NEW YORK - Tilray (NASDAQ:TLRY) Brands, Inc. (NASDAQ:TLRY; TSX:TLRY), a global lifestyle and consumer packaged goods company, has launched a series of fall-themed craft beers and beverages. The new seasonal products are being introduced across its portfolio, which includes Breckenridge Brewery, Montauk Brewing, Blue Point Brewing, Terrapin, and Shock Top.
The new offerings aim to capture the essence of autumn, featuring traditional fall flavors such as pumpkin, spices, and even the taste of pretzels. The lineup includes Shock Top's Twisted Pretzel with a 5% alcohol by volume (ABV), which combines the taste of beer with bakery-fresh pretzels, and Breckenridge Brewery's Oktoberfest, a 6% ABV German Amber Lager described as smooth with bready aromas and a clean finish.
Montauk Brewing offers a Pumpkin Ale at 5.7% ABV, which includes a blend of warming spices and subtle hop aromas, while Blue Point Brewing's Mother Pumpkin Ale at 5.5% ABV features fall flavors like cinnamon and nutmeg. Additionally, Terrapin Beer is set to launch Sweater Weather, a Winter Warmer with 6.8% ABV, next month, promising flavors of gingerbread, toasted caramel, and roasted chestnuts.
Prinz Pinakatt, Chief Marketing Officer at Tilray Beverages, expressed enthusiasm for engaging consumers with these premium seasonal brews, emphasizing the careful crafting to reflect the season's spirit.
Tilray Brands is known for its diverse portfolio, which includes cannabis offerings, hemp-based foods, and craft beverages. The company operates in various countries, including Canada, the United States, Europe, Australia, and Latin America, with a mission to inspire joy and create memorable experiences through its products.
The announcement of the fall-themed beverages is based on a press release statement by Tilray Brands, Inc. The company encourages consumers of legal drinking age to enjoy their products responsibly.
In other recent news, Tilray Brands reported a record net revenue of $200 million for the first quarter, marking a 13% year-over-year increase. The company's beverage division, which includes craft beer and new non-alcoholic drinks, saw a significant 132% growth in net revenue. The gross profit rose 35% to $59.7 million, with a gross margin of 30%, and the net loss improved by 38% to $34.7 million.
The company is projecting fiscal year 2025 revenue of $950 million to $1 billion and is planning to expand its Delta-9 THC beverage offerings across 19 states. Despite a slight decline in beverage sales and some distribution net revenue affected by foreign exchange, Tilray remains the leading cannabis business in Canada and the fifth-largest craft beer producer in the U.S.
Tilray has recently launched Tilray Alternative Beverages, targeting a $2.8 billion market, and holds a 45% market share in the Canadian cannabis beverage category. The company also received the first commercial cannabis cultivation and distribution licenses in Germany, anticipating significant growth in its international cannabis business. These recent developments highlight Tilray's continued commitment to growth and innovation across its product lines.
InvestingPro Insights
As Tilray Brands, Inc. (NASDAQ:TLRY) rolls out its fall-themed craft beers and beverages, investors might be interested in some key financial insights. According to InvestingPro data, Tilray's revenue growth has been robust, with a 24.76% increase over the last twelve months as of Q1 2023, reaching $812.04 million. This aligns with the company's strategy to diversify its product portfolio and capture seasonal consumer trends.
InvestingPro Tips highlight that analysts anticipate sales growth in the current year, which could be partly driven by these new seasonal offerings. Additionally, the company's liquid assets exceed short-term obligations, suggesting a solid financial position to support its product innovation and market expansion efforts.
However, investors should note that Tilray operates with a moderate level of debt and was not profitable over the last twelve months. The stock's price movements are quite volatile, which could be influenced by factors such as market reception to new product launches and overall industry trends.
For those seeking a more comprehensive analysis, InvestingPro offers 10 additional tips for Tilray, providing deeper insights into the company's financial health and market position.
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