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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 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.
Tilray Brands, Inc. (TLRY) announced its ‘Wild West’ lineup from the CANACA brand at the Calgary Stampede. The activation features a western lounge at Wildhorse Saloon, offering limited-edition merchandise and showcasing popular products such as CANACA Indica 30 Infused Pre-Rolls, THC Distillate Vape Pen, Sour Diesel Flower, and various pre-roll blends. CANACA emphasizes locally sourced cannabis, aiming to provide high-quality experiences. The event allows consumers to engage with the brand while enjoying the festivities of the Calgary Stampede.
Tilray Brands, Inc. (TLRY) will announce its financial results for the fourth quarter and fiscal year ending May 31, 2022, before the market opens on July 28, 2022. A live audio webcast will take place at 8:30 am ET, providing insights into the company's performance. Shareholders can submit questions to the executive team via the Say Technologies platform until July 27, 2022. Tilray is a prominent cannabis and consumer packaged goods company operating globally, offering innovative products and brands that cater to health and wellbeing needs.
Tilray Brands announced the closure of its acquisition of a secured convertible note from HEXO Corp, valued at $155 million, representing a 10.8% discount on its $173.7 million balance. This strategic alliance aims to enhance operational efficiencies and drive product innovation, potentially yielding up to $80 million in cost savings over two years. The acquisition is expected to be immediately accretive to EPS and boost Tilray's market position, especially in anticipation of U.S. federal legalization opportunities.
Tilray Brands announced the launch of Hash-Infused Pre-Rolls under its Good Supply brand, available across Québec at the Société Québécoise du cannabis (SQDC). The new product combines strains Jean Guy and Starwalker Kush with a premium hash blend, offering an average THC level of around 26%. Good Supply has established itself as a top-selling cannabis brand in Canada, known for its innovative product range. This launch aims to meet growing consumer demand for higher potency pre-rolls.
Tilray Brands (Nasdaq: TLRY) announced the expansion of its medical cannabis offerings in the UK through its division, Tilray Medical. This marks the broadest portfolio of cannabis flower available in the UK, featuring high THC products cultivated in its EU-GMP-certified facility in Portugal. The range includes THC potencies from 10% to 25%, ensuring consistent and high-quality medical cannabis for patients. The company aims to meet the increasing demand for medical cannabis in the UK, providing safe access to a variety of treatment options.
Tilray Brands, Inc. (Nasdaq: TLRY) recently hosted a delegation from the Luxembourg Ministry of Health at its EU-GMP-certified facility in Cantanhede, Portugal. This visit aimed to showcase Tilray's high-quality medical cannabis operations, which serve patients in Luxembourg and Europe. Managing Director Sascha Mielcarek emphasized the company's commitment to meeting the growing demand for cannabis legalization in Europe. Tilray has established itself as a leader in cannabis production and export, with a strong presence in 20 countries, providing a range of medical cannabis brands.
Tilray Brands announced the launch of a new summer lineup of premium craft-cannabis products under its Broken Coast brand, available across Canada. The lineup includes Butane Hash Oil (BHO) vapes and premium small-batch cannabis flower. Highlights include Amnesia Haze Live Resin 510 Vapes with 75% THC, Up In The Sky Liquid Wax Vapes with 73%-80% THC, and a variety of small-batch flowers, such as Sour OG and Sunset Sherbet. These products aim to enhance the consumer experience with full-spectrum extracts and unique terpene profiles.
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