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- Covenant Waiver and Borrowing Restriction (new) — Subsequent to the quarter ended August 31, 2026, the Company entered into the Seventh Amendment, which among other things, provides that the financial covenants will not be tested for the fiscal quarter ended August 31, 2026 and revises certain financial covenants for subsequent periods. The Seventh Amendment also limits borrowing availability under the revolving facility.
- Covenant Waiver (new) — The Company obtained a waiver of financial covenant testing for the quarter.
Tilray Brands swung to a net loss of $40.0M in the fiscal first quarter as revenue rose 22.7% to $257.1M, while operating expenses surged 83.4%.
Filed October 8, 2026 · Period ending August 31, 2026 · Compared to 10-Q Oct 9, 2025 · ~1 min read
Key Changes
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The company entered into a Seventh Amendment to its credit agreement that suspends financial covenant testing for the quarter and limits borrowing availability under the revolving facility, a material liquidity development.
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Net revenue increased 22.7% to $257.1M, with the Beverage Alcohol Business segment revenue up 82.1% to $101.5M.
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Operating expenses rose 83.4% to $101.6M, including $4.8M of transaction costs, net, and $2.4M of restructuring costs, and the company reported an operating loss of $24.1M.
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 8, 2026 · How we verify