BRECKENRIDGE, Colo., June 06, 2024 (GLOBE NEWSWIRE) -- Breckenridge Distillery, one of the mostawarded craft distilleries in the U.S., a subsidiary of Tilray Brands, Inc. (NASDAQ:TLRY, TSX:TLRY), celebrated two major wins at the 15th annual New York International Spirits Competition, including Colorado American Blended Whiskey Distillery of the Year and Double Gold for Breckenridge Port Cask Finish. The New York International Spirits Competition had more than 1,400 submissions from 39 countries and 38 state ...

TORONTO, June 06, 2024 (GLOBE NEWSWIRE) -- Tilray Brands, Inc. ("Tilray") (NASDAQ:TLRY, TSX:TLRY), a leading global lifestyle and consumer packaged goods company, today announced the launch of 'Purple Churro,' by Redecan cannabis – a sensational new sativa making its debut just in time for sunnier days and longer nights to pair perfectly with this summer season's upcoming festivities. This unique strain offers a sweet, indulgent experience with a potent twist and boasting THC levels, marking yet another com ...

Event Announcement - Breckenridge Brewery, a subsidiary of Tilray Brands, Inc., is hosting a charity concert series "On Tap with KBCO" featuring live music on August 10, 2024, with artists Gary Clark Jr., John Vincent III, and Eddie 9V [1][3][4] - Ticket proceeds will benefit Project C.U.R.E., a non-profit organization that provides medical supplies and equipment globally, with a low overhead of only 3% [2] Ticketing Information - Tickets will be available through a lottery system to prevent scalping and ticket bots, with entries accepted from June 3 at 7:15 am to June 10 at 9:59 am MST [3][4] - Lottery results will be announced via email starting June 10 at 12:00 pm MST for those selected [3][4] Venue and Artist Details - The concert will take place at Breckenridge Brewery in Littleton, Colorado, with gates opening at 12:30 pm and the show starting at 1:30 pm [4] - Breckenridge Brewery, established in 1990, has grown to be one of the largest breweries in the U.S., distributing beer to 49 states and offering a variety of craft beers [4]

Acquisitions have played a big role in Tilray Brands' strategy, and the company is still not done wheeling and dealing. There is rising optimism that the U.S. government may soon enact marijuana reform, which could lead to eventual legalization down the road. If or when legalization will happen is still anyone's guess, but with the government looking to reschedule cannabis from a Schedule I substance down to a less serious Schedule III substance in the near future, investors and analysts alike are optimisti ...

This worse-than-expected news is not necessarily a sign to buy the dip. It usually isn't a good sign when businesses announce that their projection for their annual earnings needs to be adjusted downward, like Tilray Brands (TLRY 1.09%) did with its third-quarter earnings on April 9. Since then, however, there have been a couple of important developments that could cut some of the bitterness that shareholders may be experiencing. Despite the setback with its progress relative to management's past guidance, ...

Solei is a leading cannabis wellness and lifestyle brand with thoughtfully designed products for curating sensorial experiences based on what you need, when you need it, entirely on your terms. Beloved by consumers for its carefully formulated products and innovative formats, Solei products feature varied and rare cannabinoids that allow you to fine-tune your routines with ease. Explore a true sense of well-being with a wide range of formats including Solei's best-selling CBD oils, ready-to-go pre-roll mult ...

Canadian cannabis producer Tilray Brands (TLRY) is the Canadian market share leader and continues to add new products. With the U.S. getting closer to reclassifying cannabis as a less regulated drug, is TLRY stock a bargain buy now? X Tilray has been easing. The pullback follows a 2.4% jump on May 16, after President Joe Biden tweeted on X that his administration "took a major step to reclassify marijuana." On May 16, the U.S. Department of Justice submitted proposed for new regulations that reclassify cann ...

Despite a broad rally in cannabis, this top Canadian LP has failed to join the party. Last week marked a historic moment for the financial markets as the Dow Jones Industrial Average soared to unprecedented heights, and the S&P 500 continued its impressive bull run, now nearing two years. Amidst this financial fervor, a particular industry has been making waves, albeit more quietly -- cannabis stocks. In 2024, these stocks have not only kept pace but have outshone these benchmark indices in many instances. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 29, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38594 TILRAY BRANDS, INC. (Exact Name of Registrant as Specified in its Charter) (State or other jurisdiction of Delaware 82-4 ...

Financial Data and Key Metrics - Beverage alcohol gross profit increased to $18.9 million from $10 million, but gross margin decreased to 34% from 48% due to lower margins from craft brands [1] - Adjusted gross margin fell to 38% from 53%, primarily due to co-manufacturing agreements for brewing [1] - Net cannabis revenue increased by 14% organically, with contributions from HEXO and Truss acquisitions, offset by the elimination of $8.7 million in advisory services revenue [2] - Wellness gross profit rose to $4.1 million from $3.7 million, with gross margin holding steady at 30% [4] - Q3 total net revenue rose to $188.3 million, representing almost 30% growth year-over-year [130] - Adjusted EBITDA was $10.2 million, down from $13.3 million in the prior year quarter [137] Business Line Data and Key Metrics - Beverage alcohol revenue increased 165% to $54.7 million, driven by contributions from newly acquired craft brands [223] - Cannabis gross profit was $20.9 million, with a gross margin of 33%, compared to negative $32.8 million in the prior year quarter [140] - Wellness revenue grew 12% to $13.4 million, driven by targeted advertising campaigns and innovation efforts [141] - Distribution revenue decreased 13% to $56.8 million, impacted by infrastructure outages and weather [108] Market Data and Key Metrics - In Germany, Tilray holds the leading cannabis market share by revenue and is well-positioned to capture growth in the medical market [65] - The European medical cannabis market is projected to be a $45 billion opportunity in the long term [88] - Tilray is the fifth-largest craft brewer in the U.S., with a 4.5% market share, and aims to become a top 12 beverage company [114][123] - In Canada, Tilray maintains the number one market share in cannabis, with leading positions in key provinces and product categories [118] Company Strategy and Industry Competition - Tilray's strategy focuses on organic growth, strategic acquisitions, and cost management to drive profitability [83] - The company is leveraging its global expertise in cannabis to capitalize on regulatory changes, such as potential rescheduling in the U.S. [80] - Tilray is expanding its beverage portfolio beyond alcohol into categories like sparkling water and energy drinks [125] - The company is working to improve margins in its beverage business by moving away from co-manufacturing agreements and increasing production efficiency [96] Management Commentary on Operating Environment and Future Outlook - Management highlighted the impact of dry January on the beverage alcohol business and the challenges of integrating lower-margin craft brands [14] - The company is optimistic about the German market, where regulatory changes are expected to significantly expand the medical cannabis market [121] - Tilray is prepared to capitalize on potential U.S. regulatory changes, including rescheduling and federal legalization of medical cannabis [122] - Management expects strong growth in Q4, driven by seasonality and new product launches [5] Other Important Information - Tilray achieved $27.5 million in annualized cost savings from the HEXO integration, with $15.6 million realized in Q3 [105] - The company is working to reduce its debt, having decreased net debt to $175 million and reducing annual interest expense by $9.8 million [70] - Tilray is exploring opportunities to introduce hemp-based delta-9 beverages in the U.S. [82] Q&A Session Summary Question: Impact of excise tax changes in Canada - Management expects potential savings of $80 million annually if excise tax reforms are implemented, which would benefit Tilray and the broader industry [79][195] - The company believes that tax savings should be reinvested into the industry to drive growth and innovation [207] Question: Outlook for the German cannabis market - Tilray is well-positioned in Germany with a cultivation facility, distribution network, and strong market share [65][144] - The company expects significant growth in the German medical cannabis market due to regulatory changes [121] Question: Guidance and margin expectations - Management revised adjusted EBITDA guidance to $60-63 million, citing challenges in Q3 and expectations for a strong Q4 [170] - Margins are expected to improve in Q4 due to increased production and sales volume, particularly in the beverage alcohol business [193] Question: U.S. regulatory changes and opportunities - Tilray is prepared to enter the U.S. market if cannabis is rescheduled, leveraging its global expertise and distribution network [80][122] - The company sees significant opportunities in hemp-based delta-9 beverages and other THC-infused products [200]