Tilray Brands, Inc.
Cash Flow Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-121.4M | $-2.19B | $-245.0M | $-1.45B | $-476.8M | $-367.4M | $-271.1M | $-321.2M |
| Depreciation & Amortization | — | — | — | — | $154.6M | $67.8M | $18.7M | $15.8M |
| Depreciation | — | — | — | — | — | — | $12.5M | $9.3M |
| Amortization | — | — | — | — | — | $27.3M | $11.0M | $9.8M |
| Stock-Based Compensation | $45.9M | $24.3M | $31.8M | $39.6M | $36.0M | $17.4M | $29.7M | $31.8M |
| Net Cash from Operating Activities | $-69.1M | $-94.6M | $-30.9M | $7.9M | $-177.3M | $-44.7M | $-129.4M | $-258.1M |
| Investing Activities | ||||||||
| Capital Expenditures | — | $32.9M | $29.2M | $20.8M | $34.1M | $38.9M | $44.6M | $73.7M |
| Business Acquisitions | $53.7M | $18.1M | $60.6M | $26.7M | $-326.0K | $-66.6M | $25.9M | $163.9M |
| Net Cash from Investing Activities | $-55.8M | $-46.7M | $128.3M | $-285.1M | $-21.5M | $46.1M | $-41.7M | $-253.2M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $131.0M | $133.5M | $-75.2M | $70.2M | $128.2M | $124.3M | $264.8M | $114.7M |
| Net Change in Cash | $7.7M | $-6.7M | $21.7M | $-209.3M | $-72.6M | $127.8M | $92.9M | $-390.5M |
| Free Cash Flow | — | $-127.5M | $-60.2M | $-12.9M | $-211.3M | $-83.6M | $-174.0M | $-331.8M |