Tilray Brands (TLRY) recently reported its first quarter earnings, revealing a narrower-than-expected loss but falling short of revenue estimates. The company posted revenue of $200 million, missing Wall Street's projection of $219.2 million. However, the adjusted earnings per share (EPS) showed a loss of $0.01, below the expected $0.04 loss per share.

Tilray CEO Irwin Simon joins Market Domination to discuss the report and share his outlook on the company.

Simon emphasizes that Tilray approaches its business from an annual perspective rather than focusing on quarterly results. He notes that year-over-year, the company has grown its cannabis business by 13%, emphasizing margin expansion and profitability. Additionally, the beverage business saw growth of over 139%, boosted by a new Molson Coors (TAP) deal.

Simon addresses the discrepancy between analyst expectations and actual results, stating, "Yes, you can look back and say there are analyst expectations out there, but there's seasonality within the business. There's timing on new product rollouts, and we don't run it quarter to quarter. We look at it from a year standpoint, and timing from our expectations and analyst expectations may not always align."

Simon highlights Tilray's strong balance sheet and positive EBITDA, underscoring the company's growth. He points out that Tilray has "44 great brands" and a diverse portfolio spanning recreational and medical cannabis. Beyond cannabis, Tilray has become the fifth-largest craft brewer in the US, maintained a growing alcohol spirits business, and established itself as the No. 1 medical cannabis provider in Europe.

"What Tilray did as a company, we diversified with adjacencies. We're not just a cannabis company today; we are a consumer packaged goods company with great brands in growing categories that we believe can take market share," Simon states.

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This post was written by Angel Smith