TLRY · Tilray Brands, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '23 | Q2 '23 | Q1 '24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $206.73M | $217.51M | $209.50M | $210.95M | $185.78M | $200.04M | - | $188.34M | $193.77M | $176.95M |
| Cost of Revenue | $151.78M | $160.01M | $152.03M | $149.73M | $133.77M | $140.34M | - | $138.94M | $146.36M | $132.75M |
| Gross Profit | $54.95M | $57.50M | $57.47M | $61.22M | $52.01M | $59.71M | - | $49.40M | $47.41M | $44.20M |
| R&D | $62.0K | $78.0K | $41.0K | $60.0K | $85.0K | $105.0K | - | $106.0K | $56.0K | $79.0K |
| SG&A | $50.23M | $51.17M | $41.05M | $46.00M | $39.25M | $44.11M | - | $39.94M | $43.31M | $40.52M |
| Total Operating Expenses | $81.34M | $79.78M | $55.38M | $103.44M | $811.94M | $96.28M | - | $131.49M | $89.17M | $78.56M |
| D&A | - | - | - | - | - | - | - | - | - | - |
| Operating Income | ($26.39M) | ($22.28M) | $2.09M | ($42.22M) | ($759.93M) | ($36.57M) | - | ($82.10M) | ($41.76M) | ($34.36M) |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $1.97M | $3.55M | ($2.29M) | $2.04M | $1.20M | $886.0K | - | ($2.87M) | $3.38M | $7.26M |
| Net Income | ($26.57M) | ($44.93M) | ($322.0K) | ($85.34M) | ($789.44M) | ($39.16M) | - | ($92.70M) | ($49.01M) | ($71.53M) |
| EPS - Basic | ($0.24) | ($0.41) | $0.00 | ($1.00) | ($8.70) | ($0.40) | - | ($1.20) | ($0.70) | ($1.00) |
| EPS - Diluted | ($0.24) | ($0.41) | $0.00 | ($1.00) | ($8.70) | ($0.40) | - | ($1.20) | ($0.70) | ($1.00) |
Balance Sheet
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '23 | Q2 '23 | Q1 '24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $204.62M | $246.70M | $264.83M | $221.67M | $228.34M | $205.19M | $228.34M | $146.25M | $143.37M | $177.52M |
| Accounts Receivable | $118.37M | $109.07M | $107.08M | $121.49M | $103.37M | $104.04M | $101.69M | $89.54M | $90.60M | $82.08M |
| Inventory | $292.30M | $283.20M | $282.79M | $270.88M | $252.09M | $264.30M | $252.09M | $244.14M | $252.70M | $232.07M |
| Accounts Payable | $115.33M | $114.50M | $110.80M | $107.35M | $98.91M | $101.87M | $105.39M | $90.16M | $88.36M | $78.97M |
| Current Assets | $718.76M | $729.32M | $701.14M | $688.63M | $677.71M | $725.88M | $677.71M | $631.21M | $642.03M | $829.25M |
| Total Assets | $2.07B | $2.10B | $2.08B | $2.07B | $3.40B | $4.26B | $4.22B | $4.21B | $4.33B | $4.40B |
| Current Liabilities | $257.54M | $259.31M | $267.63M | $280.30M | $262.17M | $293.55M | $299.17M | $329.10M | $394.99M | $537.27M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $549.12M | $552.09M | $561.99M | $584.75M | $778.49M | $778.45M | $778.49M | $869.82M | $937.20M | $1.00B |
| Stockholders' Equity | $1.56B | $1.58B | $1.54B | $1.51B | $2.73B | $3.48B | $3.44B | $3.36B | $3.37B | $3.38B |
| Retained Earnings | ($4.92B) | ($4.89B) | ($4.85B) | ($4.85B) | ($3.57B) | ($2.70B) | ($2.66B) | ($2.63B) | ($2.54B) | ($2.49B) |
Cash Flow
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '23 | Q2 '23 | Q1 '24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | ($1.34M) | - | - | ($35.31M) | - | - | - | ($15.84M) |
| Investing Cash Flow | - | - | $24.47M | - | - | ($49.40M) | - | - | - | ($26.29M) |
| Financing Cash Flow | - | - | $19.85M | - | - | $60.59M | - | - | - | $14.02M |
| CapEx | - | - | - | - | - | $6.74M | - | - | - | $4.15M |
| Free Cash Flow | - | - | - | - | - | ($42.04M) | - | - | - | ($19.99M) |
Ratios
| Metric | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '23 | Q2 '23 | Q1 '24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 26.6% | 26.4% | 27.4% | 29.0% | 28.0% | 29.8% | - | 26.2% | 24.5% | 25.0% |
| Operating margin | -12.8% | -10.2% | 1.0% | -20.0% | -409.0% | -18.3% | - | -43.6% | -21.6% | -19.4% |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | -12.9% | -20.7% | -0.2% | -40.5% | -424.9% | -19.6% | - | -49.2% | -25.3% | -40.4% |
| Free cash flow margin | - | - | - | - | - | -21.0% | - | - | - | -11.3% |
| FCF / Net income | - | - | - | - | - | 1.07 | - | - | - | 0.28 |
| R&D / Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | - | 0.1% | 0.0% | 0.0% |
| SG&A / Revenue | 24.3% | 23.5% | 19.6% | 21.8% | 21.1% | 22.1% | - | 21.2% | 22.4% | 22.9% |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -1.3% | -2.1% | -0.0% | -4.1% | -23.2% | -0.9% | - | -2.2% | -1.1% | -1.6% |
| Return on equity | -1.7% | -2.8% | -0.0% | -5.6% | -28.9% | -1.1% | - | -2.8% | -1.5% | -2.1% |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 2.79 | 2.81 | 2.62 | 2.46 | 2.58 | 2.47 | 2.27 | 1.92 | 1.63 | 1.54 |
| Quick ratio | 1.66 | 1.72 | 1.56 | 1.49 | 1.62 | 1.57 | 1.42 | 1.18 | 0.99 | 1.11 |
| Cash ratio | 0.79 | 0.95 | 0.99 | 0.79 | 0.87 | 0.70 | 0.76 | 0.44 | 0.36 | 0.33 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.33 | 1.33 | 1.35 | 1.37 | 1.25 | 1.23 | 1.23 | 1.25 | 1.29 | 1.30 |
| Liabilities / Assets | 0.26 | 0.26 | 0.27 | 0.28 | 0.23 | 0.18 | 0.18 | 0.21 | 0.22 | 0.23 |
| Efficiency | ||||||||||
| Asset turnover | 0.10 | 0.10 | 0.10 | 0.10 | 0.05 | 0.05 | - | 0.04 | 0.04 | 0.04 |
| Inventory turnover | 0.52 | 0.57 | 0.54 | 0.55 | 0.53 | 0.53 | - | 0.57 | 0.58 | 0.57 |
| Days sales outstanding | 209d | 183d | 187d | 210d | 203d | 190d | - | 174d | 171d | 169d |
| Days inventory outstanding | 703d | 646d | 679d | 660d | 688d | 687d | - | 641d | 630d | 638d |
| Days payable outstanding | 277d | 261d | 266d | 262d | 270d | 265d | - | 237d | 220d | 217d |
| Cash conversion cycle | 635d | 568d | 599d | 609d | 621d | 612d | - | 578d | 580d | 590d |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 0.6x | 0.6x | 9.5x | 2.5x | 2.5x | 4.3x | - | 3.9x | 3.9x | 6.1x |
| P / S | 4.3x | 4.1x | 69.8x | 17.6x | 36.2x | 74.8x | - | 69.3x | 68.3x | 115.6x |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 11.3% | 3.1% | 4.7% | - | - | 13.1% | - | 29.4% | 34.4% | - |
| Revenue CAGR (3y) | 3.2% | 3.9% | - | 13.5% | 8.5% | 9.3% | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 5.7% | -6.1% | -3.7% | - | - | 35.1% | - | - | 18.2% | - |
| Operating income growth (YoY) | 96.5% | 47.2% | - | - | - | -6.4% | - | 93.2% | 19.4% | - |
| Net income growth (YoY) | 96.6% | 47.4% | 99.2% | - | - | 45.2% | - | 92.1% | 29.4% | - |
| EPS growth (YoY) | 97.2% | 59.0% | - | - | - | 60.0% | - | 36.8% | -536.4% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | -110.3% | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -42.9% | 4.5% | -55.7% | -56.1% | - | 2.9% | 2.2% | -1.3% | -23.4% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-05-31.
Business segments
$821.31M totalDistribution Business$271.23M · 33.0%
Cannabis Segment$249.00M · 30.3%
Beverage Alcohol Business$240.59M · 29.3%
Wellness Business$60.48M · 7.4%
Geographic
$821.31M totalEMEA$323.35M · 39.4%
US$273.69M · 33.3%
CA$212.86M · 25.9%
Rest Of World$11.40M · 1.4%
Peer comparison
Same SIC group: Medicinal Chemicals & Botanical Products
Comparing Tilray Brands against the 5 most active filers in the same SIC group.