TLRY Tilray Brands, Inc. - Common Stock
$5.26
Price · May 20, 2026
Fundamentals as of Apr 1, 2026
52W Range
$0–$16
32% of range
Analyst Rating
HOLD
17 analysts
Price Target
$10
+91% upside
P/E (TTM)
-0.2
ROE
-103.1%
Net Profit Margin
-266.2%
TLRY Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$5.25
Market Cap
$456M
P/E (TTM)
-0.2
EPS (TTM)
$-2.46
Revenue (TTM)
$821M
Div Yield
—
ROE
-103.1%
Debt/Equity
0.0
52W Range
$0 – $16
TLRY Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$821M
2020-05-31
→
2025-05-31
EPS
$-2.46
2020-05-31
→
2025-05-31
Free Cash Flow
$-128M
2021-05-31
→
2025-05-31
Margins
-266.2%
2021-05-31
→
2025-05-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
TLRY
Peer Median
P/E (TTM)
-0.2
—
P/S (TTM)
0.6
1.3
P/B
0.3
0.5
EV / EBITDA
-0.1
—
Price / FCF
-3.6
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
TLRY
Peer Median
Gross Margin
29.3%
27.9%
Operating Margin
-277.9%
—
Net Profit Margin
-266.2%
-258.5%
ROA
-79.8%
-73.1%
ROE
-103.1%
-92.8%
ROIC
-142.4%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
TLRY
Peer Median
Debt / Equity
0.0
146.8
Current Ratio
2.5
4.8
Quick Ratio
1.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
TLRY
Peer Median
Revenue YoY
4.1%
—
Revenue CAGR 3Y
9.3%
—
Revenue CAGR 5Y
15.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
TLRY
Peer Median
TLRY Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
17 analysts
- Strong Buy 3 17.6%
- Buy 5 29.4%
- Hold 9 52.9%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
9 analysts · 2026-05-14
Median
$9.00
← Below all targets
$5.25
Low
$6.50
High
$24.00
Median target
$9.00
+71.3%
Mean target
$10.04
+91.1%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-2.7%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2026 | $-0.24 | $-0.14 | -0.10% |
| Dec. 31, 2025 | $-0.41 | $-0.20 | -0.21% |
| Sept. 30, 2025 | $0.00 | $-0.23 | 0.23% |
| June 30, 2025 | $-13.00 | $-0.24 | -12.8% |
| March 31, 2025 | $-0.96 | $-0.41 | -0.55% |
Peer Comparison Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| TLRY | $456M | -0.2 | 4.1% | -266.2% | -103.1% | 29.3% |
| SNDL | — | — | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2020 | 2019 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $821M | $789M | $627M | $628M | $513M | $210M | $405M | $167M | $179M | $43M | $21M | |
| Cost of Revenue | $581M | $566M | $480M | $512M | $390M | $186M | $309M | $190M | $136M | $29M | $9M | |
| Gross Profit | $241M | $223M | $147M | $117M | $123M | $25M | $96M | $-23M | $44M | $14M | $11M | |
| R&D Expense | $284.0K | $635.0K | $682.0K | $2M | $830.0K | $4M | $2M | $9M | $1M | $6M | $3M | |
| SG&A Expense | $167M | $167M | $165M | $163M | $112M | $86M | $94M | $111M | $76M | $49M | $7M | |
| Operating Expenses | $2.52B | $398M | $1.52B | $727M | $255M | · | $200M | · | $182M | · | · | |
| Operating Income | $-2.28B | $-175M | $-1.37B | $-610M | $-132M | $-201M | $-104M | $-304M | $-139M | $-58M | $-7M | |
| Interest Expense | $41M | $49M | $47M | $40M | $31M | · | $26M | · | · | · | · | |
| Interest Income | $11M | $13M | $33M | $12M | $3M | $798.0K | $6M | $149.0K | · | · | · | |
| Other Non-op | $10M | $-38M | $-67M | $198M | $-185M | $-10M | $-21M | $3M | · | $2M | $12.0K | |
| Pretax Income | $-2.30B | $-249M | $-1.45B | $-441M | $-345M | $-277M | $-109M | $-330M | $-38M | $-72M | $-8M | |
| Income Tax | $-121M | $-27M | $-7M | $-7M | $-9M | $-6M | $-8M | $-8M | $-2M | $-4M | · | |
| Net Income | $-2.19B | $-245M | $-1.45B | $-477M | $-367M | $-271M | $-103M | $-321M | $-25M | $-68M | $-8M | |
| EPS (Basic) | $-2.46 | $-0.33 | $-2.35 | $-0.99 | $-1.36 | · | $-0.47 | · | $-0.18 | · | · | |
| EPS (Diluted) | $-2.46 | $-0.33 | $-2.35 | $-0.99 | $-1.36 | · | $-0.47 | · | $-0.18 | · | · | |
| Shares (Basic) | 890,326,017 | 742,649,477 | 617,982,589 | 481,219,130 | 269,549,852 | · | 216,158,217 | · | 203,460,138 | · | · | |
| Shares (Diluted) | 890,326,017 | 742,649,477 | 617,982,589 | 481,219,130 | 269,549,852 | · | 216,158,217 | · | 203,460,138 | · | · | |
| EBITDA | $-2.28B | $-175M | $-1.37B | · | $-64M | · | · | · | · | $-54M | · |
Balance Sheet 32
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2020 | 2019 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $222M | $228M | $207M | $416M | $488M | $190M | $361M | $97M | · | $487M | $2M | |
| Short-term Investments | $35M | $32M | $242M | $0 | · | · | · | · | · | $30M | · | |
| Receivables | $121M | $102M | $86M | $95M | $87M | $29M | $38M | $36M | · | $17M | $983.0K | |
| Inventory | $271M | $252M | $201M | $246M | $256M | $94M | $140M | $88M | · | $16M | $7M | |
| Prepaid Expense | $34M | $31M | $38M | $47M | $49M | $35M | $33M | $38M | · | $4M | $545.0K | |
| Other Current Assets | · | · | · | · | $9M | · | $6M | · | · | · | · | |
| Current Assets | $689M | $678M | $773M | $804M | $884M | $347M | $582M | $259M | · | $554M | $12M | |
| PP&E (Net) | $568M | $558M | $430M | $587M | $651M | $200M | $421M | $184M | $365M | $80M | $40M | |
| PP&E (Gross) | · | · | $576M | $755M | $728M | $227M | $458M | $201M | $378M | $88M | $45M | |
| Accum. Depreciation | · | · | · | $167M | $77M | $28M | $37M | $17M | $12M | $8M | $5M | |
| Goodwill | $752M | $2.01B | $2.01B | $2.64B | $2.83B | $167M | $447M | $163M | · | · | · | |
| Intangibles | $21M | $915M | $974M | $1.28B | $1.61B | $186M | $263M | $229M | · | $4M | $934.0K | |
| Other Non-current Assets | $11M | $5M | $222.0K | $314.0K | $8M | $4M | · | $8M | · | · | · | |
| Total Assets | $2.07B | $4.22B | $4.31B | $5.45B | $6.03B | $946M | $1.74B | $896M | · | $657M | $54M | |
| Accounts Payable | $107M | $105M | $71M | $69M | $58M | $18M | $41M | $39M | · | $11M | $6M | |
| Accrued Liabilities | $103M | $92M | $78M | $57M | $113M | · | $48M | · | · | · | · | |
| Short-term Debt | $7M | $18M | $23M | $18M | $9M | · | $389.0K | · | · | · | · | |
| Current Liabilities | $280M | $299M | $433M | $280M | $401M | $181M | $120M | $92M | · | $26M | $50M | |
| Capital Leases | $21M | $16M | $8M | $11M | $18M | $15M | $4M | $15M | · | $8M | $9M | |
| Deferred Tax | $4M | $131M | $167M | $197M | $266M | $49M | $48M | $53M | · | $4M | · | |
| Other Non-current Liabilities | $855.0K | $90.0K | $215.0K | $191.0K | $4M | $5M | · | $6M | · | · | · | |
| Total Liabilities | $585M | $778M | $977M | $1.01B | $1.56B | $572M | $463M | $611M | · | $459M | $59M | |
| Long-term Debt | · | · | · | $186M | $204M | · | $94M | · | · | · | $9M | |
| Total Debt | $7M | $18M | $23M | · | $213M | · | · | · | · | · | · | |
| Common Stock | $106.0K | $83.0K | $66.0K | $53.0K | $46.0K | · | $24.0K | · | · | · | · | |
| Paid-in Capital | · | · | · | · | · | $1.10B | · | $706M | · | $302M | $32M | |
| Retained Earnings | $-4.85B | $-2.66B | $-2.42B | $-963M | $-486M | $-730M | $-113M | $-430M | · | $-108M | $-40M | |
| Treasury Stock | $0 | $0 | · | · | · | · | · | · | · | · | · | |
| AOCI | $-43M | $-43M | $-47M | $-21M | $153M | $8M | $-5M | $10M | $900.0K | $4M | $4M | |
| Stockholders' Equity | $1.51B | $3.44B | $3.32B | $4.40B | $4.46B | $374M | $1.25B | $285M | · | $198M | $-5M | |
| Liabilities + Equity | $2.07B | $4.22B | $4.31B | $5.45B | $6.03B | $946M | $1.74B | $896M | · | $657M | $54M | |
| Shares Outstanding | 106,067,875 | 831,925,373 | 656,655,455 | 532,674,887 | 446,440,641 | · | 240,132,635 | · | 210,353,982 | · | 0 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2020 | 2019 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | $155M | $68M | $19M | $36M | $16M | $17M | $4M | $2M | |
| Stock-based Comp | $24M | $32M | $40M | $36M | $17M | $30M | $18M | $32M | $22M | $21M | $139.0K | |
| Deferred Tax | $-126M | $-39M | $-34M | $-31M | $-25M | $-5M | $-13M | $-9M | $-6M | $-4M | · | |
| Amort. of Intangibles | · | · | · | · | $27M | $11M | $11M | $10M | · | $374.0K | $549.0K | |
| Restructuring | $34M | $16M | $9M | $795.0K | $0 | · | · | · | · | · | · | |
| Other Non-cash | · | · | · | · | $211M | · | · | · | · | $1M | · | |
| Operating Cash Flow | $-95M | $-31M | $8M | $-177M | $-45M | $-129M | $-101M | $-258M | $-42M | $-46M | $-6M | |
| CapEx | $33M | $29M | $21M | $34M | $39M | $45M | $99M | $74M | $156M | $50M | $11M | |
| Investing Cash Flow | $-47M | $128M | $-285M | $-22M | $46M | $-42M | $-70M | $-253M | $-135M | $-99M | $-12M | |
| Stock Issued | $161M | $9M | $130M | $263M | $103M | $85M | $74M | · | $186M | · | · | |
| Net Stock Activity | $161M | $9M | $130M | · | $103M | · | · | · | · | · | · | |
| Financing Cash Flow | $134M | $-75M | $70M | $128M | $124M | $265M | $131M | $115M | $547M | $631M | $12M | |
| Net Change in Cash | $-7M | $22M | $-209M | $-73M | $128M | $93M | $-47M | $-390M | $361M | $485M | $-5M | |
| Taxes Paid | · | · | · | · | $6M | · | $3M | · | $5M | · | · | |
| Free Cash Flow | $-128M | $-60M | $-13M | · | $-84M | · | · | · | · | $-96M | · | |
| Levered FCF | $-167M | $-104M | $-59M | · | · | · | · | · | · | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2020 | 2019 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.3% | 28.3% | 23.4% | · | 24.0% | · | · | · | · | 33.1% | · | |
| Operating Margin | -277.9% | -22.1% | -218.4% | · | -25.8% | · | · | · | · | -133.7% | · | |
| Net Margin | -266.2% | -31.1% | -231.6% | · | -71.6% | · | · | · | · | -157.0% | · | |
| Pretax Margin | -280.3% | -31.6% | -231.2% | · | -67.2% | · | · | · | · | -167.3% | · | |
| EBITDA Margin | -277.9% | -22.1% | -218.4% | · | -12.5% | · | · | · | · | -125.4% | · | |
| ROA | -79.8% | -5.8% | -29.8% | · | -10.5% | · | · | · | · | -19.1% | · | |
| ROE | -103.1% | -7.1% | -37.7% | · | -15.2% | · | · | · | · | -35.1% | · | |
| ROIC | -142.4% | -4.5% | -40.8% | · | -2.8% | · | · | · | · | -29.2% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2020 | 2019 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.5 | 2.3 | 1.8 | · | 2.2 | · | · | · | · | 21.4 | · | |
| Quick Ratio | 1.3 | 1.2 | 1.2 | · | 1.4 | · | · | · | · | 20.6 | · | |
| Debt / Equity | 0.0 | 0.0 | 0.0 | · | 0.0 | · | · | · | · | · | · | |
| LT Debt / Equity | · | · | · | · | 0.0 | · | · | · | · | · | · | |
| Interest Coverage | -55.2 | -3.5 | -29.4 | · | · | · | · | · | · | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2020 | 2019 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.2 | 0.1 | · | 0.1 | · | · | · | · | 0.1 | · | |
| Inventory Turnover | 2.2 | 2.2 | 2.2 | · | 2.2 | · | · | · | · | 2.4 | · | |
| Receivables Turnover | 7.3 | 7.8 | 6.9 | · | 8.8 | · | · | · | · | 4.9 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2020 | 2019 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 4.1% | 25.8% | -0.20% | 22.5% | 26.6% | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 9.3% | 15.4% | 15.7% | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 15.2% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2020 | 2019 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $821M | $789M | $627M | $628M | $513M | $210M | · | $167M | · | $43M | · | |
| Net Income TTM | $-2.19B | $-245M | $-1.45B | $-477M | $-367M | $-271M | · | $-321M | · | $-68M | · | |
| Market Cap | $456M | $1.50B | $1.10B | · | $7.44B | · | · | · | · | · | · | |
| Enterprise Value | $207M | $1.25B | $671M | · | $7.17B | · | · | · | · | · | · | |
| P/E | -0.2 | -5.5 | -0.7 | -4.5 | -12.3 | -8.8 | · | · | · | · | · | |
| P/S | 0.6 | 1.9 | 1.7 | · | 14.5 | · | · | · | · | · | · | |
| P/B | 0.3 | 0.4 | 0.3 | · | 1.7 | · | · | · | · | · | · | |
| P / Tangible Book | 0.6 | 2.9 | 3.3 | 5.0 | 365.6 | · | · | · | · | · | · | |
| P / Cash Flow | -4.8 | -48.5 | 138.7 | · | -166.4 | · | · | · | · | · | · | |
| P / FCF | -3.6 | -24.9 | -85.0 | · | -89.0 | · | · | · | · | · | · | |
| EV / EBITDA | -0.1 | -7.2 | -0.5 | · | -111.4 | · | · | · | · | · | · | |
| EV / FCF | -1.6 | -20.9 | -52.1 | · | -85.7 | · | · | · | · | · | · | |
| EV / Revenue | 0.3 | 1.6 | 1.1 | · | 14.0 | · | · | · | · | · | · | |
| Earnings Yield | -572.1% | -18.3% | -140.7% | -22.1% | -8.2% | -11.4% | · | · | · | · | · |
Income Statement 16
| Metric | Trend | Q3 2026 | Q2 2025 | Q1 2025 | Q4 2025 | Q3 2025 | Q2 2024 | Q1 2024 | Q4 2024 | Q3 2024 | Q2 2023 | Q1 2023 | Q4 2023 | Q3 2023 | Q2 2022 | Q1 2022 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $207M | $218M | $210M | $225M | $186M | $211M | $200M | $230M | $188M | $194M | $177M | $184M | $146M | $144M | $153M | $153M | |
| Cost of Revenue | $152M | $160M | $152M | $157M | $134M | $150M | $140M | $148M | $139M | $146M | $133M | $117M | $157M | $101M | $105M | $160M | |
| Gross Profit | $55M | $57M | $57M | $68M | $52M | $61M | $60M | $82M | $49M | $47M | $44M | $67M | $-12M | $43M | $49M | $-7M | |
| R&D Expense | $62.0K | $78.0K | $41.0K | $34.0K | $85.0K | $60.0K | $105.0K | $394.0K | $106.0K | $56.0K | $79.0K | $180.0K | $171.0K | $165.0K | $166.0K | $54.0K | |
| SG&A Expense | $50M | $51M | $41M | $38M | $39M | $46M | $44M | $44M | $40M | $43M | $41M | $48M | $39M | $38M | $41M | $41M | |
| Operating Expenses | $81M | $80M | $55M | $1.51B | $812M | $103M | $96M | $99M | $131M | $89M | $79M | $157M | $1.20B | $95M | $70M | $461M | |
| Operating Income | $-26M | $-22M | $2M | $-1.44B | $-760M | $-42M | $-37M | $-17M | $-82M | $-42M | $-34M | $-90M | $-1.21B | $-52M | $-21M | $-467M | |
| Other Non-op | $8M | $-12M | $4M | $55M | $-24M | $-33M | $13M | $-17M | $-17M | $821.0K | $-4M | $-17M | $1M | $-18M | $-33M | $61M | |
| Pretax Income | $-23M | $-40M | $-772.0K | $-1.39B | $-792M | $-83M | $-34M | $-43M | $-108M | $-50M | $-49M | $-112M | $-1.21B | $-73M | $-59M | $-462M | |
| Income Tax | $2M | $4M | $-2M | $-125M | $1M | $2M | $886.0K | $-28M | $-3M | $-3M | $7M | $-15M | $-11M | $12M | $7M | $-4M | |
| Net Income | $-27M | $-45M | $-322.0K | $-1.27B | $-789M | $-85M | $-39M | $-32M | $-93M | $-49M | $-72M | $-139M | $-1.17B | $-69M | $-73M | $-478M | |
| EPS (Basic) | $-0.24 | $-0.41 | $0.00 | $7.26 | $-8.69 | $-0.99 | $-0.04 | $-0.04 | $-0.12 | $-0.07 | $-0.10 | $-0.21 | $-1.90 | $-0.11 | $-0.13 | $-1.00 | |
| EPS (Diluted) | $-0.24 | $-0.41 | $0.00 | $7.26 | $-8.69 | $-0.99 | $-0.04 | $-0.04 | $-0.12 | $-0.07 | $-0.10 | $-0.21 | $-1.90 | $-0.11 | $-0.13 | $-1.00 | |
| Shares (Basic) | 112,675,734 | 110,343,368 | 1,060,271,899 | -162,450,546 | 90,834,279 | 86,497,456 | 875,444,828 | -1,433,748,368 | 754,439,331 | 730,769,132 | 691,189,382 | -1,184,564,832 | 615,534,670 | 611,711,377 | 575,301,374 | -914,101,717 | |
| Shares (Diluted) | 112,675,734 | 110,343,368 | 1,060,271,899 | -162,450,546 | 90,834,279 | 86,497,456 | 875,444,828 | -1,433,748,368 | 754,439,331 | 730,769,132 | 691,189,382 | -1,184,564,832 | 615,534,670 | 611,711,377 | 575,301,374 | -916,979,757 | |
| EBITDA | $-26M | $-22M | $2M | · | $-760M | $-42M | $-37M | · | $-82M | $-42M | $-34M | · | $-1.21B | $-52M | $13M | · |
Balance Sheet 28
| Metric | Trend | Q3 2026 | Q2 2025 | Q1 2025 | Q4 2025 | Q3 2025 | Q2 2024 | Q1 2024 | Q4 2024 | Q3 2024 | Q2 2023 | Q1 2023 | Q4 2023 | Q3 2023 | Q2 2022 | Q1 2022 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $205M | $247M | $265M | $222M | · | $190M | $205M | $228M | $146M | $143M | $178M | · | $165M | $190M | $491M | · | |
| Short-term Investments | $15M | $45M | $0 | $35M | · | $63M | $75M | $32M | $80M | $116M | $287M | · | $243M | $243M | · | · | |
| Receivables | $118M | $109M | $107M | $121M | · | $113M | $104M | $102M | $90M | $91M | $82M | · | $78M | $90M | $98M | · | |
| Inventory | $292M | $283M | $283M | $271M | $263M | $266M | $264M | $252M | $244M | $253M | $232M | · | $203M | $241M | $245M | · | |
| Prepaid Expense | $41M | $41M | $41M | $34M | · | $45M | $45M | $31M | $43M | $37M | $45M | · | $69M | $51M | $77M | · | |
| Current Assets | $719M | $729M | $701M | $689M | · | $707M | $726M | $678M | $631M | $642M | $829M | · | $759M | $815M | $911M | · | |
| PP&E (Net) | $543M | $550M | $560M | $568M | $538M | $554M | $555M | $558M | $579M | $615M | $495M | · | $425M | $539M | $554M | · | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | · | · | $656M | · | $599M | $695M | $727M | · | |
| Goodwill | $752M | $752M | $752M | $752M | $1.30B | $2.00B | $2.01B | $2.01B | $2.01B | $2.01B | $2.01B | · | $2.01B | $2.62B | $2.62B | · | |
| Intangibles | $23M | $22M | $25M | $21M | $847M | $867M | $909M | $915M | $930M | $953M | $968M | · | $994M | $1.21B | $1.21B | · | |
| Other Non-current Assets | $11M | $11M | $12M | $11M | · | $5M | $5M | $5M | $6M | $9M | $9M | · | $5M | $5M | $5M | · | |
| Total Assets | $2.07B | $2.10B | $2.08B | $2.07B | · | $4.19B | $4.26B | $4.22B | $4.21B | $4.33B | $4.40B | · | $4.38B | $5.47B | $5.59B | · | |
| Accounts Payable | $115M | $114M | $111M | $107M | $99M | $99M | $102M | $105M | $90M | $88M | $79M | · | $67M | $76M | $76M | · | |
| Accrued Liabilities | $70M | $83M | $92M | $103M | $89M | $88M | $91M | $92M | $71M | $76M | $130M | · | $68M | $64M | $63M | · | |
| Short-term Debt | $9M | $9M | $8M | $7M | · | $18M | $18M | $18M | $15M | $20M | $15M | · | $18M | $15M | $18M | · | |
| Current Liabilities | $258M | $259M | $268M | $280M | · | $279M | $294M | $299M | $329M | $395M | $537M | · | $470M | $427M | $273M | · | |
| Capital Leases | $17M | $18M | $19M | $21M | $16M | $17M | $17M | $16M | · | · | · | · | · | · | · | · | |
| Deferred Tax | $8M | $6M | $2M | $4M | · | $126M | $136M | $131M | $161M | $166M | $170M | · | $164M | $180M | $188M | · | |
| Other Non-current Liabilities | $164.0K | $417.0K | $626.0K | $855.0K | · | $17.0K | $99.0K | $90.0K | $210.0K | $0 | $74.0K | · | $3M | $185.0K | $179.0K | · | |
| Total Liabilities | $549M | $552M | $562M | $585M | · | $738M | $778M | $778M | $870M | $937M | $1.00B | · | $969M | $991M | $1.03B | · | |
| Total Debt | $9M | $9M | $8M | · | · | $18M | $18M | · | $15M | $20M | $15M | · | $18M | $15M | $82M | · | |
| Common Stock | $116.0K | $116.0K | $111.0K | $106.0K | · | $93.0K | $88.0K | $83.0K | $77.0K | $73.0K | $72.0K | · | $62.0K | $61.0K | $60.0K | · | |
| Retained Earnings | $-4.92B | $-4.89B | $-4.85B | $-4.85B | · | $-2.78B | $-2.70B | $-2.66B | $-2.63B | $-2.54B | $-2.49B | · | $-2.28B | $-1.11B | $-1.04B | · | |
| Treasury Stock | $0 | $0 | $0 | $0 | · | $0 | · | $0 | · | · | · | · | · | · | · | · | |
| AOCI | $-44M | $-39M | $-43M | $-43M | · | $-48M | $-40M | $-43M | $-43M | $-38M | $-44M | · | $-43M | $-121M | $-80M | · | |
| Stockholders' Equity | $1.56B | $1.58B | $1.54B | $1.51B | · | $3.47B | $3.48B | $3.44B | $3.36B | $3.37B | $3.38B | · | $3.40B | $4.47B | $4.53B | · | |
| Liabilities + Equity | $2.07B | $2.10B | $2.08B | $2.07B | · | $4.19B | $4.26B | $4.22B | $4.21B | $4.33B | $4.40B | · | $4.38B | $5.47B | $5.59B | · | |
| Shares Outstanding | 116,546,939 | 116,522,600 | 1,118,291,159 | 1,060,678,745 | 983,372,617 | 929,257,945 | 831,925,373 | 831,925,373 | 774,028,053 | 732,907,552 | 723,292,600 | · | 617,857,031 | 613,181,559 | 600,954,939 | · |
Cash Flow 14
| Metric | Trend | Q3 2026 | Q2 2025 | Q1 2025 | Q4 2025 | Q3 2025 | Q2 2024 | Q1 2024 | Q4 2024 | Q3 2024 | Q2 2023 | Q1 2023 | Q4 2023 | Q3 2023 | Q2 2022 | Q1 2022 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $34M | · | |
| Stock-based Comp | $14M | $12M | $5M | $6M | $4M | $7M | $7M | $7M | $8M | $8M | $8M | $10M | $10M | $11M | $9M | $9M | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | · | $-4M | $-17M | $-14M | $796.0K | $-13M | |
| Restructuring | $4M | $965.0K | $869.0K | $17M | $6M | $7M | $4M | $7M | $5M | $3M | $915.0K | $-1M | $3M | $8M | $0 | $0 | |
| Other Non-cash | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $-17M | · | |
| Operating Cash Flow | $-22M | $-9M | $-1M | $-13M | $-6M | $-41M | $-35M | $31M | $-15M | $-30M | $-16M | $44M | $-19M | $29M | $-46M | $-21M | |
| CapEx | · | · | · | $6M | $14M | $5M | $7M | $10M | $10M | $6M | $4M | $12M | $857.0K | $5M | $3M | $6M | |
| Investing Cash Flow | $29M | $-58M | $24M | $14M | $-119.0K | $-11M | $-49M | $45M | $28M | $81M | $-26M | $-8M | $-5M | $-271M | $-2M | $-5M | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | · | $-6M | · | · | · | · | · | |
| Stock Issued | $0 | $51M | $22M | $21M | $28M | $45M | $66M | $9M | $0 | $0 | $0 | $0 | $0 | $0 | $130M | $263M | |
| Net Stock Activity | · | · | $22M | · | · | · | $66M | · | · | · | $0 | · | · | · | $130M | · | |
| Financing Cash Flow | $-5M | $48M | $20M | $17M | $18M | $38M | $61M | $7M | $-11M | $-85M | $14M | $6M | $-2M | $-57M | $124M | $162M | |
| Net Change in Cash | $3M | $-18M | $43M | $22M | $10M | $-15M | $-23M | $82M | $1M | $-34M | $-28M | $42M | $-25M | $-300M | $75M | $137M | |
| Free Cash Flow | · | · | · | · | · | · | $-42M | · | · | · | $-20M | · | · | · | $-49M | · |
Profitability 8
| Metric | Trend | Q3 2026 | Q2 2025 | Q1 2025 | Q4 2025 | Q3 2025 | Q2 2024 | Q1 2024 | Q4 2024 | Q3 2024 | Q2 2023 | Q1 2023 | Q4 2023 | Q3 2023 | Q2 2022 | Q1 2022 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.6% | 26.4% | 27.4% | · | 28.0% | 29.0% | 29.8% | · | 26.2% | 24.5% | 25.0% | · | -8.0% | 27.8% | 31.7% | · | |
| Operating Margin | -12.8% | -10.2% | 1.0% | · | -409.0% | -20.0% | -18.3% | · | -43.6% | -21.6% | -19.4% | · | -828.9% | -35.9% | -13.8% | · | |
| Net Margin | -12.8% | -20.7% | -0.15% | · | -424.9% | -40.5% | -19.6% | · | -49.2% | -25.3% | -40.4% | · | -804.3% | -48.2% | -48.0% | · | |
| Pretax Margin | -11.2% | -18.4% | -0.37% | · | -426.5% | -39.5% | -16.9% | · | -57.3% | -25.6% | -27.5% | · | -828.8% | -50.9% | -38.2% | · | |
| EBITDA Margin | -12.8% | -10.2% | 1.0% | · | -409.0% | -20.0% | -18.3% | · | -43.6% | -21.6% | -19.4% | · | -828.9% | -35.9% | 8.4% | · | |
| ROA | -0.85% | -1.4% | -0.01% | · | · | -2.0% | -0.90% | · | -2.2% | -1.0% | -1.4% | · | -23.0% | -1.2% | -1.3% | · | |
| ROE | -1.1% | -1.8% | -0.01% | · | · | -2.5% | -1.1% | · | -2.7% | -1.2% | -1.8% | · | -29.2% | -1.6% | -1.7% | · | |
| ROIC | -1.8% | -1.5% | -0.26% | · | · | -1.2% | -1.1% | · | -2.4% | -1.3% | -1.2% | · | -34.9% | -0.97% | -0.52% | · |
Liquidity & Solvency 3
| Metric | Trend | Q3 2026 | Q2 2025 | Q1 2025 | Q4 2025 | Q3 2025 | Q2 2024 | Q1 2024 | Q4 2024 | Q3 2024 | Q2 2023 | Q1 2023 | Q4 2023 | Q3 2023 | Q2 2022 | Q1 2022 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.8 | 2.8 | 2.6 | · | · | 2.5 | 2.5 | · | 1.9 | 1.6 | 1.5 | · | 1.6 | 1.9 | 3.3 | · | |
| Quick Ratio | 1.3 | 1.5 | 1.4 | · | · | 1.3 | 1.3 | · | 1.0 | 0.9 | 1.0 | · | 1.0 | 1.2 | 2.2 | · | |
| Debt / Equity | 0.0 | 0.0 | 0.0 | · | · | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · |
Efficiency 3
| Metric | Trend | Q3 2026 | Q2 2025 | Q1 2025 | Q4 2025 | Q3 2025 | Q2 2024 | Q1 2024 | Q4 2024 | Q3 2024 | Q2 2023 | Q1 2023 | Q4 2023 | Q3 2023 | Q2 2022 | Q1 2022 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | · | · | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | |
| Inventory Turnover | 0.5 | 0.6 | 0.6 | · | 0.5 | 0.6 | 0.6 | · | 0.6 | 0.6 | 0.6 | · | 0.7 | 0.4 | 0.4 | · | |
| Receivables Turnover | 2.0 | 2.0 | 2.0 | · | · | 2.1 | 2.1 | · | 2.2 | 2.1 | 2.0 | · | 1.7 | 1.7 | 1.6 | · |
Valuation (TTM) 14
| Metric | Trend | Q3 2026 | Q2 2025 | Q1 2025 | Q4 2025 | Q3 2025 | Q2 2024 | Q1 2024 | Q4 2024 | Q3 2024 | Q2 2023 | Q1 2023 | Q4 2023 | Q3 2023 | Q2 2022 | Q1 2022 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $820M | $824M | $806M | · | $785M | $793M | $759M | · | $705M | $660M | $620M | · | $595M | $604M | $628M | · | |
| Net Income TTM | $-861M | $-920M | $-914M | · | $-1.01B | $-266M | $-252M | · | $-1.38B | $-1.36B | $-1.39B | · | $-1.27B | $-100M | $-72M | · | |
| Market Cap | $917M | $944M | $1.54B | · | $728M | $1.25B | $1.42B | · | $1.34B | $1.33B | $2.14B | · | $1.75B | $2.37B | $2.28B | · | |
| Enterprise Value | $706M | $661M | $1.29B | · | · | $1.01B | $1.16B | · | $1.13B | $1.09B | $1.69B | · | $1.36B | $1.95B | $1.88B | · | |
| P/E | -0.8 | -0.8 | -0.1 | · | -0.1 | -1.1 | -5.2 | · | -0.8 | -0.8 | -1.3 | · | -1.4 | -25.8 | -31.7 | · | |
| P/S | 1.1 | 1.1 | 1.9 | · | 0.9 | 1.6 | 1.9 | · | 1.9 | 2.0 | 3.5 | · | 2.9 | 3.9 | 3.6 | · | |
| P/B | 0.6 | 0.6 | 1.0 | · | · | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.6 | · | 0.5 | 0.5 | 0.5 | · | |
| P / Tangible Book | 1.2 | 1.2 | 2.0 | · | · | 2.1 | 2.5 | · | 3.2 | 3.3 | 5.3 | · | 4.3 | 3.7 | 3.3 | · | |
| P / Cash Flow | · | · | -1150.8 | · | · | · | -40.3 | · | · | · | -135.1 | · | · | · | -49.4 | · | |
| P / FCF | · | · | · | · | · | · | -33.8 | · | · | · | -107.1 | · | · | · | -46.4 | · | |
| EV / EBITDA | -26.8 | -29.7 | 615.0 | · | · | -23.9 | -31.7 | · | -13.7 | -26.0 | -49.2 | · | -1.1 | -37.7 | 145.5 | · | |
| EV / FCF | · | · | · | · | · | · | -27.6 | · | · | · | -84.6 | · | · | · | -38.1 | · | |
| EV / Revenue | 0.9 | 0.8 | 1.6 | · | · | 1.3 | 1.5 | · | 1.6 | 1.6 | 2.7 | · | 2.3 | 3.2 | 3.0 | · | |
| Earnings Yield | -118.7% | -124.6% | -704.4% | · | -1329.7% | -91.0% | -19.3% | · | -126.6% | -120.4% | -75.7% | · | -72.4% | -3.9% | -3.2% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-05-31 | 2024-12-31 | 2024-05-31 | 2023-12-31 | 2023-05-31 | |
|---|---|---|---|---|---|
| Revenue | $821M | — | $789M | — | $627M |
| Gross Margin % | 29.3% | — | 28.3% | — | 23.4% |
| Operating Margin % | -277.9% | — | -22.1% | — | -218.4% |
| Net Income | $-2.19B | — | $-245M | — | $-1.45B |
| Diluted EPS | $-2.46 | — | $-0.33 | — | $-2.35 |
Balance Sheet
| 2025-05-31 | 2024-12-31 | 2024-05-31 | 2023-12-31 | 2023-05-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.0 | — | 0.0 | — | 0.0 |
| Current Ratio | 2.5 | — | 2.3 | — | 1.8 |
| Quick Ratio | 1.3 | — | 1.2 | — | 1.2 |
Cash Flow
| 2025-05-31 | 2024-12-31 | 2024-05-31 | 2023-12-31 | 2023-05-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-128M | — | $-60M | — | $-13M |
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