Tilray Brands, Inc.
boothcheck covers Tilray Brands, Inc. (TLRY) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed July 11, 2026.
• Tilray is four businesses in one wrapper, beverage, cannabis, distribution, and wellness, and the operating tape just turned: record fiscal third-quarter net revenue of $206.7 million with 11% organic growth and a net loss narrowed to $25.2 million from $793.5 million a year earlier [Source: Q3 FY2026 earnings release, April 1, 2026]. • The capital-allocation record is the specific risk: the FY2025 10-K's own goodwill assessment wrote the beverage segment's goodwill down to nil, and the compan
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206 institutional managers reported holding TLRY in 13F filings for the quarter ended 2026-03-31. Together they hold about 9% of the company; the top 10 hold 6%. 33 opened new positions that quarter. Held by UBS, Morgan Stanley, Susquehanna International Group, among others. On the short side, 18.3M shares were sold short as of the 2026-06-15 count, about 16% of shares outstanding (4.8 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
TLRY's share count grew 150.7% over the past five years. It pays no dividend.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at TLRY over the trailing three years: 2024: 6 buys totaling $219k; 2025: 3 buys totaling $124k. 11 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
TLRY's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-27 | +27.8% | +10.1% |
| 2023-10-05 | -6.2% | -12.3% |
| 2024-01-10 | -14.1% | -16.5% |
| 2024-04-10 | -22.1% | -11.9% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
TLRY's latest 8-K filings: 2026-08-10 (items 3.02); 2026-07-28 (items 2.02, 9.01); 2026-06-30 (items 3.02); 2026-06-09 (items 3.02); 2026-04-21 (items 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.