TILT Holdings Q3 Revenue Drops 40% YoY Due To Jupiter Hardware Business Challenges
TILT Holdings Inc. (OTCQB:TLLTF) reported Thursday its financial and operating results for the three months ended Sept. 30, 2024, revealing revenue of $27 million, compared to $44.6 million in the prior year period. The Arizona-based cannabis company attributes the decrease in revenue to its Jupiter hardware business and delays in shipping from a primary supplier as well as the temporary transition of certain customers to a commission structure.
“We are underway with a comprehensive strategic review of our plant-touching business,” stated TILT’s chief executive officer Tim Conder. “This process allows us to evaluate a range of potential actions, including divestitures, partnerships, and other strategic alternatives, to align our portfolio better and focus on our opportunity in inhalation technology. We believe that these plant-touching assets hold significant potential value for other operators and could provide us with the additional capital needed to strengthen our balance sheet and expand Jupiter Research.”
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