Tilray Brands (NASDAQ:TLRY) Posts Quarterly Earnings Results, Misses Estimates By $0.27 EPS

Tilray Brands (NASDAQ:TLRY) issued its quarterly earnings data on Thursday. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.27), Zacks reports. Tilray Brands had a negative return on equity of 6.79% and a negative net margin of 258.54%.The firm had revenue of $217.51 million during the quarter, compared to analysts’ expectations of $211.15 million. During the same period in the previous year, the firm earned ($0.03) EPS.

Here are the key takeaways from Tilray Brands’ conference call:

• Tilray reported a record Q2 net revenue of $217.5–$218M, adjusted EBITDA of $8.4M, improved net loss to $43.5M, and ended the quarter with ~$292M in cash and marketable securities, allowing a net cash position of roughly $30M and reaffirming FY26 adjusted EBITDA guidance of $62–$72M.
• International cannabis was a clear growth driver—global cannabis revenue rose to $67.5–$68M with 36% YoY and 51% sequential growth in international cannabis—and management says Tilray Medical is on a ~$150M annual run-rate while Tilray Pharma plans to significantly expand pharmacy distribution in Europe.
• The beverage/craft beer segment underperformed (Q2 beverage revenue ~$50M) and weighed on gross margin, with management acknowledging continued category headwinds and saying turnaround relies on Project 420 cost savings (target $33M annualized) and upcoming spring retailer resets.
• Management emphasized strategic readiness for U.S. cannabis rescheduling to Schedule III, positioning Tilray to pursue a federally compliant medical pathway, leverage clinical research and genetics, and scale U.S. medical operations if regulatory change occurs.

Tilray Brands Trading Up 1.6%

Shares of NASDAQ TLRY opened at $9.13 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.56 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.03 billion, a PE ratio of -0.40 and a beta of 1.77. The stock has a fifty day simple moving average of $10.19 and a 200-day simple moving average of $10.50. Tilray Brands has a twelve month low of $3.51 and a twelve month high of $23.20.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TLRY shares. Atb Cap Markets upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 10th. Wall Street Zen upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tilray Brands in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its holdings in shares of Tilray Brands by 15.0% in the second quarter. Tidal Investments LLC now owns 28,971,835 shares of the company’s stock valued at $12,006,000 after acquiring an additional 3,776,410 shares during the period. Millennium Management LLC grew its stake in shares of Tilray Brands by 281.0% during the 3rd quarter. Millennium Management LLC now owns 4,942,319 shares of the company’s stock worth $8,550,000 after purchasing an additional 3,645,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Tilray Brands in the third quarter valued at about $5,813,000. Ausdal Financial Partners Inc. acquired a new position in Tilray Brands during the second quarter worth $939,000. Finally, Swiss National Bank raised its stake in shares of Tilray Brands by 4.4% during the 3rd quarter. Swiss National Bank now owns 2,013,038 shares of the company’s stock worth $3,483,000 after buying an additional 84,900 shares during the last quarter. Institutional investors and hedge funds own 9.35% of the company’s stock.

Trending Headlines about Tilray Brands

Here are the key news stories impacting Tilray Brands this week:

• Positive Sentiment: Record revenue and improved balance sheet — Tilray reported record Q2 net revenue of about $218 million and said it has moved to a net cash position (roughly $292M in cash & marketable securities and ~ $30M net cash). This strengthens liquidity and reduces financial risk. Tilray Brands Delivers Record Q2 Fiscal 2026 Net Revenue of $218 Million, Moves to Net Cash Position and Reaffirms Full-Year Adjusted EBITDA Guidance
• Positive Sentiment: Earnings beat on both EPS and revenue — Q2 EPS came in at ($0.02) versus consensus ($0.17) and revenue of $217.5M topped the $211.2M estimate, showing upside to analyst expectations. View Press Release
• Positive Sentiment: Management reaffirmed full-year adjusted EBITDA guidance — management reiterated guidance for the fiscal year, which supports the outlook and may underpin investor confidence. Tilray Brands Delivers Record Q2 Fiscal 2026 Net Revenue …
• Neutral Sentiment: Earnings call transcript provides color on operations and U.S. opportunity — the call offers management commentary (e.g., international medical growth, U.S. rescheduling tailwinds) that investors can parse for execution details. Tilray Brands, Inc. (TLRY) Q2 2026 Earnings Call Transcript
• Neutral Sentiment: Analyst expectations were adjusted ahead of the print — coverage noted Wall Street revisions into the quarter; check analyst notes for any forward estimate changes. Top Wall Street Forecasters Revamp Tilray Brands Expectations Ahead Of Q2 Earnings
• Neutral Sentiment: Macro data (weekly jobless claims) published today may modestly influence market sentiment but contains no company-specific info. Weekly Jobless Claims Come in Muted
• Negative Sentiment: Profitability remains poor — despite revenue growth, Tilray reported a very negative net margin (~-258.5%) and negative ROE (~-6.8%), indicating losses and dilution of shareholder returns still persist. View Press Release

About Tilray Brands

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray’s product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.