Tilray Brands, Inc. (NASDAQ:TLRY) shares rose in Wednesday’s premarket trading after the company reported record results for the third quarter of fiscal 2026.
The stock’s positive momentum comes as the broader market experienced gains on Tuesday, with the S&P 500 futures rising 0.8%, indicating a favorable environment for growth stocks.
Earnings Snapshot
Tilray Brands reported third-quarter adjusted earnings of 2 cents per share, beating estimates for a loss of 14 cents per share, while revenue rose to $206.7 million, topping the $201.4 million consensus estimate.
Net revenue rose 11% to a record $206.7 million in the third quarter, up from $185.8 million a year earlier.
Tilray reported 73% growth in international cannabis net revenue and a 100% increase in cannabis flower sales volume year-over-year.
The company also highlighted that its Canadian adult-use and medical cannabis net revenue combined increased by 8% year-over-year, reinforcing its leadership position in the Canadian market.
Gross profit increased 6% to a record $55.0 million in the third quarter compared to $52.0 million a year earlier. Gross margin was 27% in the third quarter compared to 28%.
In addition, the …