NEW YORK, January 9, 2026, 05:47 (EST) — Premarket
- TLRY rose in early premarket trading after Tilray posted fiscal Q2 results and reaffirmed its full-year profit target on an adjusted basis
- Revenue topped $217 million and cash burn narrowed, while the company said it moved to a net cash position
- Traders are watching whether the move holds at the open, with margins and the next earnings date the next checkpoints
Tilray Brands, Inc. (TLRY) shares rose nearly 9% in premarket trading on Friday after the cannabis and craft beer maker reported quarterly results after the bell. The stock was last up 8.98% at $9.95 after ending Thursday at $9.13. 1
The report lands at a touchy moment for cannabis stocks, which have swung hard on thin liquidity and shifting views on regulation, pricing and funding. For Tilray, the near-term question has been cash discipline as much as growth.
Tilray has tried to broaden away from pure cannabis by leaning on beer and pharma distribution, and investors have been forcing that strategy to prove itself quarter by quarter. A clean beat on revenue is one thing; holding margins and keeping cash burn in check is what tends to move the stock now.
Tilray said fiscal second-quarter net revenue rose 3% to $217.5 million for the period ended Nov. 30, 2025, while its net loss narrowed to $43.5 million. It reported an adjusted loss of 2 cents per share and adjusted EBITDA of $8.4 million, and it reaffirmed full-year adjusted EBITDA guidance of $62 million to $72 million; adjusted EBITDA is a proxy for operating profit that strips out interest, taxes, depreciation and amortisation and other items. Chief Executive Irwin D. Simon said, “We achieved another record quarter with net revenue reaching $218 million.” 2
On the earnings call, Tilray executives pointed to stronger international cannabis and pharma distribution results, while flagging ongoing pressure in craft beer. “We are not just a recreational cannabis company,” Simon told analysts, as the company pitched itself as a broader consumer-products platform. 3
A filing showed Tilray furnished its earnings release to the U.S. Securities and Exchange Commission late Thursday. 4
Even with Friday’s early move, Tilray’s shares are still far below their 52-week high of $23.20 hit on Oct. 9, according to MarketWatch data. The stock gained 1.56% in the regular session on Thursday, snapping a three-day losing streak. 5
But there’s a flip side. Gross margin slipped and the beverage unit is still dealing with category headwinds, while Canadian cannabis remains a price fight. If cash flow turns the wrong way, or guidance starts to look soft, the stock can give back these pops quickly.
For Friday’s session, traders will watch whether TLRY can hold above the prior close once regular trading opens and spreads tighten. The next scheduled checkpoint is the company’s next quarterly update, with market calendars listing April 7, 2026 as the next expected earnings date. 6
