BrewDog Swings to Profit, as Tilray Prunes Legacy Portfolio

Dear Client: Tilray reported fiscal Q1 earnings Thursday, posting record revenue of $257 million, up 23%, on strength across cannabis, beverage and pharmaceutical distribution. Of course, what we care about most is its beverage ops. For that segment of the operation, Tilray’s segment net revenue jumped 82% year-over-year to $101.5 million in the fiscal first quarter ended Aug. 31, driven by BrewDog, the UK craft brand Tilray pulled out of administration in March (later adding U.S. assets). Segment gross profit