Tilray Brands (TLRY) Earnings: Q1 Fiscal 2027 Results and Next Report Date

The quarter ended August 31, 2026 and Tilray Brands published the results on October 8, 2026. Revenue and diluted EPS are shown against Q1 fiscal 2026, the same quarter a year earlier, which takes seasonal swings out of the comparison. Tilray Brands reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Tilray's fiscal year ends May 31, so Q1 fiscal 2027 is June through August 2026.
• Tilray completed a one-for-ten reverse stock split on December 2, 2025. Year-ago per-share figures on this page are Tilray's restated amounts on the post-split basis.
• Tilray bought BrewDog's business and assets in the UK, Australia and the U.S. in the fourth quarter of fiscal 2026. Those acquisitions added $55.9 million of beverage revenue in Q1 fiscal 2027 that the year-ago quarter did not have.

Source: Tilray Brands Q1 fiscal 2027 earnings release, October 8, 2026. Also in the Form 10-Q for the quarter ended August 31, 2026. Figures as reported; checked against the release on November 10, 2026.

How Tilray Brands splits revenue in its own release, under its own labels, for Q1 fiscal 2027 against Q1 fiscal 2026. Indented lines are parts of the line above them.

• Tilray Brands's Beverage business revenue was $101 million in Q1 fiscal 2027, up 82% from $55.7 million in Q1 fiscal 2026, 39% of total revenue.
• Tilray Brands's Cannabis business revenue was $56.1 million in Q1 fiscal 2027, down 13% from $64.5 million in Q1 fiscal 2026, 22% of total revenue.
• Tilray Brands's Distribution business revenue was $84.3 million in Q1 fiscal 2027, up 14% from $74.0 million in Q1 fiscal 2026, 33% of total revenue.
• Tilray Brands's Wellness business revenue was $15.3 million in Q1 fiscal 2027, flat on $15.2 million in Q1 fiscal 2026, 6% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Tilray gives no revenue or EPS outlook. Its only guidance is adjusted EBITDA for the fiscal year ending May 31, 2027, which it reaffirmed with these results.

In its Q1 fiscal 2027 release, Tilray Brands said:

“$68 million to $75 million, representing double-digit growth as compared to fiscal year 2026.”

“Historically, due to the seasonality of our business, financial results are typically more weighted toward the second half of the fiscal year, with results strengthening significantly in the fourth quarter.”

Source: Tilray Brands Q1 fiscal 2027 earnings release, Oct 8, 2026.

This is the company's own guidance as of Oct 8, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the TLRY forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net revenue and diluted net income (loss) per share, each as first reported in that quarter's release. Q1 fiscal 2026 was reported before the December 2, 2025 one-for-ten reverse split; its EPS of $0.00 is the same on both bases. Every later quarter was first reported on the post-split basis.

Tilray Brands's next report is expected around January 7, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q1 fiscal 2027 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q1 fiscal 2027 (this page), reported Oct 8, 2026

Tilray Brands reports four businesses, and beverage is now the largest. Of $257.1 million of net revenue in Q1 fiscal 2027, beverage was $101.5 million (39%), distribution $84.3 million (33%), cannabis $56.1 million (22%) and wellness $15.3 million (6%). A year earlier cannabis was 31% of revenue and beverage 27%. (Tilray Brands Q1 fiscal 2027 earnings release, Oct 8, 2026)

Beverage revenue rose to $101.5 million from $55.7 million because of BrewDog. Tilray's 10-Q says the Global BrewDog Acquisitions, completed in the fourth quarter of fiscal 2026, contributed $55.9 million of incremental revenue. Excluding them, beverage revenue fell, which Tilray attributes to industry-wide challenges across craft beer, spirits and brewpubs and lower volumes sold. (Tilray Brands Form 10-Q, Q1 fiscal 2027, Oct 8, 2026; Tilray Brands Q1 fiscal 2027 earnings release, Oct 8, 2026)

Cannabis net revenue fell to $56.1 million from $64.5 million. Gross revenue from Canadian adult-use cannabis dropped to $53.6 million from $64.1 million, which Tilray put down primarily to continued pricing pressure in flower, particularly in the mainstream and value segments where it holds significant market share. International cannabis rose to $16.2 million from $13.4 million, mainly on German medical cannabis demand, which added $2.9 million. Excise taxes of $19.1 million are deducted from cannabis revenue. (Tilray Brands Q1 fiscal 2027 earnings release, Oct 8, 2026; Tilray Brands Form 10-Q, Q1 fiscal 2027, Oct 8, 2026)

Distribution, Tilray's pharmaceutical distribution business, grew to $84.3 million from $74.0 million, driven by a 12% increase in average selling price and a 2% increase in units sold, according to the 10-Q. It carries a gross margin of 11%, against 41% in beverage and 39% in cannabis. (Tilray Brands Form 10-Q, Q1 fiscal 2027, Oct 8, 2026; Tilray Brands Q1 fiscal 2027 earnings release, Oct 8, 2026)

Tilray Brands lost $43.1 million attributable to stockholders, or $0.32 per share, in Q1 fiscal 2027, against a loss of $0.3 million, or $0.00 per share, a year earlier. The year-ago quarter included a $15.0 million gain from a change in the fair value of contingent consideration that did not recur, and this quarter carried $7.8 million of non-operating expense, net, against $3.8 million of non-operating income a year earlier. (Tilray Brands Q1 fiscal 2027 earnings release, Oct 8, 2026; Tilray Brands Form 10-Q, Q1 fiscal 2027, Oct 8, 2026)

Tilray's adjusted EPS was a loss of $0.02, against $0.03 of income a year earlier. Adjusted net income adds back $18.6 million of amortization, $6.6 million of stock-based compensation, $4.8 million of transaction costs and $2.4 million of restructuring costs, along with non-operating items and litigation costs. Operating expenses rose to $101.6 million from $55.4 million, and Tilray says $32.0 million of the increase was incremental expense from the BrewDog and Lyphe acquisitions. (Tilray Brands Q1 fiscal 2027 earnings release, Oct 8, 2026; Tilray Brands Form 10-Q, Q1 fiscal 2027, Oct 8, 2026)

Weighted average shares were 133,340,533, up 26% from 106,027,190 on a post-split basis, and Tilray had 144,936,074 shares outstanding at August 31, 2026. Tilray raised $22.3 million from share capital issued in the quarter. (Tilray Brands Q1 fiscal 2027 earnings release, Oct 8, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Tilray Brands guides to one figure: adjusted EBITDA. With Q1 fiscal 2027 it reaffirmed $68 million to $75 million for the year ending May 31, 2027, which it describes as double-digit growth over fiscal 2026. It gives no revenue or EPS outlook. (Tilray Brands Q1 fiscal 2027 earnings release, Oct 8, 2026)

Q1 adjusted EBITDA was $9.2 million, against $10.2 million a year earlier, and Tilray said it was burdened by about $1.7 million of global fuel surcharges. Tilray notes its results are typically weighted toward the second half of the fiscal year, strengthening significantly in the fourth quarter. (Tilray Brands Q1 fiscal 2027 earnings release, Oct 8, 2026)

A consensus figure is the average of the models published by the analysts who cover Tilray Brands, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Tilray Brands's own release and filings put weight on for Q1 fiscal 2027, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning TLRY is on is TLRY a buy or a sell?, what analysts expect next is on the TLRY forecast, and what the company does is on the Tilray Brands (TLRY) stock page.

Every number on this page can be traced to a document Tilray Brands published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.