, the launch of two new strains, Monkey Butter and Sweet Berry Kush, is set to reach new sizes and provinces, following strong demand. Good Supply remains a prominent brand in Canada’s cannabis market.
Tilray Brands has expanded its medical cannabis portfolio in Canada with new products under the Tilray and Aphria brands. Notably, it introduced CannaPoints, a program designed to support patients in their medical cannabis journey. The product line includes high-THC strains such as Tilray Sinaloa Gold and Aphria Sherbet Cookies, catering to diverse patient needs. Additionally, Tilray Medical partnered with Strainprint to enhance patient experience through the CannaPoints program, which guides users in exploring cannabis products and tracking their effects.
Tilray Medical, a division of Tilray Brands (Nasdaq: TLRY), has received approval from the Natural Health Science Foundation (NHSF) for its CBD100 product to be utilized in clinical trials in Australia and New Zealand. This verification highlights Tilray’s commitment to quality and safety in medical cannabis. The NHSF approval confirms that Tilray Purified Oral Solution meets rigorous standards for reproducibility and scientific validity. Additionally, the New Zealand Ministry of Health has verified product quality, further establishing Tilray Medical as a trusted provider in the region.
Tilray Brands has received approval from the Polish Ministry of Health to distribute its Tilray branded medical cannabis products in Poland, enhancing its European market presence.
Tilray Medical, which operates in 21 countries, focuses on providing high-quality THC and CBD products to patients. The company has established partnerships with local pharmaceutical companies to facilitate pharmacy distribution, allowing patients to obtain prescriptions through their doctors.
Tilray continues to advocate for patient access to reliable medical cannabis across Europe.
Breckenridge Distillery has announced the release of two limited-edition Mile High Bourbon Blends, launching on August 8, 2022. This collaboration with the Denver Broncos features alumni Jake Plummer and Karl Mecklenburg blending bourbons that encapsulate unique flavor profiles. The blends, encased in commemorative bottles, celebrate the Broncos' legacy. The first blend received accolades, including Best American Blended Whiskey. Breckenridge Distillery, known for its award-winning spirits, was acquired by Tilray Brands, Inc. in December 2021.
Tilray Brands has announced a strategic distribution agreement with Southern Glazer's Wine & Spirits for its Tilray Wellness division. This deal grants access to Southern Glazer's extensive distribution network, reaching various retail channels across 13 states, paving the way for Tilray's entry into the booming CBD beverage market. Jared Simon, President of Tilray Wellness, noted that this partnership positions the company for significant growth in the multi-billion-dollar adult beverage sector with a non-alcoholic CBD alternative.
Tilray reported FY2022 net revenue growth of 22% to $628 million, with Q4 net revenue increasing 8% to $153 million. Adjusted EBITDA for FY2022 reached $48 million. A net loss of $434 million included a non-cash impairment of $395 million. The company aims for $70-$80 million in adjusted EBITDA and to be free cash flow positive for FY2023. Significant cost savings of $100 million are expected from operational synergies. The HEXO acquisition positions Tilray for further growth in North America and Europe.
Tilray Brands has launched WeCare-MedicalCannabis, a new educational platform aimed at healthcare professionals and patients to enhance knowledge about medical cannabis. Available in English, German, French, and Portuguese, this resource offers science-based content to help users make informed decisions regarding medicinal cannabis use. Managing Director Sascha Mielcarek emphasized the importance of bridging the educational gap in the expanding market of medical cannabis, particularly as legalization increases in Europe. The platform aims to support global health initiatives.
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