Tilray Revenue Hits Record In 2026, CEO Targets $1 Billion In Next Fiscal Year

Tilray Brands, Inc. (NASDAQ: TLRY) (TSX: TLRY) reported on Tuesday record annual revenue of $915.5 million, up 11% year over year.

Fourth-quarter revenue jumped 25% over the same period to $281.7 million, the company said in a press release.

Irwin D. Simon, the company’s chairman and CEO, said 2026 “marks an important milestone in Tilray’s evolution,” adding Tilray has “demonstrated the strength of the diversified global platform we’ve been building for the last five years.”

Tilray’s business spans cannabis, beverages, hospitality and wellness. Looking ahead to fiscal 2027, the company expects to generate over $1 billion in annual revenue while focused on expansion of its global operations, Simon said.

2026 Fiscal Year Financial Highlights

• Gross profit was up year-over-year 8% to $260.4 million.
• Gross margin was 28% compared to 29% in the prior fiscal year.
• Adjusted gross margin was 29% and remained unchanged.
• Cannabis net revenue increased 8% year-over-year to $268.3 million.
• Cannabis gross profit totaled $107.1 million, up 8% over the same period. 
• Cannabis gross margin was 40% in fiscal 2026 and was unchanged.
• Adjusted EBITDA came in positive at $61.1 million compared to $55 million in the prior fiscal year.
• Net loss totaled $105.2 million for fiscal 2026, largely due to non-cash charges.

Q4 Financial Highlights

• Net revenue was up 25% year-over-year to $281.7 million.
• Gross profit grew 34% over the same period to $90.5 million.
• Gross margin was 32% compared to 30% in the fourth quarter of last year.
• Cannabis net revenue increased 5% year-over-year to $71.5 million.
• Cannabis gross profit increased 7% over the same period to $31.7 million.
• Cannabis gross margin was 44% and was unchanged.
• Adjusted EBITDA was a gain of $31.9 million compared to a positive adjusted EBITDA of $27.6 million in the fourth quarter of fiscal 2025.

The company said it continues to evaluate opportunities following U.S. cannabis rescheduling developments but is pursuing a medical-first strategy, noting that regulatory uncertainty remains.

“The next chapter for Tilray will not be defined by one product, one market or one regulatory event,” Simon said. “It will be defined by disciplined execution across a diversified global platform built to create enduring shareholder value. We believe the opportunity ahead for Tilray Brands is greater than ever before.”

TLRY Price Action

Tilray’s shares traded 4.84% lower at $3.835 per share at the time of writing on Wednesday.