secwatch.observer — SEC 8-K summary
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Issuer:     TILT Holdings Inc. (—)
CIK:        0001761510
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0001171843-24-002912
Event type: earnings
Sentiment:  negative
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TILT Holdings Q1 2024 revenue $37.5M, net loss widens to $9.7M
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- Revenue $37.5M vs $42.3M a year ago; down 11% on lower sales and price compression in MA, PA and Jupiter hardware.
- Net loss $9.7M vs $4.9M; driven by lower gross profit and absence of $8.4M gain on asset sales from Q1 2023.
- Adjusted EBITDA (non-GAAP) improved to $38,000 from a loss of $79,000 in prior year.
- Cash and restricted cash $3.5M at quarter end; notes payable net of discount $59.7M.
- Launched Level pressed-tablet brand in PA; Standard Farms won NECANN Cup best vape cartridge for third year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1761510/000117184324002912/0001171843-24-002912-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1761510/000117184324002912/f8k_051524.htm
  HTML page:      https://secwatch.observer/filing/0001171843-24-002912

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer