Tilray Brands, Inc.
Tilray Brands, Inc. Q1 FY2026 earnings call
October 9, 2025 · fiscal period ended 2025-08
EPS · actual vs est
Revenue · actual vs est
Summary
Generated 2025-10-09
Management highlights
Irwin Simon highlighted momentum across businesses, strong profitability, balance sheet strength. Canadian cannabis was top licensed producer, grew 4% y/y. International cannabis grew 10% y/y, with growth in medical cannabis in Europe. Beverage business had progress with brand turnarounds and new products. Wellness business had strong revenue growth. Carl Merton reviewed financials, noting record net revenue, improved adjusted free cash flow, reaffirmed 2026 adjusted EBITDA guidance.
Segment performance
Total revenue was $210 million, up 5% year over year. Cannabis revenue was $64.5 million, up 5% y/y, with 12% growth in Canadian adult use and 10% in international. Beverage revenue was $55.7 million, impacted by SKU rationalization but new products contributed. Wellness revenue was $15.2 million, up 3% y/y. Distribution revenue was $74 million, up 9% y/y. Contribution: cannabis 31%, beverage 27%, wellness 7%, distribution 35%.
Guidance
Reaffirmed 2026 guidance for adjusted EBITDA between $62 million and $72 million. Strengthened balance sheet by reducing debt and increasing cash.
Risks
Permit delays in some European countries, potential changes in German legislation affecting product distribution, challenges in beverage segment margin improvement.
Q&A highlights
Q: About international growth opportunities, including permit delays and CC Pharma leverage.
A: Permits improving in Portugal, working on German quota, CC Pharma distributing medical cannabis to 13,000 drugstores.
Q: Rescheduling in US, infrastructure and acquisition.
A: Existing infrastructure can capture opportunity, open to partnerships/acquisitions.
Q: Bitcoin investment and strategy.
A: Invested in Bitcoin, looking at other assets, enabling website to accept Bitcoin.
Q: Germany product origin and risks.
A: Majority product from EU facilities, concern over Germany changing product conversion.
Q: Canadian adult use market and beverage margin.
A: Canadian market has growth runway, beverage margin issues addressed by cost cuts and SKU rationalization.
Key numbers
Reported versus consensus
Earnings calendar feed
| Metric | Reported | Consensus | Delta | Prior year |
|---|---|---|---|---|
| EPS | $-0.00 | $-0.27 | +98.4% | $-0.04 |
| Revenue | $287.8M | $204.5M | +40.7% | $200.0M |
Transcript
October 9, 2025Full transcript unavailable for redistribution
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