This Cannabis Giant Only Generates 35% of Its Revenue From Its Marijuana Products. Here’s Where the Rest Comes From…. is what they say and worth noting the Hexo acquisition to boost the numbers for last year
A breakdown of Tilray’s sales
In January, Tilray Brands posted record revenue of $194 million for the second quarter of fiscal 2024, which ended Nov. 30. And while cannabis is a key part of its operations, the majority of Tilray’s revenue comes from other area of its business.
Here’s a breakdown of Tilray’s segments and their respective revenue growth last quarter:
| Segment | Q2 Fiscal 2024 Revenue | Year-Over-Year Growth |
|---|---|---|
| Cannabis | $67.1 million | 35% |
| Distribution | $67.2 million | 12% |
| Beverage | $46.5 million | 117% |
| Wellness | $12.9 million | 2% |
Data source: Company filings. Table by author.
Cannabis revenue was up an impressive 35% last quarter, but in June of last year, Tilray acquired a key rival, Hexo, which has helped give its revenue a boost from the prior-year numbers.
Tilray’s distribution business involves the purchase and resale of pharmaceutical products. A key part of that business is CC Pharma, a leading pharmaceutical distributor based in Germany that Tilray owns. CC Pharma also distributes medical cannabis, offering Tilray a path to becoming a leading cannabis operator in Europe.
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