Tilray Brands (TLRY) Operating Expenses (2017 - 2026)
Tilray Brands' (TLRY) quarterly Operating Expenses came in at $107.0 million in Q2 2026, down 92.92% on a YoY basis from $1.5 billion in Q2 2025, and up 31.52% quarter-over-quarter from $81.3 million in Q1 2026.
Analysis
Tilray Brands (TLRY) Operating Expenses (2017 - 2026) Analysis & Trends
Tilray Brands (TLRY) has reported Operating Expenses for 10 consecutive years, with $107.0 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Expenses fell 92.92% year-over-year to $107.0 million; the trailing twelve-month figure through May 2026 stood at $323.5 million (down 87.18% YoY), and the FY2026 full-year result was $323.5 million, down 87.18% from the prior year.
- Operating Expenses improved to $107.0 million in Q2 2026 per TLRY's latest filing, from $81.3 million in the prior quarter.
- Across five years, Operating Expenses topped out at $1.5 billion in Q2 2025 and bottomed at $55.4 million in Q3 2025.
- Historically, Operating Expenses has averaged $293.3 million across 5 years, with a median of $97.6 million in 2024.
- The sharpest annual moves came in 2023 and 2026: Operating Expenses surged 1963.65% in 2023, then sank 92.92% in 2026.
- Over 5 years, Operating Expenses stood at $94.7 million in 2022, then retreated by 5.81% to $89.2 million in 2023, then rose by 16.0% to $103.4 million in 2024, then dropped by 22.88% to $79.8 million in 2025, then jumped by 34.09% to $107.0 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $107.0 million, $81.3 million, and $79.8 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Curaleaf Holdings | 2.66 Bn | 2.56 Bn | 169.91 Mn | 165.69 Mn |
| 2 | Trulieve Cannabis | 2.27 Bn | 1.94 Bn | 162.29 Mn | 532.81 Mn |
| 3 | Green Thumb Industries | 1.71 Bn | 1.42 Bn | 137.87 Mn | 117.91 Mn |
| 4 | Cronos | 1.18 Bn | 379.85 Mn | 28.45 Mn | 21.05 Mn |
| 5 | Glass House Brands | 666.14 Mn | 647.59 Mn | 15.77 Mn | 18.76 Mn |
| 6 | Vireo Growth | 545.10 Mn | 402.80 Mn | 95.30 Mn | 101.60 Mn |
| 7 | Tilray Brands | 470.81 Mn | 236.18 Mn | 90.52 Mn | 106.98 Mn |
| 8 | Verano Holdings | 434.44 Mn | 349.24 Mn | 99.70 Mn | 96.56 Mn |
| 9 | Canopy Growth | 406.26 Mn | 159.25 Mn | 16.08 Mn | 32.06 Mn |
| 10 | Sndl | 362.57 Mn | 230.02 Mn | 40.74 Mn | 31.60 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| May 31, 2026 | 106.98 Mn |
| Feb 28, 2026 | 81.34 Mn |
| Nov 30, 2025 | 79.78 Mn |
| Aug 31, 2025 | 55.38 Mn |
| May 31, 2025 | 1.51 Bn |
| Feb 28, 2025 | 811.94 Mn |
| Nov 30, 2024 | 103.44 Mn |
| Aug 31, 2024 | 96.28 Mn |
| May 31, 2024 | 98.88 Mn |
| Feb 29, 2024 | 131.49 Mn |
| Nov 30, 2023 | 89.17 Mn |
| Aug 31, 2023 | 78.56 Mn |
| May 31, 2023 | 157.14 Mn |
| Feb 28, 2023 | 1.20 Bn |
| Nov 30, 2022 | 94.67 Mn |
| Aug 31, 2022 | 69.79 Mn |
| May 31, 2022 | 460.69 Mn |
| Feb 28, 2022 | 57.91 Mn |
| Nov 30, 2021 | 88.30 Mn |
| Aug 31, 2021 | 120.32 Mn |