Tilray Expands Good Supply With More High-Potency StrainsNovember 1, 2022
Tilray is extending its Good Supply cannabis brand with new high-potency strains in the Canadian market. The newcomers include Granddaddy Purps, an indica strain, debuting in 3.5g and 28g formats; Sour Diesel #2, a sativa dominant strain rolling out in 28g format; and Frost Monster, an indica dominant offering also launching in 28g packages. Additionally, Tilray has expanded its Monkey Butter and Sweet Berry Kush strains into coast-to-coast distribution in Canada.
Tilray saw sales decline 9% to $153 million year-on-year in its fiscal first quarter ended in August, held back by disruptions in the Canadian market including strikes in British Columbia and Quebec as well as a cyberattack on Ontario’s wholesale and retail cannabis platform. Still, net cannabis revenue was up 10% sequentially to $59 million, and the company posted adjusted EBITDA of $13.5 million for the quarter.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning. You will also receive the Cannabis edition as part of your subscription.