TLDR
- TLRY stock surged 40% on September 29 after Trump shared CBD promotion video
- Trump’s video calls for Medicare coverage of CBD treatments for seniors
- Tilray generated $241 million from beverages in fiscal 2025, matching cannabis revenue
- International cannabis sales jumped 71% year over year in Q4
- Company holds $256 million liquidity with 0.3x leverage ratio
Tilray Brands stock exploded 40% on September 29 after President Trump posted a video on Truth Social promoting CBD oil for senior healthcare. The stock jumped from $1.15 to over $1.80 in morning trading.

Trump shared a video from The Commonwealth Project calling for Medicare coverage of CBD treatments. The nonprofit, backed by philanthropist Howard Kessler, claims CBD could save the healthcare system $64 billion annually.
The video promotes hemp-derived CBD as an alternative to traditional pharmaceuticals for seniors. It argues CBD can treat pain, reduce stress, improve sleep, and extend lifespan.
Investors viewed Trump’s endorsement as a potential catalyst for marijuana legalization legislation. The post reignited speculation about cannabis reform and rescheduling from Schedule I to Schedule III.
The Craft Beer Business
Tilray isn’t just a cannabis stock anymore. The company generated $241 million from beverages in fiscal 2025, nearly matching its $249 million cannabis revenue.
In late 2023, Tilray acquired eight craft beer brands from Anheuser-Busch InBev. The portfolio includes Shock Top, Breckenridge, Blue Point, 10 Barrel, Redhook, Widmer, Square Mile, and HiBall.
This deal made Tilray Brands the fourth-largest craft brewer in America by volume. The acquisition came with four production facilities, eight brewpubs, and nationwide distribution infrastructure.
The beer business scaled Tilray’s production from 4 million to 12 million cases. These established brands provide steady cash flow without cannabis regulatory friction.
International Cannabis Growth
While domestic cannabis revenue declined year over year, international markets delivered strong performance. Q4 fiscal 2025 international cannabis revenue hit $22.4 million, up 71% year over year.
Germany proved particularly strong with 134% revenue growth. This international expansion provides growth outside North America’s oversupplied cannabis market.
Management reported Q4 adjusted EBITDA of approximately $27 million to $28 million. The beverage segment contributed steady margins to overall profitability.
Balance Sheet Strength
Tilray reported $256.4 million in liquidity at fiscal year-end 2025. This includes $221.7 million in cash and $34.7 million in marketable securities.
The company reduced total debt by almost $100 million during the year. Net debt to trailing-12-months adjusted EBITDA improved to 0.3 times.
TLRY stock trades at roughly 1 times sales despite diversified revenue streams. Shares remain down 99% from 2018 peaks above $200.
The primary debt obligation is 5.20% senior notes due June 2027. Tilray has been converting portions into equity to extend maturities.
If marijuana moves from Schedule I to Schedule III, U.S. cannabis companies could deduct normal business expenses. This would end punitive 280E tax treatment that forces cannabis operators to pay taxes on gross profit.
Trump’s CBD endorsement suggests reform momentum may be building. The video specifically targeted senior healthcare and Medicare integration.
Tilray’s fiscal 2025 results showed beverage revenue nearly matching cannabis for the first time. The craft beer portfolio provides a non-cannabis revenue foundation that most competitors lack.
The company’s international presence in Germany and other markets offers growth potential outside North America. Combined with the beer business, Tilray has multiple revenue drivers beyond U.S. cannabis policy changes.