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

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 rose by 12% and 4% for the three and nine-month periods. Operating expenses saw a dramatic decrease due to the absence of impairment charges and a reduction in other expenses. The company's strategic focus on targeted advertising, innovation, and expansion into new markets contributed to the positive financial performance. Tilray's future plans include optimizing the newly acquired beverage alcohol brands, expanding distribution, and continuing to lead in the cannabis market through strategic acquisitions and cost management.