TILT Holdings Inc.: Q4 and Full Year 2024 Financial Results
PHOENIX, March 19, 2025 – TILT Holdings Inc. (TILT), a leading provider of innovative cannabis business solutions, reported its financial and operating results for the fourth quarter and full year ended December 31, 2024. All financial information is presented in US dollars and prepared in accordance with US generally accepted accounting principles (GAAP), unless otherwise stated.
Fourth Quarter 2024 Financial Highlights
– Net revenue for Q4 2024 was $112.3 million, representing a 72% increase compared to Q4 2023.
– Gross profit for Q4 2024 was $44.4 million, up 78% from the same period last year.
– Adjusted EBITDA for Q4 2024 was $12.3 million, marking a significant improvement from a loss in the same quarter last year.
Full Year 2024 Financial Highlights
– Net revenue for FY 2024 reached $379.7 million, representing a 58% increase compared to FY 2023.
– Gross profit for FY 2024 was $142.4 million, a 67% increase from the previous year.
– Adjusted EBITDA for FY 2024 was $27.8 million, a substantial improvement from a loss in FY 2023.
Operational Highlights
– TILT’s inhalation technology segment, Jupiter Research, achieved record revenue growth of 117% in Q4 2024, driven by continued market adoption of its innovative vaporizer products.
– The Company’s cultivation and manufacturing segment, Blackbird, reported a significant increase in production volume, which contributed to the overall revenue growth.
– TILT’s retail segment, which includes its dispensary operations, saw revenue growth of 48% in Q4 2024, driven by new store openings and increased sales.
Impact on Consumers
The strong financial performance of TILT Holdings is a positive sign for consumers in the cannabis industry. With increased revenue and profitability, TILT can continue to invest in research and development, expand its product offerings, and improve its customer experience.
- Increased investment in R&D: TILT can dedicate more resources to researching and developing new products and technologies, ensuring that consumers have access to the latest and most innovative cannabis products.
- Expanded product offerings: With improved financial performance, TILT can explore new product categories and expand its range of offerings, providing consumers with more choices.
- Improved customer experience: TILT can invest in enhancing the customer experience, both in-store and online, ensuring that consumers have a positive and convenient shopping experience.
Impact on the World
TILT Holdings’ strong financial performance is not only good news for consumers, but also for the cannabis industry as a whole. As a leading provider of cannabis business solutions, TILT’s success can help drive growth and innovation in the industry.
- Increased competition and innovation: TILT’s financial strength positions it to compete more effectively with other players in the industry, driving innovation and growth.
- Expansion into new markets: With improved financial performance, TILT can explore new markets and geographies, expanding the reach of the cannabis industry and making cannabis products more accessible to a wider audience.
- Positive impact on regulatory environment: TILT’s financial success can help shift the regulatory environment in favor of the cannabis industry, making it easier for businesses to operate and thrive.
Conclusion
TILT Holdings’ strong financial performance in Q4 and FY 2024 is a promising sign for the cannabis industry. With increased revenue, profitability, and operational improvements, TILT is well-positioned to continue driving growth and innovation in the industry. Consumers can look forward to new and innovative products, expanded offerings, and an improved shopping experience. Meanwhile, the world can benefit from a more competitive and innovative industry, increased access to cannabis products, and a more favorable regulatory environment. The future looks bright for TILT Holdings and the cannabis industry as a whole.
For more information about TILT Holdings and its financial results, please refer to the Company’s Form 10-K filing with the Securities and Exchange Commission.
