Tilray Brands reported Q1 fiscal 2024 net revenue of $200 million, up 13% year-over-year, with beverage alcohol revenue surging 132% to $56 million following strategic acquisitions. However, net loss was $34.7 million compared to $55.9 million in the prior year period. Gross profit increased 35% to $59.7 million, with gross margin expanding to 30%.The cannabis segment saw revenue decline 13% to $61.2 million, while maintaining market leadership in Canada with a 9.8% share. The company's distribution revenue was relatively flat at $68.1 million, and wellness revenue grew 11% to $14.8 million. Operating expenses increased 23% to $96.3 million, primarily due to acquisition-related costs and restructuring charges.Looking ahead, Tilray continues to execute its growth strategy through acquisitions, including the recent purchase of eight craft beer brands from Anheuser-Busch for $83.7 million. The company maintains a strong liquidity position with $280.1 million in cash and marketable securities, while focusing on achieving positive cash flows and optimizing its operating structure.

Tilray Brands reported Q1 fiscal 2024 net revenue of $200 million, up 13% year-over-year, with beverage alcohol revenue surging 132% to $56 million following strategic acquisitions. However, net loss was $34.7 million compared to $55.9 million in the prior year period. Gross profit increased 35% to $59.7 million, with gross margin expanding to 30%.The cannabis segment saw revenue decline 13% to $61.2 million, while maintaining market leadership in Canada with a 9.8% share. The company's distribution revenue was relatively flat at $68.1 million, and wellness revenue grew 11% to $14.8 million. Operating expenses increased 23% to $96.3 million, primarily due to acquisition-related costs and restructuring charges.Looking ahead, Tilray continues to execute its growth strategy through acquisitions, including the recent purchase of eight craft beer brands from Anheuser-Busch for $83.7 million. The company maintains a strong liquidity position with $280.1 million in cash and marketable securities, while focusing on achieving positive cash flows and optimizing its operating structure.