Tilray Brands reports record US$915.5M revenue in Fiscal 2026

USA – Tilray Brands has reported record revenue of US$915.5 million for fiscal 2026, an 11% increase from US$821.3 million a year earlier, driven by growth across its cannabis, beverage, distribution and wellness businesses.  

The company also said its acquisition of BrewDog is already strengthening its global beverage platform and contributing to its long-term growth strategy. 

Beverage net revenue increased 6% to US$254.0 million during fiscal 2026, compared with US$240.6 million in the previous year. Fourth-quarter beverage revenue surged 61% to US$105 million, while gross profit for the segment reached US$40 million, reflecting stronger sales and improved performance across the portfolio. 

Tilray completed its £33 million acquisition of BrewDog in March, adding the brewer’s UK brewing operations, brand portfolio and 11 pubs across the UK and Ireland. Following the acquisition, BrewDog closed 38 pubs and reduced its workforce by 484 employees as part of a restructuring programme. 

The company said the acquisition has enhanced its global beverage platform by strengthening its brewing capabilities and expanding its presence in international markets. Tilray added that it has already “stabilised” the BrewDog business, improved its performance and positioned it for future profitability. 

Irwin D. Simon, chairman and chief executive of Tilray Brands, said: “In beverages, BrewDog, our American craft beer portfolio and our Carlsberg partnership create a global platform with significant opportunities for growth. Across every part of Tilray Brands, we remain focused on disciplined execution, stronger profitability, cash flow generation and creating long-term shareholder value.” 

Simon added: “The next chapter for Tilray will not be defined by one product, one market or one regulatory event. 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.” 

Adjusted EBITDA increased to US$61.1 million in fiscal 2026 from US$55.0 million a year earlier. Excluding approximately US$2.3 million in fuel surcharges recorded during the fourth quarter, adjusted EBITDA would have reached US$63.4 million. 

Gross profit rose 8% to US$260.4 million for the fiscal year, while fourth-quarter gross profit increased 34% to US$90.5 million. Gross margin also improved to 32% from 30% in the corresponding quarter of the previous year. 

Looking ahead, Tilray expects adjusted EBITDA of US$68 million to US$75 million in fiscal 2027, representing double-digit growth over fiscal 2026.  

Simon said the company also expects to surpass US$1 billion in annual revenue, supported by disciplined execution, stronger profitability and continued expansion across its diversified global business. 

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