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Tilray Brands cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow−$16.5M in Q1 FY27 · −$84.3M over twelve months

Operating cash flow−$16.5M
Free cash flow−$16.5M
Cash conversion cycle166 days

Analysis

In Q1 FY27, Tilray Brands generated −$16.5M of operating cash flow. That is $15.2M less than in Q1 FY26 (−$1.3M).

Over the twelve months to Aug 31, 2026, operating cash flow was −$84.3M; the largest uses were operating cash flow ($84.3M), acquisitions ($54.4M), other investing ($38.4M); besides operations, cash came from shares issued ($158M), asset & business sales ($3.3M); the cash balance fell by $46.5M.

Operating cash flow was −$16.5M against net income of −$40.0M. The largest differences: inventory −$27.8M, payables +$20.4M, stock-based pay +$6.6M.

Its cash conversion cycle was 166 days (receivables 68 + inventory 161 − payables 64).

Free cash flow

Tilray Brands: free cash flow by quarterTilray Brands: free cash flow by quarter−$46.2MQ2 FY25−$20.2MQ3 FY25−$19.1MQ4 FY25−$1.3MQ1 FY26−$8.5MQ2 FY26−$21.9MQ3 FY26−$37.3MQ4 FY26−$16.5MQ1 FY27
Operating cash flow less capital spending.
Tilray Brands: operating cash flow against capital spendingTilray Brands: operating cash flow against capital spendingOperating cash flowCapital spending−$40.7M$5.4MQ2 FY25−$5.8M$14.4MQ3 FY25−$12.8M$6.3MQ4 FY25−$1.3M$0Q1 FY26−$8.5M$0Q2 FY26−$21.9M$0Q3 FY26−$37.3M$0Q4 FY26−$16.5M$0Q1 FY27
Latest (Q1 FY27): Operating cash flow −$16.5M, Capital spending $0.

Capital allocation, year by year

Tilray Brands: where the cash came from (up) and went (down), by fiscal yearTilray Brands: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsFY22: Operating cash flow −$177MFY22: Net borrowing −$119MFY22: Shares issued $263MFY22: Asset sales $12.2MFY22: Capital spending −$34.1MFY22: Acquisitions $326K$275MFY22FY23: Operating cash flow $7.9MFY23: Net borrowing −$58.2MFY23: Shares issued $130MFY23: Asset sales $4.3MFY23: Capital spending −$20.8MFY23: Acquisitions −$26.7M$142MFY23FY24: Operating cash flow −$30.9MFY24: Net borrowing −$94.0MFY24: Shares issued $8.6MFY24: Asset sales $8.5MFY24: Capital spending −$29.2MFY24: Acquisitions −$60.6M$17.1MFY24FY25: Operating cash flow −$94.6MFY25: Net borrowing −$14.1MFY25: Shares issued $161MFY25: Asset sales $6.8MFY25: Capital spending −$32.9MFY25: Acquisitions −$18.1M$168MFY25FY26: Operating cash flow −$69.1MFY26: Net borrowing −$3.8MFY26: Shares issued $158MFY26: Asset sales $3.5MFY26: Acquisitions −$53.7M$161MFY26
Over these 5 years operating cash flow totalled −$364M; the largest uses were operating cash flow ($372M) and net borrowing ($289M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$218M
Debt$127M
Net cash$91.3M
Cash runway2.6 years

Tilray Brands is burning cash: its operations consume cash, a free cash flow of −$84.3M a year at the current rate against $218M of cash and investments: a runway of about 2.6 years before any new financing.

Where the cash came from and went

Tilray Brands: sources (+) and uses (−) of cash, Q1 FY27Tilray Brands: sources (+) and uses (−) of cash, Q1 FY27Shares issued$22.3MOperating cash flow−$16.5MCash drawn (+) / kept (−)$11.0MOther investing−$8.6MOther financing−$5.8MNet borrowing (+) / repaid (−)−$2.5MExchange rates$828KAcquisitions−$720KAsset & business sales$101K
Tilray Brands: sources (+) and uses (−) of cash, TTM to Q1 FY27Tilray Brands: sources (+) and uses (−) of cash, TTM to Q1 FY27Shares issued$158MOperating cash flow−$84.3MAcquisitions−$54.4MCash drawn (+) / kept (−)$46.5MOther investing−$38.4MOther financing−$26.3MNet borrowing (+) / repaid (−)−$6.4MAsset & business sales$3.3MExchange rates$2.3M

From profit to cash

Tilray Brands: net income to operating cash flow, Q1 FY27Tilray Brands: net income to operating cash flow, Q1 FY27Net income−$40.0MStock-based pay$6.6MDeferred taxes$1.7MGains on investments$27KGains on disposals−$101KOther non-cash−$1.7MReceivables−$1.3MInventory−$27.8MPayables$20.4MPrepaid and other assets$1.0MOperating cash flow−$16.5M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY276816164166
Q4 FY265014355138
Q3 FY265017168152
Q2 FY264516165141
Q1 FY265016867151
Q2 FY254716161147

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q1 FY27−$16.5M—−$720K−$2.5M$22.3M$11.0M−$16.5M
Q4 FY26−$37.3M—−$53.7M−$2.5M$84.9M$20.2M−$37.3M
Q3 FY26−$21.9M——−$733K—−$2.8M−$21.9M
Q2 FY26−$8.5M——−$615K$50.6M$18.1M−$8.5M
Q1 FY26−$1.3M——$10K$22.5M−$43.2M−$1.3M
Q4 FY25−$12.8M−$6.3M$100K−$3.9M$21.4M−$21.7M−$19.1M
Q3 FY25−$5.8M−$14.4M—−$7.9M$28.2M−$10.3M−$20.2M
Q2 FY25−$40.7M−$5.4M−$18.2M−$1.2M$45.0M$15.5M−$46.2M

Tilray Brands: income statement and cash flow

Tilray Brands, Q1 FY27: revenue $257M (+23% year over year), operating margin -9.4%. The chart follows the revenue to costs, profit and cash.

Tilray Brands: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.