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
$210.9M
Gross Profit
$61.2M
Operating Profit
$-42.2M
Net Profit
$-85.3M
Gross Margin
29.0%
Operating Margin
-20.0%
Net Margin
-40.5%
YoY Growth
8.9%
EPS
$-0.99
Tilray Brands, Inc. Q2 FY2025 Financial Summary
Tilray Brands, Inc. reported revenue of $210.9M (up 8.9% YoY) for Q2 FY2025, with a net profit of $-85.3M (down 74.1% YoY) (-40.5% margin). Cost of goods sold was $149.7M, operating expenses totaled $103.4M.
Key Financial Metrics
| Total Revenue | $210.9M |
|---|---|
| Net Profit | $-85.3M |
| Gross Margin | 29.0% |
| Operating Margin | -20.0% |
| Report Period | Q2 FY2025 |
Revenue Breakdown
Tilray Brands, Inc. Q2 FY2025 revenue of $210.9M breaks down across 5 segments, led by Other at $73.7M (34.9% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Other | $73.7M | 34.9% |
| Adultuse Cannabis Products | $59.1M | 28.0% |
| CA | $56.7M | 26.9% |
| International Cannabis Products | $14.9M | 7.0% |
| Wholesale Cannabis Products | $6.6M | 3.1% |
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 Other and Adultuse Cannabis Products) has evolved quarter over quarter.
| Segment | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 |
|---|---|---|---|---|
| Other | $59.2M | — | — | $66.9M |
| Adultuse Cannabis Products | $62.4M | $52.6M | — | $49.3M |
| CA | — | — | — | $45.9M |
| International Cannabis Products | $20.2M | $24.1M | $20.3M | $13.9M |
| Wholesale Cannabis Products | $1.3M | $1.2M | — | $3.9M |
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 |