Tilray Brands Reports $915.5 Million Revenue for Fiscal Year

Tilray Brands reported net revenue of $915.5 million for the fiscal year ending May 31, marking an 11% increase over the previous year. The company's growth was primarily led by its distribution business, which grew 21% to exceed $327 million in revenue. This segment includes German-based CC Pharma and focuses on the sale of wellness and pharmaceutical products in overseas markets.

While the distribution arm saw significant gains, other business units, including the beverage segment, experienced only single-digit growth. The company remains unprofitable, recording an operating loss of $63 million for the fiscal year.

CEO Irwin Simon stated that the company has built one of the industry's most comprehensive medical cannabis and pharmaceutical distribution platforms across Europe.