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% YoY from $1.5 billion in Q2 2025, and up 31.52% on a QoQ basis from $81.3 million in Q1 2026.
Tilray Brands (TLRY) Operating Expenses (2017 - 2026) Analysis & Trends
Tilray Brands (TLRY) has 10 years of Operating Expenses data on file, last reported at $107.0 million in Q2 2026.
- Quarterly Operating Expenses fell 92.92% year-over-year to $107.0 million in Q2 2026, while the trailing twelve-month figure through May 2026 was $323.5 million (down 87.18% YoY) and the FY2026 annual result came in at $323.5 million, down 87.18% from the prior year.
- Operating Expenses grew to $107.0 million in Q2 2026, from $81.3 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $1.5 billion in Q2 2025 to a low of $55.4 million in Q3 2025.
- A 5-year average of $293.3 million and a median of $97.6 million in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2023 — Operating Expenses jumped 1963.65% — and 2026, when it plunged 92.92%.
- Tracing TLRY's Operating Expenses over 5 years: stood at $94.7 million in 2022, then declined by 5.81% to $89.2 million in 2023, then grew by 16.0% to $103.4 million in 2024, then decreased by 22.88% to $79.8 million in 2025, then surged by 34.09% to $107.0 million in 2026.
- The last three Operating Expenses figures came in at $107.0 million (Q2 2026), $81.3 million (Q1 2026), and $79.8 million (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Haleon | 43.91 Bn | 42.95 Bn | - | - |
| 2 | Teva Pharmaceutical Industries | 42.98 Bn | 39.32 Bn | 2.15 Bn | 1.29 Bn |
| 3 | Zoetis | 31.53 Bn | 29.86 Bn | 1.05 Bn | 215.00 Mn |
| 4 | Takeda Pharmaceutical | 28.61 Bn | 22.81 Bn | 5.10 Bn | -2.85 Bn |
| 5 | United Therapeutics | 22.16 Bn | 19.49 Bn | 683.80 Mn | 452.50 Mn |
| 6 | Viatris | 18.74 Bn | 17.85 Bn | 1.46 Bn | 1.45 Bn |
| 7 | Neurocrine Biosciences | 15.51 Bn | 15.12 Bn | 935.80 Mn | 807.50 Mn |
| 8 | Elanco Animal Health | 11.76 Bn | 11.23 Bn | 798.00 Mn | 550.00 Mn |
| 9 | Dr Reddys Laboratories | 10.12 Bn | 9.95 Bn | - | - |
| 10 | Tilray Brands | 513.87 Mn | 279.24 Mn | 90.52 Mn | 106.98 Mn |
Historic Data
Download 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 |