Core Viewpoint - TILT Holdings Inc. is undergoing a strategic transformation to become a focused, asset-light business centered on its Jupiter platform, with key milestones achieved in regulatory approvals and management agreements, while also planning to exit plant-touching operations in Ohio and Massachusetts [2][3]. Financial Summary - Revenue from continuing operations, excluding Ohio and Massachusetts, was $10.5 million for Q2 2025, down from $19.0 million in the prior year, primarily due to lower revenue from the Jupiter segment and macroeconomic pressures [4]. - Gross profit from continuing operations was $1.8 million, with a gross margin of 17.4%, compared to $3.6 million and 18.9% in the prior year, reflecting price compression and a shift in product mix [4]. - Net loss from continuing operations was $9.2 million, an improvement from a net loss of $16.6 million in the prior year, driven by decreased income tax expense and operating expenses [4]. - Adjusted EBITDA from continuing operations was $(2.0) million, compared to $(1.2) million in Q2 2024, attributed to lower gross profit [4]. - Cash flow from continuing operations was $4.4 million for the period, compared to $2.1 million cash used in the same period last year [4]. Operational Highlights - The company received regulatory approval for a retail transaction in Massachusetts and entered a management services agreement with MariMed for Standard Farms Pennsylvania [9]. - TILT achieved EU MDR certification for its QMID™ handheld vaporizer, positioning it for expansion in global medical markets [9]. - New product SKUs were soft-launched to broaden the product portfolio and meet customer needs [9]. - The company received a $3.5 million refund related to the Employee Retention Credit from the IRS [9]. Strategic Focus - The planned exit from U.S. plant-touching operations in Massachusetts and Ohio is a significant strategic shift, qualifying these assets for reporting as discontinued operations [3]. - The transition to a commission-based model for certain customers is part of the strategy to simplify operations and improve capital efficiency [2][4]. Cash Position - As of June 30, 2025, the company had $2.0 million in cash and cash equivalents, down from $2.9 million at the end of 2024 [4].

PHOENIX, June 18, 2025 (GLOBE NEWSWIRE) -- TILT Holdings Inc. (“TILT” or the “Company”) (Cboe CA: TILT) (OTCPK: TLLTF), a global provider of cannabis business solutions that include inhalation technologies, cultivation, manufacturing, processing, brand development and retail, today announces the results of the 2025 annual general meeting of shareholders of TILT (the “Shareholders”) held virtually on Tuesday, June 17, 2025 (the “Meeting”). The Company put forward the following proposals to be voted on by the ...