Tilray Brands, Inc.

TLRY

$4.50

-0.66%

2026-09-04 12:08:39 EDT-$0.03

Healthcare

Drug Manufacturers - Specialty & Generic

NASDAQ

Active Trading

Tilray Brands, Inc. is a diversified global consumer packaged goods company primarily involved in the cultivation, processing, marketing, and sale of cannabis ...

Price Action of TLRY

$4.50

-0.66%-$0.03

High—

Low—

52W High-80.6%

Rel. vol—

Interval

Range2.6h

Volume—SMA5SMA10

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Tilray Brands, Inc. (NASDAQ: TLRY) is a global consumer products company with operations spanning cannabis and adjacent consumer categories. The company primarily focuses on the cultivation, processing, marketing, and sale of cannabis products, distributing regulated medical and adult-use offerings such as GMP-certified cannabis flower, oils, vaporizers, edibles, and topical products. ...Tilray Brands, Inc. (NASDAQ: TLRY) is a global consumer products company with operations spanning cannabis and adjacent consumer categories. The company primarily focuses on the cultivation, processing, marketing, and sale of cannabis products, distributing regulated medical and adult-use offerings such as GMP-certified cannabis flower, oils, vaporizers, edibles, and topical products. Beyond cannabis, Tilray participates in complementary wellness and consumer brand activities, including hemp-derived food and other wellness items, as well as beverage alcohol products. Business model and segments: Tilray organizes its operations across four divisions: (1) Cannabis, (2) Distribution, (3) Beverage Alcohol, and (4) Wellness. In the Cannabis division, Tilray serves a wide range of customers including retail outlets, wholesale partners, medical patients and healthcare practitioners, hospitals and pharmacies, scientific researchers, governmental bodies, and direct-to-consumer channels. In addition, the company leverages its Distribution footprint to move products through established channels. In Beverage Alcohol, Tilray manufactures, promotes, and distributes alcoholic beverages through recognized brands, and in Wellness it offers hemp-derived and other wellness-oriented consumer products. Geographic footprint: The company’s operations cover Canada, the United States, Europe, Australia, New Zealand, and Latin America, which supports brand distribution and category expansion across different regulatory and consumer environments. Scale and costs/operations (high level): With thousands of employees worldwide (reported full-time employees around 3,595), Tilray operates capital-intensive manufacturing and cultivation activities typical of regulated cannabis and beverage production. Its financial snapshot indicates market scale (market capitalization roughly $541M in the provided data; enterprise value about $714M) and relatively low or negative profitability measures in the most recent trailing-twelve-month snapshot (e.g., negative net profit margin and negative operating/EBIT margins). The company also shows inventory and working-capital dynamics consistent with large product portfolios and multi-channel distribution, with liquidity metrics such as a current ratio above 2.0 in the provided snapshot. Leadership and key people: The CEO is Irwin Simon (also serving as Chairman). Tilray’s leadership emphasizes scaling product offerings and maintaining a diversified portfolio across cannabis, beverage alcohol, and wellness—aiming to smooth category-specific volatility and leverage brand equity. Wishes and priorities (typical strategic direction): In line with its positioning as a global cannabis-and-wellness leader, Tilray’s ongoing objectives generally include expanding branded product demand, improving profitability and cash generation over time, optimizing manufacturing and distribution efficiencies, and strengthening performance across its cannabis and non-cannabis consumer categories. However, any forward-looking outcomes depend on regulatory developments, competitive dynamics, and execution on cost and margin discipline.ExpandCollapse

Founded

2013

Employees

3595

CEO

Irwin David Simon

Full Name

Tilray Brands, Inc.

Sector

Healthcare

Industry

Drug Manufacturers - Specialty & Generic

ROE

-7.95%

Market Cap

$0.62B

Current Ratio

2.21

WACC

10.91%

ROIC

-4.15%

Contact Information

https://www.tilray.com

12064329325

265 Talbot Street West, Leamington, ON N8H 5L4

Key Metrics of TLRY

Snapshot

Latest / TTM · 6 periods

Market Cap

$619.11M

ROCE

-3.0%

EV / EBITDA

41.71x

+0.2% YoY

FCF Yield

-22.6%

-6.0% YoY

Cash Conversion Cycle

52.4d

Current Ratio

2.21

Quick take

TTM —

Positive CCC

Financial Highlights of TLRY

Profitability trend

Latest / TTM · 6 periods

Gross Margin

27.6%

Net Margin

-12.9%

P/E Ratio

-3.38x

n/a

Debt / Equity

0.25

n/a

Current Ratio

2.21

Dividend Yield

0.0%

Understanding

TTM —

Interest coverage is weak

Calendar of TLRY

Upcoming

Oct 8, 2026In 34 days
Q1 FY2027 · Earnings report
Est. EPS $-0.18
Feb 28, 2027
Q3 FY2027 · Estimated results
Est. EPS $-0.16 · Revenue $268.02M · 1 analysts
May 31, 2027
FY2027 · Estimated annual results
Est. EPS $-0.50 · Revenue $1.12B · 3 analysts
Aug 31, 2027
Q1 FY2028 · Estimated results
Est. EPS $0.01 · Revenue $285.13M · 1 analysts

Recent history

Jul 28, 2026
FY2026 · Annual results
EPS $-1.09 · Revenue $915.45M
View filing
Apr 1, 2026
Q3 FY2026 · Results reported
EPS $-0.33 · Revenue $282.20M
View filing
Jan 8, 2026
Q2 FY2026 · Results reported
EPS $-0.57 · Revenue $303.85M
View filing
Oct 9, 2025
Q1 FY2026 · Results reported
EPS $-0.00 · Revenue $287.78M
View filing
Jul 29, 2025
FY2025 · Annual results
EPS $-33.80 · Revenue $1.13B
View filing
Feb 28, 2025
Q3 FY2025 · Results reported
EPS $-12.60 · Revenue $268.34M

Financial Statements of TLRY

Next Earnings Date

Oct 8, 2026

EPS Est. -0.18 · Fiscal period ending 2026-08-31

D-34

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$915.5M	-18.8%	-0.2%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$-122.6M	+95.9%	-36.7%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+28.4%	-2.9%	+12.6%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	-6.9%	+97.5%	+83.4%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	-13.4%	+95.0%	-36.9%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$-102.1M	+41.6%	-83.1%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	-11.2%	+28.1%	-83.4%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	24.7%	+13.5%	+21.2%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	2.21x	-10.0%	-20.8%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$2.3B	-19.8%	+12.2%

Actual vs Estimate

A May 31Q Feb 28

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	-1.09 vs -0.64	-69.8%	-0.43 vs -0.16	-162.2%
Revenue Surprise	$915.5M vs $878.0M	+4.3%	$281.7M vs $268.0M	+5.1%

Insider Transactions of TLRY

Acquisitions (A)

Since Aug 26, 2026

Disposals (D)

Since Aug 26, 2026

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Aug 26, 2026	SIMON IRWIN D	director, officer: President and CEO	Common Stock	A	803,563	—
Aug 26, 2026	SIMON IRWIN D	director, officer: President and CEO	Common Stock	D	425,889	$4.88
Aug 26, 2026	SIMON IRWIN D	director, officer: President and CEO	Common Stock	A	408,605	—
Aug 26, 2026	SIMON IRWIN D	director, officer: President and CEO	Common Stock	D	216,561	$4.88
Aug 26, 2026	SIMON IRWIN D	director, officer: President and CEO	Performance Based Restricted Stock Units	D	803,563	—

Earnings Call Transcript of TLRY

1 transcript segments

Q4 2026

Unknown Speaker

Operator: Thank you. Thank you for joining today's conference call to discuss Tilray Brands' Financial Results for the Fourth Quarter and Fiscal Year 2026, ended May 31, 2026. [Operator Instructions] I will now turn the call over to Ms. Berrin Noorata, Tilray Brands' Chief Communications and Corporate Affairs Officer. Thank you. You may now begin. Berrin Noorata: Thank you, Operator, and good afternoon, everyone. By now, you should have access to the earnings press release, which is available on the investors section of Tilray Brands' website at tilray.com and has been filed with the SEC and OSC. Please note that during today's call, we will be referring to various non-GAAP financial measures that can provide useful information for investors. However, the presentation of this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with GAAP. The earnings press release contains a reconciliation of each non-GAAP financial measure to the most comparable measure prepared in accordance with GAAP. In addition, we will be making numerous forward-looking statements during our remarks and in response to your questions. These statements are based on our current expectations and beliefs and involve known and unknown risks and uncertainties which may prove to be incorrect. Actual results could differ materially from those described in those forward-looking statements. The text in our earnings press release includes many of the risks and uncertainties associated with such forward-looking statements. Today we will be hearing from key members of our senior leadership team, beginning with Irwin Simon, Chairman and Chief Executive Officer, who will provide opening remarks and commentary; followed by Carl Merton, Chief Financial Officer, who will review our financial results for the fourth quarter and fiscal year 2026. And now I'd like to turn the call over to Tilray Brands' Chairman and CEO, Irwin Simon. Irwin Simon: Thank you, Berrin. And good afternoon, everyone. And thank you for joining us today. Fiscal 2026 proves something important and exciting. Tilray Brands is more than the company many people think it is. Today, Tilray is a diversified global consumer products and pharmaceutical distribution company with leadership positions across cannabis, beverage, hospitality and wellness. We are no longer defined by one category, one market, or one regulatory outcome. We have transformed Tilray into a company with multiple cash-generating businesses, positive cash flow from operations excluding working capital, and significant runway for future growth. There is no other company with the scale, diversification, global infrastructure, or interconnected business segments across cannabis, beverages, hospitality and wellness that Tilray has built brand by brand. Since I took the helm in 2019, when Aphria was a singularly focused a $50 million revenue company, we have pursued disciplined …

Leadership Team of TLRY

11 executives

Name	Title	Compensation	Gender	Year Born	Status
Irwin David Simon	President, Chief Executive Officer & Chairman	USD 5,566,212	Male	1958	Active
Denise Menikheim Faltischek	Chief Strategy Officer and Head of M&A	USD 1,305,111	Female	1973	Active
Mitchell S. Gendel	Global General Counsel & Corporate Secretary	USD 1,202,959	Male	1966	Active
Carl A. Merton	Chief Financial Officer & Principal Accounting Officer	USD 959,237	Male	1970	Active
Roger Savell	Chief Administrative Officer & Chief Financial Officer of International	USD 871,176	Male	1963	Active
Lloyd Brathwaite	Chief Information Officer	—	Male	—	Active
Jared Simon	President of Manitoba Harvest & Tilray Wellness	—	Male	—	Active
Berrin Noorata	Chief Corporate Affairs Officer	—	Female	—	Active
Rajnish Ohri	President of International	—	Male	1962	Active
Nyree Pinto	Chief Human Resources Officer	—	Female	—	Active
Blair MacNeil	President of Tilray Canada	—	Male	—	Active

Recent News of TLRY

Fool - Investing News8/3/2026Neutral

The Surprising Part of Tilray's Business That Drove Most of Its Growth Last Year

Tilray's distribution segment was the only one that generated double-digit growth in its most recent fiscal year.

Proactive Investors7/30/2026Neutral

Tilray Brands seen creating long-term value through diversified platform, Jefferies says

Tilray Inc (NASDAQ:TLRY) is making progress in its transition into a diversified consumer products company, according to Jefferies, which reiterated its ‘Buy' rating while lowering its price target to $19 from a higher prior target after cutting earnings forecasts. Shares traded up almost 3% at about $4 on Thursday afternoon The firm reduced its fiscal 2027 and 2028 EBITDA estimates after management guided to fiscal 2027 adjusted EBITDA of $68 million to $75 million, below the consensus estimate of $84 million.

Invezz7/30/2026Neutral

Tilray Brands stock continues its downward spiral: buy the dip or sell the rip?

Tilray Brands stock continued its strong downtrend and is hovering at its lowest level since June last year. TLRY has slumped by 57% this year, mirroring the performance of other cannabis stocks like Green Thumb Industries, Truelive Cannabis, and Curaleaf.

Proactive Investors - Finance7/30/2026Neutral

Tilray Brands seen creating long-term value through diversified platform, Jefferies says

Tilray Inc (NASDAQ:TLRY) is making progress in its transition into a diversified consumer products company, according to Jefferies, which reiterated its...

Seeking Alpha7/29/2026Neutral

Tilray Q4: Dilution Outweighs Progress

Tilray Brands delivered strong Q4 revenue growth, driven by the BrewDog acquisition, but shares hit new lows due to ongoing dilution. Despite revenue gains, most segment gross margins stagnated, and adjusted net income fell 60% year over year, highlighting persistent profitability challenges. The company's valuation remains quite depressed compared to peer Canopy Growth, which is expected to show more revenue growth.

Historical Employee Count of TLRY

Current

3,595

Change

+26.50%

Minimum

1,600

Maximum

3,595

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
May 31, 2026	3,595	10-K	Jul 28, 2026	View
May 31, 2025	2,842	10-K	Jul 29, 2025	View
May 31, 2024	2,650	10-K	Jul 30, 2024	View
May 31, 2023	1,600	10-K	Jul 26, 2023	View
May 31, 2022	1,800	10-K	Jul 28, 2022	View

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Tilray Brands, Inc.