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TILT Holdings Inc (TSE:TILT)
NEO-L:TILT
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TILT Holdings Inc
(NEO-L:TILT)
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Rating:37Underperform
Price Target:
C$0.50
▼(-13.79% Downside)
TILT Holdings Inc. is facing severe financial difficulties with declining revenues and high leverage, which are the most significant factors impacting the stock score. The technical analysis indicates an overbought condition with no momentum, and the valuation metrics are poor due to negative earnings. These factors collectively result in a low overall stock score.
TILT Holdings Inc (TILT) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$213.77M
Dividend YieldN/A
Average Volume (3M)0.00
Price to Earnings (P/E)―
Beta (1Y)N/A
Revenue Growth-40.23%
EPS Growth-5.31%
CountryCA
Employees292
SectorConsumer Cyclical
Sector Strength84
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.03
Shares Outstanding347,500,580
10 Day Avg. Volume0
30 Day Avg. Volume0
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Sell
Number of Analyst Covering0
TILT Holdings Inc Business Overview & Revenue Model
Company DescriptionTILT Holdings Inc. operates in the cannabis industry in the United States, Canada, Israel, Mexico, South America, and the European Union. It operates through Cannabis, Accessories, and Other segments. The company engages in the production, cultivation, extraction, and sale of cannabis products; manufacture and distribution of electronic and non-nicotine devices and systems; and focuses on greenhouse cultivation and CO2 extraction. It also processes and provides medical cannabis products, including flower, infused products, concentrates, topicals, tinctures, vape cartridges, and syringes. The company is headquartered in Phoenix, Arizona.
How the Company Makes MoneyTILT Holdings generates revenue through several key streams, including the sale of cannabis products from its cultivation and processing operations, which supply both its own retail outlets and third-party dispensaries. Additionally, the company earns income from its ancillary services, which include consulting and technology solutions aimed at optimizing operations for cannabis businesses. Significant partnerships with dispensaries and strategic collaborations within the cannabis ecosystem further enhance TILT's revenue potential, allowing the company to tap into various market segments and expand its customer base.
TILT Holdings Inc Earnings Call Summary
Earnings Call Date:Aug 14, 2025
(Q1-2025)
| Next Earnings Date:Nov 17, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strategic transformations and product innovations that present growth opportunities. However, significant declines in revenue, gross margins, and increased net loss present challenges. The focus on reducing debt and improving cash flow offers some optimism.Q1-2025 Updates
Positive Updates
Strategic Transformation to a Jupiter-First Organization
The company is focusing on transforming into a streamlined Jupiter-first organization, which aims to reduce regulatory complexity, free up working capital, and enhance growth potential.
Definitive Agreement for Asset Sales
TILT signed an agreement to sell two dispensaries in Massachusetts for $2 million, with the proceeds directed towards reducing debt related to Smoore obligations.
Improved Gross Margins in Jupiter Business
Jupiter's gross margin increased by nearly 700 basis points year-over-year due to a new commission-based model, despite lower revenue.
Successful Product Launches
The launch of the 0.5 gram Live Rosin product in Ohio and the QMID handheld liquid vaporizer device, which received EU Medical Device Regulation certification, marks significant product innovation milestones.
Increase in Plant-Touching Business Revenue
The plant-touching businesses saw a quarter-over-quarter revenue increase of 20%, despite challenges in Massachusetts.
Positive Cash Flow from Operations
Cash flow from operations for the first quarter was $1.9 million compared to a cash use of $2.4 million in the year-ago period.
Negative Updates
Decline in Overall Revenue
Revenue in the first quarter was $22.7 million, down from $24.6 million in Q4 and $37.5 million in the year-ago period, primarily due to decreases in Jupiter hardware business.
Lower Gross Margins
Gross margin in Q1 was 15%, down from 22% in Q4 and compared to 18% in the year-ago period, with lower margins in plant-touching operations offsetting improvements in Jupiter.
Increased Net Loss
Net loss in the first quarter was $13.2 million compared to $9.7 million in the year-ago period.
Supply Chain Challenges
Supply chain challenges and tariffs continue to affect operations, leading to customer uncertainties and reduced purchasing.
Decreased Orders Year-Over-Year
While the average order total increased by 35%, the number of orders decreased year-over-year.
Company Guidance
During TILT's First Quarter 2025 Earnings Conference Call, the company outlined several key metrics and strategic initiatives aimed at transforming into a streamlined Jupiter-first organization. TILT reported a revenue of $22.7 million for Q1, down from $24.6 million in Q4 and $37.5 million in the previous year, primarily due to changes in their Jupiter hardware business model. Despite a decrease in revenue, the new commission-based model resulted in improved gross margins, rising by nearly 700 basis points for Jupiter compared to the previous year, though overall gross margin was 15%, down from 22% in Q4. Operating expenses, excluding non-cash adjustments, decreased by 10% to $7.3 million, reflecting cost-reduction efforts. Notably, the company achieved a positive cash flow from operations of $1.9 million, contrasting with a cash use of $508,000 in Q4. TILT is actively divesting plant-touching operations, having signed an agreement to sell two dispensaries in Massachusetts for $2 million, with proceeds directed to reducing debt. The company also highlighted a 20% quarter-over-quarter increase in sales for plant-touching businesses and plans for further product innovations and portfolio diversification to drive future growth.TILT Holdings Inc Financial Statement Overview
Summary
TILT Holdings Inc. faces significant financial challenges with declining revenues, high leverage, and operational losses. The negative growth rate, negative profit margins, and high debt-to-equity ratio indicate financial instability. Despite some improvement in cash flow, the overall financial health is under pressure.Income Statement
TILT Holdings Inc. has experienced declining revenue with a negative growth rate of -15.96% TTM. The company is operating at a loss with a net profit margin of -93.67% and negative EBIT and EBITDA margins, indicating significant operational challenges. The gross profit margin has also decreased over time, reflecting pressure on profitability.35
Negative
Balance Sheet
The balance sheet reveals a concerning negative stockholders' equity and a high debt-to-equity ratio of -1.54 TTM, indicating financial instability and high leverage. The return on equity is positive due to negative equity, but this is not a positive indicator. The equity ratio is negative, highlighting potential solvency issues.30
Negative
Cash Flow
Cash flow analysis shows improvement in free cash flow growth at 129.57% TTM, but the operating cash flow to net income ratio is low at 0.045, indicating weak cash generation relative to net losses. The free cash flow to net income ratio is positive, suggesting some ability to cover losses with free cash flow.40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 84.74M | 115.61M | 165.96M | 174.19M | 202.71M | 158.41M |
| Gross Profit | 14.29M | 20.05M | 18.77M | 38.17M | 58.21M | 58.95M |
| EBITDA | -31.87M | -46.49M | -22.02M | -64.65M | -17.04M | -29.62M |
| Net Income | -79.37M | -99.67M | -62.38M | -107.46M | -45.12M | -52.11M |
Balance Sheet | ||||||
| Total Assets | 138.29M | 151.32M | 231.19M | 293.98M | 415.18M | 429.60M |
| Cash, Cash Equivalents and Short-Term Investments | 772.00K | 3.00M | 2.03M | 2.20M | 6.95M | 7.43M |
| Total Debt | 96.22M | 129.63M | 109.99M | 105.91M | 98.47M | 85.01M |
| Total Liabilities | 200.71M | 188.53M | 168.79M | 172.46M | 181.15M | 146.56M |
| Stockholders Equity | -62.42M | -37.20M | 62.39M | 121.35M | 233.86M | 283.05M |
Cash Flow | ||||||
| Free Cash Flow | 3.08M | -1.08M | 4.65M | -6.53M | -12.29M | 7.75M |
| Operating Cash Flow | 5.61M | -189.00K | 5.37M | 8.61M | -8.82M | 9.65M |
| Investing Cash Flow | -2.37M | -742.00K | 13.17M | -16.84M | 872.00K | -2.52M |
| Financing Cash Flow | -3.02M | 1.91M | -18.69M | 4.78M | 6.02M | -2.91M |
TILT Holdings Inc Risk Analysis
TILT Holdings Inc disclosed 82 risk factors in its most recent earnings report. TILT Holdings Inc reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
TILT Holdings Inc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
| ― | C$300.89M | 74.67 | 1.86% | ― | 38.86% | ― | |
| ― | C$393.48M | ― | -0.70% | ― | 28.42% | 48.33% | |
| ― | C$406.71M | ― | -45.36% | ― | -12.25% | -47.36% | |
| ― | C$227.80M | ― | ― | ― | -21.73% | 4.03% | |
| ― | C$608.85M | ― | -98.42% | ― | -4.24% | 55.82% | |
| ― | C$213.77M | -2.05 | ― | ― | -40.23% | -5.31% |
* Consumer Cyclical Sector Average
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TILT Holdings Inc
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TILT Holdings Inc Corporate Events
Business Operations and StrategyM&A Transactions
TILT Holdings Sells Massachusetts Dispensaries for $1.75M
Neutral
Aug 22, 2025
On August 18, 2025, TILT Holdings Inc. announced the closing of the sale of its two Massachusetts dispensaries to In Good Health, a locally owned cannabis company. This transaction, part of TILT’s strategic alternatives review, involved the operation of the Taunton location by In Good Health and the closure of the Brockton dispensary. The purchase price was adjusted to $1.75 million, and Highgate Capital Partners acted as the broker for this transaction.
The most recent analyst rating on (TSE:TILT) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on TILT Holdings Inc stock, see the TSE:TILT Stock Forecast page.
Business Operations and StrategyFinancial Disclosures
TILT Holdings Inc. Shifts Focus to Asset-Light Model Amid Q2 2025 Results
Neutral
Aug 14, 2025
TILT Holdings Inc. reported its second-quarter 2025 results, highlighting a strategic shift towards an asset-light business model focused on Jupiter, its vaporization hardware platform. The company achieved regulatory approval for a dispensary sale in Massachusetts and is pursuing strategic alternatives for its Ohio and Massachusetts assets, marking a planned exit from plant-touching operations. This transition aims to simplify operations and improve capital efficiency. Despite a decrease in revenue due to a shift to a commission-based model and macroeconomic pressures, the company remains confident in its strategy, focusing on innovation and global market expansion.
Business Operations and StrategyFinancial Disclosures
TILT Holdings Reports Strategic Shift and Q2 2025 Financial Results
Neutral
Aug 14, 2025
TILT Holdings reported its second quarter 2025 results, highlighting a strategic shift towards an asset-light business model centered on its Jupiter segment. The company achieved regulatory milestones and is exiting plant-touching operations in Massachusetts and Ohio, aiming to simplify operations and enhance capital efficiency. Despite a decrease in revenue due to a transition to a commission-based model and supply chain challenges, TILT remains focused on expanding its vaporization hardware offerings globally. The financial results showed a net loss improvement and positive cash flow from continuing operations, reflecting the company’s strategic realignment.
Business Operations and StrategyRegulatory Filings and Compliance
TILT Holdings Inc Subsidiary Signs Management Agreement
Positive
Aug 5, 2025
On July 30, 2025, TILT Holdings Inc.’s subsidiary, Standard Farms, LLC, entered into a Management Services Agreement with MariMed Advisors, Inc. to manage its medical marijuana operations in Pennsylvania. The agreement, effective September 1, 2025, includes comprehensive management services such as budgeting, compliance, and financial planning, with a management fee of 12.5% of gross revenue. This strategic move is expected to enhance operational efficiency and compliance, potentially strengthening TILT’s position in the medical marijuana market.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.