The following is a summary of the TILT Holdings Inc. (TLLTF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Revenue for Q3 was $27 million, a decrease from $44.6 million year-over-year.

• Gross margin for Q3 stood at 14%, down from 18% in the same period last year.

• Operating expenses decreased by 15% year-over-year due to cost reduction initiatives.

• Net loss for the quarter was $12.6 million, compared to $8.7 million in the year-ago period.

Business Progress:

• TILT Holdings is exploring strategic alternatives for its plant-touching assets to focus more on Jupiter Research.

• Implemented an asset-light model for Jupiter, enhancing operational efficiency and financial flexibility.

• Expanded solventless product offerings and achieved growth in wholesale sales velocity in Massachusetts and Pennsylvania.

Opportunities:

• Potential divestitures of plant-touching assets to better position balance sheet and reduce operational expenses.

• Continued growth and expansion opportunities for Jupiter with new leadership and organizational enhancements to strengthen customer relationships and market share.

• Opportunities to capture growth in Europe with developments in medical inhalation devices, Liquid Medical and Que Medical.

Risks:

• Plant-touching business faces challenges such as competitive pricing, market saturation, and regulatory limitations, impacting growth and revenue.

• Jupiter's revenue decline due to supplier issues and direct invoicing model transition.

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