TILRAY BRANDS INC Stock Price, News & Analysis

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.

Tilray Brands, Inc. (Nasdaq: TLRY) has launched Good Supply Hash Bats™, a new line of hash-infused pre-rolls, which debuted in Ontario in February 2022. The product combines popular strains Jean Guy and Starwalker Kush with hash, offering a higher potency option at 26% THC, exceeding the typical pre-roll THC levels by 5%. The Good Supply brand is well-regarded in Canada and aims to deliver a superior smoking experience. Hash Bats are set for a broader national rollout in April and May 2022.

Tilray Brands has announced its intention to acquire HEXO Corp.’s senior secured convertible notes valued at up to US$211 million. This strategic alliance aims to enhance operational efficiencies and product innovation, benefiting both companies. The acquisition is projected to yield approximately C$20 million in interest payments during the first year, adding 4 cents to future earnings per share. Furthermore, both companies expect to realize up to C$50 million in shared cost synergies over the next two years, with Tilray nominating a member to HEXO’s Board upon closure.

Manitoba Harvest is set to showcase its innovative Hemp food products at Natural Products Expo West from March 10-12, 2022, in Anaheim, CA. The brand will unveil a new lineup that includes Hemp Protein powders blended with Matcha and Kale, as well as convenient formats like Ground Hemp Seeds. These products aim to enhance consumer wellness by leveraging hemp's rich protein and omega content. With a history since 1998, Manitoba Harvest, a subsidiary of Tilray Brands (NASDAQ: TLRY), emphasizes quality and sustainability in their hemp-based offerings.