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
DateValue
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