Tilray Brands Reports $821.3 Million Revenue with Significant Net Loss for Fiscal Year Ending May 31, 2025

Tilray Brands, Inc. reported a total net revenue of $821.3 million for the fiscal year ending May 31, 2025, marking a 4% increase from $788.9 million in the previous year. The company's gross profit also rose to $240.6 million, up from $223.4 million, resulting in a gross margin of 29%. However, Tilray experienced a significant net loss of $2.2 billion, compared to a loss of $222.4 million in the prior year, largely due to non-cash impairment charges totaling $2.1 billion related to goodwill and intangible assets. This impairment was attributed to a decline in the company's market capitalization and challenges in the cannabis and beverage sectors.

In terms of operational performance, the beverage segment saw a revenue increase of 19% to $240.6 million, driven by new product innovations and acquisitions, including Craft Acquisition I and II, which added several craft beer brands to its portfolio. Conversely, the cannabis segment reported a decline in revenue to $249 million, down 9% from the previous year, primarily due to a strategic shift to maintain higher margins and redirect inventory to international markets. The distribution segment also grew, with revenues increasing by 5% to $271.2 million, while the wellness segment reported a 9% increase in revenue to $60.5 million.

Tilray's strategic developments included the acquisition of four craft beer brands from Molson Coors Beverage Company, which is expected to enhance its beverage portfolio and market presence. The company also focused on integrating its recent acquisitions and optimizing its operations through Project 420, which aims to streamline its product offerings and improve profitability. As of May 31, 2025, Tilray employed approximately 2,842 individuals, reflecting its ongoing commitment to expanding its workforce in line with its growth strategy.

Looking ahead, Tilray anticipates continued challenges in the cannabis market, including price compression and competition from the illicit market. The company is focused on enhancing its international operations, particularly in Germany, where it holds a leading position in the medical cannabis market. Additionally, Tilray is exploring opportunities in the hemp-derived product category and aims to leverage its established brands to capture market share in the evolving cannabis landscape. The company remains committed to maintaining a strong financial position while navigating the complexities of the regulatory environment and market dynamics.