Tilray Brands (TLRY) Gross Margin
Tilray Brands (TLRY) currently has a gross margin of 29.1%. Margins are expanding over recent quarters. The company is a licensed cannabis producer (LP) trading on the NASDAQ.
Current Gross Margin
29.1%
Margin Trend
Expanding
Latest Quarter Margin
30.1%
Quarterly Gross Margin
| Period | Revenue | COGS | Gross Profit | Gross Margin |
|---|---|---|---|---|
| FY2026 Q3 | $257.1M | $179.6M | $77.5M | 30.1% |
| FY2026 Q2 | $281.7M | $191.2M | $90.5M | 32.1% |
| FY2026 Q1 | $206.7M | $151.8M | $55.0M | 26.6% |
| FY2025 Q4 | $217.5M | $160.0M | $57.5M | 26.4% |
| FY2025 Q3 | $209.5M | $152.0M | $57.5M | 27.4% |
| FY2025 Q2 | $224.5M | $156.9M | $67.6M | 30.1% |
| FY2025 Q1 | $185.8M | $133.8M | $52.0M | 28.0% |
| FY2024 Q4 | $210.9M | $149.7M | $61.2M | 29.0% |
| FY2024 Q3 | $200.0M | $140.3M | $59.7M | 29.8% |
| FY2024 Q2 | $229.9M | $147.5M | $82.3M | 35.8% |
| FY2024 Q1 | $188.3M | $138.9M | $49.4M | 26.2% |
| FY2023 Q4 | $193.8M | $146.4M | $47.4M | 24.5% |
Frequently Asked Questions
What is TLRY's current gross margin?+
Gross margin for Tilray Brands is calculated as (revenue minus cost of revenue) divided by revenue, expressed as a percentage. It measures how efficiently the company converts sales into gross profit before operating expenses. Higher margins indicate better pricing power or lower production costs.
What is a good gross margin for cannabis companies?+
Cannabis gross margins vary widely by sub-sector. Retailers typically see 40-55%, vertically integrated MSOs 45-60%, and LPs 20-45%. Tilray Brands's margin should be compared to peers in the same sub-sector for meaningful context. Margins above 50% generally indicate strong pricing power.
Why do TLRY's margins change quarter to quarter?+
Gross margin fluctuations for Tilray Brands can result from changes in product mix, pricing pressure from competition, input cost changes (e.g., energy, labor), inventory write-downs, or scaling into new markets where initial costs are higher. Seasonal harvest patterns can also affect margins for cultivators.