Tilray Earnings: Doubling Down on Diversification

Dear Client:   It’s no secret that cannabis-turned-global CPG company Tilray Brands has been on a diversification streak, particularly as the U.S. cannabis market has taken longer than expected to become legalized federally.  And during the company’s FY 2024 Q1 call this morning, CEO and chairman Irwin Simon said the strategy has resulted in record Q1 earnings for the company, ended August 31, with “a net revenue of $177 million, representing 15% growth year-over-year.”  And while those record Q1 profits include