NASDAQ$TLRY

Tilray Brands Inc · Q3 2025 earnings

Q3 2025 earnings · · Before market open · Investor relations

Briefing

Tilray Brands reported Q3 2025 revenue of $185.8M, a net loss of $789.4M, diluted EPS of $-0.85.

For Q3 2025, Tilray Brands reported Revenue was $185.8M, net loss was $789.4M, diluted EPS was $-0.85. Management discusses segment trends, liquidity, and outlook in the quarterly filing.

  • Revenue $185.8M for Q3 2025.
  • Net loss $789.4M.
  • Diluted EPS $-0.85.

Headline financials

Total Revenue

$186M

Previous: $188M-1.4%
EPS (adj)

-$0.85

Previous: -$0.12-608.3%
Gross Margin

28.0%

No prior period
Adjusted EBITDA

$9.04M

Previous: $10.2M-11.0%
Cannabis Gross Margin

41.0%

Previous: 33.0%+24.2%
Capital Expenditures

-$13.7M

Previous: -$9.7M-40.8%
Net Income

-$789M

Previous: -$92.7M-751.6%
Operating Income

-$760M

Previous: -$82.1M-825.6%
Gross Profit

$52M

Previous: $49.4M+5.3%
R&D Expense

$85K

Previous: $106K-19.8%

Revenue & EPS history

Tilray · Revenue · Quarterly

$186M

Q3 2025-1.4%vs Q3 2024
Beat estimate in 6 of 14 quarters(43%)
ActualEstimate

Revenue by segment

Tilray · $225M total across 4 segments · Q4 2025

  • Distribution
    $74.1M—
  • Cannabis
    $67.8M—
  • Beverage
    $65.6M—
  • Wellness
    $17M—

Forward guidance

Outlook emphasizes clinical milestones, cash runway, and R&D spend.

Tailwinds

  • Pipeline progress and partnership optionality.
  • Balance-sheet flexibility where noted.

Headwinds

  • Operating losses until commercialization.
  • Trial, regulatory, and financing risks.

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 Q3 2025

Historical avgQ3 2025

-2.0%

Avg return

Earnings day

-4.6%

Avg return

5 days after

-0.3%

Avg return

30 days after

36%

12 / 33 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%
Q4 2025+1.4%-17.4%+98.6%
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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