Strategic Transformation Progress
TILT is transforming into a streamlined Jupiter-first organization, focusing on reducing regulatory complexity, freeing up working capital, and enhancing growth potential. The company has been engaged in strategic asset sales and improving cost discipline.
Successful Divestiture in Massachusetts
TILT signed a definitive agreement to sell two dispensaries in Massachusetts for $2 million, with proceeds directed toward reducing Smoore-related obligations, positioning Jupiter for future growth.
Product Innovation and Growth
In Pennsylvania, Live Rosin products saw a month-over-month sales growth of 9.5%. Additionally, TILT launched a new 0.5 gram Live Rosin product in Ohio, representing a new category in cannabis vape.
Major Milestone in EU Certification
The QMID handheld liquid vaporizer device achieved European Union Medical Device Regulation certification, marking it the first handheld vape device to achieve this status.
Improved Cash Flow
Cash flow provided from operations in Q1 was $1.9 million, an improvement compared to cash used in previous quarters.