On our latest Trade To Black podcast, we have an action packed show featuring two of the biggest CEO names in the cannabis industry: Raj Grover from High Tide (NASDAQ: HITI) and Irwin Simon from Tilray (NASDAQ: TLRY). Joining them is top cannabis attorney Shane Pennington, Partner at Porter Wright Morris & Arthur LLC.
First up, Irwin Simon will join us to discuss Tilray’s latest earnings. Tilray reported revenue of $211 million, missing analyst estimates of $216.3 million. However, their revenue guidance for 2025 is $975 million at the midpoint, beating analyst estimates by 8.2% and implying 17.6% growth.
Simon highlighted key challenges and strategies for the company amid the Canadian cannabis market’s struggles with price compression and excessive excise taxes, which amount to approximately $150 million annually for Tilray alone. Tilray has plans to launch 50-60 new products in 2025 and expand their THC-infused beverage line, which holds a billion-dollar growth opportunity in both the U.S. and Canada.
High Tide CEO Raj Grover announced big news with the company’s entry into the German medical cannabis market through the acquisition of PureCan GMBH for €4.8 million, with an option to acquire full ownership in the future. He emphasized High Tide’s unique position to leverage relationships with Canadian producers, who supply half of Germany’s imported cannabis, to build an expansive product menu. With PureCan’s lean operations and high margins (40% gross and 29% EBITDA), High Tide plans to replicate its Canadian success, using this acquisition as a springboard to penetrate other European markets like Poland and the UK.
Lastly, Shane Pennington, counsel to Village Farms (NASDAQ: VFF), will join us to talk about the latest involving the rescheduling of cannabis. Last week Village Farms jointly filed a request to reconsider their previous motion to disqualify and remove the DEA from its role in the proposed rescheduling of marijuana from a Schedule I to a Schedule III drug. The new request includes evidence claiming that the DEA’s negative attitude towards the proposed rule has hurt the chances of rescheduling. Pennington believes this new evidence shows that the DEA is using its power to undermine the process and block the Schedule III proposal.
Hear the details on High Tide and Tilray when you tune in.