Tilray Brands (TLRY) shares declined Wednesday despite reporting record fiscal 2026 net revenue of $915.5 million. This total represents an 11% increase from the previous year. Fourth-quarter revenue rose 25.5% year-over-year to $281.7 million, surpassing analyst expectations.
A significant profitability miss drove the stock lower. Tilray posted a fourth-quarter net loss of $49.6 million, or $0.43 per share. This loss was substantially wider than the consensus estimate of $0.01 per share.
Ongoing GAAP net losses and negative cash flow contributed to the negative investor reaction.