Tilray’s Beverage Biz Drops Double-Digits in Q4; Co. Takes $1.4B Impairment Charge

Dear Client:  Tilray reported its Q4 2025 and full fiscal year results yesterday, with the company recording a massive, nearly $1.4 billion “accounting-related non-cash impairment charge” recognized in the fourth quarter, as well as continued revenue losses in the beverage segment.  Indeed, Tilray’s overall net income losses of nearly $1.3 billion in Q4 were “almost all” a result of “non-cash expenses and accounting charges” associated with the Aphria and Tilray acquisition in 2021 “at which time stock prices and market