Tilray Brands Reports Q2 2025 Financial Results
- Gross Profit Increased by 29% Year-Over-Year, Reaching $61 Million in Q2 with Growth Across All Four Business Segments
- Achieved 9% Year-Over-Year Growth, Generating Record Q2 Net Revenue of $211 Million, 10% in Constant Currency
- Beverage Revenue Increase by 36%, International Cannabis by 25%, Wellness Segment by 13%
- Announces Project 420: A $25 Million Synergy Plan for Tilray Beverage Business
- Tilray Reaffirms Fiscal Year 2025 Guidance
- Conference Call to be Held at 8:30 a.m. ET Today
NEW YORK and LEAMINGTON, Ontario, Jan. 10, 2025 (GLOBE NEWSWIRE) — Tilray Brands, Inc. (“Tilray”, “our”, “we” or the “Company”) (Nasdaq: TLRY; TSX: TLRY), a global lifestyle and consumer packaged goods company leading the forefront of beverage, cannabis and wellness industries, today reported financial results for its second quarter ended November 30, 2024. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.
Irwin D. Simon, Chairman and Chief Executive Officer of Tilray Brands, stated, “In our fiscal second quarter, Tilray achieved strong results while making significant progress on our strategic plan. Our dedication to operational excellence has improved Gross Margins, Gross Profit, and overall profitability across our business segments, positioning us favorably for future success.”
Mr. Simon stated, “As we enter the second half of the year, we remain committed to delivering on our financial guidance and driving shareholder value. Tilray is a leading force at the forefront of the beverage industry, revitalizing the beer market, driving growth in spirits and non-alcoholic beverages, and advancing the legitimacy of cannabis for both recreational and medical use. Through our brew pubs, we focus on bringing people together, creating exceptional experiences through entertainment, and enhancing lives through moments of connection. As I’ve said in the past, new industries are not born, they are built. To that end, we are trailblazing the future of consumer products through the infrastructure we have built. I am enthusiastic about what lies ahead, including the potential future legalization of cannabis in the U.S.”
