Tilray Brands, Inc.TLRYEarnings & Financial Report
Tilray Brands, Inc. is an American pharmaceutical, cannabis-lifestyle and consumer packaged goods company, incorporated in the United States, headquartered in New York City. Tilray also has operations in Canada, Australia, New Zealand, and Latin America, with growing facilities in Germany and Portugal.
Revenue
$229.9M
Gross Profit
$82.3M
Operating Profit
$-16.5M
Net Profit
$-31.7M
Gross Margin
35.8%
Operating Margin
-7.2%
Net Margin
-13.8%
YoY Growth
24.8%
EPS
$-0.04
Tilray Brands, Inc. Q4 FY2024 Financial Summary
Tilray Brands, Inc. reported revenue of $229.9M (up 24.8% YoY) for Q4 FY2024, with a net profit of $-31.7M (up 77.1% YoY) (-13.8% margin). Cost of goods sold was $147.5M, operating expenses totaled $98.9M.
Key Financial Metrics
| Total Revenue | $229.9M |
|---|---|
| Net Profit | $-31.7M |
| Gross Margin | 35.8% |
| Operating Margin | -7.2% |
| Report Period | Q4 FY2024 |
Revenue Breakdown
Tilray Brands, Inc. Q4 FY2024 revenue of $229.9M breaks down across 6 segments, led by Cannabis Segment at $94.0M (40.9% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Cannabis Segment | $94.0M | 40.9% |
| Beverage Alcohol Business | $80.4M | 35.0% |
| Other | $20.3M | 8.8% |
| Wellness Business | $15.7M | 6.8% |
| International Cannabis Products | $13.1M | 5.7% |
| Medical Cannabis Products | $6.4M | 2.8% |
Tilray Brands, Inc. Revenue by Segment — Quarterly Trend
Tilray Brands, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Cannabis Segment and Beverage Alcohol Business) has evolved quarter over quarter.
| Segment | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 |
|---|---|---|---|---|
| Beverage Alcohol Business | $53.6M | $44.5M | $106.8M | — |
| Other | $59.2M | — | — | $66.9M |
| Wellness Business | $14.6M | — | $18.5M | — |
| International Cannabis Products | $20.2M | $24.1M | $20.3M | $13.9M |
Tilray Brands, Inc. Annual Revenue by Year
Tilray Brands, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $821.3M).
| Year | Annual Revenue |
|---|---|
| 2025 | $821.3M |
| 2024 | $788.9M |
| 2023 | $627.1M |
| 2022 | $628.4M |
Tilray Brands, Inc. Quarterly Revenue & Net Profit History
Tilray Brands, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q2 FY2026 | $217.5M | +3.1% | $-44.9M | -20.7% |
| Q1 FY2026 | $209.5M | +4.7% | $-322.0K | -0.2% |
| Q4 FY2025 | $224.5M | -2.3% | $-1.3B | -566.9% |
| Q3 FY2025 | $185.8M | -1.4% | $-789.4M | -424.9% |
| Q2 FY2025 | $210.9M | +8.9% | $-85.3M | -40.5% |
| Q1 FY2025 | $200.0M | +13.1% | $-39.2M | -19.6% |
| Q4 FY2024 | $229.9M | +24.8% | $-31.7M | -13.8% |
| Q3 FY2024 | $188.3M | +29.4% | $-92.7M | -49.2% |
Income Statement
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $188.3M | $229.9M | $200.0M | $210.9M | $185.8M | $224.5M | $209.5M | $217.5M |
| YoY Growth | 29.4% | 24.8% | 13.1% | 8.9% | -1.4% | -2.3% | 4.7% | 3.1% |
Balance Sheet
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $4.21B | $4.22B | $4.26B | $4.19B | N/A | $2.07B | $2.08B | $2.10B |
| Liabilities | $869.8M | $778.5M | $778.5M | $738.1M | N/A | $584.8M | $562.0M | $552.1M |
| Equity | $3.36B | $3.44B | $3.48B | $3.47B | $2.70B | $1.51B | $1.54B | $1.58B |
Cash Flow
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-15.4M | $30.7M | $-35.3M | $-40.7M | $-5.8M | $-12.8M | $-1.3M | $-8.5M |