TILRAY BRANDS INC Stock Price, News & Analysis

Montauk Brewing Company expands its presence at Citi Field, home of the New York Mets, by opening two new branded bars at the K Korner and Field Level. This expansion, featuring signature craft beers like Wave Chaser IPA and Montauk Summer Ale, aims to enhance the game day experience for fans. President of U.S. Beer at Tilray Brands, Ty Gilmore, expressed enthusiasm about this collaboration with the iconic venue. Montauk Brewing's products are already popular among Mets fans and are now available at 3,500 retail locations and major venues like Madison Square Garden. This move supports Montauk Brewing's reputation as the fastest-selling craft brewer in Metro New York, according to Nielsen data.

Montauk Brewing Company has announced its new limited release craft brew, PROJECT 4:20, aimed at celebrating Earth Month and supporting local green charities. Set to launch on April 20, 2023, this juicy IPA will be available in 6-packs at retailers in metro New York, Long Island, and northern New Jersey.

A portion of the sales proceeds will benefit Grow NYC and Concerned Citizens of Montauk, organizations focused on food access and environmental sustainability. Montauk Brewing’s founder, Vaughan Cutillo, expressed pride in this initiative, emphasizing the company’s commitment to the ocean and local communities. The craft beer brand is recognized as the #1 craft brewer in Metro New York, a subsidiary of Tilray Brands (Nasdaq: TLRY). For more details, visit MontaukBrewingCo.com.

The global cannabis pharmaceuticals market is projected to reach USD 127.1 billion by 2028, expanding at a CAGR of 104.2% from 2022. The COVID-19 pandemic has increased cannabis product consumption, notably in treating chronic illnesses like cancer and Parkinson's disease. Legalization in various countries bolsters market growth, with many regions recognizing medical cannabis as essential. Major players include Tilray (NASDAQ: TLRY) and Jazz Pharmaceuticals (NASDAQ: JAZZ), with significant partnerships, such as Brains Bioceutical's agreement with Prati-Donaduzzi for CBD supply in Brazil. Trulieve and Curaleaf are also expanding their market presence. Despite challenges, the cannabis pharmaceuticals sector is set for considerable expansion, driven by increasing demand and supportive legislation.

Tilray Brands reported net revenue of $145.6 million for Q3 2023, marking a slight increase from $144.1 million in the previous quarter. The company achieved its 16th consecutive quarter of positive adjusted EBITDA at $14.0 million. A significant acquisition of HEXO Corp. for $56 million is set to enhance Tilray's market position in Canada, which is the largest federally legal cannabis market globally. Tilray maintains a 12.9% pro-forma market share and aims to bolster its high-growth potential in the U.S. consumer packaged goods and craft-beverage sector. The company emphasizes its commitment to operational efficiency and cash flow positivity. Despite a $1.1 billion non-cash asset reduction due to market conditions, it reassures investors of its strong cash position of $408.3 million.

Tilray Brands (Nasdaq: TLRY) has expanded its presence in Europe through a new partnership with Cansativa Group, enhancing the distribution of EU-GMP certified medical cannabis in the Czech Republic. This strategic alliance aims to improve the access of medicinal cannabis products for patients in pharmacies and hospitals. Denise Faltischek, Chief Strategy Officer, expressed pride in this initiative, highlighting their commitment to patient advocacy and quality products. Tilray Medical, a leading global provider of medical cannabis, operates in over 20 countries, ensuring safe access to a diverse portfolio of cannabis brands. This development marks a significant step in advancing Tilray’s mission to support medical cannabis patients worldwide.

SweetWater Brewing Company, the 10th largest craft brewer in the U.S., announces that its family of brands, which includes Green Flash and Alpine Beer, is now available in Nevada. This expansion increases distribution to over 50,000 points across 44 states. Key retailers now offering the beers include Costco, Walmart, and Whole Foods Market. Ty Gilmore, President, U.S. Beer at Tilray Brands, emphasizes the potential of the Nevada market in their strategic expansion. SweetWater’s portfolio includes popular offerings like 420 Extra Pale Ale and West Coast IPA. SweetWater, founded 26 years ago, is committed to conservation efforts through its Save Our Water campaign, supporting organizations focused on clean water initiatives.

Manitoba Harvest, a subsidiary of Tilray Brands (TLRY), has unveiled its first Regenerative Organic Certified™ Hemp Hearts at select Whole Foods Market locations starting April 2023. This product launch comes as consumer interest in hemp-based foods surges, with hemp ingredient products growing 1.5 times faster than chia and flax alternatives. Each serving of Hemp Hearts offers 10g of protein and 12g of omega fatty acids. Committed to sustainability, Manitoba Harvest collaborates with farmers to support soil health and biodiversity. The company holds both Certified B Corporation and Carbonzero Certification, underlining its dedication to environmental stewardship.