Latest news with #Tilray
Yahoo
4 days ago
- Business
- Yahoo
Tilray wants to light up US market for hemp-derived drinks
This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Canada's largest cannabis producer wants to break through the hazy U.S. market with an expansion of hemp-based drinks. Tilray Brands has expanded its presence in states with an infrastructure for hemp-derived drinks like Georgia and Florida. Tilray launched hemp-derived THC drinks in several markets across the U.S. and the company's drinks are now in 1,000 stores across the country, according to its latest earnings call. Sales of hemp-derived THC drinks brought in $382 million in 2024, according to Brightfield Group. U.S. sales are expected to grow to nearly $750 million by 2029. Jared Simon, the president of Tilray Wellness, said many of the hundreds of retailers it works with in the alcohol ecosystem, like beer and liquor stores, are open to growing the presence of hemp drinks. 'That's a big synergy that we have as Tilray, and having a network of hundreds of new distributors that we already work with,' Simon said. 'We've innovated time and time again with cannabis-driven THC in the Canadian market, and we've been able to take those learnings and apply them to hemp-derived THC here in the U.S.' Tilray was able to begin selling hemp delta 9-derived drinks because of a loophole in the 2018 Farm Bill, which allows companies to sell drinks with 0.3% THC. This has allowed for the sale of the drinks across state lines in several states. Other brands, like Jones Soda's Mary Jones, have rolled out similar products. Tilray has struggled in the U.S. cannabis market as the path to national legalization remains unclear. The company pivoted to beverages in the U.S., becoming the fifth largest craft brewer through a series of acquisitions from beer giants Molson Coors and Anheuser-Busch. As traditional cannabis and alcohol sales slow, Tilray is positioning hemp-derived drinks as a wellness product that helps consumers unwind without getting them high or drunk. The company also introduced non-alcoholic drinks within its craft beer brands. But the company's financial state is driving concern as consumer sentiment declines. On its earnings call last month, the company reported a $700 million non-cash impairment charge linked to 'market volatility' and a perception of reduced likelihood of cannabis regulation, the company's CFO Carl Merton told investors. Tilray's CEO and chairman Irwin D. Simon said the company is confident in its potential for long-term success, and sees the current hit to its revenue as a temporary roadblock. He pointed to the company's cannabis infrastructure and diversification strategy across the beverage industry. Simon said Tilray has aspirations to make hemp-derived drinks a "multi-million dollar business." More consumers are switching from cannabis to hemp-derived THC, according to Brightfield Group. A survey from the research firm found 22% of respondents said hemp-derived drinks served as an entry point into the cannabinoid world, potentially creating new cannabis customers for companies like Tilray. "I think a big thing is educating the consumer what hemp-derived drinks are and what Delta-9 drinks are, and the benefits from them," Simon said in an earnings call. "So that's a big, big opportunity for us.' Sarah Zimmerman contributed to this story. Recommended Reading Tilray bets big on beverages to drive growth
Yahoo
12-06-2025
- Business
- Yahoo
End of an era: Redhook to leave Capitol Hill as last Seattle location shuts down
This story was originally posted on The Redhook Ale Brewery in Capitol Hill is set to close after eight years of operation. Redhook did not announce a date for the microbrewery's closure, but is planning to open a new location in the future, according to The Capitol Hill Seattle Blog. Tilray acquired the brewery and taproom in an$85 million deal with Anheuser-Buschin 2023. The company has not provided its reasoning for shutting down the Capitol Hill brewery. 'During this transition period, Redhook beer will continue to be brewed and available, ensuring that our loyal customers can still enjoy their favorite brews without interruption,' Tilray said in a statement, according to The Capitol Hill Seattle Blog. The Capitol Hill Brewlab is the last brewery and pub of the Redhook locations. The Redhook Brewery is fully capable of producing its own beverages, although Redhook's ale is primarily bottled and canned in Oregon. Redhook's founders, Paul Shipman and Gordon Bowker, began their journey in 1981, renovating a transmission shop in Ballard and converting it into a brewery, according to Redhook Brewing. Redhook later opened a brewery and pub in Fremont, The Trolleyman, in 1987, occupying a historic building that served as a barn for trolley cars until the 1940s. The Woodinville brewery opened in 1996 as a 'state-of-the-art production facility' to keep up with heavy demand for Redhook Ale. A sister brewery in Portsmouth, New Hampshire also opened in 1996, making Redhook the first craft brewery to have a bicoastal operation, according to Redhook. More than a decade later, in 2017, Redhook Brewlab opened in Seattle's Capitol Hill. The location was an eight-barrel on-site brewing system with 16 taps.
Yahoo
10-06-2025
- Business
- Yahoo
Tilray Brands' Stockholders Approve Reverse Stock Split; Company Pauses Implementation as It Evaluates Timing and Stock Price
NEW YORK and LEAMINGTON, Ontario, June 10, 2025 (GLOBE NEWSWIRE) -- Tilray Brands, Inc. ('Tilray' or the 'Company') (Nasdaq: TLRY; TSX: TLRY), a global lifestyle and consumer packaged goods company at the forefront of the beverage, cannabis and wellness industries, today announced that the vote for an amendment of the Company's Fifth Amended and Restated Certificate of Incorporation, in order to implement a reverse stock split of the Company's common stock at a ratio ranging from 1-to-10 to 1-to-20 (the 'Reverse Stock Split'), passed at the special meeting of stockholders. The Company also announced a pause on the implementation of the newly-authorized reverse stock split while further exploring all options related to timing of the reverse split as it evaluates timing and stock price. If implemented, the Reverse Stock Split is expected to achieve several objectives, including: Ensuring compliance with the Nasdaq Global Select Market's continued listing requirements Aligning the Company's number of shares outstanding with companies of its size and scope Making Tilray more attractive to institutional shareholders Reducing expenditures associated with Tilray's Annual Meeting of Stockholders resulting in up to $1 million in cost savings on an annual run rate basis Upon implementation of the Reverse Stock Split, the Company believes it would be well positioned for strategic opportunities and acquisitions given its strong balance sheet. Tilray's Financial Structure In the fiscal quarter ended February 28, 2025, Tilray reduced its total debt outstanding by approximately $76 million. Consequently, net debt to trailing twelve-months Adjusted EBITDA is less than 1.0x. Tilray's balance sheet as of the last fiscal quarter shows a cash and marketable securities balance of approximately $250 million, which provides the Company with financial strength and flexibility to pursue strategic opportunities, accretive acquisitions, invest in our businesses and further reduce outstanding debt. About Tilray Brands Tilray Brands, Inc. ('Tilray') (Nasdaq: TLRY; TSX: TLRY), is a leading global lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America that is leading as a transformative force at the nexus of cannabis, beverage, wellness, and entertainment, elevating lives through moments of connection. Tilray's mission is to be a leading premium lifestyle company with a house of brands and innovative products that inspire joy and create memorable experiences. Tilray's unprecedented platform supports over 40 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and craft beverages. For more information on how we are elevating lives through moments of connection, visit and follow @Tilray on all social platforms. Forward-Looking Statements Certain statements in this communication that are not historical facts constitute forward-looking information or forward-looking statements (together, 'forward-looking statements') under Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be subject to the 'safe harbor' created by those sections and other applicable laws. Forward-looking statements can be identified by words such as 'forecast,' 'future,' 'should,' 'could,' 'enable,' 'potential,' 'contemplate,' 'believe,' 'anticipate,' 'estimate,' 'plan,' 'expect,' 'intend,' 'may,' 'project,' 'will,' 'would' and the negative of these terms or similar expressions, although not all forward-looking statements contain these identifying words. Certain material factors, estimates, goals, projections, or assumptions were used in drawing the conclusions contained in the forward-looking statements throughout this communication. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses, or current expectations concerning, among other things the timing, ratio and completion of the Reverse Stock Split and expected strategic benefits and cost savings. Many factors could cause actual results, performance, or achievement to be materially different from any forward-looking statements, and other risks and uncertainties not presently known to the Company or that the Company deems immaterial could also cause actual results or events to differ materially from those expressed in the forward-looking statements contained herein. For a more detailed discussion of these risks and other factors, see the most recently filed annual information form of Tilray and the Annual Report on Form 10-K (and other periodic reports filed with the SEC) of Tilray made with the SEC and available on EDGAR. The forward-looking statements included in this communication are made as of the date of this communication and the Company does not undertake any obligation to publicly update such forward-looking statements to reflect new information, subsequent events, or otherwise unless required by applicable securities laws. Use of Non-U.S. GAAP Financial Measures This press release includes non-GAAP financial measures, including cash and marketable securities and net debt. Management believes that the non-GAAP financial measures presented provide useful additional information to investors about current trends in the Company's operations and are useful for period-over-period comparisons of operations. These non-GAAP financial measures should not be considered in isolation or as a substitute for the comparable GAAP measures. In addition, these non-GAAP measures may not be the same as similar measures provided by other companies due to potential differences in methods of calculation and items being excluded. They should be read only in connection with the Company's Consolidated Statements of Operations and Cash Flows presented in accordance with GAAP. Adjusted EBITDA is calculated as net income (loss) before income tax benefits, net; interest expense, net; non-operating income (expense), net; amortization; stock-based compensation; change in fair value of contingent consideration; purchase price accounting step-up; impairments, other than temporary change in fair value of convertible notes receivable, project 420 optimization costs facility start-up and closure costs; litigation costs; restructuring costs, and transaction (income) costs, net. A reconciliation of Adjusted EBITDA to net loss, the most directly comparable GAAP measure, has been provided in the financial statement tables included below in this press release. Cash and marketable securities are comprised of two GAAP measures, cash and cash equivalents added to marketable securities. The Company's management believes that this presentation provides useful information to management, analysts and investors regarding certain additional financial and business trends relating to its short-term liquidity position by combing these two GAAP metrics. Net debt is comprised of GAAP measures and reduces bank indebtedness, current and non-current portions of long-term debt, the principal balance of convertible debt by cash and cash equivalents and marketable securities. The company believes this metric provides useful information to management, analysts, and investors regarding its liquidity and the Company's ability to repay all of its debt. Contacts:Investor Relationsinvestors@ Medianews@ in to access your portfolio
The Market Online
30-05-2025
- Business
- The Market Online
Diversify away from cannabis retail with this technology stock
While overproduction, inflation and the glacial pace of legalization have humbled the top Canadian cannabis stocks, such as Tilray (TSX:TLRY) and Canopy Growth (TSX:WEED), from large-cap glory to small-cap question marks, there are certain companies that have managed to generate long-term shareholder value, despite the volatility of a nascent industry, giving investors every reason to expect continued growth into the future. A stock well worth your attention under this lens is Cannabix Technologies (CSE:BLO), market capitalization C$69.09 million, a technology developer specializing in cannabis and alcohol breathalyzers for workplaces, law enforcement, laboratories and other critical settings. The company has been on a role over the past 12 months, achieving positive third-party testing for its alcohol and cannabis-detection technologies, reducing net losses by over 75 per cent from C$2.08 million to C$450,000, in addition to securing a handful of deals that set operations up for revenue generation. These include: Cannabix's latest milestone, a contract manufacturing deal with Price Industries in Winnipeg, Manitoba, announced earlier this week, continues to demonstrate the company's ability to attract well-established partners and pave out its long-term growth runway. The company's diligent product development and consistency at closing deals have earned investors a 76.47-per-cent return year-to-date, an over 250-per-cent return from the five-year low in 2023, and an over 350 per cent return since adopting the Cannabix name in 2014, all of which has come before reporting any revenue on the balance sheet. Once initial orders roll in and Cannabix's top line starts to put up positive numbers, look for the broader market to pile in and reward the patience of long-term investors. While there's no specific timeline for this, the company is well-capitalized to continue building strategic relationships and go-to-market momentum with over C$2.8 million in cash as of January 2025. Join the discussion: Find out what everybody's saying about this alcohol and cannabis breathalyzer technology stock on the Cannabix Technologies Inc. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Yahoo
30-05-2025
- Business
- Yahoo
Beverages, Alcohol, and Tobacco Stocks Q1 In Review: Tilray (NASDAQ:TLRY) Vs Peers
As the Q1 earnings season comes to a close, it's time to take stock of this quarter's best and worst performers in the beverages, alcohol, and tobacco industry, including Tilray (NASDAQ:TLRY) and its peers. These companies' performance is influenced by brand strength, marketing strategies, and shifts in consumer preferences. Changing consumption patterns are particularly relevant and can be seen in the rise of cannabis, craft beer, and vaping or the steady decline of soda and cigarettes. Companies that spend on innovation to meet consumers where they are with regards to trends can reap huge demand benefits while those who ignore trends can see stagnant volumes. Finally, with the advent of the social media, the cost of starting a brand from scratch is much lower, meaning that new entrants can chip away at the market shares of established players. The 15 beverages, alcohol, and tobacco stocks we track reported a mixed Q1. As a group, revenues missed analysts' consensus estimates by 0.5%. In light of this news, share prices of the companies have held steady as they are up 2.2% on average since the latest earnings results. Founded in 2013, Tilray Brands (NASDAQ:TLRY) engages in cannabis research, cultivation, and distribution, offering a range of medical and recreational cannabis products, hemp-based foods, and alcoholic beverages. Tilray reported revenues of $185.8 million, down 1.4% year on year. This print fell short of analysts' expectations by 10.1%. Overall, it was a slower quarter for the company with a significant miss of analysts' EBITDA and gross margin estimates. Irwin D. Simon, Chairman and Chief Executive Officer of Tilray Brands, stated, "Tilray Brands is shaping the future of consumer markets with a robust global infrastructure spanning the beverage, cannabis, and wellness industries. We are meeting the needs of today's consumers while preparing for the demands of tomorrow. In the third quarter, we prioritized sales quality and revenue, protected margins, reduced debt, and improved our capital structure. With a strong balance sheet and a clear vision for the future, Tilray is well positioned to capitalize on emerging opportunities and ensure long-term success.' Tilray delivered the weakest performance against analyst estimates and weakest full-year guidance update of the whole group. The stock is down 21.3% since reporting and currently trades at $0.46. Read our full report on Tilray here, it's free. With a primary focus on soda but also a presence in energy drinks and teas, Zevia (NYSE:ZVIA) is a better-for-you beverage company. Zevia reported revenues of $38.02 million, down 2% year on year, outperforming analysts' expectations by 1.7%. The business had a very strong quarter with a solid beat of analysts' EPS estimates and an impressive beat of analysts' EBITDA estimates. The market seems happy with the results as the stock is up 35.3% since reporting. It currently trades at $2.76. Is now the time to buy Zevia? Access our full analysis of the earnings results here, it's free. Sporting an impressive roster of iconic beer brands, Molson Coors (NYSE:TAP) is a global brewing giant with a rich history dating back more than two centuries. Molson Coors reported revenues of $2.30 billion, down 11.3% year on year, falling short of analysts' expectations by 5.1%. It was a disappointing quarter as it posted a significant miss of analysts' adjusted operating income estimates. As expected, the stock is down 6.1% since the results and currently trades at $53.34. Read our full analysis of Molson Coors's results here. A pioneer and behemoth in carbonated soft drinks, Coca-Cola (NYSE:KO) is a storied beverage company best known for its flagship soda. Coca-Cola reported revenues of $11.22 billion, flat year on year. This result topped analysts' expectations by 0.6%. Aside from that, it was a satisfactory quarter as it also recorded a decent beat of analysts' organic revenue estimates but EBITDA in line with analysts' estimates. The stock is flat since reporting and currently trades at $71.15. Read our full, actionable report on Coca-Cola here, it's free. Known for its flavorful beverages challenging the status quo, Boston Beer (NYSE:SAM) is a pioneer in craft brewing and a symbol of American innovation in the alcoholic beverage industry. Boston Beer reported revenues of $453.9 million, up 6.5% year on year. This number surpassed analysts' expectations by 4.1%. It was a very strong quarter as it also logged an impressive beat of analysts' EPS estimates and a solid beat of analysts' EBITDA estimates. Boston Beer scored the biggest analyst estimates beat among its peers. The stock is down 5.6% since reporting and currently trades at $228.55. Read our full, actionable report on Boston Beer here, it's free. Thanks to the Fed's rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn't send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump's November win lit a fire under major indices and sent them to all-time highs. However, there's still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy. Want to invest in winners with rock-solid fundamentals? Check out our Strong Momentum Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Join Paid Stock Investor Research Help us make StockStory more helpful to investors like yourself. 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