Tilray Brands, Inc. (TLRY) Income Statement
TLRY FY2026 at a glance
Fiscal year ended May 31, 2026 · U.S. dollarsTLRY revenue and net income
Where TLRY's revenue goes
FY2026Each bar shows an amount and its share of revenue. TLRY kept −13.4% of revenue as net income.
TLRY profit margins
TLRY growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +11.5% | +2.7% | +12.3% | +64.2% |
| Gross profit | +8.3% | +9.6% | +16.2% | +53.8% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TLRY quarterly EPS vs estimates
Tilray Brands beat the analyst EPS estimate in 3 of the last 8 quarters.
TLRY income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $915.5M | $821.3M | $1.07B | $844.7M | $628.4M | $513.1M | $295.0M | $43.1M | $20.5M | $15.2M |
| Cost of revenue | $655.0M | $580.7M | $770.7M | $646.8M | $511.6M | $389.9M | $225.1M | $100.5M | −$2.4M | $2.3M |
| Gross profit | $260.4M | $240.6M | $304.3M | $198.0M | $116.8M | $123.2M | $69.9M | $32.2M | $24.5M | $12.8M |
| Research & development | $361,000 | $284,000 | $865,231 | $918,635 | $1.5M | $830,000 | $1.4M | $778,844 | $293,445 | $365,207 |
| Sales, general & admin | $295.2M | $260.4M | $341.6M | $311.1M | $233.4M | $155.7M | $143.1M | $46.7M | $26.1M | $10.2M |
| Total operating expenses | $323.5M | $2.52B | $542.4M | $2.04B | $350.1M | $255.4M | $145.6M | $135.1M | $31.9M | $13.9M |
| Operating income | −$63.0M | −$2.28B | −$238.1M | −$1.84B | −$233.3M | −$132.2M | −$75.7M | −$36.7M | −$7.5M | −$1.0M |
| Interest income | $6.2M | $11.4M | $12.8M | $33.0M | $11.7M | $2.9M | $6.3M | — | — | — |
| Interest expense | $29.9M | $41.3M | $67.1M | $62.8M | $39.7M | $30.9M | $18.7M | $4.4M | $808,474 | $287,266 |
| Income before taxes | −$88.1M | −$2.30B | −$339.3M | −$1.95B | −$440.7M | −$345.0M | −$79.5M | −$38.1M | −$7.8M | $3.2M |
| Income taxes | $17.1M | −$121.0M | −$36.3M | −$9.7M | −$6.5M | −$9.0M | −$6.1M | $34,000 | $4.9M | $99,467 |
| Net income | −$122.6M | −$2.19B | −$333.8M | −$1.96B | −$476.8M | −$367.4M | −$74.6M | −$67.7M | −$7.8M | $3.1M |
| EBITDA | $9.5M | −$2.13B | −$99.3M | −$1.72B | −$246.4M | −$246.3M | −$44.9M | −$20.3M | −$5.6M | $4.9M |
| EPS (diluted) | −$0.43 | −$0.98 | −$1.67 | −$1.95 | −$0.83 | −$0.26 | −$2.04 | −$0.91 | −$0.26 | $0.25 |
| Gross margin | 28.4% | 29.3% | 28.3% | 23.4% | 18.6% | 24.0% | 23.7% | 74.7% | 119.2% | 84.6% |
| Operating margin | −6.9% | −277.9% | −22.1% | −218.4% | −37.1% | −25.8% | −25.7% | −85.0% | −36.5% | −6.8% |
| Net margin | −13.4% | −266.3% | −31.1% | −231.6% | −75.9% | −71.6% | −25.3% | −157.0% | −38.0% | 20.5% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $257.1M | $281.7M | $206.7M | $217.5M | $209.5M | $224.5M | $185.8M | $210.9M | $200.0M | $313.2M | $255.6M | $262.4M |
| Cost of revenue | $179.6M | $197.4M | $151.8M | $160.0M | $152.0M | $156.9M | $133.8M | $149.7M | $140.3M | $201.0M | $188.6M | $198.2M |
| Gross profit | $77.5M | $84.3M | $55.0M | $57.5M | $57.5M | $67.6M | $52.0M | $61.2M | $59.7M | $112.2M | $67.0M | $64.2M |
| Research & development | $89,000 | $180,000 | $62,000 | $78,000 | $41,000 | $34,000 | $85,000 | $60,000 | $105,000 | $536,852 | $143,880 | $75,826 |
| Sales, general & admin | $86.9M | $88.6M | $69.5M | $72.9M | $41.1M | $61.2M | $59.9M | $71.9M | $67.4M | $100.3M | $82.9M | $81.4M |
| Total operating expenses | $101.6M | $88.8M | $81.3M | $79.8M | $55.4M | $1.51B | $811.9M | $103.4M | $96.3M | $134.7M | $178.5M | $120.7M |
| Operating income | −$24.1M | −$4.5M | −$26.4M | −$22.3M | $2.1M | −$1.44B | −$759.9M | −$42.2M | −$36.6M | −$22.5M | −$111.4M | −$56.5M |
| Interest expense | $6.5M | $6.6M | $5.0M | $5.4M | $6.7M | $4.0M | $8.4M | $7.8M | $9.8M | $12.9M | $11.6M | $11.7M |
| Income before taxes | −$38.3M | −$24.1M | −$23.3M | −$40.0M | −$772,000 | −$1.39B | −$792.3M | −$83.2M | −$33.8M | −$58.6M | −$146.4M | −$67.1M |
| Income taxes | $1.7M | $13.9M | $2.0M | $3.5M | −$2.3M | −$125.1M | $1.2M | $2.0M | $886,000 | −$37.6M | −$3.9M | −$4.6M |
| Net income | −$43.1M | −$49.6M | −$26.6M | −$44.9M | −$322,000 | −$1.27B | −$789.4M | −$85.3M | −$39.2M | −$43.3M | −$125.8M | −$66.4M |
| EBITDA | −$13.2M | $14.8M | −$1.6M | −$18.6M | $21.5M | −$1.35B | −$750.4M | −$41.4M | $7.9M | $15.0M | −$90.3M | −$12.7M |
| EPS (diluted) | −$0.32 | −$0.43 | $0.02 | −$0.02 | −$0.00 | $0.02 | −$0.87 | −$0.03 | −$0.10 | −$0.04 | −$0.12 | −$0.60 |
| Gross margin | 30.1% | 29.9% | 26.6% | 26.4% | 27.4% | 30.1% | 28.0% | 29.0% | 29.8% | 35.8% | 26.2% | 24.5% |
| Operating margin | −9.4% | −1.6% | −12.8% | −10.2% | 1.0% | −643.1% | −409.0% | −20.0% | −18.3% | −7.2% | −43.6% | −21.6% |
| Net margin | −16.8% | −17.6% | −12.9% | −20.7% | −0.2% | −566.9% | −424.9% | −40.5% | −19.6% | −13.8% | −49.2% | −25.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TLRY's financial statements (latest annual report filed July 28, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TLRY financial results
In fiscal year 2026 (ended May 31, 2026), Tilray Brands reported revenue of $915.5 million, up 11.5% from the year before. It had a net loss of $122.6 million, a net profit margin of −13.4%. Diluted earnings per share came to −$0.43. Over five years revenue grew at an average rate of 12.3% a year.
See the TLRY stock overview for the latest quote and news, or the TLRY chart for price history and technical indicators.
TLRY income statement FAQ
What is Tilray Brands's annual revenue?
Tilray Brands reported total revenue of $915.5 million for fiscal year 2026, which ended on May 31, 2026. That was up 11.5% from $821.3 million the previous year.
Is Tilray Brands profitable?
No. Tilray Brands reported a net loss of $122.6 million in fiscal 2026, a net profit margin of −13.4%; its operating margin was −6.9%.
What is Tilray Brands's gross margin?
Tilray Brands's gross margin was 28.4% in fiscal 2026: for every $100 of revenue, Tilray Brands kept $28 after the direct cost of its products and services.
How much does Tilray Brands spend on research and development?
Tilray Brands spent $0.4 million on research and development in fiscal 2026, 0.0% of revenue.
How fast is Tilray Brands growing?
Revenue grew 12.3% a year on average over the last five fiscal years, from $513.1 million to $915.5 million.
What are Tilray Brands's earnings per share?
Tilray Brands earned $-0.43 per diluted share in fiscal 2026, compared with $-0.98 a year earlier.
When does Tilray Brands's fiscal year end?
Tilray Brands's fiscal year ends in May. The latest annual report covers the year ended May 31, 2026 and was filed on July 28, 2026.