Tilray reports $65.7 million from cannabis sales in Q2 2025

| Sarah Clark

Tilray reported a net revenue of US$211 million for the three months ending November 30, 2024 (Q2 2025), but a net loss of US$85.3 million. All figures are in US dollars. 

The company’s net revenue increased 9% compared to the same period in the previous year while net revenue increased 10% on a constant currency basis.

Of the company’s $211 million in net revenue, $65.7 million came from cannabis sales, $63.1 million from its beverage business, $67.6 million from its distribution business, and $14.6 million from its wellness business. 

Net revenue from Canadian medical cannabis sales was $6.7 million, while revenue from Canadian adult-use cannabis was $59.1 million, revenue from wholesale cannabis sales was $6.6 million, and revenue from international cannabis sales was $14.9 million. The company incurred $21.6 million in excise tax. 

Gross margins on Tilray’s cannabis sales was 35%, compared to 31% in the same quarter in the previous year. 

Irwin D. Simon, Chairman and CEO of Tilray Brands, stated, “In our fiscal second quarter, Tilray achieved strong results while making significant progress on our strategic plan. Our dedication to operational excellence has improved Gross Margins, Gross Profit, and overall profitability across our business segments, positioning us favorably for future success.”

Mr. Simon stated, “As we enter the second half of the year, we remain committed to delivering on our financial guidance and driving shareholder value. Tilray is a leading force at the forefront of the beverage industry, revitalizing the beer market, driving growth in spirits and non-alcoholic beverages, and advancing the legitimacy of cannabis for both recreational and medical use.

Through our brewpubs, we focus on bringing people together, creating exceptional experiences through entertainment, and enhancing lives through moments of connection. As I’ve said in the past, new industries are not born, they are built. To that end, we are trailblazing the future of consumer products through the infrastructure we have built. I am enthusiastic about what lies ahead, including the potential future legalization of cannabis in the U.S.”


Like the work we do at StratCann, and want to support independent media?