Tilray Brands achieves record Q3 revenue of $206.7M

Tilray Brands (NASDAQ:TLRY) reported record financial results for its third quarter of fiscal 2026, ended February 28, 2026, on Wednesday, April 1.

The results highlight a period of aggressive global expansion and a significant milestone in balance sheet management, as the company moved from a net debt position to a net cash positive status.

The company achieved net revenue of $206.7 million, representing an 11% increase year-over-year.

This top-line growth was supported by a 6% rise in gross profit to $55 million.

The standout performer for the period was the cannabis segment, where net revenue climbed 19% to $64.8 million, fueled almost entirely by a 73% surge in international cannabis sales.

Additionally, the company’s distribution arm set a new benchmark, with revenue reaching a record $83 million.

Adjusted EBITDA for the third quarter rose 19% to $10.7 million, reflecting improved operational efficiencies across Tilray’s diversified platform.

Perhaps the most significant financial highlight was the company’s improved liquidity; Tilray ended the quarter with $264.8 million in cash, restricted cash, and marketable securities.

This resulted in a net cash position of $3.5 million, a substantial recovery from the net debt reported in the prior-year period.

Subsequent to the quarter’s end, Tilray finalized its acquisition of BrewDog for approximately £40 million, a move that further cements its position as a global craft beverage powerhouse.

Looking ahead, management reaffirmed its full-year fiscal 2026 adjusted EBITDA guidance of $62 million to $72 million.