It’s a big Trade To Black Podcast today as we’re talking earnings. We won’t be discussing just any earnings reports either; Tilray Brands’ Q2 2024 report came out just this week on January 9th. We’ll be taking a dive into these numbers. You’ll also get a peek into the company’s outlook for this coming year with an exclusive interview from Tilray Brands Chairman and CEO, Irwin Simon and the CFO, Carl Merton.
Tilray had an exciting year last year. They acquired eight beer and beverage brands From Anheuser-Busch. This positioned Tilray as the 5th largest craft beer brewer in the US and possibly on their way to becoming a top 12 beverage-alcohol company. They also contributed to a clinical trial on the efficacy of cannabis as a treatment for gioblastomas. And their quarterly reports routinely showed a lot of promise.
Q2 2024 continues some of those trends with record breaking net revenue on the cannabis side of the business. They showcased a remarkable 34% increase over the prior year with a net revenue of $194m. Other highlights include a 31% growth in Canadian cannabis net revenue and a 55% growth in international cannabis net revenue.
In the interview with Irwin and Carl, not only will we dive into more of their earnings report, we’ll explore the transformative impact Tilray has had on global cannabis supply, lifestyle, and the CPG industry. Tilray’s market share numbers position them as the leading cannabis company in Canada in addition to those international market growth numbers.
The integration of the HEXO acquisition helped them achieve substantial annual savings. What lies ahead for Tilray in 2024? Tune in to find out more about their successes and plans for this year. You won’t want to miss this exciting interview between host Shadd Dales, millennial investor Anthony Varrell, and Tilray’s CEO, Irwin Simon.