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Other financials

Income statement

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Revenue$281.7M+25.5%
Gross profit$55.0M+5.7%
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$631.98M-5.3%
Enterprise value$706.72M+4.9%
P/S0.7×-0.1×

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

Reported directly by Tilray Brands, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

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
Selling10,61713,90535,32141,757
Amortization5,10623,18213,39367,913
Marketing and promotion8,6926,79328,82828,079
Research and development6285181250
Change in fair value of contingent consideration(15,000)
Impairment of intangible assets and goodwill699,235699,235
Other than temporary change in fair value of convertible notes receivable20,00020,000
Litigation costs, net of recoveries6212,7582,4975,254

Item 1. Financial Statements (Unaudited).

FAQ

What is Tilray Brands, Inc.'s R&D?
Tilray Brands, Inc. (TLRY) reported R&D of $62K in Q4 2025.
How has Tilray Brands, Inc.'s R&D changed year-over-year?
Tilray Brands, Inc.'s R&D decreased by 27.1% year-over-year, from $85K to $62K.
What is the long-term trend for Tilray Brands, Inc.'s R&D?
Over 2 years (2022 to 2024), Tilray Brands, Inc.'s R&D has grown at a -35.3% compound annual growth rate (CAGR), from $1.52M to $635K.
What does R&D mean?
Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

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