Tilray Brands (NASDAQ:TLRY) Releases Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Tilray Brands (NASDAQ:TLRY) released its quarterly earnings data on Wednesday. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.10), RTT News reports. Tilray Brands had a negative net margin of 251.69% and a negative return on equity of 6.35%. The company had revenue of $206.73 million during the quarter, compared to the consensus estimate of $201.35 million. During the same quarter in the prior year, the firm earned ($0.87) EPS.

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

• Record quarter and reaffirmed outlook: Tilray reported Q3 net revenue of $206.7M (+11% YoY), gross profit of $55M (+6% YoY) and adjusted EBITDA of $10.7M (+19% YoY), and management reaffirmed fiscal 2026 adjusted EBITDA guidance of $62M–$72M.
• Strong international cannabis growth: International cannabis net sales were $24.1M (+73% YoY) driven by medical flower volume +100% and oil +90%, with Germany up 43% despite approximately $7M of price compression impacting revenue.
• Beverage scale-up via BrewDog and Carlsberg: Tilray acquired BrewDog for ~GBP40M (adding roughly $225M–$250M of the acquired business) and entered a U.S. licensing partnership with Carlsberg (starting Jan 2027), and completed Project Four Twenty to capture $33M of annualized cost savings while working through near-term margin headwinds (aluminum, overhead absorption).
• Improved liquidity and balance sheet flexibility: The company finished the quarter with $264.8M in cash, restricted cash and marketable securities and a net cash position of ~$3.5M (a ~$40.2M year-over-year improvement), providing capacity to invest in growth despite $21.9M of cash used in operations this quarter.

Tilray Brands Stock Up 4.2%

Shares of NASDAQ:TLRY traded up $0.26 during midday trading on Thursday, hitting $6.40. 2,312,469 shares of the company’s stock were exchanged, compared to its average volume of 3,637,407. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.81 and a quick ratio of 1.72. Tilray Brands has a 12 month low of $3.51 and a 12 month high of $23.20. The company has a market cap of $745.18 million, a PE ratio of -0.29 and a beta of 1.96. The stock has a 50 day moving average price of $7.37 and a 200-day moving average price of $10.25.

Analyst Ratings Changes

A number of research firms have commented on TLRY. Zacks Research upgraded shares of Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 11th. Wall Street Zen raised shares of Tilray Brands from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Roth Mkm upgraded Tilray Brands from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Thursday. ATB Cormark Capital Markets upgraded Tilray Brands from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Finally, Canaccord Genuity Group started coverage on Tilray Brands in a research report on Tuesday, January 27th. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.75.

Institutional Trading of Tilray Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Voloridge Investment Management LLC bought a new position in shares of Tilray Brands in the fourth quarter valued at approximately $824,000. Polymer Capital Management US LLC bought a new stake in Tilray Brands during the fourth quarter worth $1,058,000. Engineers Gate Manager LP purchased a new stake in Tilray Brands in the 4th quarter valued at $126,000. Schonfeld Strategic Advisors LLC raised its position in Tilray Brands by 4.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 144,358 shares of the company’s stock valued at $1,304,000 after buying an additional 6,182 shares during the last quarter. Finally, Jump Financial LLC bought a new position in Tilray Brands during the 4th quarter valued at $155,000. 9.35% of the stock is owned by institutional investors.

Key Headlines Impacting Tilray Brands

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

• Positive Sentiment: Record revenue, improving profitability: TLRY reported a record Q3 with ~ $207M revenue (11% organic growth), higher gross profit and a narrower loss year-over-year, and the company reaffirmed FY26 guidance — a clear fundamental improvement. Tilray Brands Delivers Record Q3 Fiscal 2026 Results
• Positive Sentiment: Growth initiatives and product pipeline: expansion via the BrewDog acquisition and new consumer partnerships (Popsicle RTD alcohol tie-up, Shock Top product extensions) support longer‑term revenue diversification. Is Tilray Brands, Inc. (TLRY) Among the 11 Best Marijuana Stocks to Buy Right Now?
• Positive Sentiment: Analyst upgrade: Roth MKM raised TLRY from “neutral” to “buy” with a $10 price target (implying meaningful upside), which can support investor confidence and buying interest. Benzinga
• Neutral Sentiment: Mixed earnings detail: while revenue beat estimates, EPS came in at ($0.24) vs. consensus (~$0.14 loss), showing progress versus prior year but still a GAAP loss — a cause for mixed investor reactions. Tilray Brands, Inc. (TLRY) Reports Q3 Loss, Beats Revenue Estimates
• Negative Sentiment: Market skepticism / profit-taking: despite record revenue, shares fell intraday as investors focused on the EPS miss, beverage margin pressure and uneven international execution — several pieces explain why the stock sold off after initial gains. Tilray Sinks 4%: 3 Reasons the Market Isn’t Impressed Despite Record Q3 Revenue
• Negative Sentiment: Analyst caution / downgrades: some shops trimmed estimates or lowered expectations (reported TD Cowen weakness / an analyst downgrade that pressured the stock), adding downward catalyst despite the positives. TD Cowen Has Lowered Expectations for Tilray Brands (NASDAQ:TLRY) Stock Price

Tilray Brands Company Profile

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.