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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.
SweetWater Brewing Company, a subsidiary of Tilray Brands (NASDAQ: TLRY), has announced a significant expansion into California in partnership with Reyes Beer Division, the largest beer distributor in the U.S. This move ties into SweetWater's 25th anniversary and marks California as the largest state in their portfolio. The brewery plans to leverage its West Coast roots while offering a diverse lineup of craft beers. The expansion highlights SweetWater's growth trajectory, following the recent acquisition of Alpine Beer Company and Green Flash Brewing Company.
Tilray Brands has launched Tilray Medical, a comprehensive global medical cannabis platform unifying its brands, including Aphria. This initiative aims to enhance access to high-quality medical products globally, especially in Canada. The new division will provide a range of cannabis products such as flower, oils, vapes, edibles, and topicals after securing local regulatory approvals. Tilray Medical positions itself as a leader in cannabinoid-based medicine, emphasizing research-backed solutions for patients worldwide.
Tilray has launched a new line of GMP-certified 15g medical cannabis whole flower products in Australia, approved under the TGA’s Special Access Scheme. This includes varieties with THC levels up to 25%. Additionally, Tilray introduces an online medical cannabis education platform for healthcare professionals in Australia and New Zealand. The company aims to enhance patient access to pharmaceutical-grade cannabis and foster healthcare education. Partners include research institutions for ongoing clinical trials, focusing on cannabis treatment effectiveness.
Manitoba Harvest, a subsidiary of Tilray Brands, emphasizes the health benefits of its Hemp Hearts in a recent announcement aimed at enhancing wellness for 2022. These seeds provide 10g of plant protein, 12g of Omega 3 & 6, and all nine essential amino acids, making them versatile for various diets including vegan, keto, and gluten-free. The company promotes creative culinary uses while highlighting their commitment to sustainability and quality, supported by their extensive product range sold in 17,000 retail stores across the U.S. and Canada.
Tilray Brands reported a solid 20% revenue increase to $155 million for Q2 fiscal 2022, driven by growth in cannabis and beverage alcohol segments. The company achieved a net income of $6 million, significantly improving from a loss of $89 million the previous year. Positive Adjusted EBITDA of $13.8 million marks the 11th consecutive quarter of profitability. Tilray maintains its leadership in Canada’s cannabis market, with ~20% share in Germany. The firm is on track to exceed synergy targets, expecting to achieve $80 million ahead of schedule.
Tilray (NASDAQ: TLRY) will report its second-quarter fiscal 2022 financial results on January 10, 2022, before market open. A conference call is scheduled for the same day at 8:30 am ET to discuss the results. Shareholders can submit questions via the Say Technologies platform prior to the call. Additionally, CEO Irwin D. Simon and CFO Carl Merton will participate in a fireside chat at the 24th Annual ICR Conference at 1:30 pm ET on the same day. The live audio webcast can be accessed on Tilray’s Investor Relations website.
Tilray announced the acquisition of Breckenridge Distillery, a leading producer of distilled spirits known for its award-winning bourbon. This strategic move aims to expand Tilray's U.S. market offerings in the spirits category and leverage Breckenridge's strong brand and distribution network. The acquisition is expected to be immediately accretive to EBITDA, contributing adjusted EBITDA margins of about 25%. This aligns with Tilray’s goal to achieve $4 billion in revenue by 2024 through diversified consumer packaged goods (CPG) brands.
78% of People Surveyed Want More Holistic Health Support This Season
Manitoba Harvest, a leading hemp food manufacturer and subsidiary of Tilray, released a health hack for the holidays, promoting Organic Hemp Hearts. In a recent survey, 78% of respondents indicated they want to make holiday baked goods healthier. Each serving of Hemp Hearts provides 10g of protein, 12g of Omegas 3 & 6, and all 9 essential amino acids. Manitoba Harvest emphasizes the nutritional value of these hemp seeds in various diets and their commitment to quality, being a Certified B Corporation since 2014.
Tilray has announced the launch of Aphria-branded medical cannabis oral strips in Canada, featuring THC and CBD-rich options. Utilizing QuickStrip™ technology, these strips deliver micronized cannabinoids that dissolve quickly, offering a fast-acting and precise dosing method. Available in different ratios, each pack contains 30 individually wrapped strips. The company emphasizes its commitment to patient wellness and innovation in medical cannabis products as it positions itself in a growing market.
High Tide has completed its acquisition of an 80% interest in NuLeaf Naturals for
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