Tilray Brands posts $186M revenue, claims protection from new tariffs | How to order Skittles Moonrock online

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Tilray Brands, Inc. (NASDAQ: TLRY) touted expanding U.S. hemp-derived THC beverage market and improved profit margins in its core cannabis segment, despite skipping growth opportunities for better bottom line, according to its earnings release Tuesday.

The company generated $186 million in net revenue for the quarter ending Feb. 28, or $193 million in constant currency terms. It also noted that new initiatives and SKU rationalization reduced potential revenue by $13 million.

“In the third quarter, we prioritized sales quality and revenue, protected margins, reduced debt, and improved our capital structure,” CEO Irwin D. Simon said in a statement. “With a strong balance sheet and a clear vision for the future, Tilray is well positioned to capitalize on emerging opportunities.”

The company pointed to several positive developments across its business segments. Tilray increased gross margins by 800 basis points and delivered its “highest cannabis gross margins in almost two years,” Simon said. The division reportedly maintained its leadership position in Canada by sales performance while generating strong sales growth in Germany.

On the beverage front, Tilray expanded U.S. distribution of its hemp-derived THC drinks across 10 states, continuing its push into the American market through non-cannabis channels. The company also increased its “Project 420” cost savings plan to $33 million, suggesting more aggressive efficiency measures than previously announced.

Tilray recently reported slashing $58 million in convertible notes and total debt reduction of $71 million. The company noted it had $248 million available in cash and marketable securities, with Simon emphasizing that “as of today our net debt is now less than 1x EBITDA on a trailing twelve-month basis.”

The quarterly results come amid uncertain economic conditions, including recently announced international tariffs that have sent markets in a memecoin-like frenzy. Tilray conducted an analysis of potential impacts and concluded the tariffs should not affect sales, saying its American beverage brands are manufactured and distributed solely within the U.S. market, while Canadian cannabis and European operations remain similarly isolated from cross-border tariff concerns. The company’s Manitoba Harvest wellness business is currently exempt from the new tariffs, according to the release.

Simon struck a tone of disciplined growth in his comments, stating, “We will not seek sales growth merely for the sake of sales if it does not add to the bottom line and benefit our shareholders.”