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TILT Holdings Inc (TSE:TILT)
NEO-L:TILT
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TILT Holdings Inc
(NEO-L:TILT)
Rating:42Neutral
Price Target:
C$0.50
▼(-13.79% Downside)
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-35.53%
EPS Growth-54.28%
CountryCA
Employees292
SectorConsumer Cyclical
Sector Strength74
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.05
Shares Outstanding347,439,700
10 Day Avg. Volume0
30 Day Avg. Volume0
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
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 ConsensusN/A
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 Inc. generates revenue through multiple streams. The company earns money primarily from the sale of cannabis products, which it cultivates and manufactures, and from the provision of business solutions to the cannabis industry. This includes inhalation technology products such as vape devices, and software solutions designed to optimize business operations for cannabis companies. Additionally, TILT Holdings benefits from strategic partnerships and acquisitions that enhance its product offerings and expand its market reach. The company's diverse operations within the cannabis supply chain allow it to capitalize on various segments of the market, contributing to its overall earnings.
TILT Holdings Inc Earnings Call Summary
Earnings Call Date:May 15, 2025
(Q1-2025)
| % Change Since: 0.00%|
Next Earnings Date:Aug 18, 2025
Earnings Call Sentiment Neutral
TILT's earnings call presented a mixed picture with significant strategic progress and product innovation, but also highlighted challenges such as decreased revenue and continued supply chain issues. The company's efforts to transform into a Jupiter-first organization are promising, yet financial metrics indicate ongoing struggles.Q1-2025 Updates
Positive Updates
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.
Negative Updates
Decreased Revenue
Revenue in Q1 was $22.7 million, a decrease from $37.5 million in the year-ago period, primarily driven by the Jupiter hardware business and supply chain challenges.
Lower Gross Margin
Gross margin in Q1 was 15%, down from 18% in the year-ago period, despite a 700 basis points increase in Jupiter's gross margin due to a new commission-based structure.
Net Loss and Adjusted EBITDA Decline
Net loss in Q1 was $13.2 million compared to a $9.7 million loss in the year-ago period, and adjusted EBITDA was negative $974,000, reflecting lower revenue and consolidated gross margin.
Continued Supply Chain Challenges
The supply chain continues to face challenges, exacerbated by tariff uncertainties, impacting customer purchasing behavior and leading to a decrease in the number of orders year-over-year.
Company Guidance
During TILT's First Quarter 2025 Earnings Conference Call, the company provided guidance on its strategic transformation into a streamlined Jupiter-first organization. The CEO, Tim Conder, highlighted their focus on reducing regulatory complexity, freeing up working capital, and enhancing growth potential. Key metrics included a 20% quarter-over-quarter sales increase in plant-touching businesses, a 35% increase in average order totals despite a decrease in the number of orders, and a notable 700 basis point rise in Jupiter's gross margin compared to the previous year. The company reported a revenue of $22.7 million, a decrease from $37.5 million in the same period last year, and a gross margin of 15%, down from 22% in the previous quarter. Operating expenses decreased by 10% year-over-year to $7.3 million, with a net loss of $13.2 million. However, cash flow from operations improved, providing $1.9 million in the first quarter. TILT remains focused on exiting plant-touching operations, product innovation, and optimizing its supply chain to drive future growth.TILT Holdings Inc Financial Statement Overview
Summary
TILT Holdings Inc is facing significant financial challenges, with declining revenues, ongoing net losses, and a highly leveraged balance sheet with negative equity. Cash flow generation remains weak, indicating severe solvency and profitability issues.Income Statement
TILT Holdings Inc has faced significant challenges over the past years. The TTM (Trailing-Twelve-Months) data shows declining revenue from the previous annual period, with a steep drop in gross profit margins to 16.59% from past levels. The net profit margin is negative, indicating ongoing net losses, and both EBIT and EBITDA margins are also negative, reflecting significant operating difficulties. Revenue growth has been negative, highlighting a downward trend in sales.30
Negative
Balance Sheet
The balance sheet reveals a concerning financial position with negative stockholders' equity in the TTM, indicating high leverage and potential solvency issues. The debt-to-equity ratio is not calculable due to negative equity, but total liabilities exceed total assets, suggesting financial instability. The equity ratio is negative, further highlighting the company's precarious financial health.20
Very Negative
Cash Flow
The cash flow statement shows some positive movements with a small positive operating cash flow in the TTM. However, free cash flow remains low, and the free cash flow growth rate is not favorable. The operating cash flow to net income ratio is positive, but free cash flow to net income remains low, indicating challenges in generating cash relative to losses.35
Negative
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 115.61M | 165.96M | 174.19M | 202.71M | 158.41M |
| Gross Profit | 20.05M | 18.77M | 38.17M | 58.21M | 58.95M |
| EBITDA | -46.49M | -22.02M | -64.65M | -17.04M | -29.62M |
| Net Income | -99.67M | -62.38M | -107.46M | -45.12M | -52.11M |
Balance Sheet | |||||
| Total Assets | 151.32M | 231.19M | 293.98M | 415.18M | 429.60M |
| Cash, Cash Equivalents and Short-Term Investments | 3.00M | 2.03M | 2.20M | 6.95M | 7.43M |
| Total Debt | 129.63M | 109.99M | 105.91M | 98.47M | 85.01M |
| Total Liabilities | 188.53M | 168.79M | 172.46M | 181.15M | 146.56M |
| Stockholders Equity | -37.20M | 62.39M | 121.35M | 233.86M | 283.05M |
Cash Flow | |||||
| Free Cash Flow | -1.08M | 4.65M | -6.53M | -12.29M | 7.75M |
| Operating Cash Flow | -189.00K | 5.37M | 8.61M | -8.82M | 9.65M |
| Investing Cash Flow | -742.00K | 13.17M | -16.84M | 872.00K | -2.52M |
| Financing Cash Flow | 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
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $16.55B | 10.17 | -9.03% | 3.32% | 1.46% | -22.90% | |
42 Neutral | C$213.77M | ― | -955.11% | ― | -35.53% | -54.28% | |
| ― | $238.45M | ― | -122.10% | ― | ― | ― | |
| ― | $184.17M | 20.29 | 4.76% | ― | ― | ― | |
| ― | $237.74M | 97.05 | -0.70% | ― | ― | ― | |
62 Neutral | C$243.94M | ― | -38.89% | ― | -6.80% | 11.94% | |
| ― | $165.72M | ― | -554.70% | ― | ― | ― |
* Consumer Cyclical Sector Average
Performance Comparison
TSE:TILT
TILT Holdings Inc
0.58
0.00
0.00%
CGC
Canopy Growth
1.05
-5.32
-83.52%
OGI
OrganiGram Holdings
1.41
-0.06
-4.08%
ACB
Aurora Cannabis
4.21
-2.25
-34.83%
TSE:TSND
TerrAscend Corp
0.70
-1.12
-61.54%
CBSTF
Cannabist Company Holdings
0.10
-0.14
-58.33%
TILT Holdings Inc Corporate Events
M&A TransactionsBusiness Operations and StrategyFinancial Disclosures
TILT Holdings Inc. Reports Strategic Shift and Q1 2025 Financial Results
Neutral
May 15, 2025
TILT Holdings Inc. reported its financial results for the first quarter of 2025, highlighting a strategic shift towards a more asset-light operating model by divesting plant-touching assets. This move is expected to enhance the company’s scalability and financial performance. The company achieved a significant milestone with the EU medical device certification for its Jupiter handheld liquid vaporizer, indicating a focus on innovation and improved patient care. Despite a decrease in revenue and a net loss, TILT is making progress in repositioning itself in a challenging market environment, with a focus on sustainable growth and margin improvement.
M&A TransactionsBusiness Operations and StrategyFinancial Disclosures
TILT Holdings Inc. Reshapes Strategy with Focus on Jupiter and Market Expansion
Negative
May 15, 2025
TILT Holdings Inc. reported its first quarter 2025 results, highlighting a strategic shift towards an asset-light, Jupiter-first business model by divesting plant-touching assets. This transition aims to expand market reach and improve financial performance, despite a decrease in revenue and an increased net loss compared to the previous year. The company achieved a significant milestone with the EU certification of its Jupiter QMID vaporizer, enhancing its innovation in medical cannabis delivery.
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.