# Tilray Brands, Inc. (TLRY)

**Exchange:** NASDAQ  
**Sector:** Healthcare  
**Market cap:** $4.47B  
**Price:** $5.02 (-2.90%)

> Tilray Brands, Inc. is a lifestyle consumer packaged goods company focused on cannabis and adjacent categories. The company engages in the research, cultivation, processing, and distribution of medical and adult-use cannabis products across Canada, the United States, Europe, the Middle East, Africa, and other international markets. Its operations are organized into four main segments: Cannabis, Beverage, Distribution, and Wellness. Within these segments, Tilray Brands offers branded medical and recreational cannabis, resells and distributes pharmaceutical and wellness products, and produces beverage alcohol, including beer and spirits, as well as hemp-based food products. The company markets its portfolio through a wide range of established brands spanning cannabis, craft brewing, spirits, and wellness-focused consumer products. Headquartered in Leamington, Canada, and founded in 2018, Tilray Brands, Inc. plays a notable role in the global cannabis and consumer packaged goods landscape by supplying products to medical patients, adult-use consumers, and retail and wholesale partners in multiple regions.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $821M | $241M | -$2.28B | -$2.19B | $-2.46 |
| 2024 | $789M | $223M | -$175M | -$245M | $-0.33 |
| 2023 | $627M | $147M | -$1.37B | -$1.45B | $-2.35 |
| 2022 | $628M | $117M | -$610M | -$477M | $-0.99 |
| 2021 | $513M | $123M | -$132M | -$367M | $-1.36 |
| 2020 | $210M | $25M | -$201M | -$271M | — |
| 2020 | $405M | $96M | -$104M | -$103M | $-0.47 |
| 2019 | $167M | -$23M | -$304M | -$321M | — |
| 2019 | $179M | $44M | -$139M | -$25M | $-0.18 |
| 2018 | $43M | $14M | -$58M | -$68M | — |
| 2017 | $21M | $11M | -$7M | -$8M | — |
| 2016 | $13M | $3M | -$7M | -$8M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $2.07B | $585M | $1.51B | $222M | — |
| 2024 | $4.22B | $778M | $3.44B | $228M | — |
| 2023 | $4.31B | $977M | $3.32B | $207M | — |
| 2022 | $5.45B | $1.01B | $4.40B | $416M | $186M |
| 2021 | $6.03B | $1.56B | $4.46B | $488M | $204M |
| 2020 | $946M | $572M | $374M | $190M | — |
| 2020 | $1.74B | $463M | $1.25B | $361M | $94M |
| 2019 | $896M | $611M | $285M | $97M | — |
| 2018 | $657M | $459M | $198M | $487M | — |
| 2017 | $54M | $59M | -$5M | $2M | $9M |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$95M | — | — |
| 2024 | -$31M | — | — |
| 2023 | $8M | — | — |
| 2022 | -$177M | — | — |
| 2021 | -$45M | — | — |
| 2020 | -$129M | $45M | -$174M |
| 2020 | -$101M | — | — |
| 2019 | -$258M | $74M | -$332M |
| 2019 | -$42M | — | — |
| 2018 | -$46M | $50M | -$96M |
| 2017 | -$6M | $11M | -$17M |
| 2016 | -$3M | $488,000 | -$4M |

Source: [CompaniesByCap](https://companiesbycap.com/company/TLRY)