Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.6M | $20.5M | $43.1M | $179M | $405M | $513M | $628M | $627M | $789M | $821M |
| Revenue growth | — | 62.4% | 110.0% | 315.7% | 126.1% | 26.6% | 22.5% | -0.2% | 25.8% | 4.1% |
| Gross profit | $2.67M | $11.4M | $14.3M | $43.5M | $96.1M | $123M | $117M | $147M | $223M | $241M |
| Gross margin | 21.1% | 55.4% | 33.1% | 24.3% | 23.7% | 24.0% | 18.6% | 23.4% | 28.3% | 29.3% |
| Operating income | -$7.05M | -$7.50M | -$57.8M | -$139M | -$104M | -$132M | -$610M | -$1.37B | -$175M | -$2.28B |
| Operating margin | -55.7% | -36.5% | -134.1% | -77.5% | -25.7% | -25.8% | -97.1% | -218.4% | -22.1% | -277.9% |
| Net income | -$7.88M | -$7.81M | -$67.7M | -$25.0M | -$103M | -$367M | -$477M | -$1.45B | -$245M | -$2.19B |
| Net margin | -62.3% | -38.0% | -157.0% | -14.0% | -25.3% | -71.6% | -75.9% | -231.6% | -31.1% | -266.3% |
| EPS (diluted) | -$0.11 | -$0.10 | -$0.82 | -$0.18 | -$0.47 | -$1.36 | -$0.99 | -$2.35 | -$0.33 | -$2.46 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$3.32M | -$6.00M | -$46.2M | -$42.0M | -$101M | -$44.7M | -$177M | $7.91M | -$30.9M | -$94.6M |
| Capital expenditures | $488K | $10.9M | $50.2M | $156M | $98.8M | $38.9M | $34.1M | $20.8M | $29.2M | $32.9M |
| Free cash flow | -$3.81M | -$16.9M | -$96.4M | -$198M | -$199M | -$83.6M | -$211M | -$12.9M | -$60.2M | -$128M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | — | $2.32M | $487M | $96.8M | $361M | $488M | $416M | $207M | $228M | $222M |
| Total assets | — | $53.9M | $657M | $896M | $1.74B | $6.03B | $5.45B | $4.31B | $4.22B | $2.07B |
| Total liabilities | — | $58.8M | $459M | $611M | $463M | $1.56B | $1.01B | $977M | $778M | $585M |
| Long-term debt | — | $9.43M | — | — | $94.0M | $167M | $118M | — | — | — |
| Shareholders' equity | $2.53M | -$4.85M | $198M | $285M | $1.25B | $4.46B | $4.40B | $3.32B | $3.44B | $1.51B |
| Retained earnings | — | -$40.5M | -$108M | -$430M | -$113M | -$486M | -$963M | -$2.42B | -$2.66B | -$4.85B |
| Shares (wtd avg diluted) | — | — | — | 203M | 216M | 270M | 481M | 618M | 743M | 890M |
Every figure is extracted from Tilray Brands, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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