Core Insights - JetBlue has partnered with Montauk Brewing Company to serve its Surf Beer Golden Ale on all domestic and international flights, marking the first airline to offer this craft beer [1][2][3] - The Surf Beer is described as a light and refreshing brew, embodying Montauk's coastal lifestyle and ethos of pursuing one's passions [2][3] - Montauk Brewing, founded in 2012, emphasizes community and adventure, inviting customers to experience their craft beers at their Brew Barn located in downtown Montauk [4] Company Overview - Montauk Brewing Company is known for its exceptional craft beers and has a loyal following among beer lovers and beachgoers [3][4] - The company promotes a motto of "Come as You Are," focusing on the simple pleasures in life and the spirit of adventure [4] - Tilray Brands, Inc., the parent company of Montauk Brewing, operates globally in the lifestyle and consumer packaged goods sector, with a mission to inspire joy through its diverse range of brands and products [6]

ATLANTA, Feb. 04, 2025 (GLOBE NEWSWIRE) -- SweetWater Brewing Company ("SweetWater Brewing" or "SweetWater"), the largest craft brewer in the Southeast and a Tilray Brands, Inc. company (NASDAQ:TLRY, TSX:TLRY) proudly introduces Dive Beer—a crisp, no-frills lager that channels the laid-back spirit of dive bars everywhere. Dive Beer offers a fresh take on what it means to enjoy a simple, satisfying brew. Crafted for beer enthusiasts who value simplicity and affordability, Dive Beer sets a new standard for th ...

Company Activities - Tilray Brands announces nationwide game day events at its craft breweries, featuring premium craft brews and curated wing offerings for fans on February 9th, 2025 [1] - Participating breweries include SweetWater Brewing Co, Montauk Brewing Co, Breckenridge Brewery, Blue Point Brewing Co, 10 Barrel Brewing Co, Hop Valley Brewing Co, Redhook Brewing Co, Terrapin Beer Co, and Atwater Brewery [1] - SweetWater Brewing Co hosts watch parties at its Atlanta Taproom with exclusive food and beverage deals, quarterly giveaways, and half-time raffles [2] - Montauk Brewing Co partners with Fierro's Pizza in Montauk, NY, offering a combination of Montauk's brews and Fierro's specialty pizzas [3] - Breckenridge Brewery organizes game day events at three locations in Colorado, featuring Happy Hour specials, game day slushies, and giveaways [4][5] - Blue Point Brewing Co hosts a BIG GAME House Party raffle with extended hours, drink and food specials, and a football toss competition [6] - 10 Barrel Brewing Co offers happy hour specials, engaging competitions, and limited-edition merchandise at its brewpubs in West Bend, East Bend, Portland, and Boise [7] - Hop Valley Brewing Co provides a 6-pint Beer Tower, Pretzel and Pint Duo Deal, and Game Day Quarterly Drawing at its Eugene and Springfield locations [8] - Redhook Brewing Co offers exclusive Brewlab food offerings, craft pizzas, and burgers at its Ballard brewpub, along with Ultimate Group To-Go Game Day Packs [9] - Terrapin Beer Co promotes its Terrapin-to-go lineup, including High & Hazy IPA, IPA Survival Kit, and Hopsecutioner IPA for game day celebrations [10] - Atwater Brewery offers Atwater BIG GAME Survival Kit with wing and sandwich packs for home celebrations [11] Company Overview - Tilray Brands is a global lifestyle and consumer packaged goods company operating in Canada, the US, Europe, Australia, and Latin America [13] - The company focuses on cannabis, beverage, wellness, and entertainment sectors, aiming to create memorable experiences through its house of brands [13] - Tilray supports over 40 brands in more than 20 countries, including cannabis offerings, hemp-based foods, and craft beverages [13] Additional Information - For more details on game day activities and product availability, visit the brand websites [12] - Tilray's mission is to be a leading premium lifestyle company with innovative products that inspire joy and connection [13]

During the past five years, the reality of the cannabis industry has not lived up to the hype that accompanied Canada's historic legalization of pot for recreational use in 2018. Cannabis stocks have largely generated abysmal returns during much of that time. Tilray Brands (TLRY 1.79%), a leader in the sector, is no exception. However, the company has made significant changes to its business recently and continues to plan for the future in case cannabis legalization progresses. With that in mind, could Tilr ...

Core Insights - Terrapin Beer Co. is celebrating the 20th anniversary of its Wake-n-Bake Coffee Oatmeal Imperial Stout and hosting the annual Wake-n-Bake Off event on January 26, 2025 [1][2] Company Overview - Terrapin Beer Co. was founded in April 2002, launching its first brew, Rye Pale Ale, in Athens, GA, and quickly gained recognition by winning a Gold Medal at the Great American Beer Festival within six months [7][8] - The company has evolved from a 25-barrel brewhouse to a well-loved brand with a dedicated community of employees, distributors, retailers, and customers [8] Product Details - Wake-n-Bake Imperial Stout is characterized by a blend of Nugget hops and various malts, including 2-Row, Crystal 85, Flaked Barley, Flaked Oats, Chocolate, Black, and Roasted Barley, along with Jittery Joe's Coffee for a rich coffee flavor [3] - The stout is available in 6-packs of 12oz cans and on draft, appealing to those who enjoy a hearty stout with a smooth coffee finish [3] Event Highlights - The Wake-n-Bake Off event will feature local restaurants competing to create the best dish using Terrapin's Wake-n-Bake Beer, promoting culinary innovation and community engagement [2] - The event will take place at the Terrapin taproom in Athens, GA, starting at 4 PM EST, and will include live music, food offerings from local favorites, and exclusive merchandise [5][6] Sustainability Initiatives - Terrapin Beer Co. has implemented a sustainability initiative called Terraprint, focusing on reducing environmental impact through waste minimization, water conservation, and recycling [9]

Company Performance - Tilray Brands' valuation has plummeted by 94% over the past five years, making it one of the worst-performing cannabis stocks [1] - The company reported an operating loss of $42.2 million for the fiscal period ended Nov. 30, worse than the $41.8 million loss a year ago, despite a 9% increase in revenue [4] - Operating cash flow for the past six months was a negative $76 million, accelerating from the $46.3 million cash burn during the same period a year earlier [4] Diversification Strategy - Tilray has been diversifying by acquiring alcohol brands to expand its presence in the U.S. market, as national marijuana legalization remains uncertain [2] - The company has acquired over 20 alcohol brands, but this has led to a bloated portfolio, with some slow-growing SKUs being removed [5] - The focus on growth through acquisitions may not be leading to a stronger bottom line, as the company appears to prioritize growth over profitability [5] Market and Regulatory Environment - Optimism around marijuana legalization has waned, particularly with the new Republican government, which typically takes a harder stance on drugs [6][7] - The AdvisorShares Pure US Cannabis ETF has declined by 50% in the past three months, reflecting poor investor sentiment [7] - Without significant progress in U.S. marijuana legalization, Tilray's future prospects remain uncertain [8] Investment Outlook - Tilray remains a highly risky stock, with no guarantee of survival over the next five years if it continues to burn cash and incur heavy losses [9][10] - The stock is likely to appeal only to speculative investors with a high risk tolerance, as there are better growth stock options available for most investors [10]

Industry Overview - The marijuana industry is currently facing significant challenges, including heavy competition, high taxation, and inconsistent legalization in the U.S. [1] - Marijuana companies are among the worst performers on the stock exchange, indicating a tough market environment [1] Company Performance: Tilray Brands - Tilray Brands (TLRY) has struggled in 2024, reflecting the broader issues within the cannabis sector [2] - The company has focused on diversifying away from marijuana, particularly by expanding its beverage holdings, which now include a prominent craft beer portfolio in the U.S. [3] - Despite the diversification efforts, the craft beer market is not experiencing significant growth, raising questions about the long-term viability of this strategy [4] Financial Results - In the first quarter of 2025, Tilray reported a 13% year-over-year increase in net revenue, reaching $200 million, largely driven by a 132% increase in beverage sales, which contributed nearly $56 million [5] - However, the core cannabis business saw a decline of 13%, with revenues falling to approximately $61 million [5] - Tilray continues to face profitability challenges, reporting a GAAP net loss of nearly $35 million, although this was an improvement from a loss of slightly under $56 million in the same quarter the previous year [6] Future Prospects - The company is exploring growth opportunities, including efforts to enter the German market, but recent legalization measures in Germany have been lackluster [7] - Many publicly traded marijuana companies, including Tilray, are now viewed as penny stocks, which may deter potential investors [8]

Group 1 - The author has been active in the markets for several years, focusing primarily on long/short equities [1] - The author holds a Bachelor of Science Degree in Finance and Accounting, with a minor in History, and has experience managing investment portfolios [1] - The author has completed internships at a large bank and in managing a university endowment [1] Group 2 - The article emphasizes the importance of conducting due diligence before making any investment decisions [3][4] - It is noted that past performance does not guarantee future results, and no specific investment recommendations are provided [4] - The article clarifies that the author has no current stock or derivative positions in the companies mentioned [2]

Core Insights - Breckenridge Brewery, a subsidiary of Tilray Brands, Inc., has launched a new seasonal beer, Spring Forward Grapefruit IPA, which features a balance of grapefruit and citrus flavors with hop-driven bitterness [1][2][3] - The beer is designed to be enjoyed from January through April 2025, with a packaging that reflects the vibrant energy of spring [3] Company Overview - Breckenridge Brewery has been a pioneer in Colorado's craft beer scene since 1990, focusing on creating balanced and interesting hand-crafted beers [4] - The brewery's portfolio includes unique seasonal beers, barrel-aged specialties, and classic options, emphasizing community connection and beer appreciation [4] Parent Company Overview - Tilray Brands, Inc. is a leading global lifestyle and consumer packaged goods company with operations across multiple regions, including North America and Europe [5] - The company aims to be a premium lifestyle brand with a diverse portfolio of over 40 brands in more than 20 countries, covering cannabis, hemp-based foods, and craft beverages [5]

Market Share and Revenue Growth - Tilray's market share in Canada decreased marginally from 9.8% to 9.4% in the quarter, reflecting efforts to preserve margins amid price compression[129] - Tilray acquired four craft brands and breweries on September 1, 2024, expected to enhance beverage segment revenues and market penetration[144] - Manitoba Harvest's US branded business grew 6.2% in multi-outlet consumption for the six months ended November 30, 2024, driven by value-added innovation[142] - Tilray's international cannabis business benefits from EU-GMP cultivation facilities in Portugal and Germany, along with a fully owned route-to-market infrastructure in key regions[131] Operational Efficiency and Product Innovation - Wellness gross margin increased to 31% for both the three and six months ended November 30, 2024, driven by operational efficiencies and higher-margin product sales[177] - Tilray's Breckenridge Distillery received Double Gold awards, including the World's best finished Bourbon at the 2024 World Whiskies Awards[126] - Tilray launched a lineup of Hemp Derived Delta-9 (HD-D9) products, Non-Alcoholic beverages, and Energy drinks as part of its innovation strategy[128] - In Germany, Tilray received the first license for domestic medical cannabis cultivation under the new MedCanG regulations, leading to increased prescription numbers and business growth[133] Financial Performance and Expenses - Operating expenses increased by $14.2 million (16%) to $103.4 million for the three months and by $32.0 million (19%) to $199.7 million for the six months ended November 30, 2024, primarily due to the inclusion of expenses from the Craft Acquisition II[179] - Selling costs increased by 113% to $16.2 million for the three months and by 93% to $27.9 million for the six months ended November 30, 2024, driven by higher freight costs and increased sales from the Craft Acquisition II[179][187] - Research and development costs increased by 7% to $60,000 for the three months and by 22% to $165,000 for the six months ended November 30, 2024, related to external costs for new product development[179][190] - Salaries and wages increased by 19% to $22.7 million for the three months and by 23% to $44.3 million for the six months ended November 30, 2024, due to the inclusion of employees from the Craft Acquisition II[181] - Office and general expenses increased by 17% to $9.5 million for the three months and by 15% to $18.7 million for the six months ended November 30, 2024, primarily due to the Craft Acquisition II[182] - Stock-based compensation decreased by 12% to $7.2 million for the three months and by 14% to $14.2 million for the six months ended November 30, 2024, due to fully vested stock options and RSUs[184] - Insurance expense increased by 26% to $3.2 million for the three months but decreased by 12% to $5.6 million for the six months ended November 30, 2024, driven by lower premiums and additional policies for the beverage business[185] - Rent expense decreased by 34% to $1.0 million for the three months and by 5% to $2.3 million for the six months ended November 30, 2024, due to the exit from the Truss Lease and reduced lease payments[186] - Marketing and promotion costs increased by 6% to $9.7 million for the three months and by 20% to $21.3 million for the six months ended November 30, 2024, due to the Craft Acquisition II and quarterly variability in discretionary expenses[189] - Change in fair value of contingent consideration was $nil for both the three and six months ended November 30, 2024, compared to a loss of $0.3 million and a gain of $10.8 million in the prior year period[191] - Net loss for the three months ended November 30, 2024, increased by 85% to $(85.275) million compared to $(46.183) million in the same period last year[206] - Adjusted EBITDA for the three months ended November 30, 2024, decreased by 11% to $9.017 million compared to $10.086 million in the same period last year[206] Cash Flow and Debt Management - Long-term investments decreased to $7.416 million as of November 30, 2024, from $7.859 million as of May 31, 2024[56] - The company has drawn down $10,000 from a $30,000 revolving credit facility as of November 30, 2024[59] - Net carrying amount of long-term debt decreased to $164.709 million as of November 30, 2024, from $173.858 million as of May 31, 2024[62] - The company issued 67,210,864 shares under the ATM program, generating gross proceeds of $114.3 million during the six months ended November 30, 2024[213] - Net cash used in operating activities increased to $(76.031) million for the six months ended November 30, 2024, compared to $(46.251) million in the same period last year[215] - Net cash used in investing activities increased to $(60.120) million for the six months ended November 30, 2024, compared to $55.207 million in the same period last year[215] - Cash and marketable securities totaled $252.249 million as of November 30, 2024, compared to $259.791 million as of November 30, 2023[215] - The company repaid the remaining principal of the APHA 24 Notes in cash upon maturity on June 1, 2024[68] - Cash flows from financing activities increased to $38.2 million for the three months ended November 30, 2024, compared to ($85.4) million in the prior year period[219] - Cash flows from financing activities increased to $98.8 million for the six months ended November 30, 2024, compared to ($71.3) million in the prior year period[219] - The company received $21.6 million from the overallotment issuance of TLRY 27 Notes in the prior period ended November 30, 2023[219] - The company repaid $107.3 million for the TLRY 23 and APHA 24 Notes in the prior period ended November 30, 2023[219] Legal and Accounting Matters - The company believes that the reasonably possible losses from litigation are not material and will not have a material adverse effect on its financial position[221] - Critical accounting estimates include revenue recognition, valuation of inventory, long-lived assets, goodwill, intangible assets, stock-based compensation, and deferred tax assets[222] - The company's financial statements are prepared in accordance with U.S. GAAP, requiring significant estimates and assumptions[222] - Recently issued accounting pronouncements may impact the company's financial position and results of operations[223] - There have been no material changes in market risk during the six months ended November 30, 2024[224] Business Expansion and Brand Promotion - The company operates 20 brew pubs across the U.S., including the Breckenridge Distillery restaurant, to promote craft beer brands and drive revenue growth[128] - The company incurred $2.0 million in transaction expenses for the six months ended November 30, 2024, related to acquisitions and strategic transactions[143]