Tilray Brands (TLRY) Operating Expenses (2017 - 2026)
Tilray Brands (TLRY) posted Operating Expenses of $81.3 million for Q1 2026, up 1.96% on a QoQ basis from $79.8 million in Q4 2025, and down 89.98% year-over-year from $811.9 million in Q1 2025.
Tilray Brands (TLRY) Operating Expenses (2017 - 2026) Analysis & Trends
Tilray Brands' Operating Expenses history runs 10 years deep, the most recent figure standing at $81.3 million for Q1 2026.
- Quarterly Operating Expenses fell 89.98% year-over-year to $81.3 million in Q1 2026, while the trailing twelve-month figure through Feb 2026 was $1.7 billion (up 55.61% YoY) and the FY2025 annual result came in at $2.5 billion, up 533.84% from the prior year.
- Operating Expenses was $81.3 million for Q1 2026 at Tilray Brands, up from $79.8 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.
- A 5-year average of $304.3 million and a median of $96.3 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 slumped 89.98%.
- Tilray Brands' 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 increased by 1.96% to $81.3 million in 2026.
- Business Quant data shows TLRY's Operating Expenses at $81.3 million in Q1 2026, $79.8 million in Q4 2025, and $55.4 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Haleon | 88.07 Bn | 86.20 Bn | - | - |
| 2 | Teva Pharmaceutical Industries | 35.75 Bn | 32.01 Bn | 1.97 Bn | 1.00 Bn |
| 3 | Zoetis | 31.84 Bn | 29.90 Bn | 1.62 Bn | 788.00 Mn |
| 4 | Takeda Pharmaceutical | 27.18 Bn | 23.12 Bn | 4.39 Bn | 12.58 Bn |
| 5 | United Therapeutics | 23.09 Bn | 20.93 Bn | 648.10 Mn | 455.70 Mn |
| 6 | RedHill Biopharma | 21.32 Bn | 21.32 Bn | - | - |
| 7 | Viatris | 19.96 Bn | 18.16 Bn | 1.16 Bn | 1.24 Bn |
| 8 | Neurocrine Biosciences | 17.66 Bn | 16.34 Bn | 800.70 Mn | 621.10 Mn |
| 9 | Elanco Animal Health | 12.44 Bn | 12.02 Bn | 785.00 Mn | 494.00 Mn |
| 10 | Tilray Brands | 439.44 Mn | 379.24 Mn | 54.95 Mn | 81.34 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |
| May 31, 2021 | 96.19 Mn |