Tilray Brands’ hit a company revenue record in Q3, generating $207 million in the quarter, but there was little help from the global cannabis firm’s bev-alc brands. Tilray’s bev biz recorded $42.6 million in revenue in Q3 of its FY2026, down from $55.9 million in FY25, according to the company’s financial report. Gross profit ($13.6 million, down from $19.9 million) and gross margin (32%, down from 36%) also declined compared to the same 3-month period in FY25. Part of that loss was intentional, as the company cut several SKUs through Project 420, which succeeded in cutting $33 million in annual costs. Tilray carved out $6.2 million of those savings in Q3, CEO Irwin Simon shared in an earnings call Wednesday morning. “We're building a more focused, higher-performing portfolio. We're prioritizing fewer, bigger, better innovations aligned with consumer demand,” Simon told investors and analysts. Tilray CFO Carl Merton added that the division’s margin “represents the bottom” of what the company expects to achieve, and should improve as it continues to “do work” to “keep costs at a reasonable level versus where our volume is.” Helping with those costs in the future will be expected supply chain advantages from Tilray’s impending licensing deal with Carlsberg to produce some of the Danish brewer’s offerings for the U.S. market, starting in January 2027; and its recent acquisition of much of Scotland-based BrewDog’s business in the UK, Ireland, Australia and the U.S. “This transaction positions Tilray at approximately $1.2 billion global revenue company on an annualized basis, and meaningfully strengthens our long-term growth profile,” Simon said. 🎁 Not an Insider? Enjoy this free gift link to read the full story. | 
