Earnings Live: Complete Tilray Brands (TLRY) 4Q Coverage
Tilray Brands (Nasdaq: TLRY) is set to report its Q4 fiscal 2025 earnings today, focusing on its strategic shift towards higher-margin international medical cannabis and beverage consolidation. Key metrics to watch include revenue estimates of $233.29 million and EPS of $0.00. Investors will be keen on cash flow, profitability, and market share recovery in Canada, especially after recent EPS beats. The company's performance in Germany and its beverage strategy will also be critical for future growth projections.
Tilray Brands (Nasdaq: TLRY) reports Q4 fiscal 2025 earnings after the market closes today. The cannabis and beverage company has been navigating volatile end-markets while executing a strategic shift toward higher-margin international medical cannabis and beverage consolidation. This report matters as it will test whether Tilray’s cost-cutting, global distribution scale, and diversified portfolio can return the business to profitable growth. With Germany’s medical legalization, U.S. beverage expansion, and THC innovation in play, investors will be focused on margins, cash burn, and FY26 outlook.
What Wall Street Projects
Quarterly estimates:
– Revenue: $233.29 million
– EPS (Normalized): $0.00
Full-Year 2025 Consensus Estimates:
– FY2025 Revenue: $830.32 million
– FY2025 EPS: -$0.02
This represents a slight decline in topline vs. FY2024’s $843 million (-1.5%) and a modest improvement from FY2024 EPS of -$0.16.
5 Keys to Watch Tonight
International Medical Cannabis Momentum
Management emphasized strong Q3 growth in Germany, Italy, and Poland, with German flower sales up 79% YoY post-legalization. Tilray is actively reallocating supply to Germany due to higher margins.
Project 420 Integration and Beverage Strategy
Beverage gross margins expanded to 36% in Q3, but topline was muted due to SKU rationalization. Analysts will watch for signs of stabilization and incremental growth in high-potential brands like Shock Top, SweetWater, and Montauk.
Hemp-Derived THC and Wellness Channel Growth
Tilray is now distributing hemp-derived THC drinks in 10 U.S. states and 1,000 stores. Management views this as a multimillion-dollar opportunity, with potential upside if federal regulation evolves favorably.
Cash Flow and Profitability Discipline
While adjusted EPS has hovered near breakeven, investors will scrutinize cash flow usage, which was -$5.8M in Q3, and management’s ability to reduce capex, legal settlements, and working capital drag.
Canadian Cannabis Market Share Trade-Offs
Tilray’s margin-driven decision to shift away from lower-margin vape and pre-roll SKUs has hit Canadian sales. Any update on volume trends or market share recovery will be key to modeling FY2026 growth.
How Tilray Brands Performed After Recent Quarterly Earnings Releases
While Tilray has delivered four straight EPS beats, the stock’s reaction has been inconsistent — with muted moves unless tied to strategic clarity.
| Quarter | EPS Surprise | 1-Day Move | 7-Day Move | 14-Day Move |
|---|---|---|---|---|
| Q3 FY2025 | +0.03 | -0.4% | +2.0% | +0.9% |
| Q2 FY2025 | +0.01 | -3.5% | -6.8% | -7.2% |
| Q1 FY2025 | +0.02 | -1.6% | -2.4% | -0.5% |
| Q4 FY2024 | +0.05 | +7.9% | +5.4% | +8.7% |
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