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Niagen Bioscience vs Tilray Brands: revenue, profit, margins and growth compared

Niagen Bioscience brought in $129.4M of revenue in fiscal 2025, Tilray Brands $915.5M in fiscal 2026. Revenue changed by +29.9% at Niagen Bioscience and +11.5% at Tilray Brands on the year before, so Niagen Bioscience grew faster. Niagen Bioscience kept 13.4% of its revenue as net profit, Tilray Brands -13.3%.

Side by side, latest fiscal year

NAGETLRY
Fiscal year endedFY2025 (December 31, 2025)FY2026 (May 31, 2026)
Revenue$129.4M$915.5M
Revenue growth+29.9%+11.5%
Net income$17.4M-$121.4M
Net margin13.4%-13.3%
Free cash flown/an/a
Free cash flow marginn/an/a
Earnings per share (diluted)$0.20-$1.09
Cash$64.8M$226M
Debtn/an/a
Price to earnings15.3n/a
Market value$241.3M$481.2M
Dividend yieldn/an/a
Rank by revenue in sector#282 of 523 · Health care#151 of 523 · Health care

Over the years

Revenue
NAGE FY2018: $31.6MNAGE FY2019: $46.3MNAGE FY2020: $59.3MNAGE FY2021: $67.4MNAGE FY2022: $72.1MNAGE FY2023: $83.6MNAGE FY2024: $99.6MNAGE FY2025: $129.4MTLRY FY2021: $405.3MTLRY FY2020: $210.5MTLRY FY2021: $513.1MTLRY FY2022: $628.4MTLRY FY2023: $627.1MTLRY FY2024: $788.9MTLRY FY2025: $821.3MTLRY FY2026: $915.5MFY18FY19FY20FY21FY22FY23FY24FY25FY26
NAGE $129.4MTLRY $915.5M
Net income
NAGE FY2018: -$33.3MNAGE FY2019: -$32.1MNAGE FY2020: -$19.9MNAGE FY2021: -$27.1MNAGE FY2022: -$16.5MNAGE FY2023: -$4.9MNAGE FY2024: $8.6MNAGE FY2025: $17.4MTLRY FY2021: -$102.5MTLRY FY2020: -$271.1MTLRY FY2021: -$367.4MTLRY FY2022: -$476.8MTLRY FY2023: -$1.5BTLRY FY2024: -$245MTLRY FY2025: -$2.2BTLRY FY2026: -$121.4MFY18FY19FY20FY21FY22FY23FY24FY25FY26
NAGE $17.4MTLRY -$121.4M
Net margin
NAGE FY2018: -105.6%NAGE FY2019: -69.4%NAGE FY2020: -33.6%NAGE FY2021: -40.2%NAGE FY2022: -23.0%NAGE FY2023: -5.9%NAGE FY2024: 8.6%NAGE FY2025: 13.4%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%FY18FY19FY20FY21FY22FY23FY24FY25FY26
NAGE 13.4%TLRY -13.3%
Revenue growth
NAGE FY2019: +46.7%NAGE FY2020: +28.0%NAGE FY2021: +13.8%NAGE FY2022: +6.8%NAGE FY2023: +16.0%NAGE FY2024: +19.2%NAGE FY2025: +29.9%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
NAGE +29.9%TLRY +11.5%
Free cash flow
NAGE FY2018: -$22.2MNAGE FY2019: -$21.2MTLRY FY2021: -$199.4MTLRY FY2020: -$174MTLRY FY2021: -$83.6MTLRY FY2022: -$211.3MTLRY FY2023: -$12.9MTLRY FY2024: -$60.2MTLRY FY2025: -$127.5MFY18FY19FY20FY21FY22FY23FY24FY25
NAGE -$21.2MTLRY -$127.5M

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

Questions about Niagen Bioscience and Tilray Brands

Which is bigger by revenue, Niagen Bioscience or Tilray Brands?

Tilray Brands is bigger by revenue: $915.5M in fiscal 2026, against $129.4M for Niagen Bioscience in fiscal 2025.

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

Niagen Bioscience had a net margin of 13.4% in fiscal 2025; Tilray Brands had -13.3% in fiscal 2026.

Which grew revenue faster, Niagen Bioscience or Tilray Brands?

In their latest fiscal years revenue changed by +29.9% at Niagen Bioscience 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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