Tilray Brands (NASDAQ:TLRY) Announces Quarterly Earnings Results

Tilray Brands (NASDAQ:TLRY) released its quarterly earnings results on Thursday. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.27), Zacks reports. The company had revenue of $217.51 million during the quarter, compared to the consensus estimate of $211.15 million. Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.05%. During the same period in the prior year, the company earned ($0.03) earnings per share.

Here are the key takeaways from Tilray Brands’ conference call:

• Tilray reported a record Q2 net revenue of $217.5–$218M, adjusted EBITDA of $8.4M, improved net loss to $43.5M, and ended the quarter with ~$292M in cash and marketable securities, allowing a net cash position of roughly $30M and reaffirming FY26 adjusted EBITDA guidance of $62–$72M.
• International cannabis was a clear growth driver—global cannabis revenue rose to $67.5–$68M with 36% YoY and 51% sequential growth in international cannabis—and management says Tilray Medical is on a ~$150M annual run-rate while Tilray Pharma plans to significantly expand pharmacy distribution in Europe.
• The beverage/craft beer segment underperformed (Q2 beverage revenue ~$50M) and weighed on gross margin, with management acknowledging continued category headwinds and saying turnaround relies on Project 420 cost savings (target $33M annualized) and upcoming spring retailer resets.
• Management emphasized strategic readiness for U.S. cannabis rescheduling to Schedule III, positioning Tilray to pursue a federally compliant medical pathway, leverage clinical research and genetics, and scale U.S. medical operations if regulatory change occurs.

Tilray Brands Stock Up 0.5%

NASDAQ TLRY opened at $9.18 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -0.42 and a beta of 1.77. The company has a 50 day moving average of $10.10 and a 200-day moving average of $10.54. Tilray Brands has a 1-year low of $3.51 and a 1-year high of $23.20.

Tilray Brands News Roundup

Here are the key news stories impacting Tilray Brands this week:

• Positive Sentiment: Record revenue, improved balance sheet — Tilray reported record Q2 net revenue of ~$218M, highlighted strong growth in international medical (+36%) and incremental gains in Canadian adult‑use, and said it moved to a net cash position with ~$292M in cash & marketable securities. Management reaffirmed full‑year adjusted EBITDA guidance, which supports upside to valuation if execution continues. Read More.
• Positive Sentiment: Revenue beat consensus — Reported revenue (~$217.5M) exceeded analyst estimates (~$211M), which helped push the stock higher amid proof of top‑line momentum and better-than-expected demand dynamics. Read More.
• Neutral Sentiment: Earnings call context and strategy — Transcripts and highlights show management emphasizing CPG and international medical expansion, potential opportunities from anticipated U.S. federal cannabis rescheduling, and strategic priorities for margin improvement; these are longer‑term catalysts but will require execution. Read More.
• Negative Sentiment: GAAP EPS miss and weak profitability — Tilray reported ($0.41) EPS vs. consensus of ($0.14), and the company still posts a deeply negative net margin and negative ROE, which keeps near‑term profitability concerns front and center for investors. Read More.
• Negative Sentiment: Analyst price‑target cut — Alliance Global halved its price target on TLRY, a signal that some sell‑side analysts are lowering near‑term expectations; such revisions can amplify downside pressure even after a revenue beat. Read More.

Hedge Funds Weigh In On Tilray Brands

Hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its position in shares of Tilray Brands by 15.0% during the 2nd quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after acquiring an additional 3,776,410 shares during the period. Millennium Management LLC increased its position in shares of Tilray Brands by 281.0% in the third quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after purchasing an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Tilray Brands in the third quarter valued at about $5,813,000. Ausdal Financial Partners Inc. bought a new stake in Tilray Brands during the second quarter worth about $939,000. Finally, Scientech Research LLC acquired a new stake in Tilray Brands during the third quarter worth about $1,748,000. Institutional investors own 9.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wall Street Zen raised Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a research note on Wednesday, October 8th. Finally, Atb Cap Markets raised Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Tilray Brands presently has an average rating of “Hold” and an average price target of $20.00.

About Tilray Brands

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray’s product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.