Tilray posts fiscal Q1 loss of $0.02 adjusted EPS

Tilray Brands reported an adjusted loss of $0.02 per share and a GAAP net loss of $0.32 per share for its fiscal first quarter of 2027. The consensus estimate had projected a loss of $0.19 per share. Net revenue reached $257.1 million, falling below the consensus estimate of $273.9 million.

Compared with the same quarter a year earlier, net revenue grew 22.7% from $209.5 million. Gross profit rose 35% to $77.5 million, while gross margin expanded to 30% from 27%.

By operating division, beverage net revenue climbed 82% to $101.5 million, up from $55.7 million in the prior-year period following the acquisition of BrewDog. Distribution net revenue increased 14% to $84.3 million. Cannabis net revenue declined to $56.1 million from $64.5 million, though cannabis gross margin rose to 39% from 36%. Wellness net revenue came in at $15.3 million.

Driven predominantly by non-cash charges, Tilray posted a quarterly net loss of $40.0 million. Adjusted EBITDA stood at $9.2 million compared to $10.2 million a year earlier, affected by approximately $1.7 million of global fuel surcharges. Tilray ended the period with $221.4 million in cash, restricted cash, and marketable securities, and reduced total outstanding debt by $42 million fiscal year to date.

Regarding its outlook, the company expects adjusted EBITDA of $68 million to $75 million for its fiscal year ending May 31, 2027, representing double-digit growth compared to fiscal year 2026.