Tilray Brands, Inc. reported financial results for fiscal year 2024, with net revenue increasing 26% to $788.9 million compared to $627.1 million in the prior year. The growth was primarily driven by the beverage alcohol segment which surged 113% to $202.1 million, and cannabis revenue rising 24% to $272.8 million following strategic acquisitions including HEXO and Truss Beverage Co.The company's net loss narrowed significantly to $222.4 million from $1.44 billion in FY2023, primarily due to the absence of non-cash impairment charges. Adjusted EBITDA improved slightly to $60.5 million from $58.7 million. Gross profit increased 52% to $223.4 million, though gross margin declined to 28% from 33% due to product mix changes and price compression in the Canadian cannabis market.The company maintained a strong financial position with $260.5 million in cash and marketable securities at year-end. Strategic achievements included completing the HEXO acquisition, acquiring eight craft beer brands from Anheuser-Busch, and achieving $35.4 million in annualized synergies. Management remains focused on expanding its leadership position in cannabis and craft beverages while driving operational efficiencies.

Tilray Brands, Inc. reported financial results for fiscal year 2024, with net revenue increasing 26% to $788.9 million compared to $627.1 million in the prior year. The growth was primarily driven by the beverage alcohol segment which surged 113% to $202.1 million, and cannabis revenue rising 24% to $272.8 million following strategic acquisitions including HEXO and Truss Beverage Co.The company's net loss narrowed significantly to $222.4 million from $1.44 billion in FY2023, primarily due to the absence of non-cash impairment charges. Adjusted EBITDA improved slightly to $60.5 million from $58.7 million. Gross profit increased 52% to $223.4 million, though gross margin declined to 28% from 33% due to product mix changes and price compression in the Canadian cannabis market.The company maintained a strong financial position with $260.5 million in cash and marketable securities at year-end. Strategic achievements included completing the HEXO acquisition, acquiring eight craft beer brands from Anheuser-Busch, and achieving $35.4 million in annualized synergies. Management remains focused on expanding its leadership position in cannabis and craft beverages while driving operational efficiencies.