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Segments

By segment

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Cannabis$31.71M+7.0%
Beverage Alcohol Business$19.94M
Distribution Business$11.66M+56.8%
Wellness Business$6.55M+17.5%

Other financials

Income statement

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Revenue$281.7M+25.5%
Operating income-$26.4M+96.5%
Net income-$37.9M+97.0%
EPS (diluted)-$0.24+97.2%

Balance sheet

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Cash & equivalents$226.0M+1.9%
Total debt$300.7M+32.2%
Total equity$1.6B+6.8%
Total assets$2.3B+12.2%

Cash flow

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Operating cash flow-$37.3M-191%
CapEx$6.3M-34.8%
Free cash flow-$19.1M

Valuation

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Market cap$622.45M-38.4%
Enterprise value$697.19M-31.4%
P/S0.7×-0.6×

Profitability

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Gross margin30.9%+2.9pp
Operating margin-103.5%-198pp
Net margin-12%-5.9pp
FCF margin-15.5%

Returns & leverage

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Return on equity-7%-3.4pp
Debt / equity0.2×0.0×
Current ratio2.2×-0.2×

Where this comes from

Calculated from Tilray Brands, Inc.’s reported figures.

The source filing: Tilray Brands, Inc.’s 10-Q, filed April 1, 2026.

Filed
Apr 1, 2026, 4:30 PM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q1 2026
Accession
0001437749-26-010907
Line itemThree months ended / February 28, 2026Three months ended / February 28, 2025Nine months ended / February 28, 2026Nine months ended / February 28, 2025
Net revenue$206,732$185,780$633,740$596,774
Cost of goods sold151,778133,769463,820423,837
Gross profit54,95452,011169,920172,937
Operating expenses:
General and administrative50,22839,246142,456129,356
Selling10,61713,90535,32141,757
Amortization5,10623,18213,39367,913
Marketing and promotion8,6926,79328,82828,079

Item 1. Financial Statements (Unaudited).

FAQ

What is Tilray Brands, Inc.'s gross profit?
Tilray Brands, Inc. (TLRY) reported gross profit of $54.95M in Q4 2025.
How has Tilray Brands, Inc.'s gross profit changed year-over-year?
Tilray Brands, Inc.'s gross profit increased by 5.7% year-over-year, from $52.01M to $54.95M.
What is the long-term trend for Tilray Brands, Inc.'s gross profit?
Over 2 years (2022 to 2024), Tilray Brands, Inc.'s gross profit has grown at a 34.5% compound annual growth rate (CAGR), from $123.55M to $223.35M.
What does gross profit mean?
Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.

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