Tilray Brands (TLRY) Q4 2025 Earnings Call July 28, 2025 04:30 PM ET Company ParticipantsBerrin Noorata - Chief Communications & Corporate Affairs OfficerIrwin Simon - CEO & ChairmanCarl Merton - CFOKaumil Gajrawala - Managing DirectorDenise Faltischek - Chief Strategy Officer & Head - InternationalRajnish Ohri - Managing DirectorRobert Moskow - Managing Director Aaron Grey - MD & Head of Consumer ResearchPablo Zuanic - Managing PartnerFrederico Gomes - Director, Institutional Research, Life SciencesConfere ...

Fiscal Year Net Revenue of $821 Million, $834 Million in Constant Currency, Strategic Decisions Impacted Revenue by $35 Million Q4 Consolidated Adjusted EBITDA is the 2nd Highest in the Company’s History International Cannabis Revenue Increased 71% in Q4 and 19% for the Fiscal Year; Canadian Cannabis Remained #1 by Revenue in the Fiscal Year; Global Cannabis Gross Margin Increased by ~700 Basis Points in the Fiscal Year 19% Revenue Growth in Tilray Beverages with $241 Million for the Fiscal Year 9% Revenue ...

精酿啤酒的核心竞争力在于其独立性与创新性。许多精酿企业通过坚持传统酿造工艺、强调原料品质以及开发独特风味，形成鲜明的品牌标识。例如，部分 企业通过"工坊式"生产模式，将啤酒与地方文化、艺术设计等结合，打造具有地域特色的精酿产品。此外，精酿啤酒的"小众"属性使其在品牌忠诚度上具有 天然优势，消费者更倾向于选择与自身价值观契合的品牌。 市场地位认证是一个多维度、系统化的过程，对企业战略的影响是深远的。随着国内外市场竞争的加，以及消费者需求的多样化，市场地位认证的重要性将 日益凸显。对于国内企业来说，市场地位认证不仅是企业自身发展的需要，更是适应市场变化、实现可持续发展的重要手段。中金企信专家建议，国内相关 公司应积极拥抱市场地位认证，通过专业的评估和认证，不断提升自身的市场竞争力和品牌价值，开启企业增长的新篇章。 精酿啤酒作为中国啤酒产业的重要分支，近年来呈现出快速发展的态势。其核心特征在于小规模生产、原料选择精细、风味独特以及对消费者个性化需求的 精准响应。与传统工业啤酒相比，精酿啤酒更注重品质与创新，逐渐成为高端市场的重要力量。随着中国啤酒消费结构的调整，精酿啤酒凭借其差异化优 势，正逐步打破工业啤酒的垄断格 ...

Core Insights - Tilray Brands, Inc. is hosting a series of Independence Day events across its craft beer taprooms in the U.S. to enhance the holiday experience [1] - The events will feature live music, limited-release brews, barbecues, and unique local festivities [1][16] Event Highlights - Atwater Brewery in Detroit is offering a BBQ deal for $15, which includes a cheeseburger or two hot dogs, two sides, and a beer [3] - 10 Barrel Brewing in East Bend, OR, will have food and drink specials, a best-dressed patriotic contest, and fireworks, with all activities free for all ages [4] - Blue Point Brewing Co will host live music and to-go beer specials, with a special event at the Boardy Barn on July 6, featuring a cover charge and various drink specials [6] - Breckenridge Brewery will feature an 80-piece orchestra and fireworks on July 3, with ticket prices ranging from $14 to $475 for VIP tables [8] - Montauk Brewing Company released a limited-edition beer for its anniversary and will offer it throughout the July 4 week [10] - SweetWater Brewing Co will participate in the Peachtree Road Race and host live music and food specials over the weekend [12] - Terrapin Beer Co will have various activities including beer specials, BBQ food trucks, and contests [14] Company Overview - Tilray Brands, Inc. is a leading global lifestyle and consumer packaged goods company with operations in multiple regions including North America, Europe, and Latin America [17] - The company aims to be a transformative force at the intersection of cannabis, beverage, wellness, and entertainment, focusing on creating memorable experiences [17][18]

Core Insights - The craft beer market is emerging as a differentiated consumption segment, driven by unique flavors, diverse product positioning, and cultural attributes [1] Group 1: Consumer Demographics - The primary consumer group for craft beer consists of young individuals aged 25-35, accounting for over 60% of the market [1] - Female consumers represent approximately 35% of the craft beer market, showing a significant increase compared to traditional beer demographics [1] Group 2: Consumer Motivations and Preferences - Key drivers for consumers choosing craft beer include quality pursuit, cultural identity, and situational adaptability [2] Group 3: Regional and Consumption Levels - First-tier and new first-tier cities contribute over 70% of the craft beer market share, with cities like Beijing, Shanghai, Guangzhou, and Shenzhen leading due to high consumer spending power and mature bar culture [4] - The average price per craft beer is concentrated in the range of 30-80 yuan, which is 3-5 times higher than industrial beer, targeting households with monthly incomes generally above 15,000 yuan [4] Group 4: Consumer Segmentation - Quality-oriented consumers (approximately 45%) focus on raw materials and unique taste, favoring styles like IPA and Stout [5] - Social experience-oriented consumers (about 30%) engage in craft beer culture through events and social media [5] - Health-conscious consumers (25%) prefer low-alcohol and additive-free options, emphasizing casual drinking scenarios [5] Group 5: Brand Loyalty and Consumer Behavior - Craft beer consumers exhibit clear segmentation: seasoned enthusiasts (15%) favor niche brands with high repurchase rates of 80%, trend followers (50%) are influenced by social media, and entry-level users (35%) are open to promotions and experiences [7] - Overall brand loyalty in craft beer is lower than in traditional beer, leading to a market characterized by continuous innovation [7] Group 6: Future Trends and Potential - The entry of Generation Z (born 1995-2009) into the beverage market is expected to drive demand for low-sugar, low-calorie, and gluten-free options, alongside the rise of domestic craft brands [9] - There is a significant growth in demand for home consumption scenarios and gift packaging, with an anticipated annual compound growth rate of 12% in craft beer consumer base over the next five years [9] Conclusion - The craft beer market is characterized by a younger, quality-focused, and segmented consumer base, with evolving demands that extend beyond taste to cultural recognition and social value [10]

Core Viewpoint - Stock splits can indicate a company's performance, with forward splits often seen positively, while reverse splits may signal struggles, as exemplified by Tilray Brands [1][2][4]. Group 1: Stock Splits - A forward stock split increases the number of shares for each investor, often indicating expected strong performance and making shares more affordable [2]. - A reverse stock split reduces the number of shares and increases the stock price proportionately, often used to avoid delisting from major exchanges [2][3]. Group 2: Tilray's Performance - Tilray has faced significant challenges, with its share price dropping below $1, currently at approximately $0.43, indicating a long-term downward trend [4]. - The company's financial results are disappointing, with revenue growth largely driven by acquisitions and consistent unprofitability [4][6]. - The legal landscape for cannabis remains difficult, with federal illegality in the U.S. and regulatory barriers in Canada hindering growth [6]. Group 3: Reverse Stock Split Proposal - Tilray announced a special stockholders' meeting to vote on a reverse stock split proposal, which is likely to be approved given the company's current situation [7]. - A reverse stock split would prevent delisting from Nasdaq but does not address the underlying business challenges [8]. Group 4: Future Prospects - Tilray has reduced its focus on cannabis and is now a leading craft brewer in the U.S., hoping for future federal legalization of cannabis [8]. - CEO Irwin Simon anticipates potential legalization during President Trump's second term, which could position Tilray favorably in the cannabis-infused drinks market [9]. - However, uncertainties remain regarding the timeline and specifics of legalization, which could limit market potential [9][10]. Group 5: Investment Outlook - Given the ongoing challenges and lack of attractive business prospects, Tilray is not considered an appealing investment opportunity [10].

Core Viewpoint - Tilray Brands is currently trading at its all-time low, having lost 94% of its value over the past five years, primarily due to the lack of marijuana legalization in the U.S. which investors had anticipated [1][4][10] Financial Performance - The company's total net revenue for the most recent quarter ended on February 28 was $185.8 million, reflecting a 1% decline [7] - Tilray reported an operating loss of $760 million, which included impairment charges of nearly $700 million [7] - The company burned through $5.8 million in cash from its day-to-day operations [7] Growth Strategy - Tilray has been pivoting towards alcohol to grow its top line, but this strategy has not generated sufficient growth to attract investors [5][6] - The company is exploring international cannabis markets and acquiring craft beer brands in the U.S. as potential growth avenues, but these efforts have not yielded significant results [6] Investment Considerations - The stock has been in a continuous decline, and buying it at a lower price has not proven to be a successful strategy [9] - Without a significant catalyst for growth or a clear path to profitability, the stock may not be a worthwhile investment at this time [10]

BEIJING, April 25, 2025 /PRNewswire/ -- ReTo Eco-Solutions, Inc. (Nasdaq: RETO) ("ReTo" or the "Company"), a manufacturer of ecological environment protection equipment and intelligent equipment in China, today announced that on April 25, 2025, it has closed the acquisition of 51% equity interest of MeinMalzeBier Holdings Limited, a British Virgin Islands business company ("MeinMalzeBier"). MeinMalzeBier, a company engaged, through its PRC operating subsidiaries, in the marketing and sales of craft beer and ...

Group 1: Company Overview - Tilray Brands went public in 2018 and has since faced significant challenges, with the stock losing nearly all its value despite the U.S. cannabis market exceeding $38 billion last year [1][2] - The company has evolved into a global cannabis business, initially focusing on medical cannabis and later expanding into recreational cannabis, hemp foods, and beverages [4][5] - Tilray currently sells over 40 brands of cannabis products and generated $829 million in sales last year, with projected revenue growth to $893 million this year and $943 million next year [5][6] Group 2: Financial Performance - While sales are not a concern, Tilray has struggled with profitability, reporting a free cash flow of minus $92 million and net losses nearing $250 million last year [7][8] - The U.S. cannabis market is expected to grow over 11% annually through 2030, presenting opportunities for Tilray's diverse product portfolio [6] Group 3: Challenges and Risks - The company has faced operational challenges due to varying legal statuses of cannabis across states in the U.S., leading to pricing pressures and competition from the black market [8] - Tilray's rapid expansion has resulted in a 348% increase in diluted share count since 2018, which negatively impacts revenue and profit distribution among shareholders [9][10] - Despite potential future growth, the stock is unlikely to yield significant returns for investors due to ongoing losses and share dilution [11]