Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Tilray Brands, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2019
FY2019
FY2021
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Revenue
179
167
405
210
513
628
627
789
821
915
Cost of revenue
136
190
309
186
390
512
480
566
581
655
Gross profit
43.5
-23.5
96.1
24.7
123
117
147
223
241
260
Research and development
1.05
9.17
1.92
4.41
0.83
1.52
0.68
0.64
0.28
0.36
Selling and marketing
17.4
63.8
15.3
54.7
17.5
30.9
30.9
41.9
37
42.3
General and administrative
75.8
111
93.8
85.9
112
163
165
167
167
204
Operating expenses
182
200
255
727
1,517
398
2,523
323
Operating income
-139
-304
-104
-201
-132
-610
-1,370
-175
-2,283
-63
Interest expense
25.6
30.9
39.7
46.6
49.3
41.3
29.9
Interest income
0.15
6.27
0.8
2.93
11.7
33
12.8
11.4
6.25
Other non-operating income
95.5
2.5
14.2
-10.3
-185
198
-66.9
-37.8
10.3
-1.37
Pre-tax income
-38.1
-330
-109
-277
-345
-441
-1,450
-249
-2,302
-88.1
Income tax
-2.05
-8.45
-8.35
-5.6
-8.97
-6.54
-7.18
-26.6
-121
17.1
Net income to minority interests
-11.1
1.71
31.4
42.7
9.66
22.6
5.38
16.2
Net income
-25
-321
-103
-271
-367
-477
-1,453
-245
-2,187
-121
EBITDA
-122
-288
-68.3
-182
-64.3
-456
EPS, basic
-1.80
-32.00
-4.70
-21.50
-13.60
-9.90
-23.50
-3.30
-24.56
-1.09
EPS, diluted
-1.80
-32.00
-4.70
-21.50
-13.60
-9.90
-23.50
-3.30
-24.56
-1.09
Shares, basic (weighted)
20.3
10
21.6
12.6
27
48.1
61.8
74.3
89
112
Shares, diluted (weighted)
20.3
10
21.6
12.6
27
48.1
61.8
74.3
89
112
Balance sheet
FY2019
FY2019
FY2021
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Cash and equivalents
96.8
361
190
488
416
207
228
222
226
Short-term investments
0
242
32.2
34.7
5.29
Receivables
36.2
37.9
29
87.3
95.3
86.2
102
121
189
Inventory
87.9
140
93.6
256
246
201
252
271
301
Other current assets
38.2
5.77
34.6
8.58
46.8
37.7
31.3
34.1
64.7
Total current assets
259
582
347
884
804
773
678
689
792
Property, plant and equipment
365
184
421
200
651
587
430
558
568
680
Lease right-of-use assets
17.5
5.36
18
18.3
13
5.94
16.1
22.3
42.3
Goodwill
163
447
167
2,833
2,641
2,009
2,009
752
752
Intangible assets
284
229
263
186
1,606
1,278
974
915
21.4
42.8
Long-term investments
19.6
17.7
10.1
7.8
10.1
10.1
6.55
Other non-current assets
7.86
4.36
8.29
0.31
0.22
5.4
11.1
11
Total assets
896
1,738
946
6,025
5,450
4,307
4,222
2,074
2,328
Accounts payable
39.1
41.2
17.8
57.7
68.6
70.8
105
107
115
Accrued liabilities
24.8
48.1
9.28
113
57.5
78
92.4
103
136
Short-term debt
6.14
36.6
67.8
23.4
18
7.18
8.78
Total current liabilities
92.4
120
181
401
280
433
299
280
358
Long-term debt
94
167
118
Lease liabilities
15.3
4.23
15.3
18.5
11.3
7.94
16.5
20.6
38.5
Other non-current liabilities
5.65
4.61
3.91
0.19
0.22
0.09
0.86
4.4
Total liabilities
611
463
572
1,560
1,008
977
778
585
733
Total debt
94
204
186
Paid-in capital
706
1,367
1,096
4,792
5,382
5,778
6,147
6,402
6,627
Retained earnings
-430
-113
-730
-486
-963
-2,416
-2,660
-4,847
-4,969
Treasury stock
0
0
0
Other comprehensive income
0.9
9.72
-5.43
8.21
153
-20.8
-46.6
-43.5
-43.1
-44.2
Shareholders' equity
285
1,248
374
4,459
4,399
3,316
3,443
1,511
1,614
Minority interests
27
6.24
42.6
14.3
0.27
-21.9
-19.5
Total equity
1,234
285
1,275
374
4,465
4,441
3,330
3,443
1,490
1,595
Total liabilities and equity
896
1,738
946
6,025
5,450
4,307
4,222
2,074
2,328
Shares outstanding
44.6
53.3
65.7
832
106
132
Cash flow statement
FY2019
FY2019
FY2021
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Net income
-36.1
-321
-101
-271
-336
-434
-1,443
-222
-2,181
-105
Depreciation and amortization
17.2
15.8
35.7
18.7
67.8
155
Stock-based compensation
22
31.8
18.1
29.7
17.4
36
39.6
31.8
24.3
45.9
Deferred income tax
-5.83
-8.85
-13.3
-5.38
-24.9
-30.6
-33.6
-38.9
-126
8.02
Change in receivables
-9.42
-14.8
25.6
6.29
-23.5
-5.84
4.17
-6.58
-17.8
-66.4
Change in inventory
26.1
-103
89.7
-30.1
-55.2
-45.7
-12.9
-15.6
-13.6
-13.4
Change in payables
-8.98
47.3
14.6
-44.7
20
0.21
-22.9
19.4
Cash from operations
-42
-258
-101
-129
-44.7
-177
7.91
-30.9
-94.6
-69.1
Capital expenditures
-156
-73.7
-98.8
-44.6
-38.9
-34.1
-20.8
-29.2
-32.9
Acquisitions
-17.8
-164
-25.9
66.6
0.33
-26.7
-60.6
-18.1
-53.7
Purchases of investments
-1,351
0
0
-242
Sales and maturities of investments
18.7
1,384
14.8
4.07
Cash from investing
-135
-253
-69.9
-41.7
46.1
-21.5
-285
128
-46.7
-55.8
Debt issued
46.4
Debt repaid
-1.61
Stock issued
186
5.46
74.4
85.5
103
263
130
8.62
161
158
Cash from financing
547
115
131
265
124
128
70.2
-75.2
134
131
Exchange rate effect
-9.57
6.08
-6.57
-0.91
2.12
-1.96
-2.23
-0.55
1.14
1.63
Net change in cash
361
-390
-46.5
92.9
128
-72.6
-209
21.7
-6.67
7.68
Free cash flow
-198
-332
-199
-174
-83.6
-211
-12.9
-60.2
-128
Interest paid
28.2
27.6
Income taxes paid
4.88
0.15
2.65
0.19
5.62
0.24
Key metrics
Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $4.13 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
28.4%
Gross profit / revenue.
Operating margin
-6.9%
Operating income / revenue.
Pre-tax margin
-9.6%
Pre-tax income / revenue.
Net margin
-13.3%
Net income / revenue.
Operating cash flow margin
-7.6%
Cash from operations / revenue.
Return on equity (ROE)
-7.8%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-5.5%
Net income / average total assets.
Return on invested capital (ROIC)
-3.7%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
0.0%
Research and development expense / revenue.
Stock-based pay / revenue
5.0%
Stock-based compensation (from the cash flow statement) / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
11.5%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
13.4%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
12.3%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
8.3%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
21.0%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
16.2%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
6.8%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-21.3%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-18.4%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
12.2%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-18.5%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-17.3%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
25.6%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
21.9%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
32.9%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
2.21x
Current assets / current liabilities.
Quick ratio
1.17x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.65x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$1.09
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-$1.09
Net income per basic share, as reported (split-adjusted).
Revenue per share
$8.19
Revenue / diluted weighted shares.
Operating cash flow per share
-$0.62
Cash from operations / diluted weighted shares.
Book value per share
$12.26
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.53x
Market cap / revenue.
P/B
0.30x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.59x
Market cap / tangible book value, when positive.
EV/Sales
0.27x
Enterprise value / revenue.
Earnings yield
-25.2%
Net income / market cap (the inverse of P/E).
What was Tilray Brands, Inc.'s revenue in fiscal 2026?
Tilray Brands, Inc. reported revenue of $915.5M for fiscal 2026, 11.5% higher than the year before.
Was Tilray Brands, Inc. profitable in fiscal 2026?
No. It reported a net loss of $121.4M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.