Tilray Brands first quarter 2027 revenue of $257M missed estimates despite 82% beverage growth

Tilray Brands reported record first quarter 2027 revenue that grew 23% year-over-year but fell short of the $267.8 million analyst consensus. The company demonstrated significant operational pivot success, with gross margins expanding by 300 basis points to 30% as high-margin beverage and international cannabis segments scaled.

Key Highlights

• Beverage net revenue surged 82% year-over-year to $101.5 million, driven by the BrewDog acquisition and segment gross margins reaching 41%.
• Cannabis revenue declined 13% to $56.1 million from $64.5 million in the prior-year period, although segment margins improved to 39%.
• Management reaffirmed full-year fiscal 2027 Adjusted EBITDA guidance of $68 million to $75 million, noting results are typically weighted toward the second half.