Tilray sees better days for cannabis amid U.S. presidential race

The upcoming U.S. presidential elections will likely bring about positive changes for the cannabis industry, Irwin Simon, CEO and Chairman of Canadian Licensed Producer Tilray Brands (NASDAQ:TLRY), said Thursday.

His remarks coincided with Tilray’s (TLRY) Q1 financials for fiscal 2025, which exceeded Wall Street’s expectations for earnings but missed on revenue.

With both U.S. presidential hopefuls Donald Trump and Kamala Harris pledging support for cannabis reforms, an ongoing review for rescheduling marijuana as a less dangerous compound has gained significance.

“We believe that there is a greater likelihood that the upcoming U.S. presidential elections will result in improved regulatory changes in the cannabis industry, as both candidates have publicly confirmed their support for further legalization,” Simon said.

“We are optimistic about the future of the cannabis industry and look forward to the potential opportunities that lie ahead,” he added.

Meanwhile, Tilray’s (TLRY) Q1 financial figures indicated $200M in net revenue, implying ~ a 13% YoY rise, thanks mainly to the company’s beverage alcohol business, which added $56.0M recording a twofold rise from the year-ago quarter.

However, TLRY’s cannabis and distribution segments contracted, bringing in $61.2M and $68.0M in net revenue and implying a ~13% YoY and ~2% drop, respectively.

However, the company’s net loss fell ~38% YoY to $34.7M as its gross margin improved to 30% compared to 25% in the prior-year quarter.