{ "ok": true, "cik": "1731348", "ticker": "TLRY", "name": "Tilray Brands, Inc.", "filings": [ { "form": "DEF 14A", "filed": "2026-09-28", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1731348/000114036126037827/0001140361-26-037827-index.htm" }, { "form": "8-K", "filed": "2026-09-14", "items": [ "3.02 Unregistered Sales of Equity Securities" ], "url": "https://www.sec.gov/Archives/edgar/data/1731348/000114036126036507/0001140361-26-036507-index.htm" }, { "form": "8-K", "filed": "2026-08-10", "items": [ "3.02 Unregistered Sales of Equity Securities" ], "url": "https://www.sec.gov/Archives/edgar/data/1731348/000114036126032052/0001140361-26-032052-index.htm" }, { "form": "10-K", "filed": "2026-07-28", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1731348/000143774926024698/0001437749-26-024698-index.htm" }, { "form": "8-K", "filed": "2026-07-28", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1731348/000117184326004944/0001171843-26-004944-index.htm" }, { "form": "8-K", "filed": "2026-06-30", "items": [ "3.02 Unregistered Sales of Equity Securities" ], "url": "https://www.sec.gov/Archives/edgar/data/1731348/000114036126026966/0001140361-26-026966-index.htm" } ], "events12m": 15, "healthWatch": { "window": "last 12 months", "since": "2025-09-29", "signals": [], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001731348.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1731348" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up Tilray Brands, Inc. ($TLRY). Last filing: DEF 14A, 2026-09-28. 15 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2026-05-31", "revenue": 915454000, "revenueGrowth1y": 0.11462799019613801, "revenueGrowthPerYear": 0.0986387817031733, "yearsOfData": 5, "operatingMargin": -0.06884780666204965, "operatingMarginPrior": -2.7793497940482816, "netMargin": -0.13260851992563252, "operatingCashFlow": -69144000, "capitalSpending": null, "freeCashFlow": null, "researchAndDevelopment": 361000, "researchShareOfRevenue": 0.0003943398576007096, "cash": 225977000, "longTermDebt": null, "longTermDebtChange": null, "revenueHistory": [ { "fiscalYearEnd": "2022-05-31", "revenue": 628372000 }, { "fiscalYearEnd": "2023-05-31", "revenue": 627124000 }, { "fiscalYearEnd": "2024-05-31", "revenue": 788942000 }, { "fiscalYearEnd": "2025-05-31", "revenue": 821309000 }, { "fiscalYearEnd": "2026-05-31", "revenue": 915454000 } ], "totalEquity": 1614332000, "totalAssets": 2328012000, "equityRatio": 0.6934380063333007, "returnOnEquity": -0.07519952525255028, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": -1.09, "sharesOutstanding": 111832375, "bookValuePerShare": 14.435283163752894, "revenuePerShare": 8.185947942176853, "range80": { "low": 855269778.064739, "high": 1191101148.6518002, "baseline": 1029434638.3114432, "n": 4309, "band": "b01", "bandLabel": "$100M–1B", "method": "v4.1", "credibility": 0.5714285714285714, "growthYears": 5, "ownVolatility": 0.10016251522108383, "classVolatility": 0.1022985825903761, "volatility": 0.10108350001123922 }, "ifPaceHeld": { "low": 855269778.064739, "high": 1191101148.6518002 } }, "edgarette": "🔖 Exposure: revenue $915.5M (FY2026). Experience: revenue up 11.5% on the year, up 9.9% a year over 4 years; operating margin -6.9%, up from -277.9%. Soundness: equity 69.3% of assets, return on equity -7.5%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $855.3M and $1.2B next year (method v4.1: its own 5-year record of growth weighed at 57% against $100M–1B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $786.5M to $1.3B. A statistical range, not company guidance. Against peers (10 filers, $50M+ revenue, medicinal chemicals & botanical products): operating margin -6.9% against a 0.7% median; growth 11.5% against 1.7%.", "peers": { "sic": 2833, "sicDescription": "Medicinal Chemicals & Botanical Products", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "2833", "growth": [ 0.0172, 10 ], "opMargin": [ 0.0073, 10 ], "equityRatio": [ 0.3327, 8 ] }, "summary": "Tilray Brands (TLRY) grew revenue 11.5% in FY2026 to $915 million, operating margin -6.9% against a 0.7% median for medicinal chemicals & botanical products, equity 69.3% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
Tilray Brands, Inc. against its own record and its peers
Operating marginPeer median 0.7%-6.9%Revenue, on the yearPeer median 1.7%11.5%Equity of assetsPeer median 33.3%69.3%Return on equity-7.5%Gold tick: the median of 8–8 peers with $50M+ revenue in medicinal chemicals & botanical products
", "chartHorizon": null, "backtest": { "tests": 4, "hits": 4, "rate": 1, "method": "v4", "byYear": { "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ], "2026": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-29T14:16:18.271Z", "hash": "819d94dd227d704d", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Tilray Brands (TLRY) grew revenue 11.5% in FY2026 to $915 million, operating margin -6.9% against a 0.7% median for medicinal chemicals & botanical products, equity 69.3% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2026-05-31", "revenue": 915454000, "totalDebt": null, "cash": 225977000 }, "experience": { "revenueGrowth1y": 0.11462799019613801, "revenueGrowthPerYear": 0.0986387817031733, "operatingMargin": -0.06884780666204965, "operatingMarginPrior": -2.7793497940482816, "netMargin": -0.13260851992563252, "freeCashFlow": null }, "soundness": { "equityRatio": 0.6934380063333007, "returnOnEquity": -0.07519952525255028, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 2833, "sicDescription": "Medicinal Chemicals & Botanical Products", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "2833", "growth": [ 0.0172, 10 ], "opMargin": [ 0.0073, 10 ], "equityRatio": [ 0.3327, 8 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-29", "signals": [], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 855269778.064739, "high": 1191101148.6518002, "baseline": 1029434638.3114432, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4309, "sizeBand": "$100M–1B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.571, "growthYears": 5, "ownVolatility": 0.10016251522108383, "classVolatility": 0.1022985825903761, "pricedVolatility": 0.10108350001123922, "k": 3 }, "stress": { "low": 786524905.4959235, "high": 1299573492.376083, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 4, "hits": 4, "rate": 1, "method": "v4", "byYear": { "2023": [ 1, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ], "2026": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-29T14:16:18.271Z", "hash": "819d94dd227d704d", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001731348.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1731348" }, "speedCash": { "fiscalYear": 2025, "cashConversion": -0.0755, "growth3y": 0.1344, "volatility": 0.1011, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.7287, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "notyet", "inside": "Turns -7.5% of revenue into operating cash; revenue growing 13.4% a year over three years; no common dividend.", "outside": "Among $100M-1B companies: 14th percentile for cash, 68th for growth.", "emoji": "⚡", "label": "Fast, cash not yet", "plain": "growing fast, but little cash arriving so far" }, "band": "$100M-1B", "cashPctInClass": 14, "growthPctInClass": 68, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "cash", "text": "operating cash flow was negative" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2026-05-31", "operating": -69144000, "investing": -55800000, "financing": 130994000, "capitalSpending": null, "free": null, "trend": [ { "fiscalYearEnd": "2022-05-31", "operating": -177262000, "free": -211326000 }, { "fiscalYearEnd": "2023-05-31", "operating": 7906000, "free": -12894000 }, { "fiscalYearEnd": "2024-05-31", "operating": -30905000, "free": -60154000 }, { "fiscalYearEnd": "2025-05-31", "operating": -94599000, "free": -127516000 }, { "fiscalYearEnd": "2026-05-31", "operating": -69144000, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2026-05-31", "cash": 225977000, "shortTerm": 5289000, "longTerm": 6551000, "equityHoldings": null, "totalAssets": 2328012000, "ladder": null, "currentRatio": 2.21, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": -0.0755, "growth3y": 0.1344, "volatility": 0.1011, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.7287, "quadrant": { "code": "fs", "label": "Fast and steady", "plain": "growing faster than its size class, with steadier revenue" }, "compass": { "code": "notyet", "inside": "Turns -7.5% of revenue into operating cash; revenue growing 13.4% a year over three years; no common dividend.", "outside": "Among $100M-1B companies: 14th percentile for cash, 68th for growth.", "emoji": "⚡", "label": "Fast, cash not yet", "plain": "growing fast, but little cash arriving so far" }, "band": "$100M-1B", "cashPctInClass": 14, "growthPctInClass": 68, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "cash", "text": "operating cash flow was negative" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2026-05-31", "operating": -69144000, "investing": -55800000, "financing": 130994000, "capitalSpending": null, "free": null, "trend": [ { "fiscalYearEnd": "2022-05-31", "operating": -177262000, "free": -211326000 }, { "fiscalYearEnd": "2023-05-31", "operating": 7906000, "free": -12894000 }, { "fiscalYearEnd": "2024-05-31", "operating": -30905000, "free": -60154000 }, { "fiscalYearEnd": "2025-05-31", "operating": -94599000, "free": -127516000 }, { "fiscalYearEnd": "2026-05-31", "operating": -69144000, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2026-05-31", "cash": 225977000, "shortTerm": 5289000, "longTerm": 6551000, "equityHoldings": null, "totalAssets": 2328012000, "ladder": null, "currentRatio": 2.21, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }