Tilray: Never Great Under The Surface

Summary:

  • Tilray reported strong revenue growth in FQ4, but most of it was not organic, mainly driven by acquisitions in the Beverage Alcohol sector.
  • Despite acquisitions, non-beverage segments saw a decline in non-wholesale sales, raising concerns about the company’s ability to manage a far-flung business effectively.
  • The company forecast limited organic growth for Tilray in FY25, making TLRY stock expensive, trading at 17x adjusted EBITDA and a history of missing financial targets.

Young wasted men fell asleep on a bar counter in a pub.

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Tilray Brands Overview

Tilray Brands (NASDAQ:TLRY) constantly reports quarterly earnings where the Canadian cannabis provider appears to be reporting strong growth, but most of the growth isn’t organic. In addition, the company has now moved substantially away


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