Live: Down 55% YTD, Can Tilray Brands Rebound With Tonight's Q4 Earnings Report?

Tilray Brands’ market capitalization has slipped to about $497.5 million after shares fell 55.37% year to date, as investors await its Q4 FY2026 earnings release. The company (NASDAQ: TLRY) reports results today at 4:05 PM ET, with the earnings call at 4:30 PM ET. Shares trade at $4.03. The focus is whether CEO Irwin Simon’s FY2026 adjusted EBITDA guidance—$62 million to $72 million—holds up, after Q3 FY2026 showed a revenue beat of $206.73 million but missed consensus adjusted EPS expectations ($0.02 vs. $0.07). Beverage revenue declined and consolidated gross margin eased from 28% to 27%. Management reaffirmed guidance, flagged Middle East geopolitical risk, and completed the BrewDog acquisition for roughly £40 million in cash. Cash flow remains a pressure point, with Q3 free cash flow at -$24.19 million.