Revenue: As of FY2026, the actual value is USD 915.45 M, beating the estimate of USD 877.96 M.

EPS: As of FY2026, the actual value is USD -1.09.

EBIT: As of FY2026, the actual value is USD -64.4 M.

Fiscal Year 2026 Financial Highlights

Overall Performance

• Net revenue for Tilray Brands, Inc. increased 11% to $915.5 million in fiscal 2026, up from $821.3 million in the prior fiscal year.
• Gross profit increased 8% to $260.4 million, compared to $240.6 million in fiscal 2025.
• Gross margin for fiscal 2026 was 28%, a decrease from 29% in the prior year.
• Adjusted gross margin remained consistent at 29% for fiscal 2026.
• Net loss was -$105.2 million in fiscal 2026, significantly lower than the -$2,181.356 million net loss in fiscal 2025, primarily driven by non-cash charges.
• Adjusted net income increased almost 90% to $12.2 million, compared to $6.5 million in the prior fiscal year.
• Adjusted EBITDA was $61.1 million in fiscal 2026, an increase from $55.0 million in fiscal 2025.

Segment Revenue

• Cannabis: Net revenue increased 8% to $268.3 million in fiscal 2026, compared to $249.0 million in the prior year, with international medical cannabis revenue specifically increasing 34% for the fiscal year.
• Beverage: Net revenue increased 6% to $254.0 million in fiscal 2026, compared to $240.6 million in the prior year.
• Distribution: Net revenue increased 21% to $327.2 million in fiscal 2026, compared to $271.2 million in the prior year.
• Wellness: Net revenue increased 9% to $65.9 million in fiscal 2026, compared to $60.5 million in the prior year.

Segment Gross Profit and Margin

• Cannabis: Gross profit increased 8% to $107.1 million, up from $99.0 million in fiscal 2025, with a gross margin of 40%, which was unchanged.
• Beverage: Gross profit decreased 2% to $91.2 million, from $93.0 million in fiscal 2025, and the gross margin was 36%, down from 39%.
• Distribution: Gross profit increased 39% to $40.7 million, from $29.3 million in fiscal 2025, with a gross margin of 12%, up from 11%.
• Wellness: Gross profit increased 12% to $21.5 million, from $19.2 million in fiscal 2025, with a gross margin of 33%, up from 32%.
• CC Pharma gross profit increased 57% in the fiscal fourth quarter.

Cash Flow and Balance Sheet

• Net cash used in operating activities was -$69.144 million in fiscal 2026, an improvement from -$94.599 million in fiscal 2025.
• Free cash flow was -$98.624 million in fiscal 2026, compared to -$120.692 million in fiscal 2025.
• Cash flow from operations, excluding working capital, improved by 157% to approximately $18.2 million.
• Tilray Brands, Inc. ended the fiscal year with approximately $235 million in cash, restricted cash, and marketable securities.
• Net debt was reduced to $0.7 million.

Fiscal Year 2027 Guidance

Tilray Brands, Inc. expects to achieve Adjusted EBITDA of $68 million to $75 million for the fiscal year ending May 31, 2027, reflecting double-digit growth compared to fiscal year 2026. The company also anticipates achieving over $1 billion in annual revenue in Fiscal 2027.