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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 (Nasdaq: TLRY) has launched Good Supply TV, a new educational video series, alongside an expansion of its Good Supply cannabis portfolio. The new offerings include high-potency products such as liquid wax vapes and unique flower strains like Sweet Berry Kush and Monkey Butter in Canada. These products aim to enhance consumer knowledge and enjoyment while catering to the growing market of concentrate enthusiasts. The series is intended to provide key insights for budtenders and consumers alike.
Breckenridge Distillery announces its second annual Collectors Art Series, featuring the first female artist, Alexandrea Pangburn, for a limited release XO Cognac Cask Finish Whiskey. Available for $125 from May 6, this special edition label showcases Pangburn's nature-inspired artwork. The distillery will donate $5 from each bottle sold to the ArtPark campaign in the RiNo Arts District, supporting innovative arts initiatives. Breckenridge Distillery is renowned for its award-winning spirits and commitment to local artists.
Breckenridge Distillery, located in Breckenridge, Colorado, achieved significant accolades at the 2022 San Francisco World Spirits Competition, winning Double Gold medals for both Breckenridge Gin and Breckenridge PX Sherry Cask Finish, along with a Gold medal for Breckenridge Port Cask Finish. The competition featured around 5,000 spirits judged by 70 experts. Founder Bryan Nolt expressed pride in the recognition, affirming the distillery's commitment to quality. The awarded spirits are priced at $30 (Gin) and $60 (both Sherry and Port Cask Finishes).
Tilray Brands (TLRY) has entered into a strategic partnership with HEXO Corp aimed at enhancing operational efficiency and product innovation in the competitive cannabis market. The deal involves Tilray acquiring a US$193 million convertible note from HEXO, which will allow for a significant equity stake in HEXO at a conversion price of C$0.85 per share. The partnership is expected to generate up to US$80 million in cost synergies over two years and will facilitate the sharing of expertise and resources in cannabis product development.
Tilray Brands (TLRY) reported a net income of $52.5 million and adjusted EBITDA of $10.1 million for Q3 FY2022. Net revenue rose 23% to $152 million, driven by a 32% increase in cannabis revenue and a 64% increase in beverage alcohol revenue. The company achieved $76 million in cost synergies, on track to exceed its $80 million target ahead of schedule. Tilray maintains its leading market share in Canada at 10.2% and holds a 20% share in the German medical cannabis market, positioning itself for future growth.
Manitoba Harvest, a leading hemp foods brand and a subsidiary of Tilray Brands (TLRY), has launched its innovative Hemp+ Matcha and Hemp+ Supergreens powders exclusively at over 300 Whole Foods Market locations across the U.S. The products debuted in April 2022, with each serving providing 6 grams of plant-based protein and 2-3 grams of fiber. This collaboration highlights the increasing popularity of hemp-based foods and the commitment to quality. The powders will remain available after the initial 90-day exclusivity.
Tilray Brands has launched Solei Bites, its first THC edible, exclusively available at the Société Québécoise du cannabis (SQDC). Each pack contains two bites, formulated with 5 mg of THC, 10 mg of CBD, and includes healthy ingredients like hemp hearts and sunflower seeds. This move expands Solei's product line, aiming to cater to the growing demand in Quebec's legal cannabis market. President Blair MacNeil emphasized the collaboration with SQDC to innovate responsibly in the cannabis sector, enhancing consumer choice.
Tilray Brands, a leading cannabis-lifestyle company, will release its third-quarter fiscal 2022 financial results on April 6, 2022, before market open. The conference call is set for 8:30 AM ET on the same day. Shareholders can submit questions via the Say Technologies platform up until 24 hours before the call. Tilray operates globally with over 20 brands across various markets, aiming to enhance well-being through high-quality products. This information comes as part of their ongoing commitment to transparency and shareholder engagement.
Tilray Brands, Inc. has launched its new Renew Moonlight CBN vape pen across Canada, expanding its wellness brand, Solei. This product is designed for nighttime use, featuring a 4:1 THC to CBN ratio, enhanced with citrus and herbal aromas. Brand Manager Danielle Minard emphasizes the product's role in promoting a smoother evening routine. The launch aims to augment Solei's award-winning portfolio of wellness offerings, which already includes popular CBD oils and THC vapes.
Tilray Brands has expanded its medical cannabis offerings by launching the first EU GMP medical cannabis oil products in Malta. This move allows patients across Malta to access high-quality cannabis through pharmacies. Denise Faltischek, Chief Strategy Officer, highlighted the growing demand for medical cannabis in the region. With a strong track record in the EU market, Tilray continues to be a significant supplier of medical cannabis products, serving patients in over 20 countries worldwide.
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