Tilray Brands(NASDAQ) TLRY

Tilray Brands, Inc. makes cannabis products and craft drinks. It helps people find wellness through plant-based products. The company also makes many popular alcoholic beverages.

From Cannabis to Craft Beer

• Cannabis business: Cultivates and sells medical and adult-use cannabis products; accounts for 29% of net revenue in the fiscal year ended May 31, 2026.
• Beverage business: Produces craft beer, spirits, and non-alcoholic drinks across 18 brands; accounts for 28% of net revenue in the fiscal year ended May 31, 2026.
• Distribution business: Manages the purchase and resale of pharmaceutical and wellness products; accounts for 36% of net revenue in the fiscal year ended May 31, 2026.
• Wellness business: Provides hemp-based food and lifestyle products like those from Manitoba Harvest; accounts for 7% of net revenue in the fiscal year ended May 31, 2026.

Strategic Global Expansions

• Acquired BrewDog between March and April 2026 to create a global craft beer platform with an international hospitality network.
• Signed an exclusive license with Carlsberg Group in Feb. 2026 to distribute specific beer brands in the United States starting in 2027.
• Purchased Lyphe Group in April 2026 to expand medical cannabis services and digital pharmacy capabilities in the United Kingdom.
• Entered a strategic partnership in Oct. 2025 for medical cannabis distribution and commercialization operations in Panama.

Operational Reach and Efficiency

Tilray manages a global distribution network that reaches over 20 countries through various medical and retail channels. The company uses advanced data analytics and consumer insights to develop new products across its four business segments while maintaining European Union Good Manufacturing Practices (EU-GMP) facilities.

Key Financial Performance Metrics

• Net revenue reached $915.5 million for the fiscal year ended May 31, 2026, up 11% year over year.
• Gross profit was $260.4 million in the fiscal year ended May 31, 2026, up 8% year over year.
• Net loss narrowed to $105.2 million for the fiscal year ended May 31, 2026, compared to a $2.2 billion loss in the prior year.
• Adjusted EBITDA, which is earnings before interest, taxes, depreciation, and amortization, reached $61.1 million for the fiscal year ended May 31, 2026.

Company Evolution Summary

Tilray has successfully transitioned into a global consumer packaged goods company with significant interests in beverages and wellness. Its integrated production facilities and broad brand portfolio help it navigate changing regulations in the international cannabis and alcohol markets.