Business Strategy & Career Pivots - Entrepreneurship is likened to a hamster wheel, with sporadic moments of clarity that sustain the effort [10] - Two-thirds of women in corporate America desire to leave and start their own businesses [8] - Risk should be assessed relative to the reward, and those without significant obligations should consider taking the leap into entrepreneurship [15] - When considering a career pivot, living for one's eulogy virtues should be prioritized [16] - Businesses should anticipate pivoting and focus on customer needs rather than being fixated on being right [17][18] - Working for someone in the desired industry is advisable before starting a business, to gain experience and learn the industry [44][54] Brand & Product Development - Apothecary aims to bridge eastern ancient medicine with western practices, connecting it to modern marketing, education, and science [7] - A rebrand in 2022 shifted Apothecary's product focus from powders to drops, resulting in a 90% sales flip within 12 months [18] - Consumer product goods businesses should prioritize owning their formulations and IP for potential acquisition [21][22] - Customer feedback, especially from ad comments, is crucial for understanding customer needs and focusing marketing efforts [50] Financial Management & Operations - Negotiating payment terms, aiming for a negative cash conversion cycle where customers fund growth, is crucial [34][35] - Taking the wrong investor money can alter the original purpose of starting a business, so values alignment is critical [37][42] - When raising equity, understanding the exit timeline is essential, while debt requires ensuring the ability to service the loan [38][39] - Securing pricing with suppliers for at least two years and negotiating cash flow terms are important strategies [32] Human Resources & Team Management - Hiring should be strategic, with different roles focused on short-term (0-3 months), mid-term (3-9 months), and long-term (9-18 months) business needs [25] - Firing decisions should be based on cultural fit, integrity issues, or misalignment with the company's mission and core values [26][27]

Core Points - Tilray Brands, Inc. has regained compliance with Nasdaq's minimum bid price requirement, maintaining a closing bid price of at least $1.00 for 10 consecutive trading days from August 13, 2025, to August 26, 2025 [1] - The company is committed to growth and innovation, positioning itself as a leader in the cannabis, beverage, and wellness industries, with a strong global platform [2] - Tilray operates as a transformative force in the lifestyle and consumer packaged goods sector, supporting over 40 brands in more than 20 countries [3]

Core Viewpoint - Tilray Brands, Inc. is seeking an extension to comply with Nasdaq's listing standards due to recent trading fluctuations and is considering a Reverse Stock Split to improve its capital structure [1][2]. Company Overview - Tilray is a global lifestyle consumer packaged goods company operating in the cannabis, beverage, and wellness sectors, with a mission to inspire joy and create memorable experiences through its diverse product offerings [3]. Recent Developments - The company's stock has appreciated recently, attributed to President Trump's review of cannabis rescheduling, reflecting increased investor confidence in Tilray's diversified platform and growth potential [2]. - Tilray is exploring multiple options to meet Nasdaq's requirements, indicating a strategic approach to enhance its market position and shareholder value [2]. Market Position - Tilray supports over 40 brands across more than 20 countries, emphasizing its role as a transformative force in the cannabis and consumer goods industries [3].

Industry Trend - The wellness and hotel industries are targeting the under-16 demographic as the next growth area [1] - New offerings for younger guests are expanding beyond traditional "Mommy and Me" services [1]

Financial Data and Key Metrics Changes - Tilray achieved record annual revenue of $821 million, a 4% increase year over year on a constant currency basis, and $834 million, a 6% increase year over year [7][34] - The company reported a gross profit of $241 million, an 8% increase year over year, and the highest gross margin at 29%, up from 28% in the prior year [8][40] - A net loss for fiscal year 2025 increased to $2.2 billion, or $2.46 per share, compared to a loss of approximately $220 million in the prior year [41][50] Business Line Data and Key Metrics Changes - International cannabis revenue reached $22.4 million in Q4, up 71% year over year, with a full year growth of approximately 20% [7][14] - The beverage segment reported net revenue of $65.6 million in Q4, a 19% year-over-year increase, although impacted by SKU rationalization initiatives [24][38] - Wellness revenue grew by 9% to over $60 million, driven by the expansion of the Manitoba Harvest brand and new product innovations [29][30] Market Data and Key Metrics Changes - In Canada, Tilray maintained a 9.3% market share in the adult recreational segment, with a total cannabis revenue of $186 million for the fiscal year [18][12] - The international cannabis business showed significant growth, particularly in Germany, where revenue grew by 134% year over year in Q4 [15][12] - The U.S. beverage division generated approximately $240 million in sales, with a focus on expanding market share in the non-alcoholic beverage sector [13][28] Company Strategy and Development Direction - The company is focused on solidifying its global leadership in cannabis and expanding its beverage and wellness business through innovation and strategic acquisitions [6][12] - Tilray aims to strengthen its balance sheet through strategic debt restructuring and has reduced its net debt to EBITDA ratio to 0.3 times from 1.7 last year [9][41] - The company is optimistic about future growth opportunities in international markets, particularly in Europe and emerging markets [17][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term strategy despite recent non-cash impairment charges, emphasizing the intrinsic value of tangible assets and brand equity [11][43] - The Canadian cannabis market is stabilizing, with expectations of regulatory reforms that could enhance market conditions [17][65] - Management anticipates continued growth in international cannabis markets, particularly in Germany, Poland, and the UK, with significant plans for expansion [70][72] Other Important Information - The company implemented strategic initiatives that impacted revenue by approximately $35 million due to decisions aimed at enhancing margins and profitability [7][35] - The beverage business faced challenges due to softer consumer demand and unexpected distribution headwinds, but corrective actions are being taken to improve performance [24][26] - Tilray's wellness segment is expected to expand further in fiscal year 2026, focusing on better-for-you functional foods and beverages [31][30] Q&A Session Summary Question: What is the current status of importing rights and delays? - Management indicated that legal issues in Portugal are being resolved, and they expect to start shipping products soon, with an estimated $8 million in sales impacted by trapped shipments [60][61] Question: Can you elaborate on the Canadian market's equilibrium and price pressures? - Management noted that the Canadian market is stabilizing with more retail stores opening, leading to increased consumer preference for legal cannabis over illicit products, and potential regulatory changes could further enhance market conditions [63][65] Question: How should growth in international markets be viewed for next year? - Management expressed optimism about international growth, particularly in Germany and other European markets, with significant plans for expansion and a focus on medical cannabis [70][72]

Core Insights - Tilray Brands, Inc. reported a fiscal year net revenue of $821 million, with a constant currency revenue of $834 million, impacted by strategic decisions that affected revenue by $35 million [1][12] - The company achieved its second-highest consolidated adjusted EBITDA in history during Q4 [1] - International cannabis revenue surged by 71% in Q4 and 19% for the fiscal year, with Canadian cannabis maintaining the top revenue position [1][4] - Tilray Beverages and Tilray Wellness experienced revenue growth of 19% and 9%, respectively, for the fiscal year [1][11] Financial Performance - Fiscal year 2025 net revenue increased by 4% to $821.3 million compared to $788.9 million in the prior fiscal year [13] - Gross profit for the fiscal year rose by 8% to $240.6 million, with a gross margin of 29% [13] - Cannabis net revenue for fiscal 2025 was $249 million, down from $272.8 million in the previous year, primarily due to strategic margin preservation efforts [13][11] - Adjusted EBITDA for fiscal 2025 was $55 million, compared to $60.5 million in the prior fiscal year [13] Strategic Initiatives - The company is focusing on international growth, with a 19% increase in international cannabis revenue and a 112% growth in European cannabis revenue when excluding Australia [4][5] - Tilray has made strategic acquisitions in the beverage sector, acquiring four craft brands from Molson Coors to enhance its market presence [6] - The introduction of hemp-derived Delta-9 THC drinks in the U.S. is part of Tilray's strategy to innovate at the intersection of cannabis, beverages, and wellness [7] Balance Sheet and Liquidity - Tilray reported a strong balance sheet with $256 million in cash and marketable securities, and total debt repayments of approximately $100 million to date [2][8] - The net debt to trailing twelve months adjusted EBITDA ratio stands at 0.3x, indicating strong financial health [8] Future Outlook - For fiscal year 2026, the company expects adjusted EBITDA to be between $62 million and $72 million, representing growth of 13% to 31% compared to fiscal year 2025 [12][11] - The company anticipates significant growth opportunities in cannabis, beverage, and wellness sectors, particularly in Europe and emerging markets [3][4]

Industry Trend - AI is poised to democratize access to personalized wellness services, making them available to a broader population at a significantly lower cost [1] - AI and AI-powered products are expected to substantially reduce the cost of wellness-related offerings, particularly those delivered digitally [2] Wellness Service - Currently, luxury wellness includes services like wellness coaches and personal trainers, which are expensive and accessible only to a small fraction of the population [1]

Market Overview & Growth - The global wellness wearables market is on the rise, with IDC expecting revenues to grow from $63 billion in the past year to nearly $78 billion by 2029 [4][5] - WOOP experienced 70% year-over-year growth in the last 12 months, driven by its expansion from a primarily US business to a global presence in 50 markets [24][25] Competitive Landscape & Differentiation - The wellness wearables arena is crowded, attracting billions in investment and spawning new startups regularly [9] - Khosla Ventures seeks unique, protectable technology with IP that offers unique benefits in the competitive wearables landscape [12] - WOOP differentiates itself through technology, using sophisticated biometric monitoring and data collection for more actionable health insights, focusing on accuracy and specific health outcomes rather than being a general smartwatch [15][16][17] Technology & Innovation - Wearable technology is evolving from providing insights to offering therapeutic interventions [18][19][33] - AI is being used to improve algorithms for sensing in wearables, leading to better performance and accuracy [30] - Flow Neuroscience uses gentle electric stimulation to treat mild to moderate depression, with clinical trials showing about 16% improvement in remission in depressive symptoms compared to 20% in placebo [21][22] Company Specifics (WOOP) - WOOP was valued at $3.6 billion as of its last funding round in 2021 [6] - WOOP's latest models, WOOP 5.0 and WOOP emoji, feature a 14-day battery life and more accurate sensing, with medical clearances for EKG monitoring, AFib detection, and blood pressure insights [17] Future Trends & Potential - Wearables have the potential to replace or reduce the frequency of visits to the doctor's office [34] - Wearable technologies, along with other monitoring devices, may eventually be the answer to capturing and correcting diseases early on [32]

Core Insights - Limitless X Holdings, Inc. has secured a $250,000 bridge financing facility through a related-party transaction with its Chairman and CEO, Jas Mathur, indicating strong insider confidence in the company's long-term vision and strategic roadmap [1][2][3] Financing Details - The financing is structured as a 12-month promissory note with a compelling yield, reflecting strong insider support and confidence in the company's long-term strategy [2] - EM1 Capital LLC received an equity incentive package, including restricted equity and performance-aligned warrants, designed to reward long-term belief in the company's vision [2] Leadership Confidence - The internal capital commitment by the founder and largest shareholder sends a clear message of leadership confidence to the market [3] - Jas Mathur emphasized that this investment is a belief in the team and the mission, positioning the company to be a market leader in transformational wellness [4] Capital Allocation - The capital will be allocated toward core operations, regulatory compliance, corporate initiatives, and the initial rollout of offline sales channels [4] - It will also support the early-phase development of HealthMD.com, a subsidiary aimed at enhancing the company's long-term wellness strategy [4] Market Positioning - The global wellness market exceeds $5 trillion, with increasing demand for hyper-personalized health solutions, positioning Limitless X at the intersection of technology, diagnostics, and lifestyle optimization [5] - Direct funding from Mr. Mathur aligns executive leadership with shareholders, signaling conviction amid the company's expansion [5] Company Overview - Limitless X Holdings, Inc. is building a value-driven ecosystem focused on health, wellness, entertainment, community building, and brand development [6] - The company specializes in Direct-to-Consumer eCommerce, offering innovative products and services to empower individuals [6] Expansion Plans - The company is expanding into the Film and Television sector, developing content aligned with its core philosophy [7] - Plans to enter the Real Estate sector through High-Performance Healthy Living, creating wellness-focused residential communities [7] Global Strategy - Limitless X aims to grow its global distribution footprint and international presence, bringing wellness-focused products to consumers worldwide [8] - The company leverages advanced digital marketing strategies and strategic partnerships to drive long-term shareholder growth and community impact [8]

Core Viewpoint - Tilray Brands, Inc. is set to release its financial results for the fourth quarter and full fiscal year ended May 31, 2025, on July 28, 2025, after market close [1] Group 1: Financial Results Announcement - The financial results will be announced after market close on July 28, 2025 [1] - A live conference call and audio webcast will be held to discuss these results at 4:30 PM Eastern Time on the same day [2] Group 2: Company Overview - Tilray is a leading global lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America [3] - The company focuses on the cannabis, beverage, wellness, and entertainment industries, aiming to elevate lives through moments of connection [3] - Tilray supports over 40 brands in over 20 countries, offering comprehensive cannabis products, hemp-based foods, and craft beverages [3]