Filing Flows › Tilray Brands (TLRY) › Q2 FY26
Tilray Brands (TLRY) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Jan 8, 2026
Tilray Brands (TLRY) reported revenue of $218M for the second quarter fiscal 2026 (Q2 FY26), +3% from a year earlier and +4% from the quarter before. Operating margin was -10.2%, net loss $43.5M (20.0% of revenue).
Tilray Brands, Q2 FY26: revenue $218M (+3% year over year), operating margin -10.2%, net loss $43.5M, operating cash flow −$8.5M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $218M | +4% | +3% |
| Operating profit | −$22.3M | -1165% | — |
| Net earnings | −$43.5M | -2976% | — |
| Operating cash flow | −$8.5M | — | — |
What changed
Revenue was $217.5M in Q2 FY26, up 3% year over year and up 4% from the previous quarter. Distribution Business was the largest line at 39% of revenue. Distribution Business added $17.7M year over year (up 26%), 270% of the total change. Beverage Alcohol Business declined 21%.
Gross margin was 26.4%, down 2.6 points from a year earlier. Operating costs exceeded revenue by $22.3M, an operating margin of -10.2%. Operating expenses fell 23% while revenue rose 3%. The fastest-growing cost line was Research & development (+30%). The quarter ended with a net loss of $43.5M, after a profit of $1.5M the previous quarter.
Operating cash flow was −$8.5M. Non-cash charges added back $12.3M of share-based compensation. Working capital and other items added $22.7M.
Questions
What was Tilray Brands' revenue in the second quarter fiscal 2026?
Tilray Brands (TLRY) reported revenue of $218M for the second quarter fiscal 2026 (Q2 FY26), +3% from a year earlier and +4% from the quarter before.
Was Tilray Brands profitable in the second quarter fiscal 2026?
Operating loss was $22.3M (-10.2% of revenue) and net loss $43.5M.
Source: Tilray Brands 10-Q on SEC EDGAR.