TLRY
Tilray Brands, Inc.13.94
+3.01+27.5%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q3 '26
Q&A adds supply, cost details
Q&A reinforced prepared remarks on international cannabis strength, stressing supply consistency from Portugal yields and new Masson capacity ramp to 200 metric tonnes, enabling Tilray to handle price compression better than peers. Beverage details emerged on hedging 65-75% aluminum exposure and scale synergies from Carlsberg/BrewDog for hops and cans, with margins at their trough. Tilray Pharma growth spotlighted top 50 high-velocity SKUs, medical cannabis push, and 20+ German medical reps plus CC Pharma's 16,000-pharmacy reach. Shelf resets mixed amid craft shifts. Management dodged growth run-rates. Confident tone; watch Europe volumes, beer integration.
Key Stats
Market Cap
1.62BP/E (TTM)
-Basic EPS (TTM)
-24.20Dividend Yield
0%Recent Filings
8-K
Tilray acquires BrewDog assets
Tilray Brands snapped up BrewDog's UK brewery, online and retail ops, 11 strategic brewpubs, and global IP for £33 million via pre-pack admin on March 2, 2026. Assets should deliver ~$200M annual net revenue and $6-8M adjusted EBITDA in FY2027, fueling a ~$500M craft beer platform. No immediate FY2026 EBITDA lift due to licensing delays.
10-Q
Q2 FY2026 results
Tilray Brands posted Q2 FY2026 net revenue of $217.5M, up 3% y/y yet flat q/q (derived), driven by 26% distribution growth and 3% cannabis gains from international medical demand, while beverages dipped 21% on Project 420 SKU cuts. Gross profit slipped to $57.5M (26% margin from 29%) as beverage margins compressed to 31%; operating loss narrowed to $22.3M from $42.2M via 81% lower amortization and slashed restructuring. Net loss of $43.5M ($0.41/share) beat prior-year $85.3M ($0.99/share), confirmed vs 110M diluted shares; non-op losses swung milder at $12.3M, mainly FX. Cash hit $246.7M plus $44.8M marketable securities; long-term debt $138.7M, convertibles $86.3M (post-repurchase); op cash used $9.9M YTD, no FCF disclosed. Fort Collins warehouse sold post-period. Regulatory shifts shadow U.S. cannabis entry.
8-K
Record $218M Q2 revenue
Tilray Brands posted record Q2 fiscal 2026 net revenue of $218 million, up 3% year-over-year, driven by 36% international medical cannabis growth and record Tilray Pharma distribution at $85 million. Net loss narrowed to $44 million from $85 million, while flipping to $27 million net cash position. Distribution surged. FY26 Adjusted EBITDA guidance holds at $62-$72 million.
8-K
1-for-10 reverse split set
Tilray Brands approved a 1-for-10 reverse stock split, effective December 1, 2025, slashing shares from 1.16 billion to 116 million. It aims to align with peers, lure institutions, and save up to $1 million annually on stockholder meeting costs. Ownership stays intact, bar fractional cash-outs. Trading resumes adjusted on December 2.
8-K
Annual meeting results mixed
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