Tilray Brands Reports $206.7 Million Revenue with 11% Year-Over-Year Growth

Tilray Brands, Inc. reported a net revenue of $206.7 million for the fiscal quarter ending February 28, 2026, marking an 11% increase from $185.8 million in the same period last year. For the nine months ending February 28, 2026, the company achieved a total revenue of $633.7 million, a 6% rise from $596.8 million in the prior year. Despite the revenue growth, Tilray experienced a net loss of $25.2 million for the quarter, significantly improved from a loss of $793.5 million in the previous year, and a net loss of $67.2 million for the nine months, down from $913.5 million.

The company’s financial performance was bolstered by a 19% increase in cannabis revenue, which reached $64.8 million for the quarter, driven by growth in both the Canadian adult-use and international markets. The distribution segment also saw a notable increase, with revenue rising 35% to $83.0 million. However, the beverage segment faced challenges, with revenue declining 24% to $42.6 million due to industry-wide pressures and margin-focused actions that reduced net revenue.

In terms of strategic developments, Tilray completed several acquisitions, including the Craft Acquisition II in September 2024, which contributed to its beverage segment. The company also announced subsequent acquisitions of BrewDog assets in March 2026, including breweries and brewpubs in the UK and the U.S., aimed at expanding its beverage platform internationally. These acquisitions are part of Tilray's strategy to enhance its brand portfolio and market presence.

Operationally, Tilray reported a total employee headcount of 1,500 as of February 28, 2026, reflecting a focus on optimizing its workforce in line with its strategic initiatives. The company also noted a significant reduction in operating expenses, which fell to $81.3 million from $811.9 million in the prior year, primarily due to the absence of non-cash impairment charges that had impacted the previous fiscal year. The company’s cash and cash equivalents, along with marketable securities, totaled $264.8 million, providing a solid liquidity position for future investments.

Looking ahead, Tilray remains optimistic about its growth trajectory, particularly in the cannabis and beverage sectors. The company plans to continue leveraging its acquisitions to drive revenue and profitability while navigating the evolving regulatory landscape in the cannabis market. Management emphasized the importance of maintaining a strong financial position and is focused on achieving operational efficiencies to support long-term growth.