NASDAQ$TLRY

Tilray Brands Inc · Q2 2025 earnings

Q2 2025 earnings · · Investor relations

Briefing

Tilray reported strong Q2 2025 financial results with gross profit increasing by 29% year-over-year and net revenue reaching a record $211 million.

Tilray Brands reported strong Q2 2025 financial results, with a 29% increase in gross profit year-over-year, reaching $61 million. The company achieved a record Q2 net revenue of $211 million, a 9% increase year-over-year (10% in constant currency).

  • Gross Profit Increased by 29% Year-Over-Year, Reaching $61 Million in Q2 with Growth Across All Four Business Segments
  • Achieved 9% Year-Over-Year Growth, Generating Record Q2 Net Revenue of $211 Million, 10% in Constant Currency
  • Beverage Revenue Increase by 36%
  • Announces Project 420: A $25 Million Synergy Plan for Tilray Beverage Business

Headline financials

Total Revenue

$211M

Previous: $194M+8.9%
EPS (adj)

-$0.10

Previous: -$0.07-42.9%
Gross Margin

29.0%

No prior period
Cannabis Gross Margin

35.0%

No prior period
Adjusted EBITDA

$9.02M

No prior period
Capital Expenditures

-$5.41M

Previous: -$5.74M+5.8%
Net Income

-$85.3M

Previous: -$49M-74.0%
Operating Income

-$42.2M

Previous: -$41.8M-1.1%
Gross Profit

$61M

Previous: $47.4M+28.7%
Stock-Based Comp

$7.24M

Previous: $8.2M-11.8%

Revenue & EPS history

Tilray · Revenue · Quarterly

$211M

Q2 2025+8.9%vs Q2 2024
Beat estimate in 6 of 13 quarters(46%)
ActualEstimate

Revenue by segment

Tilray · $152M total across 4 segments · Q3 2022

  • Distribution
    $62.5M-11.0%
  • Cannabis
    $55M+31.9%
  • Beverage
    $19.6M+64.1%
  • Wellness
    $14.7M

Forward guidance

The Company reaffirms its fiscal year 2025 guidance of anticipated net revenues between $950 million and $1 billion.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q2 2025

Historical avgQ2 2025

-2.1%

Avg return

Earnings day

-4.2%

Avg return

5 days after

-3.5%

Avg return

30 days after

34%

11 / 32 earnings

Positive

+27.4%

Q4 2023

Best reaction

-22.0%

Q3 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2026-2.9%-9.2%
Q2 2026+0.2%+8.4%-17.0%
Q1 2026+21.2%-7.0%-27.9%
Q3 2025-21.2%-15.5%-24.1%
Q2 2025-13.9%-13.9%-27.0%
Q1 2025+0.0%-3.7%-8.6%
Q4 2024+9.8%+1.6%-7.1%
Q3 2024-22.0%-29.7%-23.6%
Q2 2024-14.5%-20.1%-19.2%
Q1 2024-5.4%-9.4%-14.3%
Q4 2023+27.4%+50.6%+39.3%
Q3 2023-3.1%-8.8%+5.8%
Q2 2023-5.4%+7.5%+2.7%
Q1 2023-21.3%-21.0%-2.3%
Q4 2022+12.0%+19.6%+17.5%
Q3 2022-7.8%-9.4%-32.6%
Q2 2022+15.0%+6.9%+7.8%
Q1 2022-2.8%-4.7%-0.8%
Q4 2021+21.1%+14.8%+5.4%
Q3 2021+1.4%+0.1%-16.8%
Q4 2020-21.7%-24.1%-26.8%
Q2 2021+4.3%+10.2%+109.7%
Q3 2020-13.5%-20.6%-17.8%
Q2 2020-7.1%-2.8%-24.3%
Q1 2020-4.0%-0.1%+24.6%
Q4 2019-9.8%-30.6%-59.1%
Q3 2019-4.5%-9.1%-13.6%
Q2 2019-8.1%-26.3%-28.0%
Q1 2019+5.2%-1.7%-12.4%
Q4 2018-3.7%-7.4%-30.1%
Q3 2018-9.8%-2.6%-33.4%
Q2 2018+16.3%+22.0%+145.7%
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2012
Q4 2012
Q3 2011
Q2 2011

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