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How Tilray Brands (TLRY) makes money

Tilray Brands (TLRY) made $257M of revenue in the first quarter fiscal 2027 (Q1 FY27), +23% from a year earlier. Beverage Alcohol Business brought in $101M (39%); Distribution Business brought in $84.3M (33%); Cannabis Segment brought in $56.1M (22%).

Drawing the Sankey…

Tilray Brands revenue by segment, Q1 FY27Tilray Brands revenue by segment, Q1 FY27Beverage Alcohol Business$101MDistribution Business$84.3MCannabis Segment$56.1MWellness Business$15.3M
Tilray Brands: revenue by line, Q3 FY25 to Q1 FY27Tilray Brands: revenue by line, Q3 FY25 to Q1 FY27Distribution BusinessBeverage Alcohol Busi…Cannabis SegmentWellness BusinessDistribution Business: $84.3M latest$84.3MBeverage Alcohol Business: $101M latest$101MCannabis Segment: $56.1M latest$56.1MWellness Business: $15.3M latestQ3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Beverage Alcohol Business went from 30% of revenue in Q3 FY25 to 39% in Q1 FY27, the largest shift in the mix.
Tilray Brands revenue by quarterTilray Brands revenue by quarter$186MQ3 FY25$225MQ4 FY25$210MQ1 FY26$218MQ2 FY26$207MQ3 FY26$282MQ4 FY26$257MQ1 FY27
Tilray Brands: where each dollar of revenue goesTilray Brands: where each dollar of revenue goesIncome tax1¢

Revenue by segment, Q1 FY27

SegmentRevenueShareQ/QY/Y
Beverage Alcohol Business$101M39.5%-4%+82%
Distribution Business$84.3M32.8%-0.8%+14%
Cannabis Segment$56.1M21.8%-21%-13%
Wellness Business$15.3M5.9%-22%+0.2%

Where each dollar of revenue goes

LineQ1 FY27% of revenue
Revenue$257M100.0%
Income tax$1.7M0.7%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q1 FY27$257M+23%
Q4 FY26$282M+26%
Q3 FY26$207M+11%
Q2 FY26$218M+3%
Q1 FY26$210M+5%
Q4 FY25$225M-2%
Q3 FY25$186M-1%

From Tilray Brands' 10-Q filed Oct 8, 2026 (on EDGAR).

Questions

How does Tilray Brands make money?

Tilray Brands (TLRY) made $257M of revenue in the first quarter fiscal 2027 (Q1 FY27), +23% from a year earlier. Beverage Alcohol Business brought in $101M (39%); Distribution Business brought in $84.3M (33%); Cannabis Segment brought in $56.1M (22%).

What is Tilray Brands' biggest business?

Beverage Alcohol Business: $101M in the first quarter fiscal 2027, 39% of revenue, +82% from a year earlier.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.