TLLTF TILT Holdings Inc.

Overview and Growth

Fiscal 2024 results for TILT Holdings Inc. combined $115.61M of revenue with net loss of $99.67M and an operating cash outflow of $189.00K. At $115.61M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line contracted 30.3% from $165.96M in fiscal 2023; this top-line contraction left the company with a smaller revenue base. The company reported diluted EPS of -$0.26, adding a shareholder-level measure to the absolute income figures considered below. At period end, total assets were $151.32M, framing the scale of the company’s operating and financing commitments. Asset turnover was 0.76x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The first profit layer was $20.05M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 17.3%, so that share of each revenue unit remained after the cost of revenue reported for the period. The reported operating result was an operating loss of $69.43M, reflecting costs that exceeded gross profit. Relative to revenue, the operating deficit measured 60.1%, showing the shortfall after operating costs. The bottom-line result was a net loss of $99.67M after operating, financing, tax, and other recognized items. The net loss equaled 86.2% of revenue, showing the bottom-line deficit relative to the company’s sales base. Negative EBITDA totaled $53.99M, confirming that the earnings deficit remained before depreciation and amortization. The company reported a pretax loss of $94.94M, before the effect of income taxes. The pretax loss equaled 82.1% of revenue, measuring the pre-tax deficit against sales. The company recognized $4.72M of income tax for the period, completing the transition from pretax income to net income. Relative to total assets, the net loss represented 65.9%. The bottom-line deficit increased from $62.38M in fiscal 2023 to $99.67M.

Liquidity and Capital Structure

The company held $151.32M of assets against $188.53M of liabilities and -$37.20M of equity, revealing how the asset base was financed. With total equity at -$37.20M, the company carried a negative book-capital position, increasing its reliance on liabilities and future earnings. At period end, current assets of $40.85M compared with current liabilities of $87.45M, defining the company’s short-term resource position. The current ratio was 0.47x; current liabilities exceeded current assets, leaving a short-term liquidity deficit. Cash and equivalents totaled $4.30M, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 4.9%, excluding receivables and other current assets. Book equity represented -24.6% of total assets, quantifying the balance-sheet share supported by shareholder capital. The liabilities-to-assets relationship was 124.6%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 2.8%, comparing reported cash and equivalents with the full positive asset balance. Compared with $231.19M in fiscal 2023, the current asset base moved 34.5% and finished lower. Against $62.39M of equity in fiscal 2023, the current book-equity balance moved 159.6% and ended lower. Compared with $3.33M in fiscal 2023, the current cash balance moved 29.1% and finished higher.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $189.00K, rather than cash generation from operations. Capital expenditures used $892.00K in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. Operating cash flow and capital spending combined to leave a $1.08M cash deficit after capital spending. Relative to revenue, the post-investment cash deficit represented 0.9%. Relative to total assets, the post-investment cash deficit measured 0.7%.

Based on the annual report for the fiscal year ending Dec 31, 2024. Analysis generated Oct 21, 2026.