Tilray Brands (NASDAQ:TLRY) shares plunged more than 11% following the release of its fiscal second quarter 2025 earnings report, where sales fell short of estimates.
The company reported net revenue of $211 million for the quarter, marking a 9% increase year-over-year but falling short of analysts’ expectations of $216.3 million.
The company also posted a net loss of $85.3 million for the quarter. This included $75 million in non-cash expenses, such as foreign exchange losses and stock-based compensation and $8 million in one-time non-recurring costs.
Adjusted loss per share was breakeven, ahead of the loss of $0.01 per share expected.
While Tilray's beverage segment saw a revenue increase of 36% to $62 million, its cannabis sales decreased by 2.1% to $65.7 million.
“As we enter the second half of the year, we remain committed to delivering on our financial guidance and driving shareholder value,” Tilray CEO Irwin Simon said in a statement.
Tilray shares were on track to close down 11.7% at $1.21 on Friday.