TILRAY BRANDS INC Stock Price, News & Analysis

Tilray Brands reported net revenue of $153.2 million for the first fiscal quarter ended August 31, 2022. Adjusted EBITDA reached $13.5 million, marking the 14th consecutive quarter of positive results. The cannabis gross margin improved to 51%, up from 43% year-over-year. The company confirmed guidance for adjusted EBITDA between $70-$80 million and aims to achieve $130 million in cost savings. Tilray maintains the #1 cannabis market share in Canada and Germany, demonstrating strong performance amid macroeconomic challenges.

Tilray Brands has successfully relaunched its EU GMP-produced medical cannabis oral solution in Ireland under the Medical Cannabis Access Program (MCAP). The product now has reimbursement approval, enhancing accessibility for patients. This strategic move allows patients in Ireland to access Tilray’s full-spectrum medical cannabis oil solution. Tilray Medical, which operates in 22 countries, aims to expand its product offerings in accordance with local regulations. The company is committed to providing high-quality medical cannabis products, supporting patient health and well-being.

SweetWater Brewing Company, a subsidiary of Tilray Brands (NASDAQ: TLRY), announced the launch of its fall craft beer lineup, featuring the new H.A.Z.Y. Double IPA and the return of the Mosaic Single Hop Hazy IPA. The H.A.Z.Y. Double IPA (8.5% ABV) is characterized by tropical flavors and a smooth body, while the Mosaic IPA (6.2% ABV) offers complex citrus notes. Both beers will be available starting October 3 across select U.S. markets. This release coincides with SweetWater's 25th anniversary and includes a commitment to conservation initiatives, promoting clean water as part of its mission.

Tilray Brands, Inc. (Nasdaq: TLRY) announced it will release its financial results for Q1 fiscal 2023, ending August 31, 2022, on October 7, 2022, at 8:30 AM Eastern Time. A live audio webcast will discuss these results, accessible via the company's website. Investors can submit questions for the executive team until October 6, 2022, through the shareholder Q&A platform, Say Technologies. Tilray operates globally in the cannabis and consumer packaged goods sectors, committed to enhancing consumer well-being through its diverse product portfolio.

Tilray Brands has received approval from the Italian Ministry of Health to import and distribute its medical cannabis oral solution THC25 through its division, FL Group. This approval signifies a critical expansion into the Italian market, where it's expected to enhance patient access to medical cannabis. Tilray Medical operates in 22 countries and is known for its EU-GMP certified products. The company emphasizes its commitment to quality and responsible cannabis regulations, aiming to meet patient needs effectively.

Tilray Brands announces the launch of RIFF Drumsticks, a new range of premium infused pre-rolls, available across Ontario. Released on September 15, 2022, these limited-edition products are made with Granddaddy Purp whole flower, offering enhanced THC potency and fruity aromas. The unique pre-rolls are rolled in unbleached paper, dipped in distillate, and coated in kief for an elevated experience. The RIFF brand aims to connect with cannabis consumers seeking flavorful and potent products.

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.