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Cronos vs Tilray Brands: revenue, profit, margins and growth compared

Cronos brought in $193.4M of revenue in fiscal 2025, Tilray Brands $915.5M in fiscal 2026. Revenue changed by +19.5% at Cronos and +11.5% at Tilray Brands on the year before, so Cronos grew faster. Cronos kept -4.9% of its revenue as net profit, Tilray Brands -13.3%.

Side by side, latest fiscal year

CRONTLRY
Fiscal year endedFY2025 (December 31, 2025)FY2026 (May 31, 2026)
Revenue$193.4M$915.5M
Revenue growth+19.5%+11.5%
Net income-$9.4M-$121.4M
Net margin-4.9%-13.3%
Free cash flow$149Kn/a
Free cash flow margin0.1%n/a
Earnings per share (diluted)-$0.02-$1.09
Cash$791.8M$226M
Debtn/an/a
Price to earningsn/an/a
Market value$1.2B$481.2M
Dividend yieldn/an/a
Rank by revenue in sector#254 of 523 · Health care#151 of 523 · Health care

Over the years

Revenue
CRON FY2019: $13.2MCRON FY2019: $25.6MCRON FY2020: $54.4MCRON FY2021: $79.6MCRON FY2022: $109.3MCRON FY2023: $120.3MCRON FY2024: $161.8MCRON FY2025: $193.4MTLRY FY2021: $405.3MTLRY FY2020: $210.5MTLRY FY2021: $513.1MTLRY FY2022: $628.4MTLRY FY2023: $627.1MTLRY FY2024: $788.9MTLRY FY2025: $821.3MTLRY FY2026: $915.5MFY19FY20FY21FY22FY23FY24FY25FY26
CRON $193.4MTLRY $915.5M
Net income
CRON FY2019: -$21.6MCRON FY2019: $1.2BCRON FY2020: -$73.1MCRON FY2021: -$396.1MCRON FY2022: -$168.7MCRON FY2023: -$74MCRON FY2024: $41.1MCRON FY2025: -$9.4MTLRY FY2021: -$102.5MTLRY FY2020: -$271.1MTLRY FY2021: -$367.4MTLRY FY2022: -$476.8MTLRY FY2023: -$1.5BTLRY FY2024: -$245MTLRY FY2025: -$2.2BTLRY FY2026: -$121.4MFY19FY20FY21FY22FY23FY24FY25FY26
CRON -$9.4MTLRY -$121.4M
Net margin
CRON FY2019: -163.5%CRON FY2019: 4,549.7%CRON FY2020: -134.6%CRON FY2021: -497.5%CRON FY2022: -154.4%CRON FY2023: -61.5%CRON FY2024: 25.4%CRON FY2025: -4.9%TLRY FY2021: -25.3%TLRY FY2020: -128.8%TLRY FY2021: -71.6%TLRY FY2022: -75.9%TLRY FY2023: -231.6%TLRY FY2024: -31.1%TLRY FY2025: -266.3%TLRY FY2026: -13.3%FY19FY20FY21FY22FY23FY24FY25FY26
CRON -4.9%TLRY -13.3%
Revenue growth
CRON FY2019: +93.7%CRON FY2020: +112.0%CRON FY2021: +46.5%CRON FY2022: +37.3%CRON FY2023: +10.0%CRON FY2024: +34.5%CRON FY2025: +19.5%TLRY FY2020: -48.1%TLRY FY2021: +143.8%TLRY FY2022: +22.5%TLRY FY2023: -0.2%TLRY FY2024: +25.8%TLRY FY2025: +4.1%TLRY FY2026: +11.5%FY19FY20FY21FY22FY23FY24FY25FY26
CRON +19.5%TLRY +11.5%
Free cash flow
CRON FY2019: -$95.8MCRON FY2019: -$169.9MCRON FY2020: -$176.3MCRON FY2021: -$164.8MCRON FY2022: -$92.4MCRON FY2023: -$45.3MCRON FY2024: $6.4MCRON FY2025: $149KTLRY FY2021: -$199.4MTLRY FY2020: -$174MTLRY FY2021: -$83.6MTLRY FY2022: -$211.3MTLRY FY2023: -$12.9MTLRY FY2024: -$60.2MTLRY FY2025: -$127.5MFY19FY20FY21FY22FY23FY24FY25
CRON $149KTLRY -$127.5M

Fiscal years as each company reports them; the two may end in different months.

Questions about Cronos and Tilray Brands

Which is bigger by revenue, Cronos or Tilray Brands?

Tilray Brands is bigger by revenue: $915.5M in fiscal 2026, against $193.4M for Cronos in fiscal 2025.

Which keeps more of its revenue as profit, Cronos or Tilray Brands?

Cronos had a net margin of -4.9% in fiscal 2025; Tilray Brands had -13.3% in fiscal 2026.

Which grew revenue faster, Cronos or Tilray Brands?

In their latest fiscal years revenue changed by +19.5% at Cronos and +11.5% at Tilray Brands.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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