Cannabis operator Tilray trims loss to $46 million in quarter on record sales

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1 year ago

January 9, 2024

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Canadian cannabis producer Tilray Brands trimmed its loss to $46.2 million (61.6 million Canadian dollars) in the second quarter of its 2024 fiscal year on the back of record net sales.

Tilray reported second-quarter revenue of $193.8 million, a 34.4% improvement year-over-year – and in line with analysts’ expectations.

Revenue grew across all of the Leamington, Ontario- and New York-based company’s key operating segments, according to a Tuesday news release.

Cannabis sales in the quarter ended Nov. 30 were $67.1 million, a significant jump from 2023’s same quarter cannabis sales of $49.9 million.

Tilray’s distribution business experienced a revenue jump 12% year-over-year to $67.2 million in the quarter.

The wellness business saw the smallest increase in sales, growing 2.2% year-over-year to $12.9 million

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Ohio House Republicans’ cannabis measure a ‘slap in face,’ NORML says

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2 days ago

March 7, 2025

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Changes to Ohio’s voter-approved adult-use cannabis law proposed in a bill introduced this week by House Republicans are less extreme than those passed by the state Senate.

However, the proposed business restrictions, social equity program elimination, THC potency limits and penalties are still a “slap in the face to the 57 percent of Ohio voters who approved” legalization in November 2023, NORML said in a statement.

House Bill 160, sponsored by Republican state Rep. Brian Stewart, would also restrict the sale of products with hemp-derived THC to licensed marijuana stores and dispensaries, according to the Statehouse News Bureau.

In addition, the bill would:

Cap the number of marijuana stores allowed statewide at 350. Impose a buffer zone of a half-mile between

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Building cannabis brands that reach across markets

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2 days ago

March 7, 2025

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(This is a contributed guest column. To be considered as an MJBizDaily guest columnist, please submit your request here.)

Richard Proud (Courtesy photo)

Consumers can be a perplexing group – and even contradictory – especially in an industry as new and complex as cannabis.

This makes the task of building cannabis brands that resonate across geographical areas a significant challenge.

The best brands find ways to connect, knowing their audience will react to brands that help them feel good about themselves, their community and the decisions they make.

As former Starbucks CEO Howard Shultz said, “If people believe they share values with a company, they will stay loyal to the brand.”

Consumer appeal and connection

For marijuana businesses, consumer nuances pose a unique challenge: How

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From client to co-founder, Storz & Bickel executive on US tour to drum up cannabis business

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6 days ago

March 3, 2025

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Jürgen Bickel is not only the founder and managing director of Storz & Bickel, he’s also a longtime client of the company’s iconic cannabis smoking device.

The medically certified product manufacturer, based in Tuttlingen, Germany, is celebrating the 25th anniversary of its Volcano vaporizer, which has sold hundreds of thousands of units worldwide since its early days on the market when Bickel first tried it as a consumer.

“It’s really for people who are frequently using cannabis,” he told MJBizDaily during a recent interview and product demo at a private cabana at The Woods in West Hollywood, California.

“There’s a lot of patients who really need to use it several times a day.

“They need reliability and reproducibility.”

The Woods, owned by

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