TLRYTilray woke up with a cleaner balance sheet
Tilray’s first quarter of fiscal 2027 came in looking pretty sturdy for a company that’s spent plenty of time in the penalty box. Revenue hit a record $257 million, up 23% from a year ago, while gross margin expanded to about 30%. In other words: more sales, better economics, fewer vibes of “please don’t look too closely.”
The growth engine is getting around
The real story is that the growth wasn’t coming from just one sleepy corner of the business. Tilray said its EMEA revenue jumped 71%, helped by medical cannabis, beverage, and pharmaceutical distribution. Its beverage arm also put up $101 million in revenue and widened gross margin to 41%, while BrewDog reportedly turned profitable in the quarter. That’s the sort of cross-platform momentum management teams love to brag about because, well, it actually sounds diversified.
Debt down, flexibility up
Tilray also said it reduced outstanding debt by $42 million fiscal year-to-date and ended the quarter with a net cash position. That matters because cannabis and beverage are fun businesses until you need to refinance the whole circus. A cleaner balance sheet gives Tilray a bit more breathing room if growth cools or capital markets get grumpy.
The part investors will pin to the fridge
The company reaffirmed its fiscal 2027 adjusted EBITDA guidance of $68 million to $75 million. So the setup here is classic public-market math: if Tilray can keep growing internationally, keep beverage margins moving the right way, and keep the debt monster on a leash, the stock story gets easier to sell. Big picture: this wasn’t just a beat — it was Tilray trying to show it can be a real operator, not just a ticker with a lot of history.