NASDAQ$TLRY
Tilray Brands Inc · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
Tilray Brands reported Q4 2025 net revenue of $224.5 million and Adjusted EBITDA of $27.6 million.
Tilray Brands posted Q4 net revenue of $224.5 million, down 2% year-over-year, with gross profit of $67.6 million. The quarter included a large non-cash impairment charge leading to a net loss of $1.27 billion. Adjusted EBITDA reached $27.6 million, the second highest in company history, while international cannabis revenue grew 71%.
- Q4 net revenue $224.5 million with cannabis gross margin expanding to 44%.
- International cannabis revenue rose 71% year-over-year in Q4.
- Adjusted EBITDA of $27.6 million was the second highest quarterly result ever.
- Balance sheet strengthened with $256.4 million in cash and marketable securities after ~$100 million debt repayments.
Headline financials
Revenue & EPS history
Tilray · Revenue · Quarterly
$225M
Revenue by segment
Tilray · $225M total across 4 segments · Q4 2025
- Distribution$74.1M—33.0%
- Cannabis$67.8M—30.2%
- Beverage$65.6M—29.2%
- Wellness$17M—7.6%
Forward guidance
Fiscal 2026 Adjusted EBITDA expected between $62 million and $72 million.
Tailwinds
- 13% to 31% growth versus fiscal 2025
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 Q4 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
| Quarter | Report date | Reaction (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% | |
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| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — |
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