Q4 2025 Tilray Brands Inc Earnings Call Transcript
Key Points
- Tilray Brands Inc (TLRY) achieved record annual revenue of $821 million, a 4% increase year over year on a constant currency basis.
- The company reported a significant increase in international cannabis revenue, with a 71% growth year over year in Q4.
- Tilray Brands Inc (TLRY) delivered its highest gross profit to date at $241 million, an 8% increase year over year.
- The company reduced its debt by approximately $100 million, improving its net debt to EBITDA ratio to 0.3 times from 1.7 times last year.
- Tilray Brands Inc (TLRY) maintained a strong balance sheet with approximately $256 million in cash.
- The company reported a net loss of $2.2 billion for fiscal 2025, driven by non-cash impairment charges of approximately $2 billion.
- Beverage gross margin decreased to 39% from 44% in the prior year, primarily due to decreased demand and lower margin contribution from recently acquired brands.
- Cannabis net revenue decreased 9% year-over-year, largely due to a focus on maintaining and growing gross margin and a higher average selling price.
- The company faced challenges with delayed export permits, impacting international revenue in the fourth quarter.
- Adjusted free cash flow was negative $114.2 million, compared to $6.6 million in the prior year period.
Thank you for joining today's conference call to discuss Tilray Brands financial results for the fourth quarter and fiscal year 2025, ended May 31, 2025. (Operator Instructions)
I will now turn the call over to Ms. Barron Norrata, Tilray Brands Chief Corporate Affairs and Communications Officer. Thank you. You may now begin.
Thank you, operator and good afternoon everyone. By now you should have access to the earnings press release, which is available on the investors section of the Tilray Brands website at tillray.com and has been filed with SEC and SEDAR. Please note that during today's call we will be referring to various non-GAAP financial measures that can provide useful information for investors.
However, the presentation of this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with GAAP. The earnings press release contains a reconciliation of each non-GAAP financial
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