Tilray Posts Record FY2026 Revenue of $915.5M and Sets FY2027 Adjusted EBITDA Guidance at $68M–$75M
TLRY is trading near its 52-week low of $3.8 (7.6% above the low).
Summary
Tilray's FY2026 10-K reports record revenue of $915.5M and record adjusted EBITDA of $61.1M, with FY2027 adjusted EBITDA guidance of $68M–$75M. The company completed the BrewDog and Lyphe acquisitions, transforming its beverage and medical cannabis platforms.
Key Events · Earnings and Guidance · TLRY
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Record FY2026 Revenue and EBITDA
Revenue reached $915.5M, up 11% YoY, driven by 34% growth in international cannabis and the BrewDog acquisition. Adjusted EBITDA hit a record $61.1M, up 11%.
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FY2027 Adjusted EBITDA Guidance
Management guided FY2027 adjusted EBITDA to $68M–$75M, implying 11%–23% growth at the midpoint, signaling confidence in continued margin expansion.
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Transformative BrewDog Acquisition
The BrewDog acquisition, completed in Q4, added a global craft beer platform with pro forma annual revenue of ~$190M, expanding Tilray's beverage segment internationally.
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Strong Liquidity Position
Cash, restricted cash, and marketable securities totaled $234.6M as of May 31, 2026, providing ample runway for operations and strategic initiatives.
Analysis · TLRY · Life Sciences
Tilray's 10-K marks a definitive turnaround: revenue climbed 11% to a record $915.5 million, while adjusted EBITDA also reached a new high of $61.1 million. Looking ahead, management guided FY2027 adjusted EBITDA to $68–$75 million, underscoring its confidence in sustained profitability. The balance sheet carries $234.6 million in cash and marketable securities, and the auditor delivered a clean opinion with no going concern warning. The filing also details two transformative deals—the BrewDog acquisition, which added a global craft beer platform, and the Lyphe acquisition, expanding the company's medical cannabis footprint in the UK. With 136.2 million shares outstanding and an active ATM program, dilution remains a risk, but the dominant story is the strong operational performance and upbeat guidance.
At the time of this filing, TLRY was trading at $4.09 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $483.6M. The 52-week trading range was $3.80 to $23.20. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.