Did Tilray Just Become the Largest Cannabis Company in the EU?!?

Tilray Brands, Inc. (Nasdaq: TLRY) (TSX: TLRY) is a high-profile Canadian Licensed Producer (LP) which is highly focused on the global opportunity.

Although 2022 has been a challenging year for the cannabis consumer packaged goods (CPG) company, the business has been capturing market share in the European Union (EU) and we are bullish on this aspect of the story.

Last week, Tilray enhanced its leverage to the EU and was approved to commercialize its branded medical cannabis product line in Poland. The announcement further expands the company’s product offering and distribution across pharmacies in the EU and we expect the region to account for a larger percentage of revenue in 2023.

Through its Tilray Medical subsidiary, we consider the Canadian LP to be one of the largest providers of EU good manufacturing practices (GMP) certified medical cannabis products. With leverage to 21 countries, we believe that Tilray is well positioned to record incremental revenue growth on the international side of the industry and expect to see significant consumer interest for its comprehensive portfolio of cannabis products.

From Spain to Germany, Tilray is levered to several burgeoning cannabis markets in the EU and we expect Poland to serve as a more significant growth driver for the business in 2023 and beyond. In Poland, Tilray Medical has established multiple partnerships with pharmaceutical companies to distribute both branded and not branded medical cannabis products.

During the last year, the cannabis sector has been under heavy pressure and Tilray was impacted by this (down more than 65% in the last year). We recently noticed a change in the trend as the company has rallied more than 20% in the last month. We attribute the change in sentiment to the introduction of cannabis legislation in the United States (US).

Like most Canadian LPs, Tilray is highly focused on the cannabis opportunity in the US. Once regulations allow the company to capitalize on the US, we expect the company to immediately start to benefit from it and consider this to be the most significant long-term potential catalyst for the business.

If you are interested in learning about Tilray capitalizing on the EU, please send an email to support@technical420.com with the subject “Tilray: A Leading EU Cannabis Operator” to be added to our distribution list.

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Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Technical420.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.

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