Tilray Brands, Inc.
TLRY · Medicinal Chemicals & Botanical Products · 116.5M shares · +32%/yr ↑ dilution · EDGAR filings ↗
Reference price $6.94 · est. market cap ~$809M — last insider sale, 2026-04-21 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D42Cannabis + beverage company with deep losses and impairments, adequately liquid.
Strengths
- Adequate liquidity — current ratio 2.5 (82nd)
Risks
- Deep losses, impairments — operating margin -278%, ROE -145% (4th)
- Weak coverage — interest coverage -55
- Cannabis-market and integration risk — per 10-K
Notable findings
- No interest coverageInterest coverage -55.23 (cannot cover interest)
- Net lossNet loss (net margin -266.3%)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +32%/yr over 4y (dilution, book value/share -89%)
- Strong balance sheetStrong balance sheet — $266M cash & investments
- Notable holderHeld by 3 notable fund(s): CITADEL ADVISORS LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
29.3%
Operating margin
-277.9%
Net margin
-266.3%
Return on equity
-144.7%
Return on assets
-105.4%
Revenue growth (QoQ)
-5.0%
Interest coverage
-55.2×
Current ratio
2.5×
Tangible book value
$738M
Cash & investments
$266M
Stock comp / revenue
3.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-21 | Hopkinson David G. | Sell | 34K | $6.94 |
| 2026-01-07 | Cohen Steven Michael | Option exercise | 12K | $8.99 |
| 2025-07-31 | SIMON IRWIN D | Option exercise | 706K | $0.58 |
| 2025-07-31 | SIMON IRWIN D | Tax withheld | 374K | $0.58 |
| 2025-07-31 | Merton Carl A | Option exercise | 94K | $0.58 |
| 2025-07-31 | Merton Carl A | Tax withheld | 50K | $0.58 |
| 2025-07-31 | Gendel Mitchell | Option exercise | 94K | $0.58 |
| 2025-07-31 | Gendel Mitchell | Tax withheld | 50K | $0.58 |
| 2025-07-31 | Gendel Mitchell | Buy | 6.0K | $0.58 |
| 2025-07-31 | FALTISCHEK DENISE M | Option exercise | 94K | $0.58 |
| 2025-07-31 | FALTISCHEK DENISE M | Tax withheld | 50K | $0.58 |
| 2025-07-30 | FALTISCHEK DENISE M | Option exercise | 261K | $0.61 |
| 2025-07-30 | FALTISCHEK DENISE M | Tax withheld | 138K | $0.61 |
| 2025-07-30 | Herhalt Johann Michael | Option exercise | 124K | $0.61 |
| 2025-07-30 | Herhalt Johann Michael | Tax withheld | 66K | $0.61 |
| 2025-07-30 | Looney Thomas P. | Option exercise | 124K | $0.61 |
| 2025-07-30 | Hopkinson David G. | Option exercise | 124K | $0.61 |
| 2025-07-30 | Clanachan David F | Option exercise | 124K | $0.61 |
| 2025-07-30 | Clanachan David F | Tax withheld | 66K | $0.61 |
| 2025-07-30 | Persofsky Renah | Option exercise | 124K | $0.61 |
| 2025-07-30 | Persofsky Renah | Tax withheld | 66K | $0.61 |
| 2025-07-30 | Gendel Mitchell | Option exercise | 244K | $0.61 |
| 2025-07-30 | Gendel Mitchell | Tax withheld | 129K | $0.61 |
| 2025-07-30 | Merton Carl A | Option exercise | 167K | $0.61 |
| 2025-07-30 | Merton Carl A | Tax withheld | 88K | $0.61 |
| 2025-07-30 | SIMON IRWIN D | Option exercise | 1.2M | $0.61 |
| 2025-07-30 | SIMON IRWIN D | Tax withheld | 624K | $0.61 |
| 2025-07-30 | SIMON IRWIN D | Buy | 165K | $0.61 |
| 2025-07-30 | Merton Carl A | Buy | 34K | $0.60 |
| 2025-06-02 | SIMON IRWIN D | Option exercise | 1.2M | $0.41 |
| 2025-06-02 | SIMON IRWIN D | Tax withheld | 648K | $0.41 |
| 2025-06-02 | Merton Carl A | Option exercise | 174K | $0.41 |
| 2025-06-02 | Merton Carl A | Tax withheld | 96K | $0.41 |
| 2025-06-02 | Gendel Mitchell | Option exercise | 231K | $0.41 |
| 2025-06-02 | Gendel Mitchell | Tax withheld | 118K | $0.41 |
| 2025-06-02 | FALTISCHEK DENISE M | Option exercise | 249K | $0.41 |
| 2025-06-02 | FALTISCHEK DENISE M | Tax withheld | 127K | $0.41 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-09 | 3.02 | filing ↗ |
| 2026-04-21 | OtherExhibits | filing ↗ |
| 2026-04-15 | Material agreementExhibits | filing ↗ |
| 2026-04-15 | 3.02 | filing ↗ |
| 2026-04-01 | ResultsExhibits | filing ↗ |
| 2026-03-02 | Material agreementAcquisition/dispositionOtherExhibits | filing ↗ |
| 2026-01-08 | ResultsExhibits | filing ↗ |
| 2025-11-26 | 3.035.03OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-09 | 2026-06-03 | 0001140361-26-024650 ↗ |
| 8-K | 2026-04-21 | 2026-04-21 | 0001140361-26-015921 ↗ |
| 8-K | 2026-04-15 | 2026-04-15 | 0001140361-26-014692 ↗ |
| 8-K | 2026-04-15 | 2026-04-08 | 0001140361-26-014638 ↗ |
| 10-Q | 2026-04-01 | 2026-02-28 | 0001437749-26-010907 ↗ |
| 8-K | 2026-04-01 | 2026-04-01 | 0001171843-26-002136 ↗ |
| 8-K | 2026-03-02 | 2026-03-02 | 0001437749-26-006389 ↗ |
| 10-Q | 2026-01-08 | 2025-11-30 | 0001437749-26-000902 ↗ |
| 8-K | 2026-01-08 | 2026-01-08 | 0001171843-26-000146 ↗ |
| 8-K | 2025-11-26 | 2025-11-26 | 0001437749-25-036448 ↗ |
| 8-K | 2025-11-19 | 2025-11-19 | 0001437749-25-035739 ↗ |
| 8-K | 2025-11-17 | 2025-11-17 | 0001437749-25-035455 ↗ |