TILRAY BRANDS INC Stock Price, News & Analysis

High Tide has finalized its acquisition of an 80% stake in Blessed CBD for £9,064,000, enhancing its global e-commerce footprint. This marks High Tide's fifth e-commerce acquisition in 2021, increasing its e-commerce revenue run-rate from approximately $10.6 million to nearly $60 million. Blessed CBD, a leading CBD brand in the U.K. with significant site traffic, reported £5.1 million in revenue and £2.8 million in EBITDA for the year ending August 2021. The deal also includes options for High Tide to acquire the remaining 20% of Blessed CBD in three years.

Tilray, Inc. reported net revenue growth of 43% to $168 million for the first fiscal quarter ending August 31, 2021, driven by higher cannabis, beverage alcohol, and wellness revenues. The company achieved its tenth consecutive quarter of positive adjusted EBITDA, totaling $12.7 million, a 58% increase year-over-year. Gross profit rose 46% to $51 million. Tilray aims for at least $80 million in cost-saving synergies from its Aphria merger. It maintains a leading market share in Canada and Germany, positioning itself for growth amid global cannabis legalization.

High Tide Inc. has announced a definitive agreement to acquire 80% of Enigmaa Ltd., operating as Blessed CBD, for £9.06 million. Blessed is a leading UK CBD brand, known for its direct-to-consumer model with £5.1 million in revenue and strong gross margins of 81%. This acquisition aims to enhance High Tide's UK e-commerce presence and capitalize on cross-selling opportunities. The deal is expected to close in October 2021, with an option for High Tide to acquire the remaining 20% in three years, positioning the company for further growth in the EU CBD market.

High Tide Inc. has opened two new retail cannabis stores in Windsor and Cornwall, Ontario, increasing its total to 101 locations in Canada and 30 in Ontario. September has seen the launch of eight new stores, underlining the company's growth despite pandemic-related challenges. The Windsor store is strategically located in a commercial district, while the Cornwall outlet sits in a prominent retail plaza. To celebrate its 100-store milestone, High Tide will support World Vision by sponsoring two additional children for each new store. The company aims to exceed 200 locations nationally by 2022.

Texas Original Compassionate Cultivation announced the appointment of Steven Yoo as Chief Financial Officer effective October 1, 2021. With over a decade of experience in the cannabis industry, including previous roles at Tilray and Subversive Capital, Yoo will lead TOCC’s financial operations. His expertise is expected to enhance financial planning and support the company’s expansion efforts, including a new cultivation facility in Bastrop, Texas, slated for completion in the first half of 2022.

High Tide Inc. has been recognized as one of Canada’s top growing companies for 2021 by the Globe and Mail, ranking 82nd out of 448 firms with a remarkable three-year revenue growth of 733%. This recognition highlights High Tide's operational success since its first cannabis retail store opened in October 2018, growing from 160 employees to nearly 100 stores and over 900 employees. The Company plans to enhance revenue through further retail and e-commerce expansion in Canada, the United States, and Europe.

Tilray announced it will release its financial results for the first quarter of fiscal 2022, which ended on August 31, 2021, on October 7, 2021, before market opening. A live conference call is scheduled for 8:30 am Eastern Time on the same day, where executives will discuss the outcomes. Shareholders can submit questions through Say Technologies until 24 hours prior to the call. The company is recognized as a leader in the cannabis industry, operating globally with a focus on providing quality products for health and wellbeing.

High Tide Inc. has revealed its new cannabis retail concept, Cannabis Chop Club, aimed at value-focused consumers. The stores will be smaller, averaging 1,000-1,200 square feet, and have lower build costs of $125,000 to $150,000. The Chop Club will offer exclusive deals for members and leverage High Tide’s existing loyalty programs. CEO Raj Grover highlights the potential to capture market share from the illicit cannabis market. The company, known for its retail cannabis and consumption accessories, operates 93 locations in Canada.

Tilray, Inc. announced that a majority of stockholders approved an increase in authorized shares of common stock. This decision supports the company’s goal to drive growth post-merger with Aphria, focusing on expanding its international medical business and increasing market share in Canada from 16% to 30% by 2024. Tilray aims to achieve $4 billion in revenue by then, leveraging its strong operational scale and geographic footprint. The company also plans to capitalize on opportunities in the $80 billion U.S. cannabis market following federal legalization.