Tilray Medical has launched three new medical cannabis flower strains in Italy, marking a notable development in its European operations. Through its subsidiary, FL Group, Tilray has become the first company in Italy to receive official approval from the Ministero della Salute for the import and distribution of its proprietary medical cannabis products.
This move enhances Tilray’s presence in the European market, particularly in Italy, where the demand for medical cannabis is growing. The new strains are expected to cater to patients seeking therapeutic options, reflecting Tilray’s commitment to expanding its product offerings in regulated markets.
In financial news, Wall Street analysts project an average target price of $1.30 for Tilray Brands Inc (TLRY), with estimates ranging from a low of $0.60 to a high of $2.50. This average suggests a potential upside of 261.44% from the current stock price of $0.36.
The consensus recommendation from 11 brokerage firms indicates a ‘Hold’ status for Tilray Brands Inc, with an average rating of 2.6, where 1 is a Strong Buy and 5 signifies Sell. GuruFocus estimates the fair value of Tilray’s stock at $1.92, suggesting a possible increase of 432.59% from the current price.
In its latest earnings report, Tilray reported net revenue of $185.8 million for the third quarter, slightly down from $188.3 million in the previous year. The adjusted net revenue was $206 million, excluding strategic decisions that affected revenue.
The company also noted a gross margin increase of 200 basis points to 28%. However, it faced a net loss of $793.5 million, primarily due to a $700 million noncash impairment related to macroeconomic conditions. Adjusted EBITDA reached $9 million, down from $10.2 million in the prior year’s quarter.
Tilray’s cannabis segment generated $54.3 million in net revenue, while the beverage segment contributed $55.9 million. The wellness and distribution segments reported revenues of $14.1 million and $61.5 million respectively, with the latter showing an 8% increase from the previous year.
Looking ahead, Tilray has revised its fiscal 2025 net revenue guidance to between $850 million and $900 million. The company is also working on cost-saving initiatives, aiming for $33 million in savings through its Project 420, of which $20.6 million has been realized.
Overall, while Tilray is expanding its product offerings in Italy, it faces challenges in the North American market due to regulatory constraints and competition. The launch of new medical cannabis strains represents a strategic effort to strengthen its foothold in Europe and meet the needs of patients seeking medical cannabis treatments.
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