Tilray Brands 2026 Q2 Earnings 58.6% EPS Improvement and 49% Net Loss Reduction

Tilray Brands (TLRY) reported fiscal 2026 Q2 earnings on Jan 8, 2026, with revenue rising 3.1% to $217.51 million and a 49% reduction in net loss to -$43.51 million. The company exceeded revenue expectations by $6.36 million, while EPS improved by 58.6% to -$0.41. CEO guidance highlighted stabilization in H2 2026 revenue growth as international operations scale, though specific targets were not disclosed.

Revenue

Tilray’s total revenue grew to $217.51 million in 2026 Q2, a 3.1% increase from $210.95 million in 2025 Q2. This performance outpaced Wall Street’s $211.15 million consensus and reflects the company’s strategic focus on international cannabis markets, which saw 36% year-over-year revenue growth to $68 million.

Earnings/Net Income

The company narrowed its net loss to -$43.51 million in 2026 Q2, a 49% improvement from the -$85.28 million loss in 2025 Q2. Earnings per share improved to -$0.41 from -$0.99, marking a 58.6% reduction in losses. This progress underscores Tilray’s operational efficiency initiatives and cost-optimization strategies, though profitability remains a long-term goal. The 58.6% EPS improvement and 49% net loss reduction signal tangible progress toward financial stability.

Post-Earnings Price Action Review

Following the earnings release, Tilray’s stock surged 1.6% during regular trading hours and gained an additional 6.9% in after-hours trading, closing at $9.13. Year-to-date, the stock has risen 2.55%, outperforming the broader market’s 1.45% gain. Institutional investors, including Millennium Management and Sassicaia Capital, increased stakes in Q3 2025, with institutional ownership reaching 9.35%. Analysts upgraded the stock to "Hold" with a $20 target price, reflecting optimism about regulatory tailwinds and international expansion.

CEO Commentary

The CEO emphasized operational efficiency and market expansion as key drivers, noting challenges from regulatory shifts and competitive pressures. Strategic priorities include scaling international cannabis operations and optimizing production costs. Leadership remains cautiously optimistic, with a focus on disciplined execution to achieve EBITDA positivity by Q4 2026.

Guidance

Management anticipates revenue stabilization in H2 2026 as international operations scale, though no specific targets were provided. Forward-looking commitments include maintaining CAPEX within 10% of annual revenue and achieving EBITDA positivity by year-end.

Additional News

Institutional investors increased stakes in Tilray’s stock during Q3 2025, with Millennium Management raising its position by 281% to 4.9 million shares. Analysts upgraded the stock to "Hold," citing potential regulatory changes and international growth opportunities. Strategic partnerships in beverage alcohol and wellness sectors were highlighted as key drivers for long-term value creation.

The company’s stock closed 65% higher on Dec 13, 2025, amid speculation about U.S. marijuana rescheduling. While the Altman Z-Score of -5.02 signals financial distress, the P/S ratio of 1.05 and P/B ratio of 0.66 suggest undervaluation relative to peers.

Note:

Official Q2 2026 figures (revenue $217.51M, EPS -$0.41, net loss -$43.51M) are provided but not incorporated into guidance or commentary due to absence in source remarks.