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Feb 28
Tilray Q3 2025 Earnings Report
Expected Revenue:$209M
-8.8% YoY
Expected EPS:-$0.0296
+39.3% YoY
Key Takeaways
Tilray Brands faced a steep net loss in Q3 FY2025 driven by a $700M non-cash impairment. However, the company improved gross margins, continued cost-saving initiatives, and expanded its hemp-derived THC beverage distribution.
Posted $793.5M net loss due to $700M non-cash impairment charges.
Revenue totaled $185.8M, down slightly from the prior year.
Cannabis gross margin increased to 41%, the highest in almost two years.
Distribution of hemp-derived THC drinks expanded across 10 U.S. states.
Tilray
Tilray
Tilray Revenue by Segment
Revenue by Segment
Cannabis Revenue
CapyFin.comBeverage Revenue
CapyFin.comDistribution Revenue
CapyFin.comWellness Revenue
CapyFin.com Forward Guidance
Tilray updated FY2025 revenue guidance downward, factoring in SKU rationalization and strategic shifts.
Positive Outlook
- Maintained strong cash position of $248M.
- Reduced total debt by $71M during the quarter.
- Net debt now less than 1x trailing twelve-month EBITDA.
- Expansion of hemp-derived THC beverage distribution across 10 U.S. states.
- Strong cannabis gross margins driven by international focus.
Challenges Ahead
- Revenue impacted by $13.2M due to SKU rationalization.
- Lower overall cannabis revenue from paused activity in margin-dilutive categories.
- Free cash flow remains negative at -$20M.
- Adjusted EBITDA down from prior year.
- Updated revenue guidance down to $850M–$900M from previous expectations.
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Key Statistics
Market Cap
$714M
P/E Ratio
-0.63
Sector
Process Industries
Industry
Agricultural Commodities Or Milling
52-Week High
$1.92
52-Week Low
$0.342
Adjusted EBITDA
$9.04M
Gross Margin
28%
Cannabis Gross Margin
41%