Tilray, Inc. Q2 2026 Earnings Recap

Tilray Brands reported a record second quarter for fiscal year 2026, achieving net revenue of $218 million and strong growth across its international cannabis operations, despite regulatory headwinds.

Key Takeaways

• Net revenue reached a record $218 million, surpassing analyst expectations.
• International cannabis revenue grew 51% sequentially, driven by robust demand across multiple countries.
• Successfully reduced debt by $4 million, resulting in a net cash position exceeding debt by nearly $30 million.
• Cannabis rescheduling in the U.S. positions Tilray to capitalize on federal compliance and expand its medical cannabis offerings.
• Tilray Pharma achieved its largest revenue quarter at $85 million, up 26% year-over-year, bolstered by distribution expansion and improved gross margins.