Analysts expect modest growth for Tilray Brands amid cannabis policy hopes

Canadian cannabis operator Tilray Brands Inc. (NASDAQ: TLRY) is set to report fiscal Q1 2026 earnings on Thursday, October 9. Analysts forecast net revenues of $204 million, a modest 2% increase year-on-year, reflecting a cautious recovery across its core segments.

Breaking down the business, cannabis revenues are expected to rebound 6% year-on-year to $65 million, ending a four-quarter streak of declines. Wellness and distribution segments are also anticipated to post modest growth of 7% and 3% respectively. In contrast, Tilray’s alcoholic beverages division, which had previously driven growth through Q4 2024, is projected to see revenues fall 3% to $54 million.

Tilray’s shares rallied in August on speculation that the Trump administration might reclassify cannabis from Schedule I to Schedule III, a move that could open up new opportunities. Beyond regulatory hopes, Tilray has been restructuring its operations, focusing on premium product differentiation and new offerings, while expanding its European footprint with EU-GMP certified medical cannabis strains in Germany.

This article was published by Visible Alpha, part of S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.