Tilray Brands, Inc.

Tilray Brands, Inc. Overview

Company Headquarter: Ontario, Canada

Founded: 2013

Workforce: ~1800

Company Working: Tilray Brands, Inc. (Tilray) engages in the research, cultivation, production, and distribution of medical cannabis and cannabinoids. The company is focusing on medical cannabis research, cultivation, processing, and distribution of cannabis products worldwide. Its products include dried cannabis and cannabis extracts. It operates through the following segments: cannabis and hemp. The cannabis segment sales consist of adult-use, medical, and bulk sales of cannabis under-regulated licenses and sold to retail, wholesale, pharmacy, government, and direct to the patient. The hemp segment sales consist of hemp seed, hemp foods, board spectrum hemp extract containing CBD sold in an unlicensed operation and sold to retail, wholesale, and direct to consumers. It is a GMP-certified medical cannabis producer, which supplies cannabis flower and extract products to tens of thousands of patients, physicians, pharmacies, hospitals, governments, and researchers on five continents. Its subsidiaries include Manitoba Harvest (Canada), High Park Company (Canada), Tilray Australia & New Zealand, Tilray Canada, Tilray Europe, and Tilray Latin Americas. In 2018, the company created a Medical Advisory Board, which guides its clinical trial selection process and product development initiatives. It has seven production and processing facilities, including one in Portugal, three cultivation sites in Ontario & British Columbia, and three processing facilities in Manitoba & Ontario. In May 2021, Tilray and Aphria Inc. (Canada) announced their merger in an all-stock deal.

The company is directly present in more than 10 countries and has a strong presence in all the established markets such as North Americas, Europe, Africa, and Australia. It also focuses on the research and development of innovative products and spends a significant amount of revenue on R&D

Strategy

Tilray's strategy to focus on international expansion. The Canadian cannabis producer reported better-than-expected sales but missed on the bottom line due to a lack of supply in Canada and high international expansion costs. Tilray is focusing its strategy on consumer products and medicinal markets by collaborating with pharmaceutical giants for clinical trials across the globe. Its recent mergers and acquisitions are anticipated to increase the availability of cash flow further fueling expansive strategies.

Company Snapshot

$179.3M

Revenue

1,800

Employees

2013

Founded

SWOT Analysis

Strengths

Presence in the international market
Robust supply chain
Strong collaborative partnerships

Weaknesses

Falling profits in recent years
Negative cash flows

Opportunities

Partnerships and collaborations for product line expansion
Improving cash flows

Threats

Fluctuating raw material prices
Rising competitors in the market

Key Developments

Date	Approach	Development
October 2022	Expansion	Tilray Brands, Inc. relaunches cannabis oral solution across Ireland to expand its footprint across Ireland.
August 2022	Product launch	Tilray Brands, Inc. launched its comprehensive range of THC and CBD products in Canada.
June 2022	Expansion	June 2022 Tilray Brands, Inc. expands portfolio of medical cannabis products in the UK. Tilray is offering differentiated range of high THC products.
February 2022	Product launch	Tilray Brands, Inc., medical cannabis division launched its product in Malta. It is providing patients with safe and reliable access to high-quality medical cannabis.
December 2021	Merger	Tilray Brands, Inc. and Aphria, Inc. (Canada) have announced their merger in an all-stock deal that creates the world’s largest cannabis company by sales.
August 2021	Product launch	Tilray Brands, Inc. launched the medical cannabis edibles in THC and CBD-rich varieties of chocolates and soft chew gummies. These helps in pain management and anxiety treatment.
May 2021	Approval	Tilray Portugal, a subsidiary of Tilray Brands, Inc. received approval in for Good Manufacturing Practice (GMP) certification in accordance with European Union standards, for its manufacturing facility in Cantanhede, Portugal. This GMP certification expands the company’s international export capacity to serve authorized medical cannabis markets. The company can export its cannabis products throughout European Union and other international markets with legal, medical cannabis regulations.
January 2021	Agreement	Tilray Brands, Inc. entered into a strategic agreement with Canndoc Ltd. (Israel), a wholly owned subsidiary of InterCure Ltd. (Israel), through its wholly owned subsidiary Tilray Portugal Unipessoal Lda., to export a wholesale shipment of up to 2.5 tons of medical cannabis from Portugal to Israel.
December 2019	Expansion	December 2019 Tilray Brands, Inc. expanded its global presence with successful export to Switzerland. Switzerland becomes the 14th country where patients can access Tilray’s medical cannabis products.
December 2019	Partnership	Tilray Brands, Inc. formed a research innovation partnership with the University of Coimbra to study medical cannabis. The strategic research partnership aims to support the further development of cannabis-derived medical products.

Product Offering

Tilray Brands, Inc.
- Medical Cannabis

Financial Performance

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