Tilray Brands Inc (NASDAQ:TLRY) Posts Mixed Result

Tilray Brands Inc (NASDAQ:TLRY), a global lifestyle and consumer packaged goods company at the forefront of the cannabis, beverage, and wellness industries, stock rose 3.91% (As on April 2, 11:32:25 AM UTC-4, Source: Google Finance) after the company posted mixed result for the third quarter of FY 26. Cannabis net revenue increased 19% to $64.8 million in the third quarter compared to $54.3 million as a result of a 73% increase in international cannabis revenue and an 8% increase in Canadian adult-use and medical cannabis net revenue combined. Cannabis gross profit increased 18% to $26.0 million in the third quarter compared to $22.0 million. Cannabis gross margin was 40% in the third quarter compared to 41%. Beverage net revenue was $42.6 million in the third quarter compared to $55.9 million. Beverage gross profit was $13.6 million in the third quarter compared to $19.9 million. Beverage gross margin was 32% in the third quarter compared to 36%. Wellness net revenue increased 16% to $16.4 million in the third quarter compared to $14.1 million. Distribution net revenue, which includes Tilray Pharma, grew to a third quarter record net revenue of $83.0 million compared to $61.5 million.

TLRY in the third quarter of FY 26 has reported the adjusted loss per share of $0.24, missing the analysts’ estimates for the adjusted loss per share of $0.14, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 11 percent to $206.73 million in the third quarter of FY 26, beating the analysts’ estimates for revenue by 0.39%. Adjusted net income (loss) and adjusted net income (loss) per share improved to $2.4 million and $0.02 in the third quarter compared to adjusted net loss of $2.9 million and $(0.03). Adjusted cash operating income improved to $4.0 million in the third quarter compared to an adjusted cash operating loss of $3.1 million. Adjusted EBITDA increased 19% to $10.7 million in the third quarter compared to $9.0 million. The cash, restricted cash, and marketable securities balance was of $264.8 million at the end of the third quarter, providing flexibility for strategic opportunities and investment. In the quarter, the company also further reduced the total outstanding debt by $4.2 million. In the quarter, TLRY completed the previously-announced Project 420 synergy program, delivering approximately $33 million in annualized cost savings.