**Title: "Tilray Brands Faces Financial Headwinds: Revenue Growth Overshadowed by Significant Losses"**

Financial Performance

Tilray Brands (Ticker: TLRY) reported total operating revenues of USD 185.78 million as of February 28, 2025. Despite the growth in operating revenues, the net loss was USD -793.53 million, indicating significant financial pressure on the company. Overall, while operating revenues have improved, profitability remains weak, with significant losses.

Key Financial Data

1. Operating revenues of USD 185.78 million, showing a certain growth trend, but need to be compared with previous data to determine the year-on-year change.

2. Net loss of USD -793.53 million, reflecting significant losses in operations, limiting profitability.

3. Sales costs of USD 133.77 million, gross profit of USD 52.01 million, indicating that sales revenues are present but overall profitability is affected.

4. Research and development expenses of USD 85,000, and marketing and management expenses of USD 83.12 million, indicating high spending on operations and innovation, which may affect cash flow.

5. Total comprehensive income of USD -798.92 million, further confirming the company's financial difficulties.

Peer Comparison

1. Industry-wide analysis: The cannabis industry faces regulatory policy changes and intensified competition, with many companies experiencing declining operating revenues. Tilray is no exception, with fluctuating market demand and increased competition leading to a decline in its operating revenues.

2. Peer evaluation analysis: Tilray's total operating revenues performance is poor compared to other companies in the industry, while some competitors have improved their revenues through optimizing product lines or market expansion, Tilray has shown significant losses, requiring attention to its market strategy and operational efficiency.

Conclusion

Through analyzing Tilray Brands' financial data, it can be seen that while operating revenues have improved, the company's overall profitability remains weak, with a significant net loss. The company needs to adjust its business strategy to cope with competitive pressure and market changes when facing high operating and innovation expenses.

Opportunities

1. Growing demand for medical and recreational cannabis provides market opportunities for Tilray.

2. The industry's overall growth potential remains, and Tilray may capture market share if it effectively adjusts its business strategy.

3. With changes in the policy environment, Tilray may gain new business development opportunities.

Risks

1. Continued net losses may lead to a decline in investor confidence, affecting the company's market performance.

2. Intense competition may put more pressure on Tilray's revenue growth.

3. The company's high operating and research and development expenses may further weaken its cash flow situation in the short term.