RE:Tilray Brands - German Cannabis Legalization Update Boris has high hopes for International Operations.
Dont blame him, that's where the growth is now.
TLRY completed the heavy lifting years ago. Tilray Pharma to sweep across European Union. With a far advanced footprint than most.
Boris Jordan: I'll start, and Ed, if you can address on the margin profile. So in Europe, our two main markets, as we said are the U.K. and Germany. We've just added Poland. Poland is ramping up very, very quickly. So we do expect to see further growth in the fourth quarter and the first quarter, it's a 41 million personal market. We expect margins to start to -- first of all, we expect the business to turn EBITDA positive, most likely in the fourth quarter. We also anticipate that with additional sales that we believe will happen in the first quarter with the pillar one German approval, which means basically the cannabis has been taken off the narcotics list. And therefore, we expect demand to increase substantially. We think somewhere around two to three times our current sales rate for next year on the back of that. With that obviously, as we start to lever our assets in Europe, specifically our growth and processing facilities in Portugal and Spain, we do anticipate that margins will improve throughout the year as revenue starts to accelerate in Europe.