Summary by Futu AI
Tilray Brands, a global cannabis-lifestyle and consumer products company, reported a significant increase in net revenue for the three months ended February 29, 2024, reaching $188.34 million, a 29% rise from $145.59 million in the same period the previous year. The nine-month period saw a 26% increase to $559.06 million from $442.94 million. The growth was attributed to acquisitions, including the Craft Acquisition of beverage alcohol brands and HEXO Corp. Beverage alcohol revenue alone surged by 165% and 100% for the three and nine-month periods, respectively. Cannabis net revenue also grew by 33% and 29% for the respective periods, with international cannabis revenue showing a notable 44% and 42% increase. Distribution revenue saw a slight decrease for the three-month period but increased overall for the nine months. Wellness revenue consistently...Show More