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Net Revenue: $185.8 million, compared to $188.3 million in the prior year quarter; $193 million on a constant currency basis.
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Adjusted Net Revenue: $206 million, excluding strategic decisions impacting revenue.
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Gross Margin: Increased by 200 basis points to 28% from 26% in the prior year quarter.
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Net Loss: $793.5 million, primarily due to a $700 million noncash impairment.
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Adjusted EBITDA: $9 million, compared to $10.2 million in the prior year quarter.
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Cash and Marketable Securities: $248.4 million as of February 28, 2025.
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Net Debt: Reduced to approximately $50 million, with a net debt to adjusted EBITDA leverage ratio below 1.
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Cannabis Net Revenue: $54.3 million, would have been over $60 million without strategic decisions.
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Beverage Net Revenue: $55.9 million, would have been over $60 million without strategic decisions.
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Wellness Net Revenue: $14.1 million, a 5% increase from the prior year quarter.
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Distribution Net Revenue: $61.5 million, an 8% increase from the prior year quarter.
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Guidance for Fiscal 2025: Revised net revenue to $850 million to $900 million.
Release Date: April 08, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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Tilray Brands Inc (NASDAQ:TLRY) reported a 5% increase in gross profit and a 200 basis-point increase in gross margin to 28% compared with the prior year period.
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The company has a strong balance sheet with ample cash and marketable securities totaling $248 million.
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Tilray Brands Inc (NASDAQ:TLRY) achieved its highest cannabis gross margin in almost two years, with an 800 basis-point improvement to 41%.
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The company is expanding its beverage business, with Project 420 targeting $33 million in cost savings, of which $20.6 million has already been achieved.
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Tilray Brands Inc (NASDAQ:TLRY) is leveraging advanced technology, including AI and cryptocurrency, to enhance efficiency and drive growth.
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Tilray Brands Inc (NASDAQ:TLRY) reported a net loss of $793.5 million, primarily due to a $700 million noncash impairment related to macroeconomic conditions.
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The company’s net revenue for Q3 was $185.8 million, slightly down from $188.3 million in the previous year quarter.
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The strategic decisions to focus on margins and SKU rationalization impacted Q3 revenues, pushing approximately $13 million in sales to later quarters.
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The company faces challenges in the Canadian cannabis market due to tight regulation, price compression, and excise taxes.
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Tilray Brands Inc (NASDAQ:TLRY) is experiencing increased competition in the German market, impacting pricing and market dynamics.
