0001437749-26-024698 | 10-K | XBRL Viewer

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Note 16 - Convertible Debentures Payable - Net Carrying Amount of Convertible Debentures (Details) (Parentheticals)	May 31, 2026	May 31, 2025	May 30, 2023
TLRY 27 [Member]
Rate	5.20%	5.20%	5.20%

Note 6 - Capital Assets - Assets Held for Sale (Details) - USD ($) $ in Thousands	May 31, 2026	May 31, 2025
Assets, Held for sale	$ 2,449	$ 5,800
Production Facility [Member]
Assets, Held for sale	0	5,800
Equipment [Member]
Assets, Held for sale	979	0
Leasehold Improvements [Member]
Assets, Held for sale	493	0
Right of Use Assets [Member]
Assets, Held for sale	$ 977	$ 0

Note 22 - Cost of Goods Sold - Components of Cost of Goods Sold (Details) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
Cost of goods sold	$ 655,013	$ 580,739	$ 565,591
Beverage Alcohol Business [Member]
Cost of goods sold	162,743	147,591	113,522
Cannabis Segment [Member]
Cost of goods sold	161,256	150,005	182,594
Distribution Business [Member]
Cost of goods sold	286,589	241,896	230,596
Wellness Business [Member]
Cost of goods sold	$ 44,425	$ 41,247	$ 38,879

- Definition

The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.

+ References + Details

Note 9 - Business Acquisitions (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Business Combination, Recognized Asset Acquired and Liability Assumed [Table Text Block]

	*Amount*
Consideration
Cash consideration	$	22,979
Net assets acquired
Current assets
Cash and cash equivalents		4,869
Accounts receivable		1,993
Inventory		6,844
Prepaids and other current assets		185
Long-term assets
Capital assets		20,916
Finance lease, right-of-use assets		1,869
Operating lease, right-of-use assets		1,884
Total assets		38,560
Current liabilities
Accounts payable and accrued liabilities		11,828
Current portion of finance lease liabilities		354
Current portion of operating lease liabilities		564
Long - term liabilities
Finance lease liabilities		1,515
Operating lease liabilities		1,320
Total liabilities		15,581
Total net assets acquired		22,979

	*BrewDog UK I*		*BrewDog AUS*		*BrewDog UK II*		*BrewDog US*		*Total*
	*March 2,*		*March 9,*		*March 23,*		*April 1,*
	*2026*		*2026*		*2026*		*2026*
Consideration
Cash consideration	$	44,220	$	—	$	560	$	9,293	$	54,073
Net assets acquired
Current assets
Cash and cash equivalents		159		392		—		19		570
Accounts receivable		336		797		—		—		1,133
Inventory		16,173		604		—		2,098		18,875
Prepaids and other current assets		159		322		—		—		481
Long-term assets
Capital assets		60,664		2,769		1,738		7,176		72,347
Finance lease, right-of-use assets		44,640		17,318		—		17,881		79,839
Operating lease, right-of-use assets		16,713		—		5,213		3,697		25,623
Intangible assets		10,762		—		—		—		10,762
Total assets		149,606		22,202		6,951		30,871		209,630
Current liabilities
Accounts payable and accrued liabilities		44,033		4,885		1,177		—		50,095
Current portion of finance lease liabilities		2,827		72		—		466		3,365
Current portion of operating lease liabilities		2,088		—		459		299		2,846
Long - term liabilities
Finance lease liabilities		41,813		17,245		—		17,415		76,473
Operating lease liabilities		14,625		—		4,755		3,398		22,778
Total liabilities		105,386		22,202		6,391		21,578		155,557
Total net assets acquired	$	44,220	$	—	$	560	$	9,293	$	54,073

	*Amount*
Consideration
Shares	$	2,795
Cash consideration		279
Net assets acquired
Current assets
Cash and cash equivalents		83
Accounts receivable		125
Inventory		146
Prepaids and other current assets		118
Long-term assets
Capital assets		34
Intangible assets		4,328
Total assets		4,834
Current liabilities
Accounts payable and accrued liabilities		1,760
Total liabilities		1,760
Total net assets acquired	$	3,074

Note 18 - Stockholders' Equity - Summary of Stock Option Activity (Details) - Time Based Option [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025
E I P Original Plan [Member]
Balance, options (in shares)	278,603
Balance, weighted average exercise price (in dollars per share)	$ 145.54
Balance, contractual term (Year)	2 years	3 years
Balance, aggregate intrinsic value	$ 0	$ 0
Granted, options (in shares)	0
Granted, weighted average exercise price (in dollars per share)	$ 0
Exercised, options (in shares)	0
Exercised, weighted average exercise price (in dollars per share)	$ 0
Forfeited, options (in shares)	0
Forfeited, weighted average exercise price (in dollars per share)	$ 0
Cancelled, options (in shares)	0
Expired, weighted average exercise price (in dollars per share)	$ 0
Balance, options (in shares)	278,603	278,603
Balance, weighted average exercise price (in dollars per share)	$ 145.54	$ 145.54
Original Plan [Member]
Balance, options (in shares)	1,296
Balance, weighted average exercise price (in dollars per share)	$ 47.66
Balance, contractual term (Year)	1 year 7 months 6 days	2 years 7 months 6 days
Balance, aggregate intrinsic value		$ 0
Exercised, options (in shares)	0
Exercised, weighted average exercise price (in dollars per share)	$ 0
Forfeited, options (in shares)	0
Forfeited, weighted average exercise price (in dollars per share)	$ 0
Expired, weighted average exercise price (in dollars per share)	$ 0
Balance, options (in shares)	1,296	1,296
Balance, weighted average exercise price (in dollars per share)	$ 47.66	$ 47.66
Expired, options (in shares)	0

Note 15 - Long-term Debt (Details Textual) $ in Thousands, $ in Thousands, € in Millions	12 Months Ended
	Feb. 28, 2025 CAD ($)	May 31, 2026 USD ($)	May 31, 2025 USD ($)	May 31, 2025 CAD ($)	Sep. 29, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Nov. 28, 2022	Jul. 27, 2018 CAD ($)	May 09, 2017 CAD ($)	Jul. 22, 2016 CAD ($)
Term Loan Due in February 2028 [Member]
Long-Term Debt, Gross				$ 53,000
Credit Facility Due in November 2025 [Member] \| Secured Debt [Member]
Repayments of Long-Term Debt	$ 48,171
Term Loan Due in July 2033 [Member] \| Secured Debt [Member]
Long-Term Debt, Gross								$ 25,000	$ 25,000	$ 1,250
Mortgage Payable Due in August 2026 [Member]
Long-Term Debt, Gross		$ 1,890	$ 2,020
Mortgage Payable Due in August 2026 [Member] \| Secured Debt [Member]
Long-Term Debt, Gross										$ 3,750
June 2023 Term Loan [Member] \| Secured Debt [Member] \| C C Pharma [Member]
Long-Term Debt, Gross \| €						€ 3.5
Term Loan Due in June 2028 [Member]
Long-Term Debt, Gross		$ 63,688	$ 80,438
Term Loan Due in June 2028 [Member] \| Secured Debt [Member]
Long-Term Debt, Gross					$ 90,000
Aphria Diamond [Member]
Subsidiary, Ownership Percentage, Parent		51.00%					51.00%

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	May 31, 2026
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted [Flag]	true

Insider Trading Arrangements

12 Months Ended

May 31, 2026

Trading Arrangements, by Individual [Table]

Material Terms of Trading Arrangement [Text Block]

Item 9B. Other Information.

On July 24, 2026, American Beverage Crafts Group, Inc. entered into the Sixth Amendment with Bank of America, N.A., as administrative agent, and the lenders party thereto. The Sixth Amendment amends the Credit Agreement dated June 30, 2023 and, among other things, reflects revisions to the Company's credit facilities, including a reduction in the revolving commitments from $25.0 million to $15.0 million and modifications to certain of the financial covenants. The Sixth Amendment also acknowledges a voluntary principal prepayment of $10.0 million made on May 29, 2026, and includes various amendments, consents and other provisions relating to certain corporate and financing transactions. The foregoing description is qualified in its entirety by reference to the full text of the Sixth Amendment, which is filed as Exhibit 10.29 to this Annual Report on Form 10-K and incorporated herein by reference.

On July 23, 2026, the Board of Directors of the Company (the “Board”) approved fiscal year 2026 retention payments to be made on or about August 15, 2026 (the “Payment Date”) for the following executives (the “Executives”) in the amount set forth opposite each Executive’s name pursuant to an Executive Retention Agreement (the “Executive Retention Agreement”) entered into with each Executive. Pursuant to the terms of each Executive Retention Agreement, such retention payments require continued employment from the Payment Date through August 31, 2027 (the “Repayment Period”). If the Executive terminates employment without Good Reason or is terminated by the Company for Cause (both terms as defined in the Executive’s employment agreements) prior to August 31, 2027, then such Executive must repay a pro-rated portion of the retention payment based on the number of days not employed by the Company during the Repayment Period. A copy of the form of Executive Retention Agreement is filed as an exhibit to this Form10-K.

Executives		Retention Payment
Irwin Simon		$2,000,000
Carl Merton		300,000
Denise Faltischek		300,000
Mitchell Gendel		300,000
Roger Savell		100,000

Rule 10b5-1 Trading Plans

None of our directors or “officers,” as defined in Rule 16a-1(f) under the Securities Exchange Act of 1934, adopted or terminated a Rule 10b5-1 trading plan or arrangement or a non-Rule 10b5-1 trading plan or arrangement, as defined in Item 408(c) of Regulation S-K, during the fiscal year covered by this report.

Rule 10b5-1 Arrangement Adopted [Flag]

false

Rule 10b5-1 Arrangement Terminated [Flag]

false

Non-Rule 10b5-1 Arrangement Terminated [Flag]

false

Non-Rule 10b5-1 Arrangement Adopted [Flag]

false

Note 10 - Goodwill (Details Textual) $ in Thousands	12 Months Ended
Note 10 - Goodwill (Details Textual) $ in Thousands	May 31, 2026 USD ($)	May 31, 2025 USD ($)	May 31, 2024 USD ($)	Dec. 31, 2025 USD ($)
Asset, Impairment Loss	$ 0	$ 2,096,139	$ 0
Goodwill, Impairment Loss			$ 0
Goodwill	752,350	$ 752,350		$ 752,350
Cannabis Segment [Member]
Goodwill, Impairment Loss, Statement of Income or Comprehensive Income [Extensible Enumeration]		Asset, Impairment Loss
Goodwill, Impairment Loss		$ 1,070,000
Goodwill, Impairment Loss, Increase From 1% of Increase in Discount Rate		133,800
Goodwill, Impairment Loss, Increase From 1% of Decrease in Terminal Growth Rate		93,500
Goodwill, Impairment Loss, Increase From 5% of Decrease in Average Growth Rate		23,400
Goodwill	$ 752,350	752,350
Cannabis Segment [Member] \| European Union [Member]
Goodwill, Impairment Loss, Increase From 5% of Decrease in Legalization Probability		44,000
Cannabis Segment [Member] \| UNITED STATES
Goodwill, Impairment Loss, Increase From 5% of Decrease in Legalization Probability		$ 17,100
Cannabis Segment [Member] \| Measurement Input, Discount Rate [Member]
Goodwill, Measurement Input		0.145
Cannabis Segment [Member] \| Measurement Input, Terminal Growth Rate [Member]
Goodwill, Measurement Input		0.05
Cannabis Segment [Member] \| Measurement Input, Average Revenue Growth Rate [Member]
Goodwill, Measurement Input		0.34
Cannabis Segment [Member] \| Measurement Input, Expected Term [Member]
Goodwill, Measurement Input		5
Cannabis Segment [Member] \| Measurement Input, Probability of Legalization [Member] \| European Union [Member]
Goodwill, Measurement Input		0.65
Cannabis Segment [Member] \| Measurement Input, Probability of Legalization [Member] \| UNITED STATES
Goodwill, Measurement Input		0.25
Beverage Segment [Member]
Goodwill, Impairment Loss		$ 120,815
Goodwill		$ 0
Beverage Segment [Member] \| Measurement Input, Discount Rate [Member]
Goodwill, Measurement Input		0.10
Beverage Segment [Member] \| Measurement Input, Terminal Growth Rate [Member]
Goodwill, Measurement Input		0.02
Beverage Segment [Member] \| Measurement Input, Average Revenue Growth Rate [Member]
Goodwill, Measurement Input		0.02
Beverage Segment [Member] \| Measurement Input, Expected Term [Member]
Goodwill, Measurement Input		5
Wellness Business [Member]
Goodwill, Impairment Loss		$ 53,173
Goodwill		$ 0
Wellness Business [Member] \| Measurement Input, Discount Rate [Member]
Goodwill, Measurement Input		0.1225
Wellness Business [Member] \| Measurement Input, Terminal Growth Rate [Member]
Goodwill, Measurement Input		0.02
Wellness Business [Member] \| Measurement Input, Average Revenue Growth Rate [Member]
Goodwill, Measurement Input		0.07
Wellness Business [Member] \| Measurement Input, Expected Term [Member]
Goodwill, Measurement Input		5
Distribution Business [Member]
Goodwill, Impairment Loss		$ 4,235
Goodwill		$ 0

Note 20 - Non-controlling Interests - Summary of Balance Sheet Information (Details) - USD ($) $ in Thousands	May 31, 2026	Dec. 31, 2025	May 31, 2025
Current assets	$ 792,134	$ 688,626
Current liabilities	(358,380)	$ (280,303)
Superhero Acquisition LP [Member]
Current assets	201		$ 0
Non-current assets	0		0
Current liabilities	(4)		0
Non-current liabilities	0		0
Net assets	197		0
CC Pharma Nordic ApS [Member]
Current assets	110,664		0
Non-current assets	105,278		0
Current liabilities	(129,883)		0
Non-current liabilities	(38,231)		0
Net assets	47,828		0
Aphria Diamond [Member]
Current assets	1		83,390
Non-current assets	3,756		114,677
Current liabilities	(7,147)		(126,986)
Non-current liabilities	(1,440)		(31,720)
Net assets	(4,830)		39,361
ColCanna S.A.S. [Member]
Current assets	110,866		20
Non-current assets	109,034		3,348
Current liabilities	(137,034)		(6,953)
Non-current liabilities	(39,671)		(1,442)
Net assets	$ 43,195		(5,027)
Subsidiaries [Member]
Current assets			83,410
Non-current assets			118,025
Current liabilities			(133,939)
Non-current liabilities			(33,162)
Net assets			$ 34,334

Note 29 - Segment Reporting (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Segment Reporting [Table Text Block]

	*For the year ended May 31,*
	*2026*		*2025*		*2024*
Beverage
Net beverage revenue	$	253,976	$	240,595	$	202,094
Beverage costs		162,743		147,591		113,522
Beverage gross profit		91,233		93,004		88,572
Cannabis
Net cannabis revenue		268,342		249,001		272,798
Cannabis costs		161,256		150,005		182,594
Cannabis gross profit		107,086		98,996		90,204
Distribution
Distribution revenue		327,244		271,228		258,740
Distribution costs		286,589		241,896		230,596
Distribution gross profit		40,655		29,332		28,144
Wellness
Wellness revenue		65,892		60,485		55,310
Wellness costs		44,425		41,247		38,879
Wellness gross profit		21,467		19,238		16,431
Total
Total revenue		915,454		821,309		788,942
Total costs		655,013		580,739		565,591
Total gross profit	$	260,441	$	240,570	$	223,351

	*For the year ended May 31,*
	*2026*			*2025*			*2024*
Gross profit	$	260,441		$	240,570		$	223,351

Operating expenses:
General and administrative		203,629			167,324			167,358
Selling		49,328			56,039			37,233
Amortization		19,585			88,616			84,752
Marketing and promotion		42,290			37,048			41,933
Research and development		361			284			635
Change in fair value of contingent consideration		(15,000	)		—			(15,790	)
Impairment of intangible assets and goodwill		—			2,096,139			—
Other than temporary change in fair value of convertible notes receivable		—			21,661			42,681
Litigation costs, net of recoveries		3,902			17,347			8,251
Restructuring costs		13,113			34,283			15,581
Transaction costs (income), net		6,260			4,534			15,462
Total operating expenses		323,468			2,523,275			398,096
Operating loss		(63,027	)		(2,282,705	)		(174,745	)
Interest expense, net		(23,663	)		(29,952	)		(36,433	)
Non-operating income (expense), net		(1,370	)		10,284			(37,842	)
Loss before income taxes		(88,060	)		(2,302,373	)		(249,020	)
Income tax expense (recovery), net		17,098			(121,017	)		(26,616	)
Net loss	$	(105,158	)	$	(2,181,356	)	$	(222,404	)

	*For the year ended May 31,*
	*2026*			*2025*			*2024*
Revenue from Canadian medical cannabis	$	23,726		$	24,998		$	25,211
Revenue from Canadian adult-use cannabis		236,352			224,048			266,846
Revenue from wholesale cannabis		7,318			18,207			25,340
Revenue from international cannabis		84,910			63,356			53,295
Less excise taxes		(83,964	)		(81,608	)		(97,894	)
Total	$	268,342		$	249,001		$	272,798

Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue [Table Text Block]

	*For the year ended May 31,*
	*2026*		*2025*		*2024*
USA	$	242,390	$	273,695	$	233,141
Canada		215,661		212,860		243,722
EMEA		445,698		323,350		296,450
Rest of World		11,705		11,404		15,629
Total	$	915,454	$	821,309	$	788,942

Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Long-Lived Asset [Table Text Block]

	*May 31,*		*May 31,*
	*2026*		*2025*
USA	$	207,592	$	200,003
Canada		245,799		267,458
EMEA		202,598		97,371
Rest of World		24,236		3,601
Total	$	680,225	$	568,433

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details

Note 5 - Related Party Transactions (Details Textual) £ in Thousands, $ in Thousands	12 Months Ended
	May 31, 2026 USD ($)	May 31, 2026 GBP (£)	Oct. 13, 2025	Dec. 12, 2022
Strategic Partnership with Solana Life Group S. de R.L. [Member]
Equity Method Investment, Ownership Percentage			25.00%
Joint Venture With RIKI Ventures, LLC [Member]
Equity Method Investment, Ownership Percentage				50.00%
Equity Method Investment, Termination Fee	$ 77
Joint Venture With RIKI Ventures, LLC [Member] \| Employment Arrangement [Member] \| Mr. Persofsky [Member]
Compensation Expense, Excluding Cost of Good and Service Sold	130
Joint Venture With RIKI Ventures, LLC [Member] \| Employment Arrangement [Member] \| Mr. Simon [Member]
Compensation Expense, Excluding Cost of Good and Service Sold	$ 127	£ 90

Note 12 - Income Taxes and Deferred Income Taxes (Details Textual) - USD ($) $ in Thousands		12 Months Ended
	Dec. 22, 2017	May 31, 2026	May 31, 2025	May 31, 2024
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%	21.00%
SEC Schedule, 12-09, Valuation Allowances and Reserves, Period Increase (Decrease)		$ 28,432
Unrecognized Tax Benefits		0	$ 0	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense		0	0	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued			0
Current Period Earnings [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		37,627
Currency Translation Effects [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		19,429
Return to Provision and Other Prior Period Adjustments [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		28,740
Prior Year Impairment of Intangible Assets [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		29,602
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Period Increase (Decrease)			$ 179,090
Income Tax Jurisdiction, Domestic Federal [Member]
Operating Loss Carryforwards		$ 347,553
Net Operating Loss Carryforwards Offset, Percentage Of Taxable Income		80.00%
Income Tax Jurisdiction, Domestic Federal [Member] \| Internal Revenue Service (IRS) [Member]
Open Tax Year		2023 2024 2025 2026
Income Tax Jurisdiction, Foreign [Member] \| Canada Revenue Agency [Member]
Operating Loss Carryforwards		$ 1,650,146
Open Tax Year		2022 2023 2024 2025 2026
Income Tax Jurisdiction, Foreign [Member] \| Portuguese Tax Authority [Member]
Open Tax Year		2022 2023 2024 2025 2026
Income Tax Jurisdiction, Foreign [Member] \| Federal Ministry of Finance, Germany [Member]
Open Tax Year		2021 2022 2023 2024 2025 2026
Income Tax Jurisdiction, Foreign [Member] \| Australian Taxation Office [Member]
Open Tax Year		2022 2023 2024 2025 2026

Note 7 - Leases - Lease Related Assets and Liabilities (Details) (Parentheticals)	May 31, 2026	May 31, 2025
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Operating and Finance Lease Liability, Current	Operating and Finance Lease Liability, Current
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Operating and Finance Lease Liability, Current	Operating and Finance Lease Liability, Current
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Operating and Finance Lease Liability, Noncurrent	Operating and Finance Lease Liability, Noncurrent
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Operating and Finance Lease Liability, Noncurrent	Operating and Finance Lease Liability, Noncurrent

Note 17 - Warrant Liability (Details Textual) - USD ($)		12 Months Ended
Note 17 - Warrant Liability (Details Textual) - USD ($)	Sep. 15, 2025	May 31, 2026	May 31, 2025	May 31, 2024
Class of Warrant or Right, Exercised (in shares)	620,900
Proceeds from Warrant Exercises	$ 2,367	$ 2,367,000	$ 0	$ 0
Stock Issued During Period, Shares, Warrants Exercised (in shares)	620,900	620,900
Class of Warrant or Right, Outstanding (in shares)		0	620,900

Note 28 - Financial Risk Management and Financial Instruments - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	May 31, 2026	Dec. 31, 2025	May 31, 2025
Equity investments measured at fair value	$ 2,187		$ 1,972
Contingent consideration	0	$ (15,000)
Fair Value, Recurring [Member]
Cash and cash equivalents	225,977		221,666
Marketable securities	5,289		34,697
Equity investments measured at fair value	6,551		10,132
Total recurring fair value measurements	237,817		250,403
Warrant liability			(1,092)
Contingent consideration			(15,000)
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	225,977		221,666
Marketable securities	5,289		34,697
Equity investments measured at fair value	1,197		909
Total recurring fair value measurements	232,463		257,272
Warrant liability			0
Contingent consideration			0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents	0		0
Marketable securities	0		0
Equity investments measured at fair value	990		1,063
Total recurring fair value measurements	990		1,063
Warrant liability			0
Contingent consideration			0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents	0		0
Marketable securities	0		0
Equity investments measured at fair value	4,364		8,160
Total recurring fair value measurements	$ 4,364		(7,932)
Warrant liability			(1,092)
Contingent consideration			$ (15,000)

Note 10 - Goodwill (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Goodwill [Table Text Block]

	May 31,
	2026
Cannabis Goodwill	$	2,640,669
Accumulated impairment losses		(1,888,319	)
Total	$	752,350

	*Reporting Units*												*May 31,*
	*Beverage*			*Cannabis*			*Wellness*			*Distribution*			*2025*
Goodwill	$	120,802		$	2,640,669		$	77,470		$	4,458		$	2,843,399
Accumulated impairment losses		(120,802	)		(1,897,431	)		(68,186	)		(4,235	)		(2,090,654	)
Effect of foreign exchange		—			9,112			(9,284	)		(223	)		(395	)
Total	$	—		$	752,350		$	—		$	—		$	752,350

- Definition

Tabular disclosure of goodwill.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

+ Details

Note 4 - Inventory

12 Months Ended

May 31, 2026

Notes to Financial Statements

Inventory Disclosure [Text Block]

4.	Inventory

Inventory is comprised of:

	*May 31,*		*May 31,*
	*2026*		*2025*
Beverage inventory	$	80,723	$	63,965
Plants		38,253		24,045
Dried cannabis		106,467		103,507
Cannabis derivatives		5,463		7,877
Cannabis vapes		1,649		1,860
Packaging and other inventory items		14,255		15,366
Distribution inventory		40,054		38,735
Wellness inventory		14,328		15,527
Total	$	301,192	$	270,882

Included in cost of goods sold for the fiscal year ended May 31, 2026 and May 31, 2025 are $nil and $1,610 of fair value step up adjustments under purchase accounting (PPA) for beverage inventory sold during the course of the fiscal year, respectively.

Note 15 - Long-term Debt

12 Months Ended

May 31, 2026

Notes to Financial Statements

Long-Term Debt [Text Block]

15.

Long-term debt

The following table sets forth the net carrying amount of long-term debt instruments:

	*May 31,*			*May 31,*
	*2026*			*2025*
Mortgage payable - C$53,000 - Canadian prime plus an applicable margin, 3-year term, with a 10-year amortization, repayable in equal quarterly payments due in February 2028	$	34,310		$	38,690
Mortgage payable - C$25,000 - Canadian prime plus 1.00%, compounded monthly, 5-year term, with a 15-year amortization, repayable in equal monthly installments of C$181 including interest, due in July 2033		8,420			11,501
Mortgage payable - C$25,000 - Canadian prime plus 1.00%, compounded monthly, 5-year term, with a 15-year amortization, repayable in equal monthly installments of C$196 including interest, due in July 2033		10,356			9,354
Term loan - C$1,250 - Canadian prime plus 1.50%, 5-year term, with a 10-year amortization, repayable in equal monthly installments of C$12 including interest, due in August 2026		23			157
Mortgage payable - C$3,750 - Canadian prime plus 1.50%, 5-year term, with a 20-year amortization, repayable in equal monthly installments of C$23 including interest, due in August 2026		1,890			2,020
Term loan ‐ €3,500 ‐ at 4.59%, 5‐year term, repayable in monthly installments of €52 plus interest, due in August 2028		1,822			2,546
Mortgage payable - $22,635 - EURIBOR rate plus 1.5%, 10-year term, repayable in monthly installments of $57 to $69, due in October 2030		18,669			19,418
Term loan - $90,000 - SOFR plus an applicable margin, 5-year term, repayable in quarterly installments of $875 to $2,250 due in June 2028		63,688			80,438
Carrying amount of long-term debt		139,178			164,124
Unamortized financing fees		(593	)		(864	)
Net carrying amount		138,585			163,260
Less principal portion included in current liabilities		(18,160	)		(14,767	)
Total noncurrent portion of long-term debt	$	120,425		$	148,493

The Company, entered into a secured credit agreement on November 28, 2022, for a credit facility through its 51% owned subsidiary Aphria Diamond Inc. (“Aphria Diamond”). The principal amount of loans outstanding is secured by the property at 620 Country Road 14, Leamington, Ontario, which is owned by Aphria Diamond and a guarantee from Aphria Inc. During the fiscal year ended May 31, 2025, the Company refinanced this debt by entering into a new Credit Agreement. The Credit Agreement provides for a term loan equal to CAD $53,000 with a maturity date of February 21, 2028. The Company used CAD $48,171 of the proceeds from the Credit Agreement to repay in full all outstanding obligations under the prior credit facility.

The mortgage payable of C$25,000 was entered into on July 27, 2018 and is secured by the property at 223, 231, 239, 265, 269, 271 and 275 Talbot Street West, Leamington Ontario, a first position on a general security agreement, and an assignment of fire insurance to the lender.

The term loan of C$25,000 was entered into on May 9, 2017 and is secured by the property at 265 Talbot Street West, Leamington Ontario, a first position on a general security agreement, and an assignment of fire insurance to the lender.

The term loan of C$1,250 and mortgage payable of C$3,750 were entered into on July 22, 2016 and are secured by the property at 265 Talbot Street West, Leamington, Ontario and a first position on a general security agreement.

The Company entered into term loans in June 2023 for €3,500 through wholly owned subsidiary CC Pharma. These term loans are secured against the distribution inventory held by CC Pharma and by the land where the facility is located and the building.

On December 1, 2021, the Company acquired all the membership interests in Cheese Grits, LLC, a Georgia limited liability company that owns the SweetWater Brewing Company brewery and taproom in Atlanta, Georgia, which facility was previously leased to the Company. Cheese Grits, LLC, was owned by certain former equity holders of SweetWater and current employees. As part of this purchase, the Company, through subsidiary Cheese Grits, LLC, acquired the mortgage payable which is secured against the Sweetwater brewery and taproom.

The term loan of $90,000 was fully drawn on September 29, 2023 to fund part of the purchase price for Craft Acquisition I. Under the terms of the ABC Group Secured Credit Agreement, the Company pledged all of ABC Group and the Wellness segment’s and its subsidiaries’ assets and the related equity interests, and Tilray Brands, Inc. provided a full guarantee of the borrowing obligations under the ABC Group Secured Credit Agreement, as well as requiring the lenders approval to transfer assets to Tilray Brands, Inc.

The Company maintains certain financial covenants or minimum balances in certain cash operating accounts, and as of May 31, 2026, the Company was in compliance with all the long-term debt covenants.

Note 20 - Non-controlling Interests

12 Months Ended

May 31, 2026

Notes to Financial Statements

Noncontrolling Interest Disclosure [Text Block]

20.

Non-controlling interests

The following are majority-owned subsidiaries of the Company and the percentage of ownership interest maintained by the Company is set forth in the parenthetical: Enroot (75%), Aphria Diamond (51%), and Colcanna S.A.S. (90%).

Summarized balance sheet information of the entities in which there is a non-controlling interest as of May 31, 2026:

				*Aphria*			*ColCanna*			*May 31,*
	*Enroot*			*Diamond*			*S.A.S.*			*2026*
Current assets	$	201		$	110,664		$	1		$	110,866
Non-current assets		—			105,278			3,756			109,034
Current liabilities		(4	)		(129,883	)		(7,147	)		(137,034	)
Non-current liabilities		—			(38,231	)		(1,440	)		(39,671	)
Net assets	$	197		$	47,828		$	(4,830	)	$	43,195

Summarized balance sheet information of the entities in which there is a non-controlling interest as of May 31, 2025:

	SH		*CC Pharma*		*Aphria*			*ColCanna*			*May 31,*
	*Acquisition*		*Nordic ApS*		*Diamond*			*S.A.S.*			*2025*
Current assets	$	—	$	—	$	83,390		$	20		$	83,410
Non-current assets		—		—		114,677			3,348			118,025
Current liabilities		—		—		(126,986	)		(6,953	)		(133,939	)
Non-current liabilities		—		—		(31,720	)		(1,442	)		(33,162	)
Net assets	$	—	$	—	$	39,361		$	(5,027	)	$	34,334

On January 7, 2025, the Company dissolved its 75% ownership interest in CC Pharma Nordic ApS., and as a result, the Company no longer controls CC Pharma Nordic ApS. and thus no longer consolidates this entity.

On January 16, 2025, MedMen exited receivership and substantially all of its remaining assets were transferred to a new entity owned by MedMen’s secured creditors, including SH Acquisition. In connection with this restructuring, the Company disposed of its MedMen Convertible Note in exchange for on option to acquire a 68% membership interest in SH Acquisition for $1.00 upon U.S. federal cannabis legalization. As a result, the Company no longer controls SH Acquisition and thus no longer consolidates this entity.

Summarized income statement information of the entities in which there is a non-controlling interest for the fiscal year ended May 31, 2026:

				*Aphria*			*ColCanna*			*May 31,*
	*Enroot*			*Diamond*			*S.A.S.*			*2026*
Revenue	$	29		$	81,477		$	—		$	81,506
Total expenses		39			48,459			(622	)		47,876
Net (loss) income		(10	)		33,018			622			33,630
Other comprehensive (loss) income		—			2,899			(425	)		2,474
Net comprehensive (loss) income	$	(10	)	$	35,917		$	197		$	36,104
Non-controlling interest %		25	%		49	%		10	%	NA
Comprehensive (loss) income attributable to NCI		(3	)		17,599			20			17,616
Additional income attributable to NCI		—			—			—			-
Net comprehensive (loss) income attributable to NCI	$	(3	)	$	17,599		$	20		$	17,616

Summarized income statement information of the entities in which there is a non-controlling interest for the fiscal year ended May 31, 2025:

	SH			*CC Pharma*			*Aphria*			*ColCanna*			*May 31,*
	*Acquisition*			*Nordic ApS*			*Diamond*			*S.A.S.*			*2025*
Revenue	$	—		$	—		$	78,414		$	—		$	78,414
Total expenses		20,000			11			54,274			290			74,575
Net (loss) income		(20,000	)		(11	)		24,140			(290	)		3,839
Other comprehensive (loss) income		—			8			(45	)		(12	)		(49	)
Net comprehensive (loss) income	$	(20,000	)	$	(3	)	$	24,095		$	(302	)	$	3,790
Non-controlling interest %		32	%		25	%		49	%		10	%	NA
Comprehensive (loss) income attributable to NCI		(6,400	)		(1	)		11,807			(30	)		5,376
Additional income attributable to NCI		—			—			—			—			—
Net comprehensive (loss) income attributable to NCI	$	(6,400	)	$	(1	)	$	11,807		$	(30	)	$	5,376

Summarized income statement information of the entities in which there is a non-controlling interest for the fiscal year ended May 31, 2024:

	SH			*CC Pharma*			*Aphria*			*ColCanna*			*May 31,*
	*Acquisition*			*Nordic ApS*			*Diamond*			*S.A.S.*			*2024*
Revenue	$	—		$	—		$	103,331		$	—		$	103,331
Total expenses		42,681			(1,064	)		40,935			(203	)		82,349
Net (loss) income		(42,681	)		1,064			62,396			203			20,982
Other comprehensive (loss) income		—			(9	)		171			(334	)		(172	)
Net comprehensive (loss) income	$	(42,681	)	$	1,055		$	62,567		$	(131	)	$	20,810
Non-controlling interest %		32	%		25	%		49	%		10	%	NA
Comprehensive (loss) income attributable to NCI		(13,658	)		264			30,658			(13	)		17,251
Additional income attributable to NCI		—			—			5,336			—			5,336
Net comprehensive (loss) income attributable to NCI	$	(13,658	)	$	264		$	35,994		$	(13	)	$	22,587

Note 4 - Inventory (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Schedule of Inventory, Current [Table Text Block]

	*May 31,*		*May 31,*
	*2026*		*2025*
Beverage inventory	$	80,723	$	63,965
Plants		38,253		24,045
Dried cannabis		106,467		103,507
Cannabis derivatives		5,463		7,877
Cannabis vapes		1,649		1,860
Packaging and other inventory items		14,255		15,366
Distribution inventory		40,054		38,735
Wellness inventory		14,328		15,527
Total	$	301,192	$	270,882

Note 25 - Interest Expense, Net

12 Months Ended

May 31, 2026

Notes to Financial Statements

Interest Income and Interest Expense Disclosure [Text Block]

25.

Interest expense, net

Interest expense, net is comprised of:

	*For the year ended May 31,*
	*2026*			*2025*			*2024*
Interest income	$	6,249		$	11,379		$	12,831
Interest expense		(29,912	)		(41,331	)		(49,264	)
Total	$	(23,663	)	$	(29,952	)	$	(36,433	)

- Definition

The entire disclosure for interest income and interest expense for enterprises that derive a significant portion of their revenue from interest collected on investments, loans, and securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Note 30 - Subsequent Events

12 Months Ended

May 31, 2026

Notes to Financial Statements

Subsequent Events [Text Block]

30.

Subsequent Events

From June 1, 2026 to June 4, 2026, the Company issued an additional 639,581 shares in connection with the Company’s ATM Program, thereby generating gross proceeds of $3,528. The Company netted proceeds of $3,457 after commissions and other fees associated with these issuances in the amount of $71.

From June 1, 2026 to June 24, 2026, Tilray entered into three private debt-for-equity Exchange Transactions with unrelated parties. Pursuant to the Exchange Transactions, the Company issued an aggregate of 3,852,527 shares of Common Stock in exchange for $18,000 aggregate principal amount of the TLRY 27 Notes due June 15, 2027. As a result, $70,000 of principal remains outstanding on the Company’s TLRY 27 Notes as of the date of this filing.

On July 24, 2026, American Beverage Crafts Group, Inc., a wholly owned subsidiary of the Company, entered into a Sixth Amendment to Credit Agreement (the “Sixth Amendment”) with Bank of America, N.A., as administrative agent, and the lenders party thereto. The Sixth Amendment amends the Credit Agreement dated June 30, 2023 and, among other things, reflects revisions to the Company’s credit facilities, including a reduction in the revolving commitments from $25,000 to $15,000 and modifications to certain of the financial covenants. The Sixth Amendment also acknowledges a voluntary principal prepayment of $10,000 million made on May 29, 2026, and includes various amendments, consents and other provisions relating to certain corporate and financing transactions.

Note 27 - Commitments and Contingencies

12 Months Ended

May 31, 2026

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

27.

Commitments and contingencies

Purchase and other commitments

The Company has payments on long-term debt (refer to Note 15 Long-term debt), convertible notes (refer to Note 16 Convertible Debentures), material purchase commitments and construction commitments as follows:

	*Total*		*2027*		*2028*		*2029*		*2030*		*Thereafter*
Long-term debt repayment	$	139,178		18,160		41,708		49,833		3,677		25,800
Convertible debentures payable		88,000		—		88,000		—		—		—
Material purchase obligations		59,562		48,256		9,568		551		579		608
Construction commitments		663		663		—		—		—		—
Total	$	287,403	$	67,079	$	139,276	$	50,384	$	4,256	$	26,408

Legal proceedings

In the ordinary course of business, we are at times subject to various legal proceedings and disputes, including the proceedings specifically discussed below. We assess our liabilities and contingencies in connection with outstanding legal proceedings utilizing the latest information available. Where it is probable that we will incur a loss and the amount of the loss can be reasonably estimated, we record a liability in our consolidated financial statements. These legal reserves may be increased or decreased to reflect any relevant developments on a quarterly basis. Where a loss is not probable or the amount of loss is not estimable, we do not accrue legal reserves. While the outcome of legal proceedings is inherently uncertain, based on information currently available and available insurance coverage, our management believes that it has established appropriate legal reserves. Any incremental liabilities arising from pending legal proceedings are not expected to have a material adverse effect on our consolidated financial position, consolidated results of operations, or consolidated cash flows. However, it is possible that the ultimate resolution of these matters, if unfavorable, may be material to our consolidated financial position, consolidated results of operations, or consolidated cash flows.

Class Action Suits and Stockholder Derivative Suits

Aphria Inc. Securities Litigation (New York, United States)

On December 5, 2018, a putative securities class action was commenced in SDNY against Aphria and certain current and former officers and directors. The action claims that the defendants misrepresented the value of three cannabis-producing properties Aphria acquired in Jamaica, Colombia, and Argentina (the “LATAM Assets”). On December 3, 2018, two notorious short-sellers issued a report about the acquisitions, claiming the LATAM Assets were non-functional or non-existent, which allegedly caused Aphria’s stock price to fall. On April 15, 2019, Aphria took impairment charges on the LATAM Assets, which also allegedly caused Aphria’s stock price to decline. The putative class action claims that Aphria artificially inflated the price of its publicly-traded stock by making false statements about the LATAM Assets, and, when the purported truth was revealed by a short-seller report and write-down, the stock price declined, harming investors.

On September 30, 2020, the Court denied the motion to dismiss the complaint as to Aphria, Vic Neufeld, and Carl Merton, and granted the motion as to Cole Cacciavillani, John Cervini, Andrew DeFrancesco, and SOL Global Investments. On October 1, 2020, Plaintiffs moved for reconsideration of the order dismissing DeFrancesco and SOL or, in the alternative, to amend their complaint. On October 14, 2020, Aphria, Neufeld, and Merton moved for reconsideration of the order denying their motion to dismiss. On September 28, 2021, the Court denied all motions for reconsideration and provided Plaintiffs with the opportunity to amend their complaint. Plaintiffs did not amend, and so the dismissals of Cacciavillani, Cervini, DeFrancesco, and SOL Investments became dismissals with prejudice.

On January 28, 2022, Plaintiffs moved for class certification, and briefing on the motion was complete as of June 28, 2022. The motion was granted, and a class was certified. On April 12, 2024, the parties filed a revised schedule for the remainder of the proceeding through trial. As of the date of this Form 10-K, the parties have completed fact discovery. The Company and the individual defendants believe the claims are without merit and will continue to vigorously defend against them, but there can be no assurances as to the outcome.

MMIRF, LLC v. Tilray Brands, Inc., et al

On December 31, 2025, MMIRF, LLC filed a complaint in the Superior Court of California, Los Angeles County, against Tilray Brands, Inc., Serruya Private Equity Inc., Superhero Acquisition Corp., Superhero Acquisition L.P., Irwin Simon, Michael Serruya, and Denise Faltischek, asserting claims for breach of fiduciary duty, aiding and abetting breach of fiduciary duty, and civil conspiracy against all defendants. The plaintiff allegedly is an assignee of claims previously possessed by MM CAN USA, Inc., a former subsidiary of MedMen Enterprises, Inc. (“MedMen”). The complaint alleges that, following a series of transactions in August 2021 pursuant to which Tilray (and other investors) acquired an interest in senior secured convertible notes of MedMen through its investment in Superhero Acquisition L.P. as a limited partner (as previously disclosed in a current report filed on Form 8-K on August 17, 2021), Tilray and the other defendants gained “de facto” control over, and thereby became fiduciaries of, MedMen. The complaint further alleges that the defendants breached those purported fiduciary duties in taking certain actions that detrimentally impacted MedMen’s business, which ultimately entered bankruptcy and receivership proceedings in April 2024. The plaintiff seeks damages in excess of $1.0 billion. Tilray intends to vigorously defend against the claims asserted in the complaint. Based on the information available as of the date of this Annual Report on Form 10-K, management does not believe that a loss is probable or reasonably estimable.

Legal Proceedings Related to Contractual Obligations

Fotmer Corporation S.A. v. Tilray Brands Inc. et al.

On January 4, 2023, Fotmer Corporation S.A. commenced an arbitration demanding $1,233 for alleged breaches by Tilray under a 2019 purchase agreement. On July 5, 2023, Tilray commenced proceedings in the Berlin Regional Court seeking $2,250 under a 2021 supply agreement, asserting that Fotmer’s alleged monetary claims under the 2019 and 2021 supply agreements are unfounded and that Fotmer owes Tilray amounts in respect of advance payments made for future deliveries, defective products, and EU GMP certification costs.

On August 8, 2023, an arbitral award was issued ordering Tilray to pay Fotmer $1,233 in connection with the 2019 supply agreement. Tilray has not paid the arbitral award and has asserted that its claims against Fotmer and the issues being litigated in Germany support equitable setoff.

On June 25, 2026, the Berlin Regional Court issued judgment decisively in Tilray’s favor, ordering Fotmer to pay Tilray $2,250, plus applicable interest and costs. The court also dismissed Fotmer’s counterclaim, which sought more than €11,000 in damages, in its entirety.

Tilray is evaluating and pursuing available enforcement options in multiple jurisdictions. Tilray will continue to vigorously pursue enforcement of the judgment against Fotmer and defend its interests in any related proceedings.

Summary of litigation accruals

As described in Note 14 (Accounts payable and accrued liabilities), the total estimated litigation expense accrual included in accrued liabilities as of May 31, 2026 and May 31, 2025 was $11,931 and $12,431, respectively. During the intervening period, the accrual decreased by $410 from settled claims and decreased $90 due to a net change in the estimated likelihood of certain claim’s settlement, with the remaining change attributable to foreign exchange effects. This estimated accrual is intended to cover various ongoing litigation matters with probable losses that can be reasonably estimated.

Note 18 - Stockholders' Equity - Summary of RSU Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025
Balance, RSUs (in shares)	21,092
Balance, weigthed average grant-date fair value , weighted average grant-date fair value (in dollars per share)	$ 160.32
Granted, RSUs (in shares)	0
Granted , weighted average grant-date fair value (in dollars per share)	$ 0
Vested, RSUs (in shares)	0
Vested , weighted average grant-date fair value (in dollars per share)	$ 0
Forfeited, RSUs (in shares)	0
Forfeited , weighted average grant-date fair value (in dollars per share)	$ 0
Balance, RSUs (in shares)	21,092	21,092
Balance, weighted average grant-date fair value (in dollars per share)	$ 160.32	$ 160.32
Vested, weighted average grant date fair value (in dollars per share)	$ 0
E I P Original Plan [Member] \| Restricted Stock Units (RSUs) [Member]
Balance, RSUs (in shares)	2,770,571
Balance, weigthed average grant-date fair value , weighted average grant-date fair value (in dollars per share)	$ 26.05
Balance, weighted average remaining contractual term (Year)	10 months 24 days	2 years 10 months 24 days
Balance, aggregate intrinsic value outstanding	$ 31,934	$ 11,794
Granted, RSUs (in shares)	4,562,669
Granted , weighted average grant-date fair value (in dollars per share)	$ 5.94
Granted, RSUs	$ 28,214
Vested, RSUs (in shares)	(1,249,757)
Vested , weighted average grant-date fair value (in dollars per share)	$ (20.84)
Vested, RSUs	$ (6,886)
Forfeited, RSUs (in shares)	(192,922)
Forfeited , weighted average grant-date fair value (in dollars per share)	$ (10.73)
Forfeited, RSUs	$ (1,133)
Cancelled, RSUs (in shares)	(82,241)
Cancelled, weighted average grant-date fair value (in dollars per share)	$ (115.15)
Cancelled, RSUs	$ (55)
Balance, RSUs (in shares)	5,808,320	2,770,571
Balance, weighted average grant-date fair value (in dollars per share)	$ 10.62	$ 26.05
Vested, weighted average grant date fair value (in dollars per share)	$ 20.84

Note 26 - Non-operating (Expense) Income

12 Months Ended

May 31, 2026

Notes to Financial Statements

Other Nonoperating Income and Expense [Text Block]

26.

Non-operating (expense) income

Non-operating (expense) income is comprised of:

	*For the year ended May 31,*
	*2026*			*2025*			*2024*
Change in fair value of convertible debenture payable	$	—		$	—		$	(19,736	)
Change in fair value of warrant liability		(3,495	)		2,161			(1,436	)
Foreign exchange gain (loss)		6,592			9,639			(4,086	)
(Loss) gain on long-term investments		(4,533	)		(5,550	)		(217	)
Unrealized loss on digital assets		(326	)		—			—
Other non-operating (losses) gains, net		392			4,034			(12,367	)
Total	$	(1,370	)	$	10,284		$	(37,842	)

Included in other non-operating (losses) gains, net for the fiscal year ended May 31, 2026, was a loss of $1,800 on the change in fair value of assets held for sale related to the Fort Collins, CO partially vacant warehouse, as described in Note 6 (capital assets), offset by a gain of $2,047 resulting from the exchange transaction of the TLRY 27 Note, as described in Note 16 (Convertible debentures payable).

Included in other non-operating (losses) gains, net for the fiscal year ended May 31, 2025, were gains of $4,034 which were mainly comprised of a $5,792 gain resulting from the exchange transaction of the TLRY 27 Note, offset by a $975 loss resulting from the downside protection from the Double Diamond Holdings dividend settlement.

Note 8 - Intangible Assets (Details Textual)	12 Months Ended
Note 8 - Intangible Assets (Details Textual)	May 31, 2025 USD ($)	May 31, 2024 USD ($)	May 31, 2026 USD ($)
Intangible Assets, Net (Excluding Goodwill), Accumulated Impairment	$ 1,263,760,000
Impairment of Intangible Assets (Excluding Goodwill)		$ 0
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Amount	285,582,000	$ 0
Measurement Input, Discount Rate [Member] \| Minimum [Member]
Impairment of Intangible Assets, Measurement Input			0.10
Measurement Input, Discount Rate [Member] \| Maximum [Member]
Impairment of Intangible Assets, Measurement Input			0.145
Measurement Input, Terminal Growth Rate [Member]
Impairment of Intangible Assets, Measurement Input			0.02
Measurement Input, Average Revenue Growth Rate [Member] \| Minimum [Member]
Impairment of Intangible Assets, Measurement Input			0.05
Measurement Input, Average Revenue Growth Rate [Member] \| Maximum [Member]
Impairment of Intangible Assets, Measurement Input			0.30
Measurement Input, Expected Term [Member]
Impairment of Intangible Assets, Measurement Input			5
Intellectual Property, Trademarks, Know How and Brands [Member]
Intangible Assets, Net (Excluding Goodwill), Accumulated Impairment	452,530,000		$ 452,530
Intangible Asset, Excluding Goodwill, Indefinite-Lived	0		0
Impairment of Intangible Assets (Excluding Goodwill)	327,059,000
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Amount	$ 121,436,000
Customer Relationships and Distribution Channel [Member]
Intangible Assets, Net (Excluding Goodwill), Accumulated Impairment			444,208
Impairment, Intangible Asset, Statement of Income or Comprehensive Income [Extensible Enumeration]	Asset, Impairment Loss
Impairment of Intangible Assets (Excluding Goodwill)	$ 334,207,000
Licenses, Permits and Applications [Member]
Intangible Assets, Net (Excluding Goodwill), Accumulated Impairment			367,022
Intangible Asset, Excluding Goodwill, Indefinite-Lived			$ 18,783
Intangible Asset, Excluding Goodwill, before Accumulated Amortization	15,047
Impairment of Intangible Assets (Excluding Goodwill)	$ 186,649,000

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	May 31, 2026
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Cybersecurity risk, management, and strategy Tilray recognizes that cybersecurity is critical to protecting our systems, data, and operations. We are committed to addressing the significant risks posed by cyber threats by proactively managing the evolving landscape through a comprehensive, enterprise wide approach. Our enterprise risk management framework considers cybersecurity risk alongside other company risks as part of our overall risk assessment process and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management framework to other legal, compliance, operational, and financial risk areas. The Company is committed to maintaining robust processes to assess, identify and mitigate material risks from cybersecurity threats and to protect against, detect and respond to cybersecurity incidents. Our business is subject to various cybersecurity risks, including but not limited to, unauthorized access to sensitive data, including customer information and medical information, disruption of operations or supply chain due to cyberattacks, theft or manipulation of intellectual property, such as proprietary strains or cultivation techniques, regulatory non-compliance resulting from cybersecurity breaches, including violations of data privacy laws. To address these risks, we have implemented a comprehensive cybersecurity program, which includes, regular risk assessments and vulnerability testing to identify and remediate potential weaknesses in our infrastructure, deployment of advanced access controls, encryption, and endpoint protection to safeguard sensitive data such as customer and medical information, mandatory annual cybersecurity training and awareness programs for all employees to reduce the risk of social engineering and phishing attacks, and continual monitoring and incident response protocols to detect, contain and respond to cybersecurity incidents in a timely and effective manner. We also have information security and data privacy policies and procedures in place applicable to our directors, officers, employees, contractors and suppliers. Third parties service providers also contribute to our overall cybersecurity. We engage third parties that are cybersecurity experts to support in the design, implementation and continuous improvement of our cybersecurity program. As of the date of this Form 10-K, we do not believe any risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, have materially affected or are reasonably likely to materially affect us, including our business strategy, results of operations or financial condition. See “Item 1A. Risk Factors” for further information about these risks.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Tilray recognizes that cybersecurity is critical to protecting our systems, data, and operations. We are committed to addressing the significant risks posed by cyber threats by proactively managing the evolving landscape through a comprehensive, enterprise wide approach. Our enterprise risk management framework considers cybersecurity risk alongside other company risks as part of our overall risk assessment process and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management framework to other legal, compliance, operational, and financial risk areas. The Company is committed to maintaining robust processes to assess, identify and mitigate material risks from cybersecurity threats and to protect against, detect and respond to cybersecurity incidents.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]	Our business is subject to various cybersecurity risks, including but not limited to, unauthorized access to sensitive data, including customer information and medical information, disruption of operations or supply chain due to cyberattacks, theft or manipulation of intellectual property, such as proprietary strains or cultivation techniques, regulatory non-compliance resulting from cybersecurity breaches, including violations of data privacy laws. To address these risks, we have implemented a comprehensive cybersecurity program, which includes, regular risk assessments and vulnerability testing to identify and remediate potential weaknesses in our infrastructure, deployment of advanced access controls, encryption, and endpoint protection to safeguard sensitive data such as customer and medical information, mandatory annual cybersecurity training and awareness programs for all employees to reduce the risk of social engineering and phishing attacks, and continual monitoring and incident response protocols to detect, contain and respond to cybersecurity incidents in a timely and effective manner. We also have information security and data privacy policies and procedures in place applicable to our directors, officers, employees, contractors and suppliers. Third parties service providers also contribute to our overall cybersecurity. We engage third parties that are cybersecurity experts to support in the design, implementation and continuous improvement of our cybersecurity program.
Cybersecurity Risk Board of Directors Oversight [Text Block]	Cybersecurity governance Cybersecurity is an important part of our risk management processes and is an area of focus for our Board, Chief Information Officer ("CIO") whom reports directly to the Chief Executive Officer, and management team. Our CIO plays a pivotal role in assessing and managing material risks stemming from cybersecurity threats and is primarily responsible for the oversight of our overall cybersecurity risk management program, and coordinates with our external cybersecurity consultants. Additionally, given that cybersecurity risks can impact various areas of responsibility of the Committees of the Board, our Board of Directors oversees cybersecurity risk management and regularly reviews our cybersecurity strategy and initiatives. The Board receives quarterly and as needed updates on cybersecurity matters from the CIO and management on topics including threat landscape developments, incident response readiness, and program enhancements. Tilray is dedicated to maintaining a robust cybersecurity program to safeguard our assets, data, and stakeholders’ interests. We remain vigilant in our efforts to identify, assess, and mitigate cybersecurity risks and are committed to transparency and accountability in our cybersecurity disclosures.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Cybersecurity is an important part of our risk management processes and is an area of focus for our Board, Chief Information Officer ("CIO") whom reports directly to the Chief Executive Officer, and management team. Our CIO plays a pivotal role in assessing and managing material risks stemming from cybersecurity threats and is primarily responsible for the oversight of our overall cybersecurity risk management program, and coordinates with our external cybersecurity consultants. Additionally, given that cybersecurity risks can impact various areas of responsibility of the Committees of the Board, our Board of Directors oversees cybersecurity risk management and regularly reviews our cybersecurity strategy and initiatives. The Board receives quarterly and as needed updates on cybersecurity matters from the CIO and management on topics including threat landscape developments, incident response readiness, and program enhancements.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Cybersecurity is an important part of our risk management processes and is an area of focus for our Board, Chief Information Officer ("CIO") whom reports directly to the Chief Executive Officer, and management team. Our CIO plays a pivotal role in assessing and managing material risks stemming from cybersecurity threats and is primarily responsible for the oversight of our overall cybersecurity risk management program, and coordinates with our external cybersecurity consultants. Additionally, given that cybersecurity risks can impact various areas of responsibility of the Committees of the Board, our Board of Directors oversees cybersecurity risk management and regularly reviews our cybersecurity strategy and initiatives. The Board receives quarterly and as needed updates on cybersecurity matters from the CIO and management on topics including threat landscape developments, incident response readiness, and program enhancements.
Cybersecurity Risk Role of Management [Text Block]	Cybersecurity is an important part of our risk management processes and is an area of focus for our Board, Chief Information Officer ("CIO") whom reports directly to the Chief Executive Officer, and management team. Our CIO plays a pivotal role in assessing and managing material risks stemming from cybersecurity threats and is primarily responsible for the oversight of our overall cybersecurity risk management program, and coordinates with our external cybersecurity consultants. Additionally, given that cybersecurity risks can impact various areas of responsibility of the Committees of the Board, our Board of Directors oversees cybersecurity risk management and regularly reviews our cybersecurity strategy and initiatives. The Board receives quarterly and as needed updates on cybersecurity matters from the CIO and management on topics including threat landscape developments, incident response readiness, and program enhancements.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Cybersecurity is an important part of our risk management processes and is an area of focus for our Board, Chief Information Officer ("CIO") whom reports directly to the Chief Executive Officer, and management team. Our CIO plays a pivotal role in assessing and managing material risks stemming from cybersecurity threats and is primarily responsible for the oversight of our overall cybersecurity risk management program, and coordinates with our external cybersecurity consultants. Additionally, given that cybersecurity risks can impact various areas of responsibility of the Committees of the Board, our Board of Directors oversees cybersecurity risk management and regularly reviews our cybersecurity strategy and initiatives. The Board receives quarterly and as needed updates on cybersecurity matters from the CIO and management on topics including threat landscape developments, incident response readiness, and program enhancements.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Cybersecurity is an important part of our risk management processes and is an area of focus for our Board, Chief Information Officer ("CIO") whom reports directly to the Chief Executive Officer, and management team. Our CIO plays a pivotal role in assessing and managing material risks stemming from cybersecurity threats and is primarily responsible for the oversight of our overall cybersecurity risk management program, and coordinates with our external cybersecurity consultants. Additionally, given that cybersecurity risks can impact various areas of responsibility of the Committees of the Board, our Board of Directors oversees cybersecurity risk management and regularly reviews our cybersecurity strategy and initiatives. The Board receives quarterly and as needed updates on cybersecurity matters from the CIO and management on topics including threat landscape developments, incident response readiness, and program enhancements.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Cybersecurity is an important part of our risk management processes and is an area of focus for our Board, Chief Information Officer ("CIO") whom reports directly to the Chief Executive Officer, and management team. Our CIO plays a pivotal role in assessing and managing material risks stemming from cybersecurity threats and is primarily responsible for the oversight of our overall cybersecurity risk management program, and coordinates with our external cybersecurity consultants. Additionally, given that cybersecurity risks can impact various areas of responsibility of the Committees of the Board, our Board of Directors oversees cybersecurity risk management and regularly reviews our cybersecurity strategy and initiatives. The Board receives quarterly and as needed updates on cybersecurity matters from the CIO and management on topics including threat landscape developments, incident response readiness, and program enhancements.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Note 22 - Cost of Goods Sold

12 Months Ended

May 31, 2026

Notes to Financial Statements

Cost of Goods Sold [Text Block]

22.

Cost of goods sold

Cost of goods sold is comprised of:

	*For the year ended May 31,*
	*2026*		*2025*		*2024*
Beverage costs	$	162,743	$	147,591	$	113,522
Cannabis costs		161,256		150,005		182,594
Distribution costs		286,589		241,896		230,596
Wellness costs		44,425		41,247		38,879
Total	$	655,013	$	580,739	$	565,591

Significant Accounting Policies (Policies)

12 Months Ended

May 31, 2026

Accounting Policies [Abstract]

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and cash equivalents

Cash and cash equivalents are comprised of cash and highly liquid investments that are both readily convertible into known amounts of cash with original maturities of three months or less. Cash and cash equivalents include amounts held in United States dollar, Canadian dollar, Euro, Australian dollar, Colombian peso, Argentine peso, British Pound Sterling, and corporate bonds, commercial paper, treasury bills and money market funds.

Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]

Restricted cash

We classify cash that is legally or contractually restricted as to withdrawal or usage as restricted cash. As of May 31, 2026, the Company reported $3,365 of restricted cash related to the funds held in trust in connection with the acquisition of BrewDog, which was completed on March 2, 2026.

Marketable Securities, Policy [Policy Text Block]

Marketable Securities

We classify term deposits and other investments that have maturities of greater than three months but less than one year as marketable securities. The fair value of marketable securities is based on quoted market prices for publicly traded securities. Marketable securities are carried at fair value with changes in fair value recorded in the consolidated statement of net loss and comprehensive loss within the line “Non-operating income (expense), net”.

Accounts Receivable [Policy Text Block]

Accounts receivable

The Company maintains an allowance for credit losses at an amount sufficient to absorb losses inherent in its accounts receivable portfolio as of the reporting dates based on the projection of expected credit losses. The Company applies the aging method to estimate the allowance for expected credit losses. The aging method is applied to accounts receivable at the business unit level to reflect shared risk characteristics, such as receivable type, customer type and geographical location. The aging method assigns accounts receivable to a level of delinquency and applies loss rates to each class based on historical loss experience. The Company also considers relevant qualitative and quantitative factors to assess whether historical loss experience should be adjusted to better reflect the risk characteristics of the current classes and the expected future loss. This assessment incorporates all available information relevant to considering the collectability of its current classes, including considering economic and business conditions, default trends, changes in its class composition, among other internal and external factors. The expected credit loss estimates are adjusted for current conditions and reasonable supportable forecasts.

As part of the Company’s analysis of expected credit losses, it may analyze contracts on an individual basis in situations where such accounts receivables exhibit unique risk characteristics and are not expected to experience similar losses to the rest of their class.

Inventory, Policy [Policy Text Block]

Inventory

Inventory is valued at the lower of cost and net realizable value, and determined by using the weighted average cost. All direct and indirect costs related to inventory are capitalized as they are incurred, and they are subsequently recorded in cost of goods sold on the consolidated statements of loss and comprehensive loss at the time inventory is sold. Net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. At the end of each reporting period, the Company performs an assessment of inventory and records write-downs for excess and obsolete inventories based on the Company’s estimated forecast of product demand, production requirements, market conditions, regulatory environment, and spoilage. Actual inventory losses may differ from management’s estimates and such differences could be material to the Company’s consolidated statements of financial position, statements of loss and comprehensive loss and statements of cash flows.

Property, Plant and Equipment, Impairment [Policy Text Block]

Capital assets

Capital assets are recorded at cost and amortized on a straight-line basis over the estimated useful lives or lease term, whichever is shorter. The Company’s capital assets are reviewed when impairment indicators are present by analyzing the underlying cash flow projections. Maintenance and repairs are charged to expenses as incurred. The Company uses the following ranges of asset lives:

Asset type	Depreciation method	Depreciation term (estimated useful life)
Production facility	Straight-line	20 – 30 years
Equipment	Straight-line	3 – 25 years
Leasehold improvements	Straight-line	Lesser of estimated useful life or lease term
Finance lease right-of-use assets	Straight-line	Lesser of the lease term and the useful life of the leased asset

Assets Held-for-Sale, Policy [Policy Text Block]

Assets held for sale

We classify capital assets that are available for immediate sale in their present condition, which the Company has approved the action or plan to sell, and the sale is probable within one year, as assets held for sale. As of May 31, 2026, the Company reported $2,449 in assets held for sale related to Atwater Brewing from its Beverage reporting unit, see Note 6 (Capital assets). Assets held for sale are measured at the lower of carrying amount and the fair value less costs to sell, and are no longer depreciated. Disposition of assets held for sale are recorded in the consolidated statement of net loss and comprehensive loss.

When there are changes in circumstances that were previously considered unlikely to occur, and it is decided not to proceed with a sale, an asset that was previously classified as assets held for sale is reclassified as held and used. The asset is then remeasured at the lower of its carrying amount before being classified as held for sale less the amortization that would have occurred and the fair value on the date the decision not to proceed with a sale was made. Changes in the carrying amount are recorded in the consolidated statement of net loss and comprehensive loss.

Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]

Intangible assets

Intangible assets are recorded at cost and amortized on a straight-line basis over the estimated useful lives. The Company uses the following ranges of asset lives:

Asset type	Amortization term
Customer relationships & distribution channel	14 – 16 years
Licences, permits & applications	12 months – indefinite
Intellectual property, trademarks & brands	15 months – 25 years
Non-compete agreements	Over term of non-compete
Know how	5 years

Multi-year sports and other sponsorships rights are capitalized in Licenses, permits & applications and are amortized over the life of the contract.

Long-Lived Asset, Excluding Intangible Asset and Goodwill, Impairment and Disposal [Policy Text Block]

Impairment of long-lived assets

The Company reviews long-lived assets, including capital assets and definite life intangible assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. In order to determine if assets have been impaired, assets are grouped and tested at the lowest level for which identifiable independent cash flows are available (“asset group”). An impairment loss is recognized when the sum of projected undiscounted cash flows is less than the carrying value of the asset group. The measurement of the impairment loss to be recognized is based on the difference between the fair value and the carrying value of the asset group. Fair value may be determined using a market approach or income approach.

Business Combinations and Goodwill [Policy Text Block]

Business combinations and goodwill

The Company accounts for business combinations using the acquisition method in accordance with Accounting Standards Codification, ASC 805, Business Combinations which requires recognition of assets acquired and liabilities assumed, including contingent assets and liabilities, at their respective fair values on the date of acquisition.

Contingent consideration is measured at its acquisition-date fair value and included as part of the consideration transferred in a business combination. Contingent consideration that is classified as a liability is remeasured at subsequent reporting dates, with the corresponding gain or loss recognized in profit or loss.

Non-controlling interests in the acquiree are measured at fair value on acquisition date. Acquisition-related costs are recognized as expenses in the periods in which the costs are incurred and the services are received (except for the costs to issue debt or equity securities which are recognized according to specific requirements).

Purchase price allocations may be preliminary and, during the measurement period not to exceed one year from the date of acquisition, changes in assumptions and estimates that result in adjustments to the fair value of assets acquired and liabilities assumed are recorded in the period the adjustments are determined.

Goodwill represents the excess of the consideration transferred for the acquisition of subsidiaries over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. Following initial recognition, goodwill is measured at cost less any accumulated impairment losses.

Long-Lived Asset, Including Intangible Asset and Goodwill, Impairment and Disposal [Policy Text Block]

Impairment of goodwill and indefinite-lived intangible assets

Goodwill is allocated to the reporting unit in which the business that created the goodwill resides. A reporting unit is an operating segment, or a business unit one level below that operating segment, for which discrete financial information is prepared and regularly reviewed by segment management. We operate in four operating segments, which are our reporting units, and goodwill is allocated at the operating segment level. The Company reviews goodwill and indefinite-lived intangible assets annually for impairment in the fourth quarter, or more frequently if events or circumstances indicate that the carrying amount of an asset may not be recoverable.

In performing its annual goodwill impairment test, the Company first assesses qualitative factors including macroeconomic factors, industry trends, cost factors, overall financial performance and the Company’s share price and resultant market value capitalization in comparison to its book value to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If further testing is required, the Company estimates the fair value of the reporting unit using valuation approaches that may include discounted cash flow, market, and asset-based methodologies. These analyses require significant judgment, including assumptions related to future cash flows, long-term growth rates, probability of anticipated EU and U.S. cannabis regulatory changes, profitability, and discount rates. If the carrying value of a reporting unit exceeds its fair value, an impairment charge is recognized for the amount by which the carrying value exceeds the reporting unit’s fair value, not to exceed the carrying amount of goodwill.

Lessee, Leases [Policy Text Block]

Leases

Arrangements containing leases are evaluated as an operating or finance lease at lease inception. For operating leases, the Company recognizes an operating lease right-of-use (“ROU”) asset and operating lease liability at lease commencement based on the present value of lease payments over the lease term. With the exception of certain finance leases, an implicit rate of return is not readily determinable for the Company's leases. For these leases, an incremental borrowing rate is used in determining the present value of lease payments and is calculated based on information available at the lease commencement date.

The incremental borrowing rate is determined using a portfolio approach based on the rate of interest the Company would have to pay to borrow funds on a collateralized basis over a similar term. The Company references market yield curves which are risk-adjusted to approximate a collateralized rate in the currency of the lease. These rates are updated on a quarterly basis for measurement of new lease obligations.

The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. Leases with an initial term of 12 months or less are not recognized on the Company's consolidated statements of financial position. Operating lease assets are presented as right-of-use assets, and corresponding operating lease liabilities are presented within lease liabilities, on the Company’s consolidated statements of financial position. Finance lease assets are included in capital assets, and corresponding finance lease liabilities are included within current lease liabilities, on the Company’s consolidated statements of financial position.

Investment, Policy [Policy Text Block]

Long-term investments

Investments in equity securities of entities over which the Company does not have a controlling financial interest or significant influence are classified as an equity investment and accounted for at fair value. Equity investments without readily determinable fair values are measured at cost with adjustments for observable changes in price or impairments (referred to as the “measurement alternative”). In applying the measurement alternative, the Company performs a qualitative assessment on a quarterly basis and recognizes an impairment if there are sufficient indicators that the fair value of an individual equity investment is less than its carrying value. Changes in value are recorded in the consolidated statement of net loss and comprehensive loss, within the line, “Non-operating income (expense), net”.

Equity Method Investments [Policy Text Block]

Equity method investments

Investments in entities over which the Company does not have a controlling financial interest but has significant influence, are accounted for using the equity method, with the Company’s share of losses reported in loss from equity method investments on the statements of loss and comprehensive loss in "Other non-operating (losses) gains, net". Equity method investments are recorded at cost, plus the Company’s share of undistributed earnings or losses, and impairment, if any, within interest in equity investees on the statements of financial position.

Debt, Policy [Policy Text Block]

Convertible debentures

The Company accounts for its convertible debentures in accordance with ASC 470-20 Debt with Conversion and Other Options, whereby the convertible instrument is initially accounted for as a single unit of account, unless it contains a derivative that must be bifurcated from the host contract in accordance with ASC 815-15 Derivatives and Hedging – Embedded Derivatives or the substantial premium model in ASC 470-20 Debt – Debt with Conversion and Other Options applies. Where the substantial premium model applies, the premium is recorded in additional paid-in capital. The resulting debt discount is amortized over the period during which the convertible notes are expected to be outstanding as additional non-cash interest expenses.

Upon repurchase of convertible debt instruments, ASC 470-20 requires the issuer to allocate total settlement consideration, inclusive of transaction costs, amongst the liability and equity components of the instrument based on the fair value of the liability component immediately prior to repurchase. The difference between the settlement consideration allocated to the liability component and the net carrying value of the liability component, including unamortized debt issuance costs, would be recognized as gain (loss) on extinguishment of debt in the statements of loss and comprehensive loss. The remaining settlement consideration allocated to the equity component would be recognized as a reduction of additional paid-in capital in the statements of financial position.

For convertible debentures with an embedded conversion feature that did not meet the equity scope exception from derivative accounting pursuant to ASC 815-15, the Company elected the fair value option under ASC 825 Fair Value Measurements. When the fair value option is elected, the convertible debenture is initially recognized at fair value on the statements of financial position and all subsequent changes in fair value, excluding the impact of the change in fair value related to instrument-specific credit risk are recorded in non-operating income (loss). The changes in fair value related to instrument-specific credit risk is recorded through other comprehensive income (loss). Transaction costs directly attributable to the issuance of the convertible debenture is immediately expensed in the statements of loss and comprehensive loss.

Derivatives, Policy [Policy Text Block]

Warrants

Warrants are accounted for in accordance with applicable accounting guidance provided in ASC 815 Derivatives and Hedging – Contracts in Entity's Own Equity, as either liabilities or as equity instruments depending on the specific terms of the warrant agreement. Warrants classified as liabilities are recorded at fair value and are remeasured at each reporting date until settlement. Changes in fair value are recognized as change in fair value of the warrant liability in the consolidated statements of loss and comprehensive loss. Transaction costs allocated to warrants that are presented as a liability are immediately expensed in the statements of loss and comprehensive loss. Warrants classified as equity instruments are initially recognized at fair value and are not subsequently remeasured.

Fair Value Measurement, Policy [Policy Text Block]

Fair value measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The carrying values of accounts receivable, prepaids and other current assets, bank indebtedness and accounts payable and accrued liabilities approximate their fair values due to their short periods to maturity. The Company calculates the estimated fair value of financial instruments, including convertible notes receivable, long-term investments, warrant liability, contingent consideration, and convertible debentures, using quoted market prices when available. When quoted market prices are not available, fair value is determined based on valuation techniques using the best information available and may include quoted market prices, market comparable, and discounted cash flow projections.

Income Tax, Policy [Policy Text Block]

Income taxes

Income taxes are recognized in the consolidated statements of loss and comprehensive loss and are comprised of current and deferred taxes. Current tax is recognized in connection with income for tax purposes, unrealized tax benefits and the recovery of tax paid in a prior period and measured using enacted tax rates and laws applicable to the taxation period during which the income for tax purposes arose. Deferred tax assets and liabilities are determined based on the differences between the financial reporting and the tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Management makes an assessment of the likelihood that a deferred tax asset will be realized, and a valuation allowance is provided to the extent that it is more likely than not that all or a portion of a deferred tax asset will not be realized.

The Company recognizes uncertain income tax positions at the largest amount that is more likely than not to be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. A change in the recognition or measurement of an unrealized tax benefit is reflected in the period during which the change occurs.

Revenue from Contract with Customer [Policy Text Block]

Revenue

Revenue is recognized when the control of the promised goods or services, through performance obligation, is transferred or provided to the customer in an amount that reflects the consideration we expect to be entitled to in exchange for the performance obligations.

Excise taxes remitted to tax authorities are government-imposed excise taxes on cannabis and beer. Excise taxes are recorded as a reduction of sales in net revenue in the consolidated statements of loss and comprehensive loss and recognized as a current liability within accounts payable and accrued liabilities on the consolidated balance sheets, with the liability subsequently reduced when the taxes are remitted to the tax authority.

In addition, amounts disclosed as net revenue are net of excise taxes, sales tax, duty tax, allowances, discounts and rebates.

In determining the transaction price for the sale of goods or services, the Company considers the effects of variable consideration and the existence of significant financing components, if any.

We may enter into certain contracts for the sale of goods or services, which provide customers with rights of return, volume discounts, bonuses for volume/quality achievement, and/or sales allowances. In addition, the Company may provide in certain circumstances, a retrospective price reduction to a customer based primarily on inventory movement. The inclusion of these items may give rise to variable consideration. The Company uses the expected value method to estimate the variable consideration because this method provides the most accurate estimation of the amount of variable consideration to which the Company will be entitled. The Company uses historical evidence, current information and forecasts to estimate the variable consideration. The Company reduces revenue and recognizes a contract liability, recorded in accounts receivable, net, equal to the amount expected to be refunded to the customer in the form of a future rebate or credit for a retrospective price reduction, representing its obligation to return the customer’s consideration. The estimate is updated at each reporting period date.

Cost of Goods and Service [Policy Text Block]

Cost of goods sold

Cost of goods sold represents costs directly related to manufacturing and distribution of the Company’s products. Primary costs include raw materials, packaging, direct labor, overhead, shipping and handling, the amortization of manufacturing equipment and production facilities and tariffs. Manufacturing overhead and related expenses include salaries, wages, employee benefits, utilities, maintenance and property taxes. Cost of goods sold also includes inventory valuation adjustments.

General and Administrative Expenses, Policy [Policy Text Block]

General and administrative

General and administrative expenses are comprised primarily of (i) personnel related costs such as salaries, benefits, annual employee bonus expense and stock-based compensation costs; (ii) legal, accounting, consulting and other professional fees; and (iii) corporate insurance and other facilities costs associated with our corporate and administrative locations.

Selling [Policy Text Block]

Selling

Selling expenses are comprised of direct selling costs which primarily consist of (i) commissions paid to our third-party workforce, (ii) patient acquisition and maintenance fees, (iii) Health Canada’s cannabis fees and (iv) outbound freight.

Marketing and Promotions [Policy Text Block]

Marketing and promotion

Marketing and promotion expenses are comprised primarily of marketing and advertising expenses.

Research and Development Expense, Policy [Policy Text Block]

Research and development

Research and development costs are expensed as incurred. Research and development are comprised primarily of costs for clinical study costs, contracted research, consulting services, materials, supplies and other expenses incurred to sustain our overall research and development programs.

Share-Based Payment Arrangement [Policy Text Block]

Stock-based compensation

The Company has an omnibus plan which includes issuances of stock options, restricted stock units (“RSUs”) and stock appreciation rights (“SARs”). The Company estimates the fair value of stock options on the date of grant using the Black-Scholes option pricing model. The fair value of RSUs is based on the share price as at date of grant and no SARs were issued to date. The share-based compensation expense is based on the fair value of the stock-based awards at the grant date and the expense is recognized over the related service period following a straight-line vesting expense schedule. The Company estimates forfeitures at the time of grant and revises these estimates in subsequent periods if actual forfeitures differ from those estimates. Any revisions are recognized in the consolidated statements of loss and comprehensive loss such that the cumulative expense reflects the revised estimate.

For performance-based stock options and RSUs, the Company records compensation expense over the estimated service period adjusted for a probability factor of achieving the performance-based milestones. At each reporting date, the Company assesses the probability factor and records compensation expense accordingly, net of estimated forfeitures.

Transaction Costs Policy [Policy Text Block]

Transaction (income) costs, net

The Company expenses costs net of any gains directly attributable to business acquisitions and classifies these items as transaction (income) costs, net. These items include among other things, legal fees to complete the acquisition, financial advisor and due diligence costs, and transaction related compensation. These items are recognized as incurred.

Earnings Per Share, Policy [Policy Text Block]

Earnings (loss) per share

Basic earnings (loss) per share is computed by dividing reported net income (loss) attributable to stockholders of Tilray Brands, Inc. by the weighted average number of common shares outstanding during the year. Diluted earnings (loss) per share is computed by dividing reported net income (loss) attributable to stockholders of Tilray Brands, Inc. by the sum of the weighted average number of common shares and the number of dilutive potential common share equivalents outstanding during the period. Potential dilutive common share equivalents consist of the incremental common shares issuable upon the exercise of vested share options, warrants, and RSUs and the incremental shares issuable upon conversion of the convertible debentures and similar instruments. Shares of common stock outstanding under the share lending arrangement entered into in conjunction with the TLRY 27 Notes, see Note 16 (Convertible debentures payable) are excluded from the calculation of basic and diluted earnings per share because the borrower of the shares is required to refund any dividends paid on the shares lent under the share lending arrangement.

In computing diluted earnings (loss) per share, common share equivalents are not considered in periods in which a net loss is reported, as the inclusion of the common share equivalents would be anti-dilutive. For the fiscal years ended May 31, 2026 and May 31, 2025, the dilutive potential common share equivalents outstanding consisted of the following: 7,583,186 and 2,132,358 common shares from RSUs, 303,148 and 303,139 common shares from share options, nil and 620,900 common shares for warrants and 3,314,080 and 3,954,802 common shares for convertible debentures, respectively. Current and prior year share amounts have been retrospectively adjusted to reflect the Reverse Stock Split, which became effective on December 2, 2025.

Digital Assets [Policy Text Block]

Digital Assets

In December 2023, FASB issued ASU 2023-08, Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets. ASU 2023-08 requires certain crypto assets to be measured at fair value separately on the balance sheet with gains and losses from changes in the fair value reported as unrealized gains or losses in the consolidated statement of income (loss) and comprehensive income (loss) each reporting period. ASU 2023-08 also enhances the other intangible asset disclosure requirements by requiring the name, cost basis, fair value, and number of units for each significant crypto asset holding. In conjunction with the acquisition of digital assets during the fiscal quarter ended August 31, 2025, the Company adopted and applied ASU-2023-08 henceforth.

The Company's digital assets are initially recorded at cost, and are subsequently measured at fair value as of each reporting period. The Company determines the fair value of its digital assets in accordance with ASC 820, Fair Value Measurement, based on quoted prices in its principal market for Bitcoin (Level 1). Changes in fair value are recognized as incurred in the Company's consolidated statement of income (loss) and comprehensive income (loss), as “Unrealized (gain) loss on digital assets,” within non-operating (income) and expenses, net. Cash flows associated with the purchase and sale of digital assets are classified as investing activities in the Company's consolidated statements of cash flows.

Use of Estimates, Policy [Policy Text Block]

Critical accounting estimates and judgments

The preparation of the Company’s financial statements requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, revenues and expenses. These estimates and judgements are subject to change based on experience and new information which could result in outcomes that require a material adjustment to the carrying amounts of assets or liabilities affecting future periods. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized prospectively.

Financial statement areas that require significant judgement and estimates are as follows:

Estimated useful lives, impairment considerations and amortization of capital and intangible assets – Amortization of capital and intangible assets is dependent upon estimates of useful lives based on management’s judgment.

Goodwill and indefinite-lived intangible asset impairment testing require management to make estimates in the impairment testing model. On at least an annual basis, the Company tests whether goodwill and indefinite-lived intangible assets are impaired. Impairment of definite long-lived assets is influenced by judgment in defining a reporting unit and determining the indicators of impairment, and estimates used to measure impairment losses. Management uses significant judgement in assessing the qualitative factors to be considered in the qualitative goodwill impairment assessment, including macroeconomic factors, industry trends, cost factors, overall financial performance and the Company’s share price and resultant market value capitalization in comparison to its book value.

The reporting unit’s fair value is determined using discounted future cash flow models, which incorporate assumptions regarding future events, specifically future cash flows, growth rates, probability of anticipated EU and U.S. cannabis regulatory changes and discount rates.

Business combinations – Judgement is used in determining whether an acquisition is a business combination or an asset acquisition. Judgment may also be required in determining the date on which control of an acquired business is obtained, particularly in situations involving pending regulatory approvals, licensing transfers or other administrative matters, where management must evaluate all relevant facts and circumstances to determine the acquisition date for accounting purposes. We use judgement in applying the acquisition method of accounting for business combinations and estimates to value contingent consideration, identifiable assets and liabilities assumed at the acquisition date. Estimates are used to determine cash flow projections, including the period of future benefit, and future growth and discount rates, among other factors. In certain circumstances, management also considers whether economic obsolescence or other market participant assumptions should be reflected in the valuation of acquired assets, including where external economic factors, market conditions, asset utilization, or the transaction price indicate that replacement cost may not be representative of acquisition-date fair value. The values allocated to the acquired assets and liabilities assumed affect the amount of goodwill recorded on acquisition. Fair value of assets acquired and liabilities assumed is typically estimated using an income approach, which is based on the present value of future discounted cash flows. Significant estimates in the discounted cash flow model include the discount rate, rate of future revenue growth and profitability of the acquired business and working capital effects. The discount rate considers the relevant risk associated with the business-specific characteristics and the uncertainty related to the ability to achieve projected cash flows. These estimates and the resulting valuations require significant judgment. Management engages third party experts to assist in the valuation of material acquisitions.

New Accounting Pronouncements, Policy [Policy Text Block]

New accounting pronouncements not yet adopted

In August 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-05, Business Combination - Joint Venture Formations (Subtopic 805-60) Recognition and Initial Measurement (“ASU 2023-05”), which is intended to address the accounting for contributions made to a joint venture. ASU 2023-05 is effective for the Company beginning June 1, 2026. This update will be applied prospectively and the Company is currently evaluating the effect of adopting this ASU.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires disaggregated disclosure of income statement expenses for public business entities. ASU 2024-03 is effective for the Company beginning fiscal year ended May 31, 2028 and will be disclosed in the Annual Report on Form 10-K for such period. The Company is currently evaluating the effect of adopting this ASU.

New accounting pronouncements recently adopted

In November 2024, the FASB issued ASU 2024-04, Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments, which seeks to clarify the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. The Company adopted ASU 2024-04 beginning June 1, 2025, however, it did not have any impact on our consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) Improvements to Income Tax Disclosures, which requires public entities to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold on an annual basis. We adopted ASU 2023-09 in our Form 10-K for the period ended May 31, 2026, on a prospective basis, see Note 12 (Income taxes and deferred income taxes).

Note 29 - Segment Reporting - Schedule of Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
Net revenue	$ 915,454	$ 821,309	$ 788,942
Cost of goods sold	655,013	580,739	565,591
Gross Profit	260,441	240,570	223,351
General and administrative	203,629	167,324	167,358
Selling	49,328	56,039	37,233
Amortization	19,585	88,616	84,752
Marketing and promotion	42,290	37,048	41,933
Research and development	361	284	635
Change in fair value of contingent consideration	(15,000)	0	(15,790)
Asset, Impairment Loss	0	2,096,139	0
Other than temporary change in fair value of convertible notes receivable	0	21,661	42,681
Litigation costs, net of recoveries	3,902	17,347	8,251
Restructuring costs	13,113	34,283	15,581
Transaction costs (income), net	6,260	4,534	15,462
Total operating expenses	323,468	2,523,275	398,096
Operating loss	(63,027)	(2,282,705)	(174,745)
Interest expense, net	(23,663)	(29,952)	(36,433)
Nonoperating Income (Expense)	(1,370)	10,284	(37,842)
Loss before income taxes	(88,060)	(2,302,373)	(249,020)
Income tax expense (recovery), net	17,098	(121,017)	(26,616)
Net loss	(105,158)	(2,181,356)	(222,404)
Cannabis Segment [Member]
Net revenue	268,342	249,001	272,798
Cost of goods sold	161,256	150,005	182,594
Gross Profit	107,086	98,996	90,204
Revenue	352,306	330,609	370,692
Excise taxes	(83,964)	(81,608)	(97,894)
Cannabis Segment [Member] \| Medical Cannabis Products [Member]
Revenue	23,726	24,998	25,211
Cannabis Segment [Member] \| Adult-use Cannabis Products [Member]
Revenue	236,352	224,048	266,846
Cannabis Segment [Member] \| Wholesale Cannabis Products [Member]
Revenue	7,318	18,207	25,340
Cannabis Segment [Member] \| International Cannabis Products [Member]
Revenue	84,910	63,356	53,295
Beverage Alcohol Business [Member]
Net revenue	253,976	240,595	202,094
Cost of goods sold	162,743	147,591	113,522
Gross Profit	91,233	93,004	88,572
Revenue	265,457	253,181	213,614
Excise taxes	(11,481)	(12,586)	(11,520)
Distribution Business [Member]
Net revenue	327,244	271,228	258,740
Cost of goods sold	286,589	241,896	230,596
Gross Profit	40,655	29,332	28,144
Wellness Business [Member]
Net revenue	65,892	60,485	55,310
Cost of goods sold	44,425	41,247	38,879
Gross Profit	$ 21,467	$ 19,238	$ 16,431

Note 8 - Intangible Assets (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Intangible Asset, Finite-Lived [Table Text Block]

	*Customer relationships & distribution channel*			*Licenses, permits & applications*			*Intellectual property, trademarks, knowhow & brands*			*May 31,*
										*2026*
Cost	$	6,793		$	24,573		$	26,633		$	57,999
Accumulated amortization		(264	)		(5,707	)		(9,249	)		(15,220	)
Total	$	6,529		$	18,866		$	17,384		$	42,779

	*Customer relationships & distribution channel*			*Licenses, permits & applications*			*Non-compete agreements*			*Intellectual property, trademarks, knowhow & brands*			*May 31,*
													*2025*
Cost	$	610,240		$	387,238		$	12,449		$	618,514		$	1,628,441
Accumulated amortization		(166,032	)		(9,693	)		(12,449	)		(155,084	)		(343,258	)
Accumulated impairment losses		(444,208	)		(367,022	)		—			(452,530	)		(1,263,760	)
Total	$	—		$	10,523		$	—		$	10,900		$	21,423

Intangible Asset, Finite-Lived, and Capitalized Cost, Software to be Sold, Leased, or Marketed, Estimated Amortization Expense [Table Text Block]

	*Amortization*
2027	$	13,563
2028		13,563
2029		4,130
2030		4,130
2031		4,130
Thereafter		3,263
Total	$	42,779

Note 19 - Accumulated Other Comprehensive Loss

12 Months Ended

May 31, 2026

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

19.

Accumulated other comprehensive loss

Accumulated other comprehensive loss includes the following components:


	*Foreign*
	*currency*
	*translation*
	*gain (loss)*
Balance May 31, 2023	$	(46,610	)
Other comprehensive income (loss)		3,111
Balance May 31, 2024	$	(43,499	)
Other comprehensive income (loss)		436
Balance May 31, 2025	$	(43,063	)
Other comprehensive income (loss)		(1,170	)
Balance May 31, 2026	$	(44,233	)

Note 12 - Income Taxes and Deferred Income Taxes - Schedule of Domestic and Foreign Income before Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
United States	$ (115,357)	$ (1,648,187)	$ (126,735)
Loss before income taxes	(88,060)	(2,302,373)	(249,020)
CANADA
Foreign	(17,409)	(277,811)	(106,822)
Others Countries [Member]
Foreign	$ 44,706	$ (376,375)	$ (15,463)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147478671/942-235-S50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
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-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
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-Section 55
-Paragraph 48
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-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
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-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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-Subparagraph (ee)
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 15: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 16: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Note 28 - Financial Risk Management and Financial Instruments (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

							*May 31,*
	*Level 1*		*Level 2*		*Level 3*		*2026*
Financial assets
Cash and cash equivalents	$	225,977	$	—	$	—	$	225,977
Marketable securities		5,289		—		—		5,289
Equity investments measured at fair value		1,197		990		4,364		6,551
Total recurring fair value measurements	$	232,463	$	990	$	4,364	$	237,817

								*May 31,*
	*Level 1*		*Level 2*		*Level 3*			*2025*
Financial assets
Cash and cash equivalents	$	221,666	$	—	$	—		$	221,666
Marketable Securities		34,697		—		—			34,697
Equity investments measured at fair value		909		1,063		8,160			10,132
Financial liabilities
Warrant liability		—		—		(1,092	)		(1,092	)
Contingent consideration		—		—		(15,000	)		(15,000	)
Total recurring fair value measurements	$	257,272	$	1,063	$	(7,932	)	$	250,403

Crypto Asset, Holding [Table Text Block]

	Quantity		Cost Basis		Fair Value		Cumulative Unrealized Gain (Loss)
Bitcoin		9.16	$	1,000	$	674	$	(326	)
Total digital assets		9.16	$	1,000	$	674	$	(326	)

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

	Equity			Warrant			Contingent
	Investments			Liability			Consideration
Balance, May 31, 2025	$	8,160		$	(1,092	)	$	(15,000	)
Unrealized gain (loss) on fair value		(3,796	)		(3,495	)		15,000
Instruments exercised		—			4,587			—
Balance, May 31, 2026	$	4,364		$	—		$	—

													*APHA 24*
	*Convertible*			*Equity*			*Warrant*			*Contingent*			*Convertible*
	*notes receivable*			*Investments*			*Liability*			*Consideration*			*Debt*
Balance, May 31, 2024	$	32,000		$	5,500		$	(3,253	)	$	(15,000	)	$	(330	)
Additions/(Repayments)		(12,000	)		8,160			—			—			330
Unrealized gain (loss) on fair value		—			(5,500	)		2,161			—			—
Impairments		(20,000	)		—			—			—			—
Balance, May 31, 2025	$	—		$	8,160		$	(1,092	)	$	(15,000	)	$	—

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

		*Significant*
	*Valuation*	*unobservable*
Financial asset / financial liability	*technique*	*input*	*Inputs*
Equity investments	Discounted cash flows	Probability of achievement	70%

Accounts Receivable, Noncurrent, Past Due [Table Text Block]

	*Total*			*0-30 days*			*31-60 days*			*61-90 days*			*90+ days*
Accounts receivable, net	$	189,170		$	128,759		$	23,833		$	27,480		$	9,098
		100	%		68	%		13	%		15	%		5	%

Accounts Receivable, Allowance for Credit Loss [Table Text Block]

	*Balance at the beginning of period*		Movement during the year⁽¹⁾			*Balance at end of period*
Fiscal year ended May 31, 2026
Allowance for doubtful accounts and credit loss provision	$	3,702	$	(546	)	$	3,156
Fiscal year ended May 31, 2025
Allowance for doubtful accounts and credit loss provision		7,714		(4,012	)		3,702
Fiscal year ended May 31, 2024
Allowance for doubtful accounts and credit loss provision		6,641		1,073			7,714

Note 3 - Significant Accounting Policies - Summary of Useful Lives of Property, Plant and Equipment (Details)	May 31, 2026
Production Facility [Member] \| Minimum [Member]
Useful Life (Year)	20 years
Production Facility [Member] \| Maximum [Member]
Useful Life (Year)	30 years
Equipment [Member] \| Minimum [Member]
Useful Life (Year)	3 years
Equipment [Member] \| Maximum [Member]
Useful Life (Year)	25 years

Note 14 - Accounts Payable and Accrued Liabilities

12 Months Ended

May 31, 2026

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

14.

Accounts payable and accrued liabilities

Accounts payable and accrued liabilities comprised of:

	*May 31,*		*May 31,*
	*2026*		*2025*
Trade payables	$	114,538	$	107,348
Accrued liabilities		135,906		103,260
Litigation accrual		11,931		12,431
Accrued payroll and employment related taxes		20,013		1,436
Income taxes payable		12,667		58
Accrued interest		3,258		4,193
Sales taxes payable		19,775		6,596
Total	$	318,088	$	235,322

Note 12 - Income Taxes and Deferred Income Taxes - Schedule of Income Taxes Paid (Details) $ in Thousands	12 Months Ended
	May 31, 2026 USD ($)
State, income tax paid	$ 1,419
Foreign, income tax paid	(1,184)
Grand Total, income tax paid	235
Internal Revenue Service (IRS) [Member]
Federal, income tax paid	397
New York State Division of Taxation and Finance [Member]
State, income tax paid	803
Colorado Tax Authority [Member]
State, income tax paid	13
Illinois Tax Authority [Member]
State, income tax paid	14
Massachusetts Tax Authority [Member]
State, income tax paid	12
North Carolina Tax Authority [Member]
State, income tax paid	25
New Jersey Division of Taxation [Member]
State, income tax paid	17
Oregon Tax Authority [Member]
State, income tax paid	35
Souht Carolina Tax Authority [Member]
State, income tax paid	21
Tennessee Tax Authority [Member]
State, income tax paid	29
Other State Tax Authorities [Member]
State, income tax paid	53
Canada Revenue Agency [Member]
Federal, income tax paid	(529)
British Columbia Tax Authority [Member]
Federal, income tax paid	(468)
Ontario Tax Authority [Member]
Federal, income tax paid	38
Federal Ministry of Finance, Germany [Member]
Foreign, income tax paid	$ (225)

Note 29 - Segment Reporting

12 Months Ended

May 31, 2026

Notes to Financial Statements

Segment Reporting [Text Block]

29.

Segment reporting

Our Company’s Chief Operating Decision Maker (“CODM”) is the Chairman of the Board of Directors and Chief Executive Officer. The CODM uses segment gross profit for the purpose of resource allocation, assessment of segment performance against determined targets, and in deciding whether to implement cost saving targets. The Company operates in four segments. 1) cannabis operations, which encompasses the production, distribution, sale, co-manufacturing and advisory services of both medical and adult-use cannabis, 2) beverage operations, which encompasses the production, marketing and sale of beverage products, 3) distribution operations, which encompasses the purchase and resale of pharmaceuticals products to customers, and 4) wellness products, which encompasses hemp foods and cannabidiol (“CBD”) products. This structure is in line with how our CODM assesses our performance and allocates resources.

Operating segments have not been aggregated and no asset information is provided for the segments because the Company’s CODM does not receive asset information by segment on a regular basis.

The following tables reconcile the Company’s segment gross profit to consolidated U.S. GAAP results:

	*For the year ended May 31,*
	*2026*		*2025*		*2024*
Beverage
Net beverage revenue	$	253,976	$	240,595	$	202,094
Beverage costs		162,743		147,591		113,522
Beverage gross profit		91,233		93,004		88,572
Cannabis
Net cannabis revenue		268,342		249,001		272,798
Cannabis costs		161,256		150,005		182,594
Cannabis gross profit		107,086		98,996		90,204
Distribution
Distribution revenue		327,244		271,228		258,740
Distribution costs		286,589		241,896		230,596
Distribution gross profit		40,655		29,332		28,144
Wellness
Wellness revenue		65,892		60,485		55,310
Wellness costs		44,425		41,247		38,879
Wellness gross profit		21,467		19,238		16,431
Total
Total revenue		915,454		821,309		788,942
Total costs		655,013		580,739		565,591
Total gross profit	$	260,441	$	240,570	$	223,351

Segment costs are comprised of cost of goods sold which include product costs, salaries and an allocation of overhead costs.

The following table reconciles the total segment gross profit to the Company’s consolidated totals:

	*For the year ended May 31,*
	*2026*			*2025*			*2024*
Gross profit	$	260,441		$	240,570		$	223,351

Operating expenses:
General and administrative		203,629			167,324			167,358
Selling		49,328			56,039			37,233
Amortization		19,585			88,616			84,752
Marketing and promotion		42,290			37,048			41,933
Research and development		361			284			635
Change in fair value of contingent consideration		(15,000	)		—			(15,790	)
Impairment of intangible assets and goodwill		—			2,096,139			—
Other than temporary change in fair value of convertible notes receivable		—			21,661			42,681
Litigation costs, net of recoveries		3,902			17,347			8,251
Restructuring costs		13,113			34,283			15,581
Transaction costs (income), net		6,260			4,534			15,462
Total operating expenses		323,468			2,523,275			398,096
Operating loss		(63,027	)		(2,282,705	)		(174,745	)
Interest expense, net		(23,663	)		(29,952	)		(36,433	)
Non-operating income (expense), net		(1,370	)		10,284			(37,842	)
Loss before income taxes		(88,060	)		(2,302,373	)		(249,020	)
Income tax expense (recovery), net		17,098			(121,017	)		(26,616	)
Net loss	$	(105,158	)	$	(2,181,356	)	$	(222,404	)

Channels of cannabis revenue were as follows:

	*For the year ended May 31,*
	*2026*			*2025*			*2024*
Revenue from Canadian medical cannabis	$	23,726		$	24,998		$	25,211
Revenue from Canadian adult-use cannabis		236,352			224,048			266,846
Revenue from wholesale cannabis		7,318			18,207			25,340
Revenue from international cannabis		84,910			63,356			53,295
Less excise taxes		(83,964	)		(81,608	)		(97,894	)
Total	$	268,342		$	249,001		$	272,798

There was $nil of cannabis advisory services revenue for the fiscal year ended May 31, 2026, compared to $1,460 and $1,500 for the fiscal years ended May 31, 2025 and 2024, respectively.

Geographic net revenue:

	*For the year ended May 31,*
	*2026*		*2025*		*2024*
USA	$	242,390	$	273,695	$	233,141
Canada		215,661		212,860		243,722
EMEA		445,698		323,350		296,450
Rest of World		11,705		11,404		15,629
Total	$	915,454	$	821,309	$	788,942

Geographic capital assets:

	*May 31,*		*May 31,*
	*2026*		*2025*
USA	$	207,592	$	200,003
Canada		245,799		267,458
EMEA		202,598		97,371
Rest of World		24,236		3,601
Total	$	680,225	$	568,433

Major customers are defined as customers that each individually account for greater than 10% of the Company’s annual revenues. For the fiscal years ended May 31, 2026, 2025 and 2024, there were no major customers representing greater than 10% of our annual revenues.

- Definition

The entire disclosure for segment reporting.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 34
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Publisher FASB
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

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-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 15: http://www.xbrl.org/2003/role/exampleRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Note 2 - Basis of Preparation (Details Textual)	Dec. 02, 2025
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	10

Note 28 - Financial Risk Management and Financial Instruments - Summary of Digital Asset Holdings (Details) $ in Thousands	May 31, 2026 USD ($)
Crypto Asset, Number of Units, Fractional	9.16
Digital assets, cost	$ 1,000
Digital assets, fair value	674
Digital assets, cumulative unrealized gain (loss)	$ (326)
Bitcoin [Member]
Crypto Asset, Number of Units, Fractional	9.16
Digital assets, cost	$ 1,000
Digital assets, fair value	674
Digital assets, cumulative unrealized gain (loss)	$ (326)

Note 12 - Income Taxes and Deferred Income Taxes (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

	*For the year ended May 31,*
	*2026*			*2025*			*2024*
United States	$	(115,357	)	$	(1,648,187	)	$	(126,735	)
Canada		(17,409	)		(277,811	)		(106,822	)
Other countries		44,706			(376,375	)		(15,463	)
	$	(88,060	)	$	(2,302,373	)	$	(249,020	)

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	For the year ended
	May 31, 2026
Current:
Federal	$	164
State		1,302
Foreign		7,617
Total	$	9,083

Deferred:
Federal	$	(10,552	)
State		1,572
Foreign		16,995
Total	$	8,015
Income tax expense, net	$	17,098

	For the year ended May 31,
	2025			2024
Current:
United States	$	1,974		$	497
Canada		177			10,819
Other countries		2,343			940
	$	4,494		$	12,256

Deferred:
United States	$	(10,015	)	$	(723	)
Canada		(7,435	)		(33,422	)
Other countries		(108,061	)		(4,727	)
	$	(125,511	)	$	(38,872	)
Income tax benefits, net	$	(121,017	)	$	(26,616	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	*For the year ended May 31,*
	*2026*
	*Amount*			*Percent*
Expected Income Tax Expense at the Federal Statutory Rate of 21%	$	(18,492	)		21.0	%

Domestic
Imputed Interest		6,314			(7.2	)%
Pre-tax book income (loss) from DRE's		6,229			(7.1	)%
Section 162(m)		2,862			(3.3	)%
Return-to-provision and other prior period adjustments⁽²⁾		28,318			(32.2	)%
Changes in valuation allowances		(23,772	)		27.0	%
Other		(1,578	)		1.8	%
State and Local Income Taxes, Net of Federal Income Tax Effect⁽¹⁾		2,875			(3.3	)%
Foreign Tax Effects
Canada
Tax rate differential		1,893			(2.1	)%
Non-taxable portion of investment gains		(3,053	)		3.5	%
Foreign exchange on subsidiaries		(3,005	)		3.4	%
Return-to-provision and other prior period adjustments		(1,593	)		1.8	%
Changes in valuation allowances⁽³⁾		20,187			(22.9	)%
Other		394			(0.4	)%
Germany
Tax rate differential		1,572			(1.8	)%
Return-to-provision adjustments		(2,076	)		2.4	%
Changes in valuation allowances		(103	)		0.1	%
Other		2			(0.0	)%
Portugal
Tax rate differential		(196	)		0.2	%
Other		371			(0.4	)%
Other Foreign Jurisdictions		(51	)		0.1	%
Effective Tax Rate	$	17,098			(92.5	)%

	*For the year ended May 31,*
	*2025*			*2024*
Loss before net income taxes:	$	(2,302,373	)	$	(249,020	)
Income tax recovery at statutory rate of 21%		(483,708	)		(51,325	)
Tax impact of foreign operations		(41,680	)		(5,661	)
Foreign exchange and other		(14,371	)		(15,586	)
Non-deductible expenses		6,292			6,147
Non-deductible (taxable) losses		32			(682	)
Changes in enacted rates		(3,908	)		2,394
Nondeductible Impairment		285,582			—
Change in fair value of warrant liability		(454	)		302
Return to provision and other prior year items		(33,098	)		16,933
State Provision, net of federal benefit		(14,794	)		612
Change in valuation allowance		179,090			20,250
Income tax recovery, net	$	(121,017	)	$	(26,616	)

Schedule of Income Taxes Paid [Table Text Block]

	*For the year ended*
	*May 31, 2026*
United States
Federal	$	397
State
New York		803
Colorado		13
Illinois		14
Massachusetts		12
North Carolina		25
New Jersey		17
Oregon		35
South Carolina		21
Tennessee		29
Other State		53
		1,419
Foreign
Canada
Federal		(529	)
British Columbia		(468	)
Ontario		38
Germany		(225	)
		(1,184	)
Grand Total	$	235

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	*For the year ended May 31,*
	*2026*			*2025*
Deferred assets
Operating loss carryforwards - United States	$	73,188		$	66,048
Operating loss carryforwards - Canada		437,272			408,718
Operating loss carryforwards - Other Countries		16,196			13,388
Capital loss carryforwards		57,869			35,603
Intangible assets		304,067			350,527
Property and equipment		30,793			27,567
Investments and convertible notes receivable		44,361			43,317
Investment tax credits and related pool balance		1,996			2,249
Accruals		12,199			20,932
Stock Compensation		26,596			21,599
Restricted interest carried forward		3,938			—
Other Deferred Items		16,924			21,319
Total Deferred tax assets		1,025,399			1,011,267
Less valuation allowance		(997,361	)		(968,929	)
Net deferred tax assets		28,038			42,338
Deferred tax liabilities
Property and equipment		(28,800	)		(20,419	)
Intangible assets		(8,263	)		(1,418	)
Convertible Debentures Payable		(3	)		(129	)
Other Deferred Items		(3,228	)		(24,120	)
Total deferred tax liabilities		(40,294	)		(46,086	)
Total Deferred Tax Asset/(Liability)	$	(12,256	)	$	(3,748	)

Note 7 - Leases

12 Months Ended

May 31, 2026

Notes to Financial Statements

Leases Disclosure [Text Block]

7.	Leases

The Company has operating leases for facilities, office spaces, production equipment and vehicles.

Leases have varying terms with remaining lease terms of up to approximately 30 years. Certain of our lease arrangements provide us with the option to extend or to terminate the lease early.

The table below presents the lease-related assets and liabilities recorded on the balance sheet.

		*May 31,*		*May 31,*
	*Classification on Balance Sheet*	*2026*		*2025*
Assets
Finance lease, right-of-use assets	Capital assets	$	117,976	$	40,308
Operating lease, right-of-use assets	Operating lease, right-of-use assets		42,318		22,279
Total right-of-use asset		$	160,294	$	62,587
Liabilities
Current:
Current portion of finance lease liabilities	Current portion of lease liabilities	$	5,105	$	1,560
Current portion of operating lease liabilities	Current portion of lease liabilities		8,252		5,381
Non-current:
Finance lease liabilities	Lease liabilities		119,682		44,295
Operating lease liabilities	Lease liabilities		38,473		20,630
Total lease liabilities		$	171,512	$	71,866

For the fiscal year ended May 31, 2026, the Company had $4,980 of operating lease expenses, which included an offset of $nil for sublease income. For the fiscal year ended May 31, 2025, the Company had $3,453 of operating lease expenses, which included an offset of $761 for sublease income.

Included in the total lease liabilities is $985 related to disposal groups classified as held for sale. See Note 6 (Capital Assets).

The following table presents the future undiscounted payments associated with lease liabilities as of May 31, 2026:

	*Operating*			*Finance*
	*leases*			*leases*
2027	$	16,724		$	19,067
2028		15,588			19,067
2029		10,236			18,919
2030		6,671			18,683
Thereafter		13,200			148,357
Total minimum lease payments	$	62,419		$	224,093
Imputed interest		(15,694	)		(99,306	)
Obligations recognized	$	46,725		$	124,787

Note 6 - Capital Assets (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Property, Plant, and Equipment [Table Text Block]

	*May 31,*			*May 31,*
	*2026*			*2025*
Land	$	59,764		$	44,529
Production facility		464,415			407,650
Equipment		283,778			280,585
Leasehold improvement		32,954			20,415
Finance lease, right-of-use assets		117,976			40,308
Construction in progress		10,009			11,241
	$	968,896		$	804,728
Less: accumulated amortization		(288,671	)		(236,295	)
Total	$	680,225		$	568,433

Long-Lived Asset, Held-for-Sale [Table Text Block]

	*May 31,*		*May 31,*
	*2026*		*2025*
Production facilities	$	—	$	5,800
Equipment		979		—
Leasehold improvements		493		—
Operating lease, right-of-use assets		977		—
Total	$	2,449	$	5,800

Note 28 - Financial Risk Management and Financial Instruments - Doubtful Accounts and Credit Losses (Details) - USD ($)
$ in Thousands

12 Months Ended

May 31, 2026

May 31, 2025

May 31, 2024

Allowance for doubtful accounts and credit loss provision

$ 3,702

$ 7,714

$ 6,641

Allowance for doubtful accounts and credit loss provision, movement

^[1]

(546)

(4,012)

1,073

Allowance for doubtful accounts and credit loss provision

$ 3,156

$ 3,702

$ 7,714

[1]	Included in movements for the period is the total movements for foreign exchange, additions to the provisions and utilization of the credit loss provision and allowance for doubtful accounts.

Note 25 - Interest Expense, Net (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Interest Income and Interest Expense Disclosure [Table Text Block]

	*For the year ended May 31,*
	*2026*			*2025*			*2024*
Interest income	$	6,249		$	11,379		$	12,831
Interest expense		(29,912	)		(41,331	)		(49,264	)
Total	$	(23,663	)	$	(29,952	)	$	(36,433	)

Note 18 - Stockholders' Equity (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

EIP Time-based stock option activity
					*Weighted-*
			*Weighted-*		*average*
			*average*		*remaining*
	*Stock*		*exercise*		*contractual*		*Aggregate*
	*Options*		*price*		*term (years)*		*intrinsic value*
Balance, May 31, 2025		278,603	$	145.54		3.0	$	—
Granted		—		—		—		—
Exercised		—		—		—		—
Forfeited		—		—		—		—
Cancelled		—		—		—		—
Balance, May 31, 2026		278,603	$	145.54		2.0	$	—

Original plan time-based stock option activity
					*Weighted-*
			*Weighted-*		*average*
			*average*		*remaining*
	*Stock*		*exercise*		*contractual*		*Aggregate*
	*Options*		*price*		*term (years)*		*intrinsic value*
Balance, May 31, 2025		1,296	$	47.66		2.6	$	—
Exercised		—		—		—		—
Forfeited		—		—		—		—
Cancelled		—		—		—		—
Balance, May 31, 2026		1,296	$	47.66		1.6	$	—

Predecessor Plan [Member]

Notes Tables

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

					*Weighted*		*Weighted*
			*Weighted*		*average*		*average*
			*average*		*grant*		*remaining*		*Aggregate*
	*Number of*		*exercise*		*date fair*		*contractual*		*Intrinsic*
	*options*		*price*		*value*		*term (years)*		*Amount*
Outstanding, beginning of the year		4,523	$	91.20	$	—		2.53	$	—
Exercised during the year		—		—		—		—		—
Granted during the year		—		—		—		—		—
Forfeited during the year		—		—		—		—		—
Expired during the year		—		—		—		—		—
Outstanding, end of the year		4,523	$	91.20	$	—		1.53	$	—
Vested and exercisable, end of the year		4,523	$	91.20	$	—		1.53	$	—

	*May 31, 2026*
					*Weighted*		*Weighted*
			*Weighted*		*average*		*average*
			*average*		*grant*		*remaining*		*Aggregate*
	*Number of*		*exercise*		*date fair*		*contractual*		*Intrinsic*
	*options*		*price*		*value*		*term (years)*		*Amount*
Outstanding, beginning of the year		18,717	$	2,345.31	$	—		5.84	$	—
Exercised during the year		—		—		—		—		—
Converted upon acquisition		—		—		—		—		—
Forfeited during the year		—		—		—		—		—
Expired during the year		—		—		—		—		—
Outstanding, end of the year		18,717	$	2,345.31	$	—		4.81	$	—
Vested and exercisable, end of the year		18,717	$	2,345.31	$	—		4.81	$	—

E I P Original Plan [Member]

Notes Tables

Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

Time-based and Performance-based RSU activity
				*Weighted-*		*Weighted-*
				*average*		*average*
				*grant-date*		*remaining*
	*Time-based*			*fair value*		*contractual*		*Aggregate*
	*RSUs*			*per share*		*term (years)*		*intrinsic value*
Balance, May 31, 2025		2,770,571		$	26.05		2.9	$	11,794
Granted		4,562,669			5.94		—		28,214
Vested		(1,249,757	)		20.84		—		(6,886	)
Forfeited		(192,922	)		10.73		—		(1,133	)
Cancelled		(82,241	)		115.15		—		(55	)
Balance, May 31, 2026		5,808,320		$	10.62		0.9	$	31,934

	*May 31, 2026*
			*Weighted*
			*average*
			*grant -*
			*date fair*
	*Time-based*		*value per*
	*DSUs*		*share*
Non-vested, beginning of the year		21,092	$	160.32
Granted during the year		—		—
Vested during the year		—		—
Forfeited during the year		—		—
Non-vested, end of the year		21,092	$	160.32

Note 28 - Financial Risk Management and Financial Instruments - Reconciliation of Level 3 Assets and Liabilities (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025
Warrant Liability [Member]
Balance	$ (1,092)	$ (3,253)
Unrealized gain (loss) on fair value	(3,495)	2,161
Instruments exercised	4,587
Balance	0	(1,092)
Additions/(Repayments)		0
Impairments		0
Contingent Consideration [Member]
Balance	(15,000)	(15,000)
Unrealized gain (loss) on fair value	15,000	0
Instruments exercised	0
Balance	0	(15,000)
Additions/(Repayments)		0
Impairments		0
Equity Investments [Member]
Balance	8,160	5,500
Unrealized gain (loss) on fair value		(5,500)
Balance		8,160
Additions/(Repayments)		8,160
Impairments		0
Long-Term Debt [Member] \| APHA 24 [Member]
Balance	0	(330)
Unrealized gain (loss) on fair value		0
Balance		0
Additions/(Repayments)		330
Impairments		0
Equity Investments [Member]
Balance	8,160
Unrealized gain (loss) on fair value	(3,796)
Instruments exercised	0
Balance	4,364	8,160
Notes Receivable [Member]
Balance	$ 0	32,000
Unrealized gain (loss) on fair value		0
Balance		0
Additions/(Repayments)		(12,000)
Impairments		$ (20,000)

Note 16 - Convertible Debentures Payable - Net Carrying Amount of Convertible Debentures (Details) - USD ($) $ in Thousands	May 31, 2026	Dec. 31, 2025	May 31, 2025	May 30, 2023
Deduct - current portion	$ 0		$ 0
Total convertible debentures payable, non current portion	79,529	$ 86,428	86,428
TLRY 27 [Member]
Carrying amount of long-term debt	79,529		86,428
Face amount	172,500		172,500	$ 172,500
Debt settlement	(84,500)		(67,500)
Unamortized discount	(8,471)		(18,572)
Convertible debentures	$ 79,529		$ 86,428

Note 22 - Cost of Goods Sold (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Schedule of Cost of Goods Sold [Table Text Block]

	*For the year ended May 31,*
	*2026*		*2025*		*2024*
Beverage costs	$	162,743	$	147,591	$	113,522
Cannabis costs		161,256		150,005		182,594
Distribution costs		286,589		241,896		230,596
Wellness costs		44,425		41,247		38,879
Total	$	655,013	$	580,739	$	565,591

Note 15 - Long-term Debt (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Schedule of Long-Term Debt Instruments [Table Text Block]

	*May 31,*			*May 31,*
	*2026*			*2025*
Mortgage payable - C$53,000 - Canadian prime plus an applicable margin, 3-year term, with a 10-year amortization, repayable in equal quarterly payments due in February 2028	$	34,310		$	38,690
Mortgage payable - C$25,000 - Canadian prime plus 1.00%, compounded monthly, 5-year term, with a 15-year amortization, repayable in equal monthly installments of C$181 including interest, due in July 2033		8,420			11,501
Mortgage payable - C$25,000 - Canadian prime plus 1.00%, compounded monthly, 5-year term, with a 15-year amortization, repayable in equal monthly installments of C$196 including interest, due in July 2033		10,356			9,354
Term loan - C$1,250 - Canadian prime plus 1.50%, 5-year term, with a 10-year amortization, repayable in equal monthly installments of C$12 including interest, due in August 2026		23			157
Mortgage payable - C$3,750 - Canadian prime plus 1.50%, 5-year term, with a 20-year amortization, repayable in equal monthly installments of C$23 including interest, due in August 2026		1,890			2,020
Term loan ‐ €3,500 ‐ at 4.59%, 5‐year term, repayable in monthly installments of €52 plus interest, due in August 2028		1,822			2,546
Mortgage payable - $22,635 - EURIBOR rate plus 1.5%, 10-year term, repayable in monthly installments of $57 to $69, due in October 2030		18,669			19,418
Term loan - $90,000 - SOFR plus an applicable margin, 5-year term, repayable in quarterly installments of $875 to $2,250 due in June 2028		63,688			80,438
Carrying amount of long-term debt		139,178			164,124
Unamortized financing fees		(593	)		(864	)
Net carrying amount		138,585			163,260
Less principal portion included in current liabilities		(18,160	)		(14,767	)
Total noncurrent portion of long-term debt	$	120,425		$	148,493

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Note 6 - Capital Assets

12 Months Ended

May 31, 2026

Notes to Financial Statements

Property, Plant, and Equipment [Text Block]

6.	Capital assets

Capital assets consisted of the following:

	*May 31,*			*May 31,*
	*2026*			*2025*
Land	$	59,764		$	44,529
Production facility		464,415			407,650
Equipment		283,778			280,585
Leasehold improvement		32,954			20,415
Finance lease, right-of-use assets		117,976			40,308
Construction in progress		10,009			11,241
	$	968,896		$	804,728
Less: accumulated amortization		(288,671	)		(236,295	)
Total	$	680,225		$	568,433

The Company performs ongoing impairment assessments whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. During the fiscal years ended May 31, 2026 and May 31, 2025, after completing an assessment for indicators of impairment, it was determined that the asset groups were recoverable and as a result there were $nil impairments during the respective fiscal years.

Assets held for sale consisted of the following:

	*May 31,*		*May 31,*
	*2026*		*2025*
Production facilities	$	—	$	5,800
Equipment		979		—
Leasehold improvements		493		—
Operating lease, right-of-use assets		977		—
Total	$	2,449	$	5,800

As of May 31, 2025, the Company classified $5,800 of the Fort Collins, CO partially vacant warehouse facility from its Cannabis reporting segment as assets held for sale. During the fiscal year ended May 31, 2026, the Company completed the sale of the Fort Collins asset group. The loss on the disposition of the Fort Collins asset group was recorded in the consolidated statement of net loss and comprehensive loss.

Additionally, during the fiscal year ended May 31, 2026, the Company classified the assets of Atwater Brewing, with a carrying value of $2,449 from its Beverage reporting unit, as assets held for sale. These assets were acquired on September 1, 2024 as part of the transaction referred to as “Craft Acquisition II.” Following management’s assessment of facility utilizations, it was determined that such assets would be held for sale. Assets held for sale are measured at the lower of carrying amount and the fair value less costs to sell and are no longer depreciated. Changes in the carrying amount are recorded in the consolidated statement of net loss and comprehensive loss.

- Definition

The entire disclosure for property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

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+ Details

Note 12 - Income Taxes and Deferred Income Taxes - The Components of Income Tax Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
Federal, current	$ 164	$ 1,974	$ 497
State, current	1,302
Foreign, current	7,617
Total, current	9,083	4,494	12,256
Federal, deferred	(10,552)	(10,015)	(723)
State, deferred	1,572
Foreign, deferred	16,995
Total, deferred	8,015	(125,511)	(38,872)
Income tax expense, net	$ 17,098	(121,017)	(26,616)
CANADA
Foreign, current		177	10,819
Foreign, deferred		(7,435)	(33,422)
Others Countries [Member]
Foreign, current		2,343	940
Foreign, deferred		$ (108,061)	$ (4,727)

Note 28 - Financial Risk Management and Financial Instruments - Schedule of Aging Accounts Receivable (Details) $ in Thousands	May 31, 2026 USD ($)
Accounts receivable, net	$ 189,170
Accounts Receivable, Gross, Noncurrent, Percentage of Total Aging Receivables	100.00%
Accounts Receivable, 0 to 30 Days Past Due [Member]
Accounts receivable, net	$ 128,759
Accounts Receivable, Gross, Noncurrent, Percentage of Total Aging Receivables	68.00%
Accounts Receivable, 31 to 60 Days Past Due [Member]
Accounts receivable, net	$ 23,833
Accounts Receivable, Gross, Noncurrent, Percentage of Total Aging Receivables	13.00%
Accounts Receivable, 61 to 90 Days Past Due [Member]
Accounts receivable, net	$ 27,480
Accounts Receivable, Gross, Noncurrent, Percentage of Total Aging Receivables	15.00%
Accounts Receivable, Greater Than 90 Days Past Due [Member]
Accounts receivable, net	$ 9,098
Accounts Receivable, Gross, Noncurrent, Percentage of Total Aging Receivables	5.00%

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	May 31, 2026	Jul. 24, 2026	Nov. 28, 2025
Document Information [Line Items]
Entity Central Index Key	0001731348
Entity Registrant Name	Tilray Brands, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--05-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2026
Document Type	10-K
Document Annual Report	true
Document Period End Date	May 31, 2026
Document Transition Report	false
Entity File Number	001-38594
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-4310622
Entity Address, Address Line One	265 Talbot Street West
Entity Address, City or Town	Leamington
Entity Address, State or Province	ON
Entity Address, Postal Zip Code	N8H 5L4
City Area Code	844
Local Phone Number	845-7291
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	TLRY
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 900,000,000
Entity Common Stock, Shares Outstanding		136,203,579
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Toronto, Canada
Auditor Firm ID	2017

Note 15 - Long-term Debt - Net Carrying Amount of Long-term Debt Instruments (Details) (Parentheticals) € in Thousands, $ in Thousands, $ in Thousands	12 Months Ended
	May 31, 2026 USD ($)	May 31, 2026 EUR (€)	May 31, 2026 CAD ($)	May 31, 2025 USD ($)	May 31, 2025 EUR (€)	May 31, 2025 CAD ($)	May 31, 2026 EUR (€)	May 31, 2026 CAD ($)	May 31, 2025 EUR (€)	May 31, 2025 CAD ($)
Mortgage Payable Due in February 2028 [Member]
Face amount	$ 53,000			$ 53,000
Term (Year)	3 years	3 years	3 years	3 years	3 years	3 years
Amortization period (Year)	10 years	10 years	10 years	10 years	10 years	10 years
Maturity	Feb. 29, 2028	Feb. 29, 2028	Feb. 29, 2028	Feb. 29, 2028	Feb. 29, 2028	Feb. 29, 2028
Mortgage Payable Due in July 2033 One [Member]
Face amount	$ 25,000			$ 25,000
Term (Year)	5 years	5 years	5 years	5 years	5 years	5 years
Amortization period (Year)	15 years	15 years	15 years	15 years	15 years	15 years
Maturity	Jul. 31, 2033	Jul. 31, 2033	Jul. 31, 2033	Jul. 31, 2033	Jul. 31, 2033	Jul. 31, 2033
Periodic payment	$ 181			$ 181
Mortgage Payable Due in July 2033 One [Member] \| Prime Rate [Member]
Variable rate	1.00%	1.00%	1.00%	1.00%	1.00%	1.00%
Mortgage Payable Due in July 2033 Two [Member]
Face amount	$ 25,000			$ 25,000
Term (Year)	5 years	5 years	5 years	5 years	5 years	5 years
Amortization period (Year)	15 years	15 years	15 years	15 years	15 years	15 years
Maturity	Jul. 31, 2033	Jul. 31, 2033	Jul. 31, 2033	Jul. 31, 2033	Jul. 31, 2033	Jul. 31, 2033
Periodic payment	$ 196			$ 196
Mortgage Payable Due in July 2033 Two [Member] \| Prime Rate [Member]
Variable rate	1.00%	1.00%	1.00%	1.00%	1.00%	1.00%
Term Loan Due in August 2026 [Member]
Face amount								$ 1,250		$ 1,250
Term (Year)	5 years	5 years	5 years	5 years	5 years	5 years
Amortization period (Year)	10 years	10 years	10 years	10 years	10 years	10 years
Maturity	Aug. 31, 2026	Aug. 31, 2026	Aug. 31, 2026	Aug. 31, 2026	Aug. 31, 2026	Aug. 31, 2026
Periodic payment			$ 12			$ 12
Term Loan Due in August 2026 [Member] \| Prime Rate [Member]
Variable rate	1.50%	1.50%	1.50%	1.50%	1.50%	1.50%
Mortgage Payable Due in August 2026 [Member]
Face amount								$ 3,750		$ 3,750
Term (Year)	5 years	5 years	5 years	5 years	5 years	5 years
Amortization period (Year)	20 years	20 years	20 years	20 years	20 years	20 years
Maturity	Aug. 31, 2026	Aug. 31, 2026	Aug. 31, 2026	Aug. 31, 2026	Aug. 31, 2026	Aug. 31, 2026
Periodic payment			$ 23			$ 23
Mortgage Payable Due in August 2026 [Member] \| Prime Rate [Member]
Variable rate	1.50%	1.50%	1.50%	1.50%	1.50%	1.50%
Term Loan Due in August 2028 [Member]
Face amount \| €							€ 3,500		€ 3,500
Term (Year)	5 years	5 years	5 years	5 years	5 years	5 years
Maturity	Aug. 31, 2028	Aug. 31, 2028	Aug. 31, 2028	Aug. 31, 2028	Aug. 31, 2028	Aug. 31, 2028
Periodic payment \| €		€ 52			€ 52
Rate	4.59%			4.59%			4.59%	4.59%	4.59%	4.59%
Mortgage Payable Due in October 2030 [Member]
Face amount	$ 22,635			$ 22,635
Term (Year)	10 years	10 years	10 years	10 years	10 years	10 years
Maturity	Oct. 31, 2030	Oct. 31, 2030	Oct. 31, 2030	Oct. 31, 2030	Oct. 31, 2030	Oct. 31, 2030
Mortgage Payable Due in October 2030 [Member] \| Minimum [Member]
Periodic payment	$ 57			$ 57
Mortgage Payable Due in October 2030 [Member] \| Maximum [Member]
Periodic payment	$ 69			$ 69
Mortgage Payable Due in October 2030 [Member] \| Euro Interbank Offered Rate [Member]
Variable rate	1.50%	1.50%	1.50%	1.50%	1.50%	1.50%
Term Loan Due in June 2028 [Member]
Face amount	$ 90,000			$ 90,000
Term (Year)	5 years	5 years	5 years	5 years	5 years	5 years
Maturity	Jun. 30, 2028	Jun. 30, 2028	Jun. 30, 2028	Jun. 30, 2028	Jun. 30, 2028	Jun. 30, 2028
Term Loan Due in June 2028 [Member] \| Minimum [Member]
Periodic payment	$ 875			$ 875
Term Loan Due in June 2028 [Member] \| Maximum [Member]
Periodic payment	$ 2,250			$ 2,250

Note 11 - Long-term Investments (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Debt Securities, Trading, and Equity Securities, FV-NI [Table Text Block]

	*May 31,*		*May 31,*
	*2026*		*2025*
Equity investments measured at fair value	$	2,187	$	1,972
Equity investments under measurement alternative		4,364		8,160
Total	$	6,551	$	10,132

Note 9 - Business Acquisitions

12 Months Ended

May 31, 2026

Notes to Financial Statements

Business Combination [Text Block]

9.	Business Acquisitions

Acquisition of Craft Beverage Business Portfolio II

Effective September 1, 2024, the Company acquired four craft beer brands and breweries from Molson Coors Beverage Company (“Molson”) including Atwater Brewery, Hop Valley Brewing Company, Terrapin Beer Co., and Revolver Brewing (the “Craft Acquisition II”). The purpose of the acquisition was to continue broadening Tilray’s beverage brand strategy. In consideration for the acquisition, the Company paid a total purchase price of $22,979 in cash, which was subject to certain customary post-closing working capital adjustments.

The table below summarizes the fair value of the assets acquired and the liabilities assumed for the Craft Acquisition II at the effective acquisition date as follows:

	*Amount*
Consideration
Cash consideration	$	22,979
Net assets acquired
Current assets
Cash and cash equivalents		4,869
Accounts receivable		1,993
Inventory		6,844
Prepaids and other current assets		185
Long-term assets
Capital assets		20,916
Finance lease, right-of-use assets		1,869
Operating lease, right-of-use assets		1,884
Total assets		38,560
Current liabilities
Accounts payable and accrued liabilities		11,828
Current portion of finance lease liabilities		354
Current portion of operating lease liabilities		564
Long - term liabilities
Finance lease liabilities		1,515
Operating lease liabilities		1,320
Total liabilities		15,581
Total net assets acquired		22,979

In the event that the Craft Acquisition II had occurred on June 1, 2024, the Company would have had, on an unaudited proforma basis, additional net revenue of approximately $nil for the fiscal year ended May 31, 2026 and approximately $13,700 for the fiscal year ended May 31, 2025, and its net loss and comprehensive net loss would have increased by approximately $nil for the fiscal year ended May 31, 2026, and $5,500 for the fiscal year ended May 31, 2025. This unaudited pro forma financial information does not reflect the realization of any expected ongoing synergies relating to the integration of the Craft Acquisition II.

Acquisition of BrewDog

BrewDog UK I

On March 2, 2026, Tilray Brands UK Ltd (“Tilray UK”), a wholly owned subsidiary of the Company, entered into a Business and Asset Sale Agreement (the “BrewDog BASA”). Under the BrewDog BASA, Tilray UK acquired certain business operations and assets of BrewDog plc and certain of its subsidiary undertakings (collectively, the “BrewDog Group”) through a pre-packaged administration process in Scotland under the Insolvency Act 1986, with the intent for Tilray UK to carry on the acquired business operations and assets as a going concern. The assets acquired included the brewery and distillery located in Ellon, Aberdeenshire, Scotland (the “UK Brewery”), the on-line business, the retail business, 11 of the BrewDog strategic pubs in Scotland, England and Ireland and all the world-wide intellectual property rights relating to the BrewDog brand, including sub-brands such as Punk IPA, Hazy Jane, Wingman, Elvis Juice and Dead Pony Club. The purpose of the acquisition is to broaden Tilray’s beverage brand strategy into international markets. In consideration for the acquisition, the Company paid a total cash purchase price of £33,000 ($44,220).

BrewDog Australia

On March 9, 2026, the Company acquired BrewDog Brewing Australia Pty Ltd., which included BrewDog’s Australian brewery, along with two hospitality venues in Australia. The purpose of the acquisition is to continue broadening Tilray’s beverage brand strategy into international markets. In consideration for the acquisition, the Company paid nominal consideration.

BrewDog UK II

On March 23, 2026, the Company acquired 5 additional BrewDog pubs in Scotland and England. The purpose of the acquisition is to broaden Tilray’s beverage brand strategy into international markets. In consideration for the acquisition, the Company paid a total purchase price of £418 ($560).

BrewDog U.S.

On March 16, 2026, Tilray BrewDog U.S., Inc., a wholly-owned subsidiary of the Company, entered into an asset purchase agreement to acquire certain strategic BrewDog assets in the U.S., including a brewery, pub, and hotel in Columbus, Ohio, as well as pubs located in New Albany, Ohio, Cleveland, Ohio, and Las Vegas, Nevada. The Company obtained control of the acquired assets and assumed liabilities on April 1, 2026, which represents the acquisition date for accounting purposes under ASC 805, notwithstanding certain regulatory approvals that remained pending as of that date. The purpose of the acquisition is to broaden Tilray’s beverage brand strategy. In consideration for the acquisition, the Company paid a total purchase price of $9,293 for BrewDog’s U.S. assets, subject to customary post‑closing adjustments.

The Company is in the process of assessing the fair value of the net assets acquired and, as a result, the fair value may be subject to adjustments pending completion of final valuations and post-closing adjustments. The table below summarizes the preliminary estimated fair value of the assets acquired and the liabilities assumed for the BrewDog acquisitions at the effective acquisition dates as follows:

	*BrewDog UK I*		*BrewDog AUS*		*BrewDog UK II*		*BrewDog US*		*Total*
	*March 2,*		*March 9,*		*March 23,*		*April 1,*
	*2026*		*2026*		*2026*		*2026*
Consideration
Cash consideration	$	44,220	$	—	$	560	$	9,293	$	54,073
Net assets acquired
Current assets
Cash and cash equivalents		159		392		—		19		570
Accounts receivable		336		797		—		—		1,133
Inventory		16,173		604		—		2,098		18,875
Prepaids and other current assets		159		322		—		—		481
Long-term assets
Capital assets		60,664		2,769		1,738		7,176		72,347
Finance lease, right-of-use assets		44,640		17,318		—		17,881		79,839
Operating lease, right-of-use assets		16,713		—		5,213		3,697		25,623
Intangible assets		10,762		—		—		—		10,762
Total assets		149,606		22,202		6,951		30,871		209,630
Current liabilities
Accounts payable and accrued liabilities		44,033		4,885		1,177		—		50,095
Current portion of finance lease liabilities		2,827		72		—		466		3,365
Current portion of operating lease liabilities		2,088		—		459		299		2,846
Long - term liabilities
Finance lease liabilities		41,813		17,245		—		17,415		76,473
Operating lease liabilities		14,625		—		4,755		3,398		22,778
Total liabilities		105,386		22,202		6,391		21,578		155,557
Total net assets acquired	$	44,220	$	—	$	560	$	9,293	$	54,073

In the event that the BrewDog acquisition had occurred on June 1, 2025, the Company would have had, on an unaudited proforma basis for the asset groups purchased, additional net revenue of approximately $190,198 and its net loss and comprehensive net loss would have increased by approximately $41,428 for the fiscal year ended May 31, 2026. In the event that the BrewDog acquisition had occurred on June 1, 2024, the Company would have had, on an unaudited proforma basis for the asset groups purchased, additional net revenue of approximately $276,533 and its net loss and comprehensive net loss would have increased by approximately $32,288 for the fiscal year ended May 31, 2025. This unaudited pro forma financial information does not reflect the realization of any expected ongoing synergies relating to the integration of the BrewDog acquisition.

Acquisition of Lyphe

On April 15, 2026, the Company issued 398,666 shares of the Company’s Common Stock, as partial consideration pursuant to the share purchase agreement for the acquisition of the Lyphe Group. The purpose of the acquisition was driven by a strategic rationale tied to growth, vertical integration, and expansion in Europe, especially the UK medical cannabis market. In consideration for the acquisition, the Company paid a total purchase price of $3,074 (£2,200) which consisted of stock consideration of $2,795 and $279 of cash consideration.

The Company is in the process of assessing the fair value of the net assets acquired and, as a result, the fair value may be subject to adjustments pending completion of final valuations and post-closing adjustments. The table below summarizes the preliminary estimated fair value of the assets acquired and the liabilities assumed for the Lyphe acquisition at the effective acquisition date as follows:

	*Amount*
Consideration
Shares	$	2,795
Cash consideration		279
Net assets acquired
Current assets
Cash and cash equivalents		83
Accounts receivable		125
Inventory		146
Prepaids and other current assets		118
Long-term assets
Capital assets		34
Intangible assets		4,328
Total assets		4,834
Current liabilities
Accounts payable and accrued liabilities		1,760
Total liabilities		1,760
Total net assets acquired	$	3,074

In the event that the Lyphe acquisition had occurred on June 1, 2025, the Company would have had, on an unaudited proforma basis, additional net revenue of approximately $3,041 for the fiscal year ended May 31, 2026 and its net loss and comprehensive net loss would have increased by approximately $1,573 for the fiscal year ended May 31, 2026. In the event that the Lyphe acquisition had occurred on June 1, 2024, the Company would have had, on an unaudited proforma basis, additional net revenue of approximately $4,041 for the fiscal year ended May 31, 2025 and its net loss and comprehensive net loss would have increased by approximately $723 for the fiscal year ended May 31, 2025. This unaudited pro forma financial information does not reflect the realization of any expected ongoing synergies relating to the integration of the Lyphe acquisition.

- Definition

The entire disclosure for business combination.

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+ Details

Note 9 - Business Acquisitions (Details Textual) € in Thousands									12 Months Ended		13 Months Ended
	Apr. 15, 2026 USD ($) shares	Apr. 15, 2026 EUR (€) shares	Apr. 01, 2026 USD ($)	Mar. 23, 2026 USD ($)	Mar. 23, 2026 EUR (€)	Mar. 02, 2026 USD ($)	Mar. 02, 2026 EUR (€)	Sep. 01, 2024 USD ($)	May 31, 2026 USD ($) shares	May 31, 2025 USD ($)	May 31, 2025 USD ($)	Mar. 09, 2026
Payments to Acquire Businesses, Gross								$ 22,979
Business Combination, Pro Forma Information, Pro Forma Income (Loss), after Tax											$ (5,500,000)
Craft Beverage Business Acquisition II [Member]
Number of Brands Acquired								4
Business Combination, Pro Forma Information, Pro Forma Revenue									$ 0	$ 13,700,000
Business Combination, Pro Forma Information, Pro Forma Income (Loss), after Tax									(0)
Business Combination, Consideration Transferred								$ 22,979,000
BrewDog PLC [Member]
Business Combination, Pro Forma Information, Pro Forma Revenue									190,198,000	276,533,000
Business Combination, Pro Forma Information, Pro Forma Income (Loss), after Tax									41,428,000	32,288,000
Business Combination, Consideration Transferred									54,073,000
BrewDog PLC [Member] \| UNITED KINGDOM
Payments to Acquire Businesses, Gross				$ 560,000	€ 418	$ 44,220,000	€ 33,000
Number of Strategic Pubs Acquired				5	5	11	11
BrewDog PLC [Member] \| AUSTRALIA
Number of Hospitality Venues												2
BrewDog PLC [Member] \| UNITED STATES
Payments to Acquire Businesses, Gross			$ 9,293,000
Lyphe Group [Member]
Payments to Acquire Businesses, Gross	$ 279,000
Business Combination, Pro Forma Information, Pro Forma Revenue									3,041,000	4,041,000
Business Combination, Pro Forma Information, Pro Forma Income (Loss), after Tax									$ (1,573,000)	$ (723,000)
Stock Issued During Period, Shares, Acquisitions (in shares) \| shares	398,666	398,666							398,666
Business Combination, Consideration Transferred	$ 2,200,000	€ 3,074
Business Combination, Consideration Transferred, Equity Interest	$ 2,795,000

Note 29 - Segment Reporting - Geographic Capital Assets (Details) - USD ($) $ in Thousands	May 31, 2026	May 31, 2025
Capital assets	$ 680,225	$ 568,433
UNITED STATES
Capital assets	207,592	200,003
CANADA
Capital assets	245,799	267,458
EMEA [Member]
Capital assets	202,598	97,371
Rest of World [Member]
Capital assets	$ 24,236	$ 3,601

- Definition

Amount, after accumulated depreciation, depletion, and amortization, of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 360
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478443/942-360-45-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 360
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478451/942-360-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-7A

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

+ Details

Note 14 - Accounts Payable and Accrued Liabilities (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]

	*May 31,*		*May 31,*
	*2026*		*2025*
Trade payables	$	114,538	$	107,348
Accrued liabilities		135,906		103,260
Litigation accrual		11,931		12,431
Accrued payroll and employment related taxes		20,013		1,436
Income taxes payable		12,667		58
Accrued interest		3,258		4,193
Sales taxes payable		19,775		6,596
Total	$	318,088	$	235,322

Note 13 - Bank Indebtedness

12 Months Ended

May 31, 2026

Notes to Financial Statements

Short-Term Debt [Text Block]

13.

Bank indebtedness

Aphria Inc., a subsidiary of the Company, has an operating line of credit in the amount of C$1,000, which bears interest at the lender’s prime rate plus 75 basis points. As of May 31, 2026, the Company has not drawn on the line of credit. The operating line of credit is secured by a security interest on certain real property located at 265 Talbot St. West, Leamington, Ontario.

CC Pharma GmbH, a subsidiary of the Company, has two operating lines of credit for €7,000 and €500 each, which bear interest at Euro Short-Term Rate (“ESTR”) plus 2.50% and Euro Interbank Offered Rate (“EURIBOR”) plus 4.00%, respectively. As of May 31, 2026, a total of €7,500 ($8,775) was drawn down from the available credit of €7,500. The operating line of credit for €7,000 is secured by an interest in the inventory of CC Pharma GmbH as well as the Densborn facility and underlying real property. The operating line of credit for €500 is unsecured.

On July 25, 2025, the Company’s wholly-owned subsidiary, American Beverage Crafts Group Inc. (“ABC Group”), formerly known as Four Twenty Corporation, finalized its fifth amendment (the “Amendment”) to that certain Credit Agreement dated as of June 30, 2023 (the “ABC Group Credit Agreement”) by and among the Borrower, Bank of America, N.A., in its capacity as Administrative Agent, and certain other guarantors and lenders party thereto. Specifically, the Amendment amended and restated the ABC Group Credit Agreement to provide for the contribution of the Manitoba Harvest entities’ equity to the Borrower as additional collateral. Additionally, the Amendment added financial covenants for (i) minimum consolidated trailing-twelve-months EBITDA for each of the four quarters, beginning May 31, 2025 and (ii) minimum liquidity. ABC Group has a revolving credit facility of $25,000, which bears interest at SOFR plus an applicable margin. As of May 31, 2026, the Company has drawn $nil on the revolving line of credit under the ABC Group Credit Agreement. See Note 30 (Subsequent events) for disclosure of the sixth amendment to the Credit Agreement.

Note 3 - Significant Accounting Policies (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Property, Plant and Equipment, Useful Life [Table Text Block]

Asset type	Depreciation method	Depreciation term (estimated useful life)
Production facility	Straight-line	20 – 30 years
Equipment	Straight-line	3 – 25 years
Leasehold improvements	Straight-line	Lesser of estimated useful life or lease term
Finance lease right-of-use assets	Straight-line	Lesser of the lease term and the useful life of the leased asset

Intangible Assets, Amortization Term [Table Text Block]

Asset type	Amortization term
Customer relationships & distribution channel	14 – 16 years
Licences, permits & applications	12 months – indefinite
Intellectual property, trademarks & brands	15 months – 25 years
Non-compete agreements	Over term of non-compete
Know how	5 years

Note 20 - Non-controlling Interests - Summary of Income Statement Information (Details) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
Net loss	$ (105,158)	$ (2,181,356)	$ (222,404)
Net comprehensive (loss) income	(104,951)	(2,180,926)	(219,283)
Comprehensive (loss) income attributable to NCI	17,616	5,376	22,587
Additional income attributable to NCI	0
Subsidiaries [Member]
Revenue		78,414	103,331
Total expenses		74,575	82,349
Net loss		3,839	20,982
Other comprehensive (loss) income		(49)	(172)
Net comprehensive (loss) income		3,790	20,810
Comprehensive (loss) income attributable to NCI		5,376	17,251
Additional income attributable to NCI		0	5,336
Net comprehensive (loss) income attributable to NCI		5,376	22,587
Superhero Acquisition LP [Member]
Revenue	29	0	0
Total expenses	39	20,000	42,681
Net loss	(10)	(20,000)	(42,681)
Other comprehensive (loss) income	0	0	0
Net comprehensive (loss) income	$ (10)	$ (20,000)	$ (42,681)
Non-controlling interest %	25.00%	32.00%	32.00%
Comprehensive (loss) income attributable to NCI	$ (3)	$ (6,400)	$ (13,658)
Additional income attributable to NCI		0	0
Net comprehensive (loss) income attributable to NCI	(3)	(6,400)	(13,658)
CC Pharma Nordic ApS [Member]
Revenue	81,477	0	0
Total expenses	48,459	11	(1,064)
Net loss	33,018	(11)	1,064
Other comprehensive (loss) income	2,899	8	(9)
Net comprehensive (loss) income	$ 35,917	$ (3)	$ 1,055
Non-controlling interest %	49.00%	25.00%	25.00%
Comprehensive (loss) income attributable to NCI	$ 17,599	$ (1)	$ 264
Additional income attributable to NCI		0	0
Net comprehensive (loss) income attributable to NCI	17,599	(1)	264
Aphria Diamond [Member]
Revenue	0	78,414	103,331
Total expenses	(622)	54,274	40,935
Net loss	622	24,140	62,396
Other comprehensive (loss) income	(425)	(45)	171
Net comprehensive (loss) income	$ 197	$ 24,095	$ 62,567
Non-controlling interest %	10.00%	49.00%	49.00%
Comprehensive (loss) income attributable to NCI	$ 20	$ 11,807	$ 30,658
Additional income attributable to NCI		0	5,336
Net comprehensive (loss) income attributable to NCI	20	11,807	35,994
ColCanna S.A.S. [Member]
Revenue	81,506	0	0
Total expenses	47,876	290	(203)
Net loss	33,630	(290)	203
Other comprehensive (loss) income	2,474	(12)	(334)
Net comprehensive (loss) income	36,104	$ (302)	$ (131)
Non-controlling interest %		10.00%	10.00%
Comprehensive (loss) income attributable to NCI	17,616	$ (30)	$ (13)
Additional income attributable to NCI		0	0
Net comprehensive (loss) income attributable to NCI	$ 17,616	$ (30)	$ (13)

Note 20 - Non-controlling Interests (Details Textual) - $ / shares	May 31, 2026	Jan. 16, 2025	Jan. 07, 2025	Nov. 28, 2022
Enroot [Member]
Subsidiary, Ownership Percentage, Parent	75.00%
Aphria Diamond [Member]
Subsidiary, Ownership Percentage, Parent	51.00%			51.00%
ColCanna S.A.S. [Member]
Subsidiary, Ownership Percentage, Parent	90.00%		75.00%
Superhero Acquisition LP [Member]
Equity Investment, Strike Price (in dollars per share)	$ 1
Superhero Acquisition LP [Member] \| Upon U.S. Federal Cannabis Legalization [Member]
Subsidiary, Ownership Percentage, Parent	68.00%	68.00%
Equity Investment, Strike Price (in dollars per share)	$ 1	$ 1

Note 7 - Leases (Tables)

12 Months Ended

May 31, 2026

Notes Tables

		*May 31,*		*May 31,*
	*Classification on Balance Sheet*	*2026*		*2025*
Assets
Finance lease, right-of-use assets	Capital assets	$	117,976	$	40,308
Operating lease, right-of-use assets	Operating lease, right-of-use assets		42,318		22,279
Total right-of-use asset		$	160,294	$	62,587
Liabilities
Current:
Current portion of finance lease liabilities	Current portion of lease liabilities	$	5,105	$	1,560
Current portion of operating lease liabilities	Current portion of lease liabilities		8,252		5,381
Non-current:
Finance lease liabilities	Lease liabilities		119,682		44,295
Operating lease liabilities	Lease liabilities		38,473		20,630
Total lease liabilities		$	171,512	$	71,866

Lessee, Operating and Finance Lease, Liabilities, to be Paid, Maturity [Table Text Block]

	*Operating*			*Finance*
	*leases*			*leases*
2027	$	16,724		$	19,067
2028		15,588			19,067
2029		10,236			18,919
2030		6,671			18,683
Thereafter		13,200			148,357
Total minimum lease payments	$	62,419		$	224,093
Imputed interest		(15,694	)		(99,306	)
Obligations recognized	$	46,725		$	124,787

Note 24 - Restructuring (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
Restructuring Costs	$ 13,113	$ 34,283	$ 15,581
Cannabis Segment [Member] \| Facility Closing [Member]
Restructuring Costs	6,258
Cannabis Segment [Member] \| Facility Closing [Member] \| Fort Collins Facility [Member]
Restructuring Costs	371
Cannabis Segment [Member] \| Change of Operations [Member] \| QUEBEC
Restructuring Costs	4,573
Cannabis Segment [Member] \| Employee Severance [Member]
Restructuring Costs	1,093
Cannabis Segment [Member] \| Other Restructuring [Member]
Restructuring Costs	221
Beverage Segment [Member] \| Closure Of Hop Valley [Member]
Restructuring Costs	$ 6,771	$ 8,500

Note 12 - Income Taxes and Deferred Income Taxes - Reconciliation of Effective Income Tax Rate (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 22, 2017	May 31, 2026	May 31, 2025	May 31, 2024
Expected Income Tax Expense at the Federal Statutory Rate of 21%		$ (18,492)	$ (483,708)	$ (51,325)
Expected Income Tax Expense at the Federal Statutory Rate of 21%, percent	35.00%	21.00%
Imputed Interest		$ 6,314
Imputed Interest, percent		(7.20%)
Pre-tax book income (loss) from DRE's		$ 6,229
Pre-tax book income (loss) from DRE's, percent		(7.10%)
Section 162(m)		$ 2,862
Section 162(m), percent		(3.30%)
Return-to-provision and other prior period adjustments(2)		$ 28,318	(33,098)	16,933
Return-to-provision and other prior period adjustments, percent		(32.20%)
Changes in valuation allowances		$ (23,772)	179,090	20,250
Changes in valuation allowances, percent		27.00%
Other		$ (1,578)
Other, percent		1.80%
State and Local Income Taxes, Net of Federal Income Tax Effect(1)		$ 2,875	(14,794)	612
State and Local Income Taxes, Net of Federal Income Tax Effect, percent		(3.30%)
Tax rate differential			(41,680)	(5,661)
Income tax expense, net		$ 17,098	(121,017)	(26,616)
Effective Tax Rate, percent		(92.50%)
Loss before net income taxes:		$ (88,060)	(2,302,373)	(249,020)
Foreign exchange and other			(14,371)	(15,586)
Non-deductible expenses			6,292	6,147
Non-deductible (taxable) losses			32	(682)
Changes in enacted rates			(3,908)	2,394
Nondeductible Impairment			285,582	0
Change in fair value of warrant liability			$ (454)	$ 302
Income Tax Jurisdiction, Foreign [Member] \| Canada Revenue Agency [Member]
Return-to-provision and other prior period adjustments(2)		$ (1,593)
Return-to-provision and other prior period adjustments, percent		1.80%
Changes in valuation allowances		$ 20,187
Changes in valuation allowances, percent		(22.90%)
Other		$ 394
Other, percent		(0.40%)
Tax rate differential		$ 1,893
Tax rate differential, percent		(2.10%)
Non-taxable portion of investment gains		$ (3,053)
Non-taxable portion of investment gains, percent		3.50%
Foreign exchange on subsidiaries		$ (3,005)
Foreign exchange on subsidiaries, percent		3.40%
Income Tax Jurisdiction, Foreign [Member] \| Federal Ministry of Finance, Germany [Member]
Return-to-provision and other prior period adjustments(2)		$ (2,076)
Return-to-provision and other prior period adjustments, percent		2.40%
Changes in valuation allowances		$ (103)
Changes in valuation allowances, percent		0.10%
Other		$ 2
Other, percent		(0.00%)
Tax rate differential		$ 1,572
Tax rate differential, percent		(1.80%)
Income Tax Jurisdiction, Foreign [Member] \| Portuguese Tax Authority [Member]
Other		$ 371
Other, percent		(0.40%)
Tax rate differential		$ (196)
Tax rate differential, percent		0.20%
Income Tax Jurisdiction, Foreign [Member] \| Other Foreign Jursidictions [Member]
Tax rate differential		$ (51)
Tax rate differential, percent		0.10%

Note 10 - Goodwill

12 Months Ended

May 31, 2026

Notes to Financial Statements

Goodwill [Text Block]

10.

Goodwill

The following tables shows the carrying amount of goodwill as of May 31, 2026 and as of May 31, 2025:

	May 31,
	2026
Cannabis Goodwill	$	2,640,669
Accumulated impairment losses		(1,888,319	)
Total	$	752,350

	*Reporting Units*												*May 31,*
	*Beverage*			*Cannabis*			*Wellness*			*Distribution*			*2025*
Goodwill	$	120,802		$	2,640,669		$	77,470		$	4,458		$	2,843,399
Accumulated impairment losses		(120,802	)		(1,897,431	)		(68,186	)		(4,235	)		(2,090,654	)
Effect of foreign exchange		—			9,112			(9,284	)		(223	)		(395	)
Total	$	—		$	752,350		$	—		$	—		$	752,350

The Company performed the annual impairment test during the fourth quarter ended May 31, 2026 by completing a qualitative assessment of relevant events and circumstances. Based on this assessment, the Company determined that it was not more likely than not that the fair value of any reporting unit was less than its carrying amount. Accordingly, no further goodwill impairment testing was performed and no goodwill impairment charges were recognized during the period.

In the fiscal year ended May 31, 2025, the Company identified indicators of impairment based on a combination of factors, including a sustained decline in market capitalization, driven in part by uncertainty related to changes in U.S. and global economic conditions, including slower-than-anticipated progress in global cannabis legalization and continued declines in the craft beer industry. In addition, changes in non-discretionary market inputs, including increases in the Company’s discount rate, negatively impacted the estimated future cash flows of its reporting units. As a result, the Company concluded it was more likely than not that the fair value of certain reporting units was less than their carrying amounts as of May 31, 2025. Accordingly, the Company utilized the income approach, which uses future discounted cash flows, to determine the fair value of each reporting unit. As a result, the Company recorded non-cash impairment charges of $1,070,000 of cannabis goodwill, $120,815 of beverage goodwill, $53,173 of wellness goodwill and $4,235 of distribution goodwill. The non-cash charge had no impact on the Company’s compliance with debt covenants at May 31, 2025, its cash flows or available liquidity.

In the Company’s cannabis goodwill assessment, the Company used a discount rate of 14.50%, a terminal growth rate of 5%, and an average revenue growth rate of 34% over 5 years, based on an 65% and 25% average probability of anticipated EU and U.S. cannabis legalization, respectively and/or changes in drug policy in various countries within the next 5 years. A 1% increase in the discount rate would result in an additional $133,800 in impairment, a 1% decrease in the terminal growth rate would result in an additional $93,500 in impairment, a 5% decrease in the average growth rate would result in an additional $23,400 in impairment, a 5% decrease in the probability of EU cannabis legalization would result in an additional $44,000 in impairment and a 5% decrease in the probability of US cannabis legalization would result in an additional $17,100 in impairment. Changes to those probabilities resulting in continued delays in or cessation of legalization of cannabis within the United States and internationally, or adverse regulatory changes to existing legislation, could have an unfavorable impact on the estimated future cash flows, and ultimately, the fair value of the cannabis reporting unit, which may result in a material impairment expense recognized in future reporting periods.

In the Company’s beverage goodwill assessment, the Company used a discount rate of 10.00%, a terminal growth rate of 2%, and an average revenue growth rate of 2% over 5 years, which brought the remaining beverage goodwill balance to $nil.

In the Company’s wellness goodwill assessment, the Company used a discount rate of 12.25%, a terminal growth rate of 2%, and an average revenue growth rate of 7% over 5 years, which brought the remaining wellness goodwill balance to $nil.

In the Company’s distribution goodwill assessment, the Company recorded $4,235 of impairments which brought the remaining distribution goodwill balance to $nil.

For the fiscal year ended May 31, 2024, the Company recognized $nil impairment expense.

- Definition

The entire disclosure for goodwill.

+ References + Details

Note 21 - Net Revenue

12 Months Ended

May 31, 2026

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

21.

Net revenue

Net revenue is comprised of:

	*For the year ended May 31,*
	*2026*			*2025*			*2024*
Beverage revenue	$	265,457		$	253,181		$	213,614
Beverage excise taxes		(11,481	)		(12,586	)		(11,520	)
Net beverage revenue		253,976			240,595			202,094
Cannabis revenue		352,306			330,609			370,692
Cannabis excise taxes		(83,964	)		(81,608	)		(97,894	)
Net cannabis revenue		268,342			249,001			272,798
Distribution revenue		327,244			271,228			258,740
Wellness revenue		65,892			60,485			55,310
Total	$	915,454		$	821,309		$	788,942

Included in revenue from Canadian adult-use cannabis is $nil of advisory services revenue for the fiscal year ended May 31, 2026, compared to $1,460 and $1,500 of advisory services for the fiscal year ended May 31, 2025 and May 31, 2024, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Note 13 - Bank Indebtedness (Details Textual) $ in Thousands, $ in Thousands, € in Millions	12 Months Ended
	May 31, 2026 USD ($)	May 31, 2026 EUR (€)	May 31, 2026 CAD ($)
American Beverage Crafts Group Inc [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 25,000
Four Twenty Corporation [Member] \| Revolving Credit Facility [Member]
Long-Term Line of Credit	$ 0
Line of Credit [Member] \| Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	75.00%
Line of Credit [Member] \| Aphria Inc [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 1,000
Long-Term Line of Credit			$ 0
Line of Credit [Member] \| CC Pharma GmbH [Member]
Line of Credit Facility, Maximum Borrowing Capacity \| €		€ 7.5
Long-Term Line of Credit	$ 8,775	€ 7.5
Number of Debt Instruments	2	2	2
Line of Credit [Member] \| CC Pharma GmbH [Member] \| Euro Short-Term Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	2.50%
Line of Credit [Member] \| CC Pharma GmbH [Member] \| Euro Interbank Offered Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	4.00%
Operating Line of Credit One [Member] \| CC Pharma GmbH [Member]
Line of Credit Facility, Maximum Borrowing Capacity \| €		€ 7.0
Operating Line of Credit Two [Member] \| CC Pharma GmbH [Member]
Line of Credit Facility, Maximum Borrowing Capacity \| €		€ 0.5

Note 2 - Basis of Preparation

12 Months Ended

May 31, 2026

Notes to Financial Statements

Basis of Accounting [Text Block]

2.	Basis of preparation

The policies applied in these consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”).

These consolidated financial statements have been prepared on the going concern basis which assumes that the Company will continue in operation for the foreseeable future and, accordingly, will be able to realize its assets and discharge its liabilities in the normal course of operations as they come due, under the historical cost convention except for certain financial instruments and digital assets that are measured at fair value, as detailed in the Company’s accounting policies.

Foreign currency

These consolidated financial statements are presented in U.S. dollars (“USD”), which is the Company’s reporting currency; however, the functional currency of the entities in these financial statements are their respective local currencies, including Canadian dollar, USD, Euro, Australian dollar, Argentinian peso, Colombian peso, and British Pound Sterling.

Foreign currency transactions are remeasured to the respective functional currencies of the Company’s entities at the exchange rates in effect on the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are remeasured to the functional currency at the foreign exchange rate applicable at the statement of financial position date. Non-monetary items carried at historical cost denominated in foreign currencies are remeasured to the functional currency at the date of the transactions. Non-monetary items carried at fair value denominated in foreign currencies are remeasured to the functional currency at the date when the fair value was determined. Realized and unrealized exchange gains and losses are recognized through profit and loss.

On consolidation, the assets and liabilities of foreign operations reported in their functional currencies are translated into USD, the Group’s presentation currency, at period-end exchange rates. Income and expenses, and cash flows of foreign operations are translated into USD using average exchange rates. Exchange differences resulting from translating foreign operations are recognized in other comprehensive income (loss) and accumulated in equity.

Basis of consolidation

Subsidiaries are entities controlled by the Company. Control exists when the Company either has a controlling voting interest or is the primary beneficiary of a variable interest entity. In certain circumstances, such as with the BrewDog US acquisition, the Company may also consolidate an entity or a group of acquired assets and assumed liabilities where the Company has obtained effective control over the relevant operations, notwithstanding that certain regulatory approvals, licensing transfers, or other administrative matters remain pending as of the date control is obtained. In such cases, consolidation commences on the date the Company obtains the power to direct the relevant activities and is exposed to the variable returns of the operations, consistent with the guidance in ASC 810 and, where applicable, the acquisition date determined under ASC 805, see Note 9 (Business combinations).

The financial statements of all subsidiaries are included in the Financial Statements from the date that control commences until the date that control ceases. All intercompany balances and transactions have been eliminated on consolidation. A complete list of our subsidiaries that existed as of our most recent fiscal year end is included in the Annual Report.

Reverse stock split

Effective December 2, 2025, the Company implemented a reverse stock split of its outstanding shares of Common Stock, at a ratio of one-for-ten (the “Reverse Stock Split”).

No fractional shares were issued in connection with the Reverse Stock Split. Fractional shares resulting from the Reverse Stock Split were rounded down to the nearest whole share and stockholders received cash in lieu of any fractional shares that were created by the Reverse Stock Split. Each stockholder's percentage ownership interest in the Company and proportional voting power remained unchanged as a result of the Reverse Stock Split, except for adjustments that resulted from rounding fractional shares down to whole shares.

All issued and outstanding Common Stock, per share amounts, and outstanding equity instruments and awards exercisable into Common Stock contained in the consolidated financial statements of the Company and notes thereto have been retroactively adjusted to reflect the Reverse Stock Split for all prior periods presented.

Equity method investments

In accordance with ASC 323, Investments – Equity Method and Joint Ventures, investments in entities over which the Company does not have a controlling financial interest but has significant influence are accounted for using the equity method, with the Company’s share of earnings or losses reported in earnings or losses from equity method investments on the statements of net loss and comprehensive loss. Equity method investments are recognized initially at cost, which includes transaction costs. After initial recognition, the consolidated financial statements include the Company’s share of undistributed earnings or losses, and impairment, if any, until the date on which significant influence ceases.

If the Company’s share of losses in an equity investment equals or exceeds its interest in the entity, including any net advances, the group does not recognize further losses, unless it has guaranteed obligations of the investee or is otherwise committed to provide further financial support for the investee.

Unrealized gains on transactions between the Company and its equity-method investees are eliminated only to the extent of the Company’s interest in these entities. Unrealized losses are also eliminated, except to the extent that the underlying asset is impaired.

Note 3 - Significant Accounting Policies (Details Textual)	12 Months Ended
	May 31, 2026 USD ($) shares	May 31, 2025 USD ($) shares
Cash and Cash Equivalents, Maturity Period (Month)	3 months
Restricted Cash and Cash Equivalent, Current \| $	$ 3,365
Asset, Held-for-Sale, Not Part of Disposal Group \| $	$ 2,449,000	$ 5,800,000
Number of Operating Segments	4
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)	21,092	21,092
Stock Appreciation Rights (SARs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)	0
Restricted Stock Units (RSUs) [Member]
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants (in shares)	7,583,186	2,132,358
Share-Based Payment Arrangement, Option [Member]
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants (in shares)	303,148	303,139
Warrants [Member]
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants (in shares)	0	620,900
Convertible Debentures [Member]
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants (in shares)	3,314,080	3,954,802
Fort Collins Facility [Member]
Asset, Held-for-Sale, Not Part of Disposal Group \| $	$ 2,449

Note 9 - Business Acquisitions - Assets Acquired and Liabilities Assumed (Details) € in Thousands								12 Months Ended
	Apr. 15, 2026 USD ($)	Apr. 15, 2026 EUR (€)	Apr. 01, 2026 USD ($)	Mar. 23, 2026 USD ($)	Mar. 09, 2026 USD ($)	Mar. 02, 2026 USD ($)	Sep. 01, 2024 USD ($)	May 31, 2026 USD ($)
Cash consideration							$ 22,979
Craft Beverage Business Acquisition II [Member]
Cash consideration							22,979,000
Cash and cash equivalents							4,869,000
Accounts receivable							1,993,000
Inventory							6,844,000
Prepaids and other current assets							185,000
Capital assets							20,916,000
Finance lease, right-of-use assets							1,869,000
Operating lease, right-of-use assets							1,884,000
Total assets							38,560,000
Accounts payable and accrued liabilities							11,828,000
Current portion of finance lease liabilities							354,000
Current portion of operating lease liabilities							564,000
Finance lease liabilities							1,515,000
Operating lease liabilities							1,320,000
Total liabilities							15,581,000
Total net assets acquired							$ 22,979,000
Lyphe Group [Member]
Cash consideration	$ 2,200,000	€ 3,074
Cash and cash equivalents	83,000
Accounts receivable	125,000
Inventory	146,000
Prepaids and other current assets	118,000
Capital assets	34,000
Total assets	4,834,000
Accounts payable and accrued liabilities	1,760,000
Total liabilities	1,760,000
Total net assets acquired	3,074,000
Intangible assets	4,328,000
Shares	2,795,000
Cash consideration	$ 279,000
BrewDog UK I [Member]
Cash consideration						$ 44,220,000
Cash and cash equivalents						159,000
Accounts receivable						336,000
Inventory						16,173,000
Prepaids and other current assets						159,000
Capital assets						60,664,000
Finance lease, right-of-use assets						44,640,000
Operating lease, right-of-use assets						16,713,000
Total assets						149,606,000
Accounts payable and accrued liabilities						44,033,000
Current portion of finance lease liabilities						2,827,000
Current portion of operating lease liabilities						2,088,000
Finance lease liabilities						41,813,000
Operating lease liabilities						14,625,000
Total liabilities						105,386,000
Total net assets acquired						44,220,000
Intangible assets						$ 10,762,000
BrewDog Australia [Member]
Cash consideration					$ 0
Cash and cash equivalents					392,000
Accounts receivable					797,000
Inventory					604,000
Prepaids and other current assets					322,000
Capital assets					2,769,000
Finance lease, right-of-use assets					17,318,000
Operating lease, right-of-use assets					0
Total assets					22,202,000
Accounts payable and accrued liabilities					4,885,000
Current portion of finance lease liabilities					72,000
Current portion of operating lease liabilities					0
Finance lease liabilities					17,245,000
Operating lease liabilities					0
Total liabilities					22,202,000
Total net assets acquired					0
Intangible assets					$ 0
BrewDog UK II [Member]
Cash consideration				$ 560,000
Cash and cash equivalents				0
Accounts receivable				0
Inventory				0
Prepaids and other current assets				0
Capital assets				1,738,000
Finance lease, right-of-use assets				0
Operating lease, right-of-use assets				5,213,000
Total assets				6,951,000
Accounts payable and accrued liabilities				1,177,000
Current portion of finance lease liabilities				0
Current portion of operating lease liabilities				459,000
Finance lease liabilities				0
Operating lease liabilities				4,755,000
Total liabilities				6,391,000
Total net assets acquired				560,000
Intangible assets				$ 0
BrewDog US [Member]
Cash consideration			$ 9,293,000
Cash and cash equivalents			19,000
Accounts receivable			0
Inventory			2,098,000
Prepaids and other current assets			0
Capital assets			7,176,000
Finance lease, right-of-use assets			17,881,000
Operating lease, right-of-use assets			3,697,000
Total assets			30,871,000
Accounts payable and accrued liabilities			0
Current portion of finance lease liabilities			466,000
Current portion of operating lease liabilities			299,000
Finance lease liabilities			17,415,000
Operating lease liabilities			3,398,000
Total liabilities			21,578,000
Total net assets acquired			9,293,000
Intangible assets			$ 0
BrewDog PLC [Member]
Cash consideration								$ 54,073,000
Cash and cash equivalents								570,000
Accounts receivable								1,133,000
Inventory								18,875,000
Prepaids and other current assets								481,000
Capital assets								72,347,000
Finance lease, right-of-use assets								79,839,000
Operating lease, right-of-use assets								25,623,000
Total assets								209,630,000
Accounts payable and accrued liabilities								50,095,000
Current portion of finance lease liabilities								3,365,000
Current portion of operating lease liabilities								2,846,000
Finance lease liabilities								76,473,000
Operating lease liabilities								22,778,000
Total liabilities								155,557,000
Total net assets acquired								54,073,000
Intangible assets								$ 10,762,000

Note 11 - Long-term Investments (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024	Jan. 16, 2025
Equity Securities without Readily Determinable Fair Value, Amount	$ 3,595
Proceeds from Sale of Equity Method Investments	2,566
Unrealized Gain (Loss) on Investments	812	$ 5,500	$ 217
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount	$ 3,796
Superhero Acquisition LP [Member]
Equity Investment, Strike Price (in dollars per share)	$ 1
Equity Securities without Readily Determinable Fair Value, Amount	$ 4,364	$ 8,160
Superhero Acquisition LP [Member] \| Upon U.S. Federal Cannabis Legalization [Member]
Subsidiary, Ownership Percentage, Parent	68.00%			68.00%
Equity Investment, Strike Price (in dollars per share)	$ 1			$ 1

Note 25 - Interest Expense, Net - Summary of Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
Interest income	$ 6,249	$ 11,379	$ 12,831
Interest expense	(29,912)	(41,331)	(49,264)
Total	$ (23,663)	$ (29,952)	$ (36,433)

- Definition

Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-24

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483013/835-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-3

+ Details

Note 30 - Subsequent Events (Details Textual) - USD ($) $ in Thousands			1 Months Ended	12 Months Ended
	Jul. 24, 2026	Jun. 04, 2026	Jun. 24, 2026	May 31, 2026	May 31, 2025	May 31, 2024
Proceeds from Issuance of Common Stock				$ 157,974	$ 161,188	$ 8,619
Revolving Credit Facility [Member] \| American Beverage Crafts Group Inc [Member]
Line of Credit Facility, Maximum Borrowing Capacity				25,000
TLRY 27 [Member]
Long-Term Debt, Gross				$ 79,529	$ 86,428
Subsequent Event [Member] \| Revolving Credit Facility [Member] \| American Beverage Crafts Group Inc [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 15,000
Repayments of Debt	$ 10,000
Subsequent Event [Member] \| TLRY 27 [Member]
Long-Term Debt, Gross			$ 70,000
Subsequent Event [Member] \| Conversion of TLRY 27 Notes to Shares [Member]
Shares Exchanged for Debt Settlement (in shares)			3,852,527
Debt Principal, Settlement or Exchange, Amount			$ 18,000
At-the-Market Program [Member]
Stock Issued During Period, Shares, New Issues (in shares)				19,625,505
Proceeds from Issuance of Common Stock				$ 161,636
Net Proceeds from Issuance of Common Stock				157,974
Payments of Stock Issuance Costs				$ 3,662
At-the-Market Program [Member] \| Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues (in shares)		639,581
Proceeds from Issuance of Common Stock		$ 3,528
Net Proceeds from Issuance of Common Stock		3,457
Payments of Stock Issuance Costs		$ 71

Note 16 - Convertible Debentures Payable (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Convertible Debt [Table Text Block]

	*May 31,*		*May 31,*
	*2026*		*2025*
5.20% Convertible Notes ("TLRY 27")	$	79,529	$	86,428
Deduct - current portion		—		—
Total convertible debentures payable, non current portion	$	79,529	$	86,428

	*May 31,*			*May 31,*
	*2026*			*2025*
5.20% Contractual debenture	$	172,500		$	172,500
Debt settlement		(84,500	)		(67,500	)
Unamortized discount		(8,471	)		(18,572	)
Net carrying amount	$	79,529		$	86,428

Note 3 - Significant Accounting Policies - Useful Lives of Intangible Assets (Details)	May 31, 2026
Customer Relationships & Distribution Channel [Member] \| Minimum [Member]
Intangible Asset, Useful Life (Year)	14 years
Customer Relationships & Distribution Channel [Member] \| Maximum [Member]
Intangible Asset, Useful Life (Year)	16 years
Licenses, Permits and Applications [Member] \| Minimum [Member]
Intangible Asset, Useful Life (Year)	12 months
Intellectual Property, Trademarks and Brands [Member] \| Minimum [Member]
Intangible Asset, Useful Life (Year)	15 months
Intellectual Property, Trademarks and Brands [Member] \| Maximum [Member]
Intangible Asset, Useful Life (Year)	25 years
Know How [Member] \| Maximum [Member]
Intangible Asset, Useful Life (Year)	5 years

Note 19 - Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]


	*Foreign*
	*currency*
	*translation*
	*gain (loss)*
Balance May 31, 2023	$	(46,610	)
Other comprehensive income (loss)		3,111
Balance May 31, 2024	$	(43,499	)
Other comprehensive income (loss)		436
Balance May 31, 2025	$	(43,063	)
Other comprehensive income (loss)		(1,170	)
Balance May 31, 2026	$	(44,233	)

Note 21 - Net Revenue - Components of Net Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
Net revenue	$ 915,454	$ 821,309	$ 788,942
Beverage Alcohol Business [Member]
Revenue	265,457	253,181	213,614
Excise taxes	(11,481)	(12,586)	(11,520)
Net revenue	253,976	240,595	202,094
Cannabis Segment [Member]
Revenue	352,306	330,609	370,692
Excise taxes	(83,964)	(81,608)	(97,894)
Net revenue	268,342	249,001	272,798
Distribution Business [Member]
Net revenue	327,244	271,228	258,740
Wellness Business [Member]
Net revenue	$ 65,892	$ 60,485	$ 55,310

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

+ Details

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

+ Details

Note 20 - Non-controlling Interests (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Condensed Balance Sheet [Table Text Block]

				*Aphria*			*ColCanna*			*May 31,*
	*Enroot*			*Diamond*			*S.A.S.*			*2026*
Current assets	$	201		$	110,664		$	1		$	110,866
Non-current assets		—			105,278			3,756			109,034
Current liabilities		(4	)		(129,883	)		(7,147	)		(137,034	)
Non-current liabilities		—			(38,231	)		(1,440	)		(39,671	)
Net assets	$	197		$	47,828		$	(4,830	)	$	43,195

	SH		*CC Pharma*		*Aphria*			*ColCanna*			*May 31,*
	*Acquisition*		*Nordic ApS*		*Diamond*			*S.A.S.*			*2025*
Current assets	$	—	$	—	$	83,390		$	20		$	83,410
Non-current assets		—		—		114,677			3,348			118,025
Current liabilities		—		—		(126,986	)		(6,953	)		(133,939	)
Non-current liabilities		—		—		(31,720	)		(1,442	)		(33,162	)
Net assets	$	—	$	—	$	39,361		$	(5,027	)	$	34,334

Condensed Income Statement [Table Text Block]

				*Aphria*			*ColCanna*			*May 31,*
	*Enroot*			*Diamond*			*S.A.S.*			*2026*
Revenue	$	29		$	81,477		$	—		$	81,506
Total expenses		39			48,459			(622	)		47,876
Net (loss) income		(10	)		33,018			622			33,630
Other comprehensive (loss) income		—			2,899			(425	)		2,474
Net comprehensive (loss) income	$	(10	)	$	35,917		$	197		$	36,104
Non-controlling interest %		25	%		49	%		10	%	NA
Comprehensive (loss) income attributable to NCI		(3	)		17,599			20			17,616
Additional income attributable to NCI		—			—			—			-
Net comprehensive (loss) income attributable to NCI	$	(3	)	$	17,599		$	20		$	17,616

	SH			*CC Pharma*			*Aphria*			*ColCanna*			*May 31,*
	*Acquisition*			*Nordic ApS*			*Diamond*			*S.A.S.*			*2025*
Revenue	$	—		$	—		$	78,414		$	—		$	78,414
Total expenses		20,000			11			54,274			290			74,575
Net (loss) income		(20,000	)		(11	)		24,140			(290	)		3,839
Other comprehensive (loss) income		—			8			(45	)		(12	)		(49	)
Net comprehensive (loss) income	$	(20,000	)	$	(3	)	$	24,095		$	(302	)	$	3,790
Non-controlling interest %		32	%		25	%		49	%		10	%	NA
Comprehensive (loss) income attributable to NCI		(6,400	)		(1	)		11,807			(30	)		5,376
Additional income attributable to NCI		—			—			—			—			—
Net comprehensive (loss) income attributable to NCI	$	(6,400	)	$	(1	)	$	11,807		$	(30	)	$	5,376

	SH			*CC Pharma*			*Aphria*			*ColCanna*			*May 31,*
	*Acquisition*			*Nordic ApS*			*Diamond*			*S.A.S.*			*2024*
Revenue	$	—		$	—		$	103,331		$	—		$	103,331
Total expenses		42,681			(1,064	)		40,935			(203	)		82,349
Net (loss) income		(42,681	)		1,064			62,396			203			20,982
Other comprehensive (loss) income		—			(9	)		171			(334	)		(172	)
Net comprehensive (loss) income	$	(42,681	)	$	1,055		$	62,567		$	(131	)	$	20,810
Non-controlling interest %		32	%		25	%		49	%		10	%	NA
Comprehensive (loss) income attributable to NCI		(13,658	)		264			30,658			(13	)		17,251
Additional income attributable to NCI		—			—			5,336			—			5,336
Net comprehensive (loss) income attributable to NCI	$	(13,658	)	$	264		$	35,994		$	(13	)	$	22,587

Consolidated Statements of Financial Position - USD ($)
$ in Thousands

May 31, 2026

Dec. 31, 2025

Current assets

Cash and cash equivalents

$ 225,977

$ 221,666

Restricted cash

3,365

Marketable securities

5,289

34,697

Accounts receivable, net

189,170

121,489

Inventory

301,192

270,882

Prepaids and other current assets

64,692

34,092

Assets held for sale

2,449

5,800

Total current assets

792,134

688,626

Capital assets

680,225

568,433

Operating lease, right-of-use assets

42,318

22,279

Digital assets

674

Intangible assets

42,779

21,423

Goodwill

752,350

Long-term investments

6,551

10,132

Other assets

10,981

11,084

Total assets

2,328,012

2,074,327

Liabilities, Current [Abstract]

Bank indebtedness

8,775

7,181

Accounts payable and accrued liabilities

318,088

235,322

Contingent consideration

15,000

Warrant liability

1,092

Operating and Finance Lease Liability, Current

13,357

6,941

Current portion of long-term debt

18,160

14,767

Total current liabilities

358,380

280,303

Liabilities, Noncurrent [Abstract]

Operating and Finance Lease Liability, Noncurrent

158,155

64,925

Long-term debt

120,425

148,493

Convertible debentures payable

79,529

86,428

Deferred tax liabilities, net

12,256

3,748

Other liabilities

4,400

855

Total liabilities

733,145

584,752

Commitments and contingencies (refer to Note 27)

Stockholders' equity

Common stock ($0.0001 par value; 1,416,000,000 common shares authorized;131,683,075 and 106,067,875 common shares issued and outstanding, respectively)(1)

^[1]

132

106

Treasury Stock (589,217 and 200,422 treasury shares issued and outstanding, respectively)(1)

^[1]

Preferred shares ($0.0001 par value; 10,000,000 preferred shares authorized; nil and nil preferred shares issued and outstanding, respectively)

Additional paid-in capital

6,627,056

6,401,657

Accumulated other comprehensive loss

(44,233)

(43,063)

Accumulated deficit

(4,968,623)

(4,847,226)

Total Tilray Brands, Inc. stockholders' equity

1,614,332

1,511,474

Non-controlling interests

(19,465)

(21,899)

Total stockholders' equity

1,594,867

1,489,575

Total liabilities and stockholders' equity

$ 2,328,012

$ 2,074,327

[1]	Current and prior year share amounts have been retrospectively adjusted to reflect the Reverse Stock Split (as defined below), which became effective on December 2, 2025. See Note 2 (Basis of preparation).

Note 28 - Financial Risk Management and Financial Instruments - Assets and Liabilities Measured on a Recurring Basis - Inputs Used to Recognize Unrealized Gain (Loss) on Fair Value (Details)	Feb. 28, 2026
Valuation Technique, Discounted Cash Flow [Member] \| Measurement Input, Probability of Achievement [Member]
Equity investments	0.70

Note 23 - General and Administrative Expenses (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Schedule of General and Administrative Expenses [Table Text Block]

	*For the year ended May 31,*
	*2026*			*2025*		*2024*
Salaries and wages	$	91,448		$	88,015	$	83,673
Office and general		42,171			28,314		28,460
Stock-based compensation		45,940			24,289		31,769
Insurance		9,792			11,843		12,586
Professional fees		4,238			4,765		5,345
(Gain) loss on sale of capital assets		(509	)		928		(4,198	)
Travel and accommodation		5,569			5,717		5,138
Rent		4,980			3,453		4,585
Total	$	203,629		$	167,324	$	167,358

Note 4 - Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	May 31, 2026	Dec. 31, 2025	May 31, 2025
Inventory	$ 301,192	$ 270,882	$ 270,882
Beverage Alcohol Inventory [Member]
Inventory	80,723		63,965
Plants [Member]
Inventory	38,253		24,045
Dried Cannabis [Member]
Inventory	106,467		103,507
Cannabis Derivatives [Member]
Inventory	5,463		7,877
Cannabis Vapes [Member]
Inventory	1,649		1,860
Packaging and Other Inventory Items [Member]
Inventory	14,255		15,366
Distribution Inventory [Member]
Inventory	40,054		38,735
Wellness Inventory [Member]
Inventory	$ 14,328		$ 15,527

Consolidated Statements of Loss and Comprehensive Loss - USD ($)
$ in Thousands

12 Months Ended

May 31, 2026

May 31, 2025

May 31, 2024

Net revenue

$ 915,454

$ 821,309

$ 788,942

Cost of goods sold

655,013

580,739

565,591

Gross profit

260,441

240,570

223,351

Operating expenses:

General and administrative

203,629

167,324

167,358

Selling

49,328

56,039

37,233

Amortization

19,585

88,616

84,752

Marketing and promotion

42,290

37,048

41,933

Research and development

361

284

635

Change in fair value of contingent consideration

(15,000)

(15,790)

Asset, Impairment Loss

2,096,139

Other than temporary change in fair value of convertible notes receivable

21,661

42,681

Litigation costs, net of recoveries

3,902

17,347

8,251

Restructuring costs

13,113

34,283

15,581

Transaction costs (income), net

6,260

4,534

15,462

Total operating expenses

323,468

2,523,275

398,096

Operating loss

(63,027)

(2,282,705)

(174,745)

Interest expense, net

(23,663)

(29,952)

(36,433)

Nonoperating Income (Expense)

(1,370)

10,284

(37,842)

Loss before income taxes

(88,060)

(2,302,373)

(249,020)

Income tax expense (recovery), net

17,098

(121,017)

(26,616)

Net loss

(105,158)

(2,181,356)

(222,404)

Total net income (loss) attributable to:

Stockholders of Tilray Brands, Inc.

(121,397)

(2,186,738)

(244,981)

Non-controlling interests

(16,239)

(5,382)

(22,577)

Other comprehensive gain (loss), net of tax

Foreign currency translation gain (loss)

207

430

3,121

Comprehensive loss

(104,951)

(2,180,926)

(219,283)

Total comprehensive income (loss) attributable to:

Stockholders of Tilray Brands, Inc.

(122,567)

(2,186,302)

(241,870)

Non-controlling interests

$ 17,616

$ 5,376

$ 22,587

Weighted average number of common shares - basic(1) (in shares)

^[1]

111,832,375

89,032,602

74,264,948

Weighted average number of common shares - diluted(1) (in shares)

^[1]

111,832,375

89,032,602

74,264,948

Net loss per share - basic(1) (in dollars per share)

^[1]

$ (1.09)

$ (24.56)

$ (3.3)

Net loss per share - diluted(1) (in dollars per share)

^[1]

$ (1.09)

$ (24.56)

$ (3.3)

[1]	Current and prior year share amounts have been retrospectively adjusted to reflect the Reverse Stock Split, which became effective on December 2, 2025. See Note 2 (Basis of preparation).

Note 5 - Related Party Transactions

12 Months Ended

May 31, 2026

Notes to Financial Statements

5.	Related party transactions

In the normal course of business, the Company enters into related party transactions with certain entities under common control and joint ventures as detailed below.

Solana Life Group, S. de R.L.

On October 13, 2025, the Company entered into a strategic partnership for medical cannabis operations in Panama. Under this partnership, the Company holds a 25% equity interest in Solana Life Group, S. de R.L., a Panamanian entity. The joint venture is engaged in the importation, distribution, and commercialization of medical cannabis products in Panama. During the fiscal year ended May 31, 2026, there were no transactions with this entity.

RIKI Ventures, LLC

The Company entered into a strategic partnership on December 12, 2022 with RIKI Ventures, LLC. in which the Company had a joint venture arrangement with a 50% ownership and voting interest. This venture was held by our craft beverage company Breckenridge. During the fiscal year ended May 31, 2025, there were no transactions with this entity and the Company dissolved its membership interest in RIKI Ventures, LLC. During the fiscal year ended May 31, 2026, as a result of the sold membership interest, RIKI Ventures paid a termination fee of $77 that was recorded within the Consolidated Statement of Loss, within other non-operating (losses) gains, net.

The Company also has the following related party employment arrangements. Benjamin Persofsky (son of Director, Renah Persofsky) is employed as Senior Legal Counsel in the Company’s legal department. Garrett Simon (son of Irwin Simon) is employed in the Company’s beverage marketing group. In Fiscal Year 2026, (i) Mr. Persofsky earned total compensation equal to $130 and (ii) Mr. Simon earned total compensation equal to £90 ($127). Their respective compensation amounts are commensurate with that of similarly situated employees at other companies. The Company’s Board of Directors, through its Audit Committee, reviewed and approved these related party transactions.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(7)(e)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Note 18 - Stockholders' Equity (Details Textual)

12 Months Ended

Apr. 15, 2026

Sep. 15, 2025

May 31, 2026

USD ($)

May 31, 2025

USD ($)

May 31, 2024

USD ($)

Dec. 31, 2025

Nov. 30, 2025

Apr. 30, 2021

Shares Authorized, Total (in shares)

1,426,000,000

Common Stock, Shares Authorized (in shares)

1,416,000,000

Preferred Stock, Shares Authorized (in shares)

10,000,000

Common Stock, Shares, Outstanding (in shares)

131,683,075

106,067,875

Common Stock, Shares, Issued (in shares)

131,683,075

106,067,875

Treasury Stock, Common, Shares (in shares)

589,217

200,422

Preferred Stock, Shares Issued (in shares)

Preferred Stock, Shares Outstanding (in shares)

Proceeds from Issuance of Common Stock | $

$ 157,974,000

$ 161,188,000

$ 8,619,000

Stock Issued During Period, Shares, Settlement of Financing Liability (in shares)

861,707

Stock Issued During Period, Value, Settlement of Financing Liability | $

$ (360,000)

(1,544,000)

21,487,000

Stock Issued During Period, Shares, Warrants Exercised (in shares)

620,900

Stock Cancelled During Period, Shares, Reverse Stock Splits (in shares)

20,652

Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture (in shares)

990,196

Share-Based Payment Arrangement, Expense | $

$ 45,940,000

$ 24,289,000

$ 31,769,000

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)

21,092

Tilray Two Thousand And Eighteen Equity Incentive Plan And Original Plan [Member]

Stock Issued During Period, Value, Issued for Services | $

$ 500,000

Stock Granted, Fair Value Share Based Compensation | $

$ 1,000,000

Common Stock, Capital Shares Reserved for Future Issuance (in shares)

980,685

Common Stock Capital Shares Reserved For Future Issuance, Annual Automatic Increase Percentage

4.00%

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)

Time-based Restricted Stock Units [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)

4,562,669

1,350,513

Performance-based Restricted Stock Units [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)

756,615

Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number (in shares)

744,117

756,615

Restricted Stock Units (RSUs) [Member] | Tilray Two Thousand And Eighteen Equity Incentive Plan And Original Plan [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)

Restricted Stock Units (RSUs) [Member] | Tilray Two Thousand And Eighteen Equity Incentive Plan And Original Plan [Member] | Minimum [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)

3 years

Restricted Stock Units (RSUs) [Member] | Tilray Two Thousand And Eighteen Equity Incentive Plan And Original Plan [Member] | Maximum [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)

4 years

Stock Appreciation Rights (SARs) [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares)

Stock Appreciation Rights (SARs) [Member] | Tilray Two Thousand And Eighteen Equity Incentive Plan And Original Plan [Member] | Maximum [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year)

10 years

Lyphe Group [Member]

Stock Issued During Period, Shares, Acquisitions (in shares)

398,666

Aphria [Member] | Predecessor Plan [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares)

4,523

Business Combination, Common Share Exchange Ratio

4.352

HEXO [Member] | Predecessor Plan [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares)

18,717

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Converted Upon Acquisition, Number (in shares)

126,779

Share-Based Payment Arrangement, Plan Modification, Incremental Cost | $

$ 0

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number (in shares)

18,717

Treasury Stock, Common [Member]

Treasury Stock, Common, Shares (in shares)

(589,217)

(200,422)

Stock Issued During Period, Shares, Settlement of Financing Liability (in shares)

Stock Issued During Period, Value, Settlement of Financing Liability | $

^[1]

$ 0

Stock Issued During Period, Shares, Warrants Exercised (in shares)

Stock Issued During Period, Shares, Acquisitions (in shares)

Additional Paid-in Capital [Member]

Stock Issued During Period, Value, Settlement of Financing Liability | $

$ 14,821,000

23,823,000

$ 47,702,000

Settlement of TLRY 27 Convertible Note With Share Issuance [Member] | Treasury Stock, Common [Member]

Debt Conversion, Converted Instrument, Shares Issued (in shares)

379,420

TLRY 27 [Member]

Stock Issued During Period, Shares, Repurchase of Convertible Securities (in shares)

3,138,878

Stock Issued During Period, Value, Repurchase of Convertible Securities | $

$ 17,157,000

$ 67,258,000

Debt Instrument, Principal Exchanged in Cancellation of Convertible Notes | $

17,000,000

Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature | $

$ 4,394,000

TLRY 27 [Member] | Treasury Stock, Common [Member]

Stock Issued During Period, Shares, Repurchase of Convertible Securities (in shares)

(379,420)

(781,159)

Stock Issued During Period, Value, Repurchase of Convertible Securities | $

^[1]

$ 0

TLRY 27 [Member] | Additional Paid-in Capital [Member]

Stock Issued During Period, Value, Repurchase of Convertible Securities | $

$ 17,157,000

$ 67,251,000

At-the-Market Program [Member]

Stock Issued During Period, Shares, New Issues (in shares)

19,625,505

Proceeds from Issuance of Common Stock | $

$ 161,636,000

Net Proceeds from Issuance of Common Stock | $

157,974,000

Payments of Stock Issuance Costs | $

$ 3,662,000

At-the-Market Program [Member] | Treasury Stock, Common [Member]

Stock Issued During Period, Shares, New Issues (in shares)

[1]	Current and prior year share amounts have been retrospectively adjusted to reflect the Reverse Stock Split (as defined below), which became effective on December 2, 2025. See Note 2 (Basis of preparation).

Note 29 - Segment Reporting (Details Textual) $ in Thousands	12 Months Ended
	May 31, 2026 USD ($)	May 31, 2025 USD ($)	May 31, 2024 USD ($)
Number of Reportable Segments	4
Customer Concentration Risk [Member] \| Revenue Benchmark [Member] \| Major Customers [Member]
Number Of Major Customers	0	0	0
Advisory Services Agreement With HEXO [Member] \| Advisory Services Revenue [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 0	$ 1,460	$ 1,500

- Definition

+ References

+ Details

Note 7 - Leases (Details Textual) - USD ($) $ in Thousands	12 Months Ended
Note 7 - Leases (Details Textual) - USD ($) $ in Thousands	May 31, 2026	May 31, 2025
Lease, Cost	$ 4,980	$ 3,453
Sublease Income	0	761
Operating and Financing Lease, Liability	171,512	$ 71,866
Disposal Group, Held-for-Sale, Not Discontinued Operations [Member]
Operating and Financing Lease, Liability	$ 985
Maximum [Member]
Lessee, Remaining Lease Term (Year)	30 years

Note 8 - Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)	May 31, 2026	Dec. 31, 2025	May 31, 2025
Cost	$ 57,999,000		$ 1,628,441,000
Accumulated amortization	(15,220,000)		(343,258,000)
Total	42,779,000	$ 21,423,000	21,423,000
Accumulated impairment losses			(1,263,760,000)
Customer Relationships and Distribution Channel [Member]
Cost	6,793,000		610,240,000
Accumulated amortization	(264,000)		(166,032,000)
Total	6,529,000		0
Accumulated impairment losses			(444,208,000)
Licenses, Permits and Applications [Member]
Cost	24,573,000		387,238,000
Accumulated amortization	(5,707,000)		(9,693,000)
Total	18,866,000		10,523,000
Accumulated impairment losses			(367,022,000)
Intellectual Property, Trademarks, Know How and Brands [Member]
Cost	26,633,000		618,514,000
Accumulated amortization	(9,249,000)		(155,084,000)
Total	17,384,000		10,900,000
Accumulated impairment losses	$ (452,530)		(452,530,000)
Noncompete Agreements [Member]
Cost			12,449,000
Accumulated amortization			(12,449,000)
Total			0
Accumulated impairment losses			$ 0

Note 3 - Significant Accounting Policies

12 Months Ended

May 31, 2026

Notes to Financial Statements

Significant Accounting Policies [Text Block]

3.	Significant accounting policies

The significant accounting policies used by the Company are as follows:

Cash and cash equivalents

Restricted cash

Marketable Securities

Accounts receivable

Inventory

Capital assets

Asset type	Depreciation method	Depreciation term (estimated useful life)
Production facility	Straight-line	20 – 30 years
Equipment	Straight-line	3 – 25 years
Leasehold improvements	Straight-line	Lesser of estimated useful life or lease term
Finance lease right-of-use assets	Straight-line	Lesser of the lease term and the useful life of the leased asset

Assets held for sale

Intangible assets

Intangible assets are recorded at cost and amortized on a straight-line basis over the estimated useful lives. The Company uses the following ranges of asset lives:

Asset type	Amortization term
Customer relationships & distribution channel	14 – 16 years
Licences, permits & applications	12 months – indefinite
Intellectual property, trademarks & brands	15 months – 25 years
Non-compete agreements	Over term of non-compete
Know how	5 years

Multi-year sports and other sponsorships rights are capitalized in Licenses, permits & applications and are amortized over the life of the contract.

Impairment of long-lived assets

Business combinations and goodwill

Impairment of goodwill and indefinite-lived intangible assets

Leases

Long-term investments

Equity method investments

Convertible debentures

Warrants

Fair value measurements

Income taxes

Revenue

In addition, amounts disclosed as net revenue are net of excise taxes, sales tax, duty tax, allowances, discounts and rebates.

In determining the transaction price for the sale of goods or services, the Company considers the effects of variable consideration and the existence of significant financing components, if any.

Cost of goods sold

General and administrative

Selling

Marketing and promotion

Marketing and promotion expenses are comprised primarily of marketing and advertising expenses.

Research and development

Stock-based compensation

Transaction (income) costs, net

Earnings (loss) per share

Digital Assets

Critical accounting estimates and judgments

Financial statement areas that require significant judgement and estimates are as follows:

New accounting pronouncements not yet adopted

New accounting pronouncements recently adopted

Note 27 - Commitments and Contingencies (Details Textual) $ in Thousands, € in Millions							12 Months Ended
	Jun. 25, 2026 USD ($)	Jun. 25, 2026 EUR (€)	Dec. 31, 2025 USD ($)	Aug. 08, 2023 USD ($)	Jul. 05, 2023 USD ($)	Jan. 04, 2023 USD ($)	May 31, 2026 USD ($)	May 31, 2025 USD ($)
Loss Contingency Accrual							$ 11,931	$ 12,431
Settled Claims [Member]
Loss Contingency Accrual, Period Increase (Decrease)							410
Change in Estimated Likelihood of Claim’s Settlement [Member]
Loss Contingency Accrual, Period Increase (Decrease)							$ 90
Pending Litigation [Member] \| MMIRF, LLC V. Tilray Brands, Inc., Et Al. [Member] \| Damages [Member]
Loss Contingency, Damages Sought, Value			$ 1,000,000
Settled Litigation [Member] \| Fotmer Corporation S.A. v. Tilray Brands Inc. et al. [Member]
Loss Contingency, Damages Sought, Value		€ 11			$ 2,250	$ 1,233
Loss Contingency, Damages Awarded, Value				$ 1,233
Loss Contingency Accrual								$ 0
Proceeds from Legal Settlements	$ 2,250

Note 12 - Income Taxes and Deferred Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	May 31, 2026	Dec. 31, 2025	May 31, 2025
Operating loss carryforwards - United States	$ 73,188		$ 66,048
Capital loss carryforwards	57,869		35,603
Intangible assets	304,067		350,527
Property and equipment	30,793		27,567
Investments and convertible notes receivable	44,361		43,317
Investment tax credits and related pool balance	1,996		2,249
Accruals	12,199		20,932
Stock Compensation	26,596		21,599
Restricted interest carried forward	3,938		0
Other Deferred Items	16,924		21,319
Total Deferred tax assets	1,025,399		1,011,267
Less valuation allowance	(997,361)		(968,929)
Net deferred tax assets	28,038		42,338
Property and equipment	(28,800)		(20,419)
Intangible assets	(8,263)		(1,418)
Convertible Debentures Payable	(3)		(129)
Other Deferred Items	(3,228)		(24,120)
Total deferred tax liabilities	(40,294)		(46,086)
Total Deferred Tax Asset/(Liability)	(12,256)	$ (3,748)	(3,748)
CANADA
Operating loss carryforwards - Canada	437,272		408,718
Others Countries [Member]
Operating loss carryforwards - Canada	$ 16,196		$ 13,388

Note 12 - Income Taxes and Deferred Income Taxes

12 Months Ended

May 31, 2026

Notes to Financial Statements

Income Tax Disclosure [Text Block]

12.

Income taxes and deferred income taxes

Income (loss) before income taxes includes the following components:

	*For the year ended May 31,*
	*2026*			*2025*			*2024*
United States	$	(115,357	)	$	(1,648,187	)	$	(126,735	)
Canada		(17,409	)		(277,811	)		(106,822	)
Other countries		44,706			(376,375	)		(15,463	)
	$	(88,060	)	$	(2,302,373	)	$	(249,020	)

The (recoveries) expense for income taxes consists of:

	For the year ended
	May 31, 2026
Current:
Federal	$	164
State		1,302
Foreign		7,617
Total	$	9,083

Deferred:
Federal	$	(10,552	)
State		1,572
Foreign		16,995
Total	$	8,015
Income tax expense, net	$	17,098

The (recoveries) expense for income taxes for the comparative periods are as follows:

	For the year ended May 31,
	2025			2024
Current:
United States	$	1,974		$	497
Canada		177			10,819
Other countries		2,343			940
	$	4,494		$	12,256

Deferred:
United States	$	(10,015	)	$	(723	)
Canada		(7,435	)		(33,422	)
Other countries		(108,061	)		(4,727	)
	$	(125,511	)	$	(38,872	)
Income tax benefits, net	$	(121,017	)	$	(26,616	)

A reconciliation of income taxes at the statutory rate with the reported taxes under ASU No. 2023-09, Improvements to Income Tax Disclosures, is as follows:

	*For the year ended May 31,*
	*2026*
	*Amount*			*Percent*
Expected Income Tax Expense at the Federal Statutory Rate of 21%	$	(18,492	)		21.0	%

Domestic
Imputed Interest		6,314			(7.2	)%
Pre-tax book income (loss) from DRE's		6,229			(7.1	)%
Section 162(m)		2,862			(3.3	)%
Return-to-provision and other prior period adjustments⁽²⁾		28,318			(32.2	)%
Changes in valuation allowances		(23,772	)		27.0	%
Other		(1,578	)		1.8	%
State and Local Income Taxes, Net of Federal Income Tax Effect⁽¹⁾		2,875			(3.3	)%
Foreign Tax Effects
Canada
Tax rate differential		1,893			(2.1	)%
Non-taxable portion of investment gains		(3,053	)		3.5	%
Foreign exchange on subsidiaries		(3,005	)		3.4	%
Return-to-provision and other prior period adjustments		(1,593	)		1.8	%
Changes in valuation allowances⁽³⁾		20,187			(22.9	)%
Other		394			(0.4	)%
Germany
Tax rate differential		1,572			(1.8	)%
Return-to-provision adjustments		(2,076	)		2.4	%
Changes in valuation allowances		(103	)		0.1	%
Other		2			(0.0	)%
Portugal
Tax rate differential		(196	)		0.2	%
Other		371			(0.4	)%
Other Foreign Jurisdictions		(51	)		0.1	%
Effective Tax Rate	$	17,098			(92.5	)%

(1)

New York (including New York City) contributed more than 50% to State and Local Income Taxes, Net of Federal Income Tax Effect.

(2)

United States return-to-provision relates primarily to prior-year impairment of intangible assets. The United States deferred taxes are fully covered by valuation allowance, therefore no net impact to the financial statements.

(3)

Increase in Canadian valuation allowance relates primarily to current period activity.

Reconciliations of income taxes at the statutory rate with the reported taxes for the comparative periods are as follows:

	*For the year ended May 31,*
	*2025*			*2024*
Loss before net income taxes:	$	(2,302,373	)	$	(249,020	)
Income tax recovery at statutory rate of 21%		(483,708	)		(51,325	)
Tax impact of foreign operations		(41,680	)		(5,661	)
Foreign exchange and other		(14,371	)		(15,586	)
Non-deductible expenses		6,292			6,147
Non-deductible (taxable) losses		32			(682	)
Changes in enacted rates		(3,908	)		2,394
Nondeductible Impairment		285,582			—
Change in fair value of warrant liability		(454	)		302
Return to provision and other prior year items		(33,098	)		16,933
State Provision, net of federal benefit		(14,794	)		612
Change in valuation allowance		179,090			20,250
Income tax recovery, net	$	(121,017	)	$	(26,616	)

Cash paid for income taxes, net of refunds, was as follows:

	*For the year ended*
	*May 31, 2026*
United States
Federal	$	397
State
New York		803
Colorado		13
Illinois		14
Massachusetts		12
North Carolina		25
New Jersey		17
Oregon		35
South Carolina		21
Tennessee		29
Other State		53
		1,419
Foreign
Canada
Federal		(529	)
British Columbia		(468	)
Ontario		38
Germany		(225	)
		(1,184	)
Grand Total	$	235

The following table summarizes the components of deferred tax:

	*For the year ended May 31,*
	*2026*			*2025*
Deferred assets
Operating loss carryforwards - United States	$	73,188		$	66,048
Operating loss carryforwards - Canada		437,272			408,718
Operating loss carryforwards - Other Countries		16,196			13,388
Capital loss carryforwards		57,869			35,603
Intangible assets		304,067			350,527
Property and equipment		30,793			27,567
Investments and convertible notes receivable		44,361			43,317
Investment tax credits and related pool balance		1,996			2,249
Accruals		12,199			20,932
Stock Compensation		26,596			21,599
Restricted interest carried forward		3,938			—
Other Deferred Items		16,924			21,319
Total Deferred tax assets		1,025,399			1,011,267
Less valuation allowance		(997,361	)		(968,929	)
Net deferred tax assets		28,038			42,338
Deferred tax liabilities
Property and equipment		(28,800	)		(20,419	)
Intangible assets		(8,263	)		(1,418	)
Convertible Debentures Payable		(3	)		(129	)
Other Deferred Items		(3,228	)		(24,120	)
Total deferred tax liabilities		(40,294	)		(46,086	)
Total Deferred Tax Asset/(Liability)	$	(12,256	)	$	(3,748	)

The Tax Cuts and Jobs Act (TCJA) was enacted on December 22, 2017 and reduced the U.S. statutory federal corporate tax rate from 35% to 21% and introduced several new international tax provisions, including the tax on Global Intangible Low-Taxed Income (‘‘GILTI’’). The Company has made a policy decision to record GILTI tax as a current-period expense when incurred.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted, which extended and modified certain provisions of the TCJA, including bonus depreciation and interest expense limitations. OBBBA does not have a material impact to the Financial Statements.

As of May 31, 2026, the Company had generated net operating loss carry-forwards in the United States of $347,553, which can be carried forward indefinitely and are generally limited in use annually to 80% of the current year taxable income, starting 2021. The Company has generated net operating loss carry-forwards in Canada of $1,650,146, which can be carried forward for 20 years and begin to expire in 2028. Management believes that it is more-likely-than-not that the benefit from certain United States and foreign net operating loss carry-forwards will not be realized. In recognition of this risk, the Company has provided a valuation allowance on the deferred tax assets relating to these carry-forwards. The net change in the total valuation allowance was an increase of $28,432 and $179,090 for the fiscal years ended May 31, 2026 and 2025, respectively. The total valuation allowance was increased $37,627 by current period earnings and $19,429 by effects of currency translation. The total valuation allowance was decreased by $28,740 related to return-to-provision and other prior period adjustments. The largest component of prior period adjustments to valuation allowances was a decrease of $29,602 in the United States, primarily related to the prior year impairment of intangible assets. These adjustments also reduced corresponding deferred tax assets and liabilities.

The Company recognizes the financial statement impact of a tax position only after determining that the relevant tax authority would more-likely-than-not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the Financial Statements is the largest impact that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant tax authority.

The total amount of gross unrecognized tax benefits (“GUTB”) was $nil for periods May 31, 2026, 2025 and 2024, respectively. There is a reasonable possibility that the Company’s unrecognized tax benefits will change within twelve months due to audit settlements or the expiration of statute of limitations, but the Company does not expect the change to be material to Financial Statements.

The Company recognizes interest and, if applicable, penalties for any uncertain tax positions. Interest and penalties are recorded as a component of income tax expenses. In the fiscal years ended May 31, 2026, 2025 and 2024, the Company recorded $nil, $nil and $nil, respectively, of interest and penalty expenses related to uncertain tax positions. As of May 31, 2026, and 2025, the Company had a cumulative balance of accrued interest and penalties on unrecognized tax positions of $nil and $nil, respectively.

The Company and its subsidiaries are subject to United States federal income tax as well as the income tax of multiple state and foreign jurisdictions. Major jurisdictions where there are wholly owned subsidiaries of Tilray Brands, Inc. which require income tax filings include Canada, Portugal, Germany, and Australia. The earliest periods open for review by local taxing authorities are fiscal years 2022 for Canada, 2022 for Portugal, 2021 for Germany, 2022 for Australia, and 2023 for United States.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 12C
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (SAB Topic 11.C)
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-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Note 27 - Commitments and Contingencies (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Contractual Obligation, Fiscal Year Maturity [Table Text Block]

	*Total*		*2027*		*2028*		*2029*		*2030*		*Thereafter*
Long-term debt repayment	$	139,178		18,160		41,708		49,833		3,677		25,800
Convertible debentures payable		88,000		—		88,000		—		—		—
Material purchase obligations		59,562		48,256		9,568		551		579		608
Construction commitments		663		663		—		—		—		—
Total	$	287,403	$	67,079	$	139,276	$	50,384	$	4,256	$	26,408

Note 23 - General and Administrative Expenses (Details Textual) $ in Thousands	12 Months Ended
	May 31, 2025 USD ($)
Gain (Loss) on Disposition of Assets	$ 1,787

Note 28 - Financial Risk Management and Financial Instruments

12 Months Ended

May 31, 2026

Notes to Financial Statements

Financial Instruments Disclosure [Text Block]

28.

Financial risk management and financial instruments

Financial instruments

The Company has classified its financial instruments as described in Note 3 (Significant accounting policies).

The carrying values of marketable securities, accounts receivable, bank indebtedness and accounts payable and accrued liabilities approximate their fair values due to their short periods to maturity.

As of May 31, 2026 and May 31, 2025, the Company had long-term debt of $1,822 and $2,546, respectively, and the principal portion of convertible debentures payable of $88,000 and $105,000, respectively, subject to fixed interest rates.

Fair value hierarchy

Financial instruments recorded at fair value are classified using a fair value hierarchy that reflects the significance of inputs used in making the measurements. Cash and cash equivalents are Level 1. The hierarchy is summarized as follows:

Level 1

Quoted prices (unadjusted) in active markets for identical assets and liabilities

Level 2

Inputs that are observable for the asset or liability, either directly (prices) or indirectly (derived from prices) from observable market data

Level 3

Inputs for assets and liabilities not based upon observable market data

The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of May 31, 2026 and 2025 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:

							*May 31,*
	*Level 1*		*Level 2*		*Level 3*		*2026*
Financial assets
Cash and cash equivalents	$	225,977	$	—	$	—	$	225,977
Marketable securities		5,289		—		—		5,289
Equity investments measured at fair value		1,197		990		4,364		6,551
Total recurring fair value measurements	$	232,463	$	990	$	4,364	$	237,817

								*May 31,*
	*Level 1*		*Level 2*		*Level 3*			*2025*
Financial assets
Cash and cash equivalents	$	221,666	$	—	$	—		$	221,666
Marketable Securities		34,697		—		—			34,697
Equity investments measured at fair value		909		1,063		8,160			10,132
Financial liabilities
Warrant liability		—		—		(1,092	)		(1,092	)
Contingent consideration		—		—		(15,000	)		(15,000	)
Total recurring fair value measurements	$	257,272	$	1,063	$	(7,932	)	$	250,403

The Company’s financial assets and liabilities required to be measured on a recurring basis are its equity investments measured at fair value, digital assets, acquisition-related contingent consideration, and warrant liability.

During the fiscal year ended May 31, 2026, the Company purchased 9.16 units of Bitcoin. Digital assets recorded at fair value have quoted prices in active markets for identical assets and are classified as Level 1. The following table presents the Company’s digital asset holdings as of May 31, 2026:

	Quantity		Cost Basis		Fair Value		Cumulative Unrealized Gain (Loss)
Bitcoin		9.16	$	1,000	$	674	$	(326	)
Total digital assets		9.16	$	1,000	$	674	$	(326	)

Certain equity investments recorded at fair value have quoted prices in active markets for identical assets and are classified as Level 1. The Company classified securities with observable inputs as Level 2 and without a quoted market price as Level 3.

As of May 31, 2026 and May 31, 2025, included within equity investment under measurement alternative is an option to acquire a 68% membership interest in SH Acquisition for $1.00 upon U.S. federal cannabis legalization valued at $4,364 and $8,160 respectively. During the fiscal year ended May 31, 2026, the fair value of this option decreased by $3,796 due to changes in the discounted cash flow model used to value the underlying business. Specifically, projected cash flows associated with retail operations were reduced to $nil as a result of restructuring activities, with the remaining valuation attributable solely to projected brand-related cash flows.

A portion of the total consideration to be paid in connection with the Company’s acquisition of Montauk Brewing Company (“Montauk”) was contingent upon the achievement by Montauk of certain financial measures as of December 31, 2025. In the event that Montauk achieved either the pre-determined sales volume target or EBITDA target, then $15,000 of contingent consideration would be deemed earned and payable. If both the sales volume target and the EBITDA target were achieved, an additional $3,000 would be deemed earned and payable for a total contingent consideration payment of $18,000.

For the year ended, May 31, 2025, the Company assessed the estimated value of the contingent consideration liability as $15,000, which was estimated to be achieved based on management’s forecast, applying a probability of achievement of 100% for the sales volume target and 0% on the remaining criteria, which was not expected to be achieved as EBITDA targets were not forecasted to be met.

During the three months ended August 31, 2025, the Company reassessed the estimated fair value of the contingent consideration liability as $nil, based on subsequent information regarding Montauk’s operating results and revised expectations for the remainder of the earn‑out period. As a result of lower‑than‑anticipated sales volumes during the peak selling periods of June, July and August 2025, and the loss of certain national retail programs, management concluded that Montauk no longer had a viable path to achieving the sales volume target or the EBITDA target within the earn‑out period. Accordingly, the Company applied a probability of achievement of 0% to the sales volume target and 0% to the remaining criteria. The resulting $15,000 change in fair value of the contingent consideration liability was recorded within the statement of profit and loss and contributed to the Company’s net income generated during the period ended August 31, 2025, despite historically reporting a net loss.

During the three months ended February 28, 2026, the earn-out period concluded and neither financial measure was achieved. Accordingly, no further changes to the fair value of the contingent consideration liability were recognized during the year ended May 31, 2026 as no contingent consideration obligation was payable.

The fair value measurement was based on significant unobservable inputs related to projected operating performance and expected cash outflows and was therefore classified was a Level 3 fair value measurement.

The balances of assets and liabilities categorized within Level 3 of the fair value hierarchy measured at fair value on a recurring basis are reconciled, as follows for the period ended May 31, 2026:

	Equity			Warrant			Contingent
	Investments			Liability			Consideration
Balance, May 31, 2025	$	8,160		$	(1,092	)	$	(15,000	)
Unrealized gain (loss) on fair value		(3,796	)		(3,495	)		15,000
Instruments exercised		—			4,587			—
Balance, May 31, 2026	$	4,364		$	—		$	—

													*APHA 24*
	*Convertible*			*Equity*			*Warrant*			*Contingent*			*Convertible*
	*notes receivable*			*Investments*			*Liability*			*Consideration*			*Debt*
Balance, May 31, 2024	$	32,000		$	5,500		$	(3,253	)	$	(15,000	)	$	(330	)
Additions/(Repayments)		(12,000	)		8,160			—			—			330
Unrealized gain (loss) on fair value		—			(5,500	)		2,161			—			—
Impairments		(20,000	)		—			—			—			—
Balance, May 31, 2025	$	—		$	8,160		$	(1,092	)	$	(15,000	)	$	—

The unrealized gain (loss) on assets and liabilities categorized within Level 3 of the fair value hierarchy are recognized in the consolidated statements of loss and comprehensive loss using the following inputs:

		*Significant*
	*Valuation*	*unobservable*
Financial asset / financial liability	*technique*	*input*	*Inputs*
Equity investments	Discounted cash flows	Probability of achievement	70%

Items measured at fair value on a non-recurring basis

The Company's prepayments and other current assets, long-lived assets, including property and equipment, goodwill and intangible assets are measured at fair value when there is an indicator of impairment and are recorded at fair value only when an impairment charge is recognized.

Financial risk management

The Company has exposure to the following risks from its use of financial instruments: credit; liquidity; currency rate; interest rate price; equity price risk; and capital management risk.

(a)

Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The maximum credit exposure at May 31, 2026, is the carrying amount of cash and cash equivalents, accounts receivable, prepaids and other current assets. All cash and cash equivalents are placed with major financial institutions in Canada, Australia, Portugal, Germany, Colombia, Argentina, United Kingdom and the United States. To date, the Company has not experienced any losses on its cash deposits. Accounts receivable are unsecured, and the Company does not require collateral from its customers.

The Company evaluates the collectability of its accounts receivable and maintains an allowance for credit losses at an amount sufficient to absorb losses inherent in the existing accounts receivable portfolio as of the reporting dates based on the estimate of expected net credit losses.

Trade receivables included an allowance for doubtful accounts and credit loss provision of $3,156 as of May 31, 2026 (2025-$3,702) and are broken out below as follows:

	*Total*			*0-30 days*			*31-60 days*			*61-90 days*			*90+ days*
Accounts receivable, net	$	189,170		$	128,759		$	23,833		$	27,480		$	9,098
		100	%		68	%		13	%		15	%		5	%

	*Balance at the beginning of period*		Movement during the year⁽¹⁾			*Balance at end of period*
Fiscal year ended May 31, 2026
Allowance for doubtful accounts and credit loss provision	$	3,702	$	(546	)	$	3,156
Fiscal year ended May 31, 2025
Allowance for doubtful accounts and credit loss provision		7,714		(4,012	)		3,702
Fiscal year ended May 31, 2024
Allowance for doubtful accounts and credit loss provision		6,641		1,073			7,714

(1)

Included in movements for the period is the total movements for foreign exchange, additions to the provisions and utilization of the credit loss provision and allowance for doubtful accounts.

(b)

Liquidity risk

As of May 31, 2026, the Company’s financial liabilities consisted of bank indebtedness and accounts payable and accrued liabilities, which have contractual maturity dates within one-year, as well as long-term debt and convertible debentures which have contractual maturities over the next five years.

The Company maintains a minimum deposit on certain cash operating accounts tied to loans secured by its Aphria One, SweetWater, and craft beverage facilities. The Company maintains debt service charge and leverage covenants on certain loans secured by its Aphria Diamond facilities and ABC Group that are measured quarterly. The Company believes that it has sufficient operating room with respect to its financial covenants for the next fiscal year and does not anticipate being in breach of any of its financial covenants. See Note 30, (Subsequent events) for additional details.

The Company manages its liquidity risk by reviewing its capital requirements on an ongoing basis. Based on the Company’s working capital position as of May 31, 2026, management regards liquidity risk to be low.

(c)

Currency rate risk

As of May 31, 2026, a portion of the Company’s financial assets and liabilities held in Canadian dollars and Euros consist of cash and cash equivalents, and long-term investments. The Company’s objective in managing its foreign currency risk is to minimize its net exposure to foreign currency cash flows by transacting, to the greatest extent possible, with third parties in the functional currency. The Company is exposed to currency rate risk in other comprehensive income, relating to foreign subsidiaries which operate in a foreign currency. The Company does not currently use foreign exchange contracts to hedge its exposure to its foreign currency cash flows as management has determined that this risk is not significant at this point in time.

(d)

Interest rate risk

The Company’s exposure to changes in interest rates relate primarily to the Company’s outstanding debt. The Company manages interest rate risk by restricting the type of investments and varying the terms of maturity and issuers of marketable securities. Varying the terms to maturity reduces the sensitivity of the portfolio to the impact of interest rate fluctuations.

(e)

Capital management

The Company’s objectives when managing its capital are to safeguard its ability to continue as a going concern, to meet its capital expenditures for its continued operations, and to maintain a flexible capital structure which optimizes the cost of capital within a framework of acceptable risk. The Company manages its capital structure and adjusts it in light of changes in economic conditions and the risk characteristics of the underlying assets. To maintain or adjust its capital structure, the Company may issue new shares, issue new debt, or acquire or dispose of assets. The Company is not subject to externally imposed capital requirements.

Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is reasonable. There have been no changes to the Company’s capital management approach in the year. The Company considers its cash and cash equivalents and marketable securities as capital.

Note 24 - Restructuring

12 Months Ended

May 31, 2026

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

24.

Restructuring

In connection with the execution of our acquisition strategy and strategic transactions, the Company has incurred restructuring and exit costs associated with the integration efforts of these transactions. In connection with these efforts, the Company incurred $13,113, $34,283 and $15,581 of restructuring costs for the fiscal years ended May 31, 2026, 2025 and 2024, respectively. All restructuring plans are approved at the executive level, and their associated expenses are recognized in the period in which the plan is committed.

Within the Cannabis segment, during the fiscal year ended May 31, 2026, the Company incurred restructuring expenses totaling $6,258. These charges included $4,573 associated with the restructuring of the Quebec facility to transition from vegetable cultivation to cannabis cultivation in response to increased global cannabis demand, $1,093 related to employee termination severance and benefits associated with the reorganization of the Canadian cannabis commercial function, and $221 related to the wind-down of certain non-operating entities. Additionally, the Company recognized $371 related to its Fort Collins, CO partially vacant warehouse that was previously held for sale and was divested during the fiscal year ended May 31, 2026. See Note 6 (capital assets).

Within the Beverage segment, restructuring activities primarily related to Project 420, a business optimization plan designed to consolidate production, streamline operations, and improve the Company’s cost structure. Activities under the plan included the closure and consolidation of certain brewery and related facilities, including Redhook, Terrapin, Atwater, Hop Valley, and Revolver, as well as costs incurred by the restructuring team established to execute the plan. Restructuring charges primarily consisted of employee termination benefits, facility closure and exit costs, contract and other termination costs, costs associated with SKU rationalization activities, and other costs directly associated with the execution of the plan. During the fiscal year ended May 31, 2025, the Company accrued $8,500 of restructuring charges related to these initiatives. During the fiscal year ended May 31, 2026, the related accrual was fully utilized. In addition, during the fiscal year ended May 31, 2026, the Company incurred $6,771 of additional restructuring related expenses associated with these efforts, including costs related to facility closures, production consolidation, and other activities under Project 420. The Company expects these initiatives to be substantially completed by the end of fiscal 2027.

Note 7 - Leases - Lease Related Assets and Liabilities (Details) - USD ($) $ in Thousands	May 31, 2026	Dec. 31, 2025	May 31, 2025
Finance lease, right-of-use assets	$ 117,976		$ 40,308
Operating lease, right-of-use assets	42,318	$ 22,279	22,279
Total right-of-use asset	160,294		62,587
Current portion of finance lease liabilities	5,105		1,560
Current portion of operating lease liabilities	8,252		5,381
Finance lease liabilities	119,682		44,295
Operating lease liabilities	38,473		20,630
Total lease liabilities	$ 171,512		$ 71,866

Note 27 - Commitments and Contingencies - Schedule of Commitments (Details) - USD ($) $ in Thousands	May 31, 2026	May 31, 2025
Total	$ 287,403
Total, 2026	67,079
Total, 2027	139,276
Total, 2028	50,384
Total, 2029	4,256
Total, thereafter	26,408
Material Purchase Obligations [Member]
Purchase obligations, total	59,562
Purchase obligations, 2026	48,256
Purchase obligations, 2027	9,568
Purchase obligations, 2028	551
Purchase obligations, 2029	579
Purchase obligations, thereafter	608
Capital Addition Purchase Commitments [Member]
Purchase obligations, total	663
Purchase obligations, 2026	663
Purchase obligations, 2027	0
Purchase obligations, 2028	0
Purchase obligations, 2029	0
Purchase obligations, thereafter	0
Long-term Debt, Excluding Convertible Debentures [Member]
Debt instrument	139,178	$ 164,124
Debt Instrument, 2026	18,160
Debt instrument, 2027	41,708
Debt instrument, 2028	49,833
Debt instrument, 2029	3,677
Debt instrument, thereafter	25,800
Convertible Debentures [Member]
Debt instrument	88,000
Debt Instrument, 2026	0
Debt instrument, 2027	88,000
Debt instrument, 2028	0
Debt instrument, 2029	0
Debt instrument, thereafter	$ 0

Note 26 - Non-operating (Expense) Income (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Schedule of Other Nonoperating Income (Expense) [Table Text Block]

	*For the year ended May 31,*
	*2026*			*2025*			*2024*
Change in fair value of convertible debenture payable	$	—		$	—		$	(19,736	)
Change in fair value of warrant liability		(3,495	)		2,161			(1,436	)
Foreign exchange gain (loss)		6,592			9,639			(4,086	)
(Loss) gain on long-term investments		(4,533	)		(5,550	)		(217	)
Unrealized loss on digital assets		(326	)		—			—
Other non-operating (losses) gains, net		392			4,034			(12,367	)
Total	$	(1,370	)	$	10,284		$	(37,842	)

Note 26 - Non-operating (Expense) Income (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
Other Nonoperating Gains (Losses)	$ 392	$ 4,034	$ (12,367)
Stock Issued During Period, Value, Settlement of Liability		(975)
TLRY 27 [Member]
Gain (Loss) on Extinguishment of Debt	2,047	$ 5,792
Other Nonoperating Gains (Losses)	$ 2,047
Fort Collins Facility [Member]
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Nonoperating Income (Expense)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	$ (1,800)

Note 8 - Intangible Assets- Schedule of Estimated Amortization Expense (Details) $ in Thousands	May 31, 2026 USD ($)
2027	$ 13,563
2028	13,563
2029	4,130
2030	4,130
2031	4,130
Thereafter	3,263
Total	$ 42,779

Note 1 - Description of Business

12 Months Ended

May 31, 2026

Notes to Financial Statements

Business Description and Basis of Presentation [Text Block]

1.	Description of business

Tilray Brands, Inc., a Delaware corporation (collectively, along with its subsidiaries, the “Company”, “Tilray”, “we”, “us” and “our”) is a leading global lifestyle consumer products company, which was incorporated on January 24, 2018 and is headquartered in Leamington and New York, with operations in Canada, the United States, Europe, Australia, and Latin America. Tilray’s mission is to be the trusted partner for its patients and consumers by providing them with a cultivated experience and health and wellbeing through high-quality, differentiated brands and innovative products. Focused in cannabis research, cultivation and distribution, Tilray’s production platform supports over 20 brands in over 20 countries, including beverages, comprehensive cannabis offerings, and hemp-based foods.

Award Timing Disclosure	12 Months Ended
Award Timing Disclosure	May 31, 2026
Award Tmg Disc Line Items
Award Timing MNPI Considered [Flag]	true

Note 26 - Non-operating Income (Expense) - Components of Non-operating Income (Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
Change in fair value of convertible debenture payable	$ 0	$ 0	$ (19,736)
Change in fair value of warrant liability	(3,495)	2,161	(1,436)
Foreign exchange gain (loss)	6,592	9,639	(4,086)
(Loss) gain on long-term investments	(4,533)	(5,550)	(217)
Unrealized loss on digital assets	(326)	(0)	(0)
Other non-operating (losses) gains, net	392	4,034	(12,367)
Total	$ (1,370)	$ 10,284	$ (37,842)

Note 12 - Income Taxes and Deferred Income Taxes - Reconciliation of Effective Income Tax Rate (Details) (Parentheticals)	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
Tax Jurisdiction of Domicile [Extensible Enumeration]	Income Tax Jurisdiction, Domestic Federal [Member]	Income Tax Jurisdiction, Domestic Federal [Member]	Income Tax Jurisdiction, Domestic Federal [Member]

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	May 31, 2026	May 31, 2025	May 31, 2024
Cash provided by (used in) operating activities:
Net loss	$ (105,158,000)	$ (2,181,356,000)	$ (222,404,000)
Adjustments for:
Income tax expense (recovery), net	17,098,000	(121,017,000)	(38,872,000)
Unrealized foreign exchange (gain) loss	(9,543,000)	(18,218,000)	3,756,000
Amortization	67,601,000	133,490,000	126,913,000
Loss (gain) on sale of capital assets	(509,000)	928,000	(4,198,000)
Accretion of convertible debt discount	7,914,000	10,863,000	14,459,000
Asset, Impairment Loss	0	2,096,139,000	0
Other than temporary change in fair value of convertible notes receivable	0	21,661,000	42,681,000
Unrealized loss on digital assets	326,000	0	0
Other non-cash items	1,518,000	(2,203,000)	13,626,000
Stock-based compensation	45,940,000	24,289,000	31,769,000
Loss on long-term investments	4,533,000	5,550,000	4,855,000
Loss (gain) on derivative instruments	3,495,000	(2,161,000)	21,172,000
Change in fair value of contingent consideration	(15,000,000)	0	(15,790,000)
Change in non-cash working capital:
Accounts receivable	(66,423,000)	(17,801,000)	(6,575,000)
Prepaids and other current assets	(26,898,000)	(8,264,000)	13,069,000
Inventory	(13,439,000)	(13,561,000)	(15,578,000)
Accounts payable and accrued liabilities	19,401,000	(22,938,000)	212,000
Net cash used in operating activities	(69,144,000)	(94,599,000)	(30,905,000)
Cash provided by (used in) investing activities:
Investment in capital and intangible assets	(32,987,000)	(32,917,000)	(29,249,000)
Proceeds from disposal of capital and intangible assets	3,507,000	6,824,000	8,509,000
Investment in digital assets	(1,000,000)	0	0
Sale (purchase) of marketable securities, net	29,408,000	(2,515,000)	209,715,000
Investment in long-term investments	(3,595,000)	0	0
Proceeds from long-term investments	2,566,000	0	0
Business acquisitions, net of cash acquired	(53,699,000)	(18,110,000)	(60,626,000)
Net cash provided by (used in) investing activities	(55,800,000)	(46,718,000)	128,349,000
Cash provided by (used in) financing activities:
Share capital issued, net of cash issuance costs	157,974,000	161,188,000	8,619,000
Cash paid in lieu of fractional shares	(159,000)	0	0
Proceeds from warrants	2,367,000	0	0
Proceeds from long-term debt	0	3,450,000	32,621,000
Repayment of long-term debt	(25,353,000)	(15,506,000)	(22,402,000)
Proceeds from convertible debt	0	0	21,553,000
Repayment of convertible debt	0	(330,000)	(107,330,000)
Repayment of lease liabilities	(5,429,000)	(2,900,000)	(2,900,000)
Net increase (decrease) in bank indebtedness	1,594,000	(10,852,000)	(5,348,000)
Dividend paid to NCI	0	(1,544,000)	0
Net cash provided by (used in) financing activities	130,994,000	133,506,000	(75,187,000)
Effect of foreign exchange on cash and cash equivalents	1,626,000	1,137,000	(549,000)
Net decrease in cash and cash equivalents	7,676,000	(6,674,000)	21,708,000
Cash and cash equivalents, beginning of year	221,666,000	228,340,000	206,632,000
Cash and cash equivalents, end of year	$ 229,342,000	$ 221,666,000	$ 228,340,000

Note 6 - Capital Assets - Schedule of Capital Assets (Details) - USD ($) $ in Thousands	May 31, 2026	Dec. 31, 2025	May 31, 2025
Capital assets, gross	$ 968,896		$ 804,728
Less: accumulated amortization	(288,671)		(236,295)
Total	680,225	$ 568,433	568,433
Land [Member]
Capital assets, gross	59,764		44,529
Manufacturing Facility [Member]
Capital assets, gross	464,415		407,650
Equipment [Member]
Capital assets, gross	283,778		280,585
Leasehold Improvements [Member]
Capital assets, gross	32,954		20,415
Right of Use Assets [Member]
Capital assets, gross	117,976		40,308
Construction in Progress [Member]
Capital assets, gross	$ 10,009		$ 11,241

Consolidated Statements of Financial Position (Parentheticals) - $ / shares	May 31, 2026	Dec. 31, 2025
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,416,000,000	1,416,000,000
Common stock, shares issued (in shares)	131,683,075	106,067,875
Common stock, shares outstanding (in shares)	131,683,075	106,067,875
Treasury stock (in shares)	589,217	200,422
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	10,000,000	10,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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+ Details

- Definition

The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.

+ References + Details

- Definition

Number of shares issued for nonredeemable preferred shares and preferred shares redeemable solely at option of issuer. Includes, but is not limited to, preferred shares issued, repurchased, and held as treasury shares. Excludes preferred shares classified as debt.

+ References + Details

- Definition

Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

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+ Details

Note 18 - Stockholders' Equity

12 Months Ended

May 31, 2026

Notes to Financial Statements

Equity [Text Block]

18.

Stockholders’ equity

Issued and outstanding

Pursuant to its Fifth Amended and Restated Certificate of Incorporation, the total number of shares that the Company is authorized to issue is 1,426,000,000 shares, of which 1,416,000,000 shares are Common Stock (the “Common Stock”), and 10,000,000 shares of which are Preferred Stock (the “Preferred Stock”). As of May 31, 2026, the Company had issued and outstanding 131,683,075 shares of Common Stock, 589,217 shares of Treasury Stock (the “Treasury Stock”) and no Preferred Stock. Historically, the Company has issued shares of its Common Stock in consideration for acquisitions and other strategic transactions, settlement of convertible notes, settlement of litigation claims, in connection with public offerings and as payment of dividends to non-controlling interests for profit distributions.

During the fiscal year ended May 31, 2026, the Company issued the following shares:

19,625,505 shares of Common Stock were issued pursuant to its At-the-Market (“ATM”) program, which generated gross proceeds of $161,636 and net proceeds of $157,974, after deducting $3,662 in commissions and other fees associated with these issuances.

3,138,878 shares of Common Stock were issued in the amount of $17,157 to exchange the aggregate principal of $17,000 of its TLRY 27 Notes for cancellation. Upon exchanging the TLRY 27 Notes, a portion of the settlement consideration was allocated to the equity component of the instrument and was recognized as a $4,394 reduction of additional paid-in capital. Following consummation of the exchange, the number of outstanding Borrowed Shares of Common Stock was reduced by 379,420 shares which were then returned as Treasury Stock, see Note 16 (Convertible debentures).

861,707 shares of Common Stock to settle dividends payable to the non-controlling shareholders of Aphria Diamond in the amount of $14,821.

620,900 shares of Common Stock were issued to settle exercised warrants.

20,652 shares of Common Stock were cancelled pursuant to the treatment of fractional shares in connection with the Reverse Stock Split.

398,666 shares of Common Stock were issued for Lyphe acquisition, see Note 9 (Business Acquisition)

990,196 shares of Common Stock were issued in connection with the exercise of previously awarded stock-based compensation awards, net of cancellations.

In aggregate, during the year ended May 31, 2026, 379,420 shares were returned in connection with the share lending agreement related to the TLRY 27 Notes which were recorded as Treasury stock.

All current and prior year share amounts have been retrospectively adjusted to reflect the Reverse Stock Split, which became effective on December 2, 2025, see Note 2 (Basis of preparation).

Stock-based compensation

The Company maintains stock-based compensation plans as disclosed in our Annual Financial Statements. For the fiscal year ended May 31, 2026, the total stock-based compensation was $45,940. For the fiscal years ended May 31, 2025 and May 31, 2024, the total stock-based compensation was $24,289 and $31,769, respectively.

During the fiscal year-ended May 31, 2026, the Company granted 4,562,669 time-based RSUs, and nil performance-based RSUs. For the fiscal year ended May 31, 2025, the Company granted 1,350,513 time-based RSUs and nil performance-based RSUs.

During the fiscal year ended May 31, 2024, the Company issued (i) 756,615 performance‑based restricted stock units (the “Performance‑Based RSUs”) and (ii) additional performance‑based awards payable in cash or, at the discretion of the Company’s Compensation Committee, in shares of the Company’s common stock (the “Performance‑Based Elective Settlement Award,” and together with the Performance‑Based RSUs, the “Performance‑Based Awards”). The Performance‑Based Awards were not considered granted for accounting purposes at the time of issuance because the applicable performance conditions had not yet been established or approved. Accordingly, no compensation expense was recognized within the Consolidated Statements of Loss at that time. During the period from issuance through the fiscal year-ended May 31, 2026, the number of outstanding Performance‑Based RSUs was reduced from 756,615 to 744,117 as a result of employee attrition, and the Performance‑Based Elective Settlement Awards were also correspondingly reduced.

In September 2025, the Company established and approved the relevant performance conditions for the Performance‑Based Awards and, as a result, the awards were considered granted for accounting purposes. Beginning in the quarter ended November 30, 2025, the Company commenced recognition of stock‑based compensation expense based on the grant‑date fair value of the Performance‑Based Awards, which is being recognized over the remaining requisite service period. The Company currently expects the Performance‑Based Elective Settlement Award to be settled in shares of common stock. Moreover, because the Performance‑Based Elective Settlement Award has a fixed monetary value and is settleable in a variable number of shares, it is classified as a liability within the statement of Financial Position. The Performance‑Based RSUs are classified as equity awards and are reflected within stockholders’ equity.

The Company operates multiple stock-based award plans as follows:

Tilray 2018 Equity Incentive Plan and Original Plan

The 2018 Equity Incentive Plan (EIP) authorizes the award of stock options, restricted stock units (“RSUs”) and stock appreciation rights (“SARs”) to employees, including officers, non-employee directors and consultants and the employees and consultants of our affiliates. Shares subject to awards granted under the EIP that expire or terminate without being exercised in full, or that are paid out in cash rather than in shares, do not reduce the number of shares available for issuance under the EIP. Additionally, shares become available for future grant under the EIP if they were issued under the EIP and if the Company repurchases them or they are forfeited. This includes shares used to pay the exercise price of an award or to satisfy the tax withholding obligations related to an award. The maximum number of shares of common stock subject to stock awards granted under the EIP or otherwise during any one calendar year to any non-employee director, taken together with any cash fees paid by the Company to such non-employee director during such calendar year for service on the Board of Directors, will not exceed five hundred thousand dollars in total value, calculating the value of any such stock awards based on the grant date fair value of such stock awards for financial reporting purposes, or, with respect to the calendar year in which a nonemployee director is first appointed or elected to our Board of Directors, one million dollars.

Stock options represent the right to purchase shares of our common stock on the date of exercise at a stated exercise price. The exercise price of a stock option generally must be at least equal to the fair market value of our shares of common stock on the date of grant. The Company’s compensation committee may provide for stock options to be exercised only as they vest or to be immediately exercisable with any shares issued on exercise being subject to the Company’s right of repurchase that lapses as the shares vest. The maximum term of stock options granted under the EIP is ten years.

RSUs represent a right to receive common stock or their cash equivalent for each RSU that vests, which vesting may be based on time or achievement of performance conditions. Unless otherwise determined by our compensation committee at the time of grant, vesting will cease on the date the participant no longer provides services to the Company and unvested shares will be forfeited. If an RSU has not been forfeited, then on the date specified in the RSUs, the Company will deliver to the holder a number of whole shares of common stock, cash or a combination of shares of our common stock and cash. Additionally, dividend equivalents may be credited in respect of shares covered by the RSUs. Any additional shares covered by the RSU credited by reason of such dividend equivalents will be subject to all of the same terms and conditions of the underlying RSU agreement to which they relate. The RSUs generally vest over a 3-or-4 year period. The fair value of RSUs are based on the share price as at date of grant.

SARs provide for a payment, or payments, in cash or shares of common stock to the holder based upon the difference between the fair market value of shares of our common stock on the date of exercise and the stated exercise price. The maximum term of SARs granted under the EIP is ten years. No SARs were issued to date.

The EIP permits the grant of performance-based stock and cash awards. The performance goals may be based on Company-wide performance or performance of one or more business units, divisions, affiliates or business segments and may be either absolute or relative to the performance of one or more comparable companies or the performance of one or more relevant indices. The length of any performance period, the performance goals to be achieved during the performance period, and the measure of whether and to what degree such performance goals have been attained will be conclusively determined by the Board of Directors.

In conjunction with the reverse acquisition with Aphria Inc on April 30, 2021, 980,685 shares of common stock had been reserved for issuance under the EIP. The number of shares of common stock reserved for issuance under the 2018 EIP will automatically increase on January 1 of each calendar year, for a period of not more than ten years, starting on January 1, 2019 and ending on and including January 1, 2027, in an amount equal to 4% of the total number of shares of our common stock outstanding on December 31 of the prior calendar year, or a lesser number of shares determined by our Board of Directors. The shares reserved include only the outstanding shares related to stock options and RSUs and excludes stock options outstanding under the Original Plan.

Certain employees and other service providers of the Company participate in the equity-based compensation plan of Privateer Holdings, Inc (the “Original Plan”) under the terms and valuation method detailed below. The expected life of the stock options represented the period of time stock options were expected to be outstanding and was estimated considering vesting terms and employees’ historical exercise and post-vesting employment termination behavior. Expected volatility was based on historical volatilities of public companies operating in a similar industry to Privateer Holdings. The risk-free rate is based on the United States Treasury yield curve in effect at the time of grant. The expected dividend yield was determined based on the stock option’s exercise price and expected annual dividend rate at the time of grant.

No stock options were granted under the EIP during the fiscal years ended May 31, 2026 and 2025.

Stock-based activity under the EIP and Original Plan for the fiscal year ended May 31, 2026 is as follows:

EIP Time-based stock option activity
					*Weighted-*
			*Weighted-*		*average*
			*average*		*remaining*
	*Stock*		*exercise*		*contractual*		*Aggregate*
	*Options*		*price*		*term (years)*		*intrinsic value*
Balance, May 31, 2025		278,603	$	145.54		3.0	$	—
Granted		—		—		—		—
Exercised		—		—		—		—
Forfeited		—		—		—		—
Cancelled		—		—		—		—
Balance, May 31, 2026		278,603	$	145.54		2.0	$	—

Original plan time-based stock option activity
					*Weighted-*
			*Weighted-*		*average*
			*average*		*remaining*
	*Stock*		*exercise*		*contractual*		*Aggregate*
	*Options*		*price*		*term (years)*		*intrinsic value*
Balance, May 31, 2025		1,296	$	47.66		2.6	$	—
Exercised		—		—		—		—
Forfeited		—		—		—		—
Cancelled		—		—		—		—
Balance, May 31, 2026		1,296	$	47.66		1.6	$	—

Time-based and Performance-based RSU activity
				*Weighted-*		*Weighted-*
				*average*		*average*
				*grant-date*		*remaining*
	*Time-based*			*fair value*		*contractual*		*Aggregate*
	*RSUs*			*per share*		*term (years)*		*intrinsic value*
Balance, May 31, 2025		2,770,571		$	26.05		2.9	$	11,794
Granted		4,562,669			5.94		—		28,214
Vested		(1,249,757	)		20.84		—		(6,886	)
Forfeited		(192,922	)		10.73		—		(1,133	)
Cancelled		(82,241	)		115.15		—		(55	)
Balance, May 31, 2026		5,808,320		$	10.62		0.9	$	31,934

Predecessor Plan - Aphria

Aphria had established the Aphria Omnibus Incentive Plan (the “Aphria Predecessor Plan”). Following stockholder approval of the EIP, no new awards have been granted under the Aphria Predecessor Plan. In connection with the reverse acquisition Aphria stock options, Aphria RSUs and DSUs issued under the Predecessor Plan were exchanged for options, RSUs under the EIP. As a result of the modification, all grantees were affected, and the Company recognized nil incremental compensation cost.

No stock options were granted under the Aphria Predecessor Plan during the fiscal years ended May 31, 2026 and 2025. As of May 31, 2026, there were 4,523 awards outstanding and which are vested and exercisable.

Stock option, RSU and DSU activity for the Company under the Predecessor Plan is as follows:

Time-based stock option activity

					*Weighted*		*Weighted*
			*Weighted*		*average*		*average*
			*average*		*grant*		*remaining*		*Aggregate*
	*Number of*		*exercise*		*date fair*		*contractual*		*Intrinsic*
	*options*		*price*		*value*		*term (years)*		*Amount*
Outstanding, beginning of the year		4,523	$	91.20	$	—		2.53	$	—
Exercised during the year		—		—		—		—		—
Granted during the year		—		—		—		—		—
Forfeited during the year		—		—		—		—		—
Expired during the year		—		—		—		—		—
Outstanding, end of the year		4,523	$	91.20	$	—		1.53	$	—
Vested and exercisable, end of the year		4,523	$	91.20	$	—		1.53	$	—

Time-based and Performance-based DSU activity

	*May 31, 2026*
			*Weighted*
			*average*
			*grant -*
			*date fair*
	*Time-based*		*value per*
	*DSUs*		*share*
Non-vested, beginning of the year		21,092	$	160.32
Granted during the year		—		—
Vested during the year		—		—
Forfeited during the year		—		—
Non-vested, end of the year		21,092	$	160.32

Predecessor Plan - HEXO

Prior to the acquisition of HEXO Corp, HEXO had established the Formal Plan and Omnibus Incentive Plan (the “HEXO Predecessor Plan”). In connection with the acquisition, HEXO stock options issued under these plans were exchanged at a rate of 4.352 for 126,779 options under the Tilray 2018 EIP. As a result of the modification, all grantees were affected, and the Company recognized nil incremental compensation cost. Following stockholder approval of the EIP, no new awards have been granted under the Predecessor Plan. As of May 31, 2026, 18,717 awards are outstanding and 18,717 are vested and exercisable.

	*May 31, 2026*
					*Weighted*		*Weighted*
			*Weighted*		*average*		*average*
			*average*		*grant*		*remaining*		*Aggregate*
	*Number of*		*exercise*		*date fair*		*contractual*		*Intrinsic*
	*options*		*price*		*value*		*term (years)*		*Amount*
Outstanding, beginning of the year		18,717	$	2,345.31	$	—		5.84	$	—
Exercised during the year		—		—		—		—		—
Converted upon acquisition		—		—		—		—		—
Forfeited during the year		—		—		—		—		—
Expired during the year		—		—		—		—		—
Outstanding, end of the year		18,717	$	2,345.31	$	—		4.81	$	—
Vested and exercisable, end of the year		18,717	$	2,345.31	$	—		4.81	$	—

All current and prior year share amounts have been retrospectively adjusted to reflect the Reverse Stock Split, which became effective on December 2, 2025.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Note 16 - Convertible Debentures Payable

12 Months Ended

May 31, 2026

Notes to Financial Statements

Convertible Debentures [Text Block]

16.

Convertible debentures payable

The following table sets forth the net carrying amount of the convertible debentures:

	*May 31,*		*May 31,*
	*2026*		*2025*
5.20% Convertible Notes ("TLRY 27")	$	79,529	$	86,428
Deduct - current portion		—		—
Total convertible debentures payable, non current portion	$	79,529	$	86,428

TLRY 27

	*May 31,*			*May 31,*
	*2026*			*2025*
5.20% Contractual debenture	$	172,500		$	172,500
Debt settlement		(84,500	)		(67,500	)
Unamortized discount		(8,471	)		(18,572	)
Net carrying amount	$	79,529		$	86,428

The TLRY 27 convertible debentures were issued on May 30, 2023 and on June 9, 2023 by way of overallotment, in the principal amount of $172,500 (the “TLRY 27 Notes”). The TLRY 27 Notes bear interest at a rate of 5.20% per annum, payable semi-annually in arrears on June 15 and December 15 of each year, and mature on June 15, 2027, unless earlier converted. The TLRY 27 Notes are Tilray’s general unsecured obligations and rank senior in right of payment to all of Tilray’s indebtedness that is expressly subordinated in right of payment to the notes; equal in right of payment with any of Tilray’s unsecured indebtedness that is not so subordinated, effectively junior in right of payment to any of Tilray’s secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities (including trade payables but excluding intercompany obligations) of Tilray’s current or future subsidiaries. Noteholders have the right to convert their TLRY 27 Notes into shares of Tilray’s Common Stock at their option, at any time, until the close of business on the second scheduled trading day immediately before June 15, 2027. The initial conversion rate is approximately 37.66 shares per $1,000 principal amount of TLRY 27 Notes, which represents a conversion price of approximately $26.55 per share. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events.

The TLRY 27 Notes are redeemable, in whole and not in part, at Tilray’s option at any time on or after June 20, 2025 at a cash redemption price equal to the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, but only if the last reported sale price of Tilray’s Common Stock exceeds 130% of the conversion price for a specified period of time. If certain corporate events that constitute a fundamental change occur, then, subject to a limited exception, noteholders may require Tilray to repurchase their TLRY 27 Notes for cash. The repurchase price will be equal to the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date. In connection with the Company’s offering of the TLRY 27 Notes, the Company entered into a share lending agreement with an affiliate of Jefferies LLC (the “Share Borrower”), pursuant to which it lent to the Share Borrower 3,850,000 shares of the Company’s Common Stock (the “Borrowed Shares”). The Borrowed Shares were newly-issued shares, will be held as treasury shares until the expiration or early termination of the share lending agreement and may be used by purchasers of the TLRY 27 Notes to sell up to 3,850,000 shares of the Company’s Common Stock. The fair value of the share lending agreement has been recorded as part of the unamortized discount on the debenture. The Company expects that the selling stockholders will use their position created by such sales to establish their initial hedge with respect to their investments in the TLRY 27 Notes. The Company did not receive any proceeds from the sale of the Borrowed Shares.

During the fiscal year ended May 31, 2026, the Company exchanged an aggregate $17,000 of its TLRY 27 Notes for cancellation, by issuing 3,138,878 shares of Common Stock and paying $208 in cash to settle accrued interest. Upon exchanging the TLRY 27 Notes, a portion of the settlement consideration was allocated to the equity component of the instrument and was recognized as a $4,394 reduction of additional paid-in capital in the Consolidated Statements of Stockholders’ Equity. Additionally, this repurchase resulted in a gain of $2,047 which was recorded in other non-operating (losses) gains, net as shown in Note 26 (Non-operating income (expense)). Following consummation of the exchange, the number of outstanding Borrowed Shares of Common Stock was reduced by 379,420 shares which were then returned as Treasury Stock. As of May 31, 2026 and May 31, 2025, a total of 1,964,058 and 2,434,378 shares remained outstanding under the share lending arrangement, respectively. Current and prior year share amounts have been retrospectively adjusted to reflect the Reverse Stock Split, which became effective on December 2, 2025, see Note 2 (Basis of preparation).

During the fiscal year ended May 31, 2026, the Company recognized interest expense of $5,138 and accretion of amortized discount interest of $7,914. For the same periods in the prior year Company recognized interest expense of $7,775 and accretion of amortized discount interest of $10,863.

As of May 31, 2026, there was $88,000 principal outstanding compared to $105,000 principal outstanding as of May 31, 2025 under the TLRY 27 Notes. See Note 30 (Subsequent events) for additional transactions after the period.

Note 8 - Intangible Assets

12 Months Ended

May 31, 2026

Notes to Financial Statements

Intangible Asset [Text Block]

8.	Intangible assets

Intangible assets are comprised of the following:

	*Customer relationships & distribution channel*			*Licenses, permits & applications*			*Intellectual property, trademarks, knowhow & brands*			*May 31,*
										*2026*
Cost	$	6,793		$	24,573		$	26,633		$	57,999
Accumulated amortization		(264	)		(5,707	)		(9,249	)		(15,220	)
Total	$	6,529		$	18,866		$	17,384		$	42,779

As of May 31, 2026, the Company also has the following intangible assets which have been fully impaired; $444,208 of customer relationships and distribution channels, $367,022 of licenses, permits and applications, and $452,530 of intellectual property, trademarks, know-how and brands.

	*Customer relationships & distribution channel*			*Licenses, permits & applications*			*Non-compete agreements*			*Intellectual property, trademarks, knowhow & brands*			*May 31,*
													*2025*
Cost	$	610,240		$	387,238		$	12,449		$	618,514		$	1,628,441
Accumulated amortization		(166,032	)		(9,693	)		(12,449	)		(155,084	)		(343,258	)
Accumulated impairment losses		(444,208	)		(367,022	)		—			(452,530	)		(1,263,760	)
Total	$	—		$	10,523		$	—		$	10,900		$	21,423

As of May 31, 2026, included in licenses, permits & applications are multi-period sponsorship rights of $18,783 and $nil of indefinite-lived intangible assets compared to $15,047 and $nil as of May 31, 2025, respectively. See Note 3 (Significant accounting policies) for additional details.

The Company’s indefinite-lived intangible assets were fully impaired in prior periods and had no remaining carrying value as of May 31, 2026. The Company performed the annual impairment test on its finite-lived intangible assets, management assessed for asset specific indicators of impairment during the fourth quarter ended May 31, 2026, and determined there were no impairments to finite-lived intangible assets during the year ended May 31, 2026.

During the fiscal year ended May 31, 2025, the Company recorded non-cash impairments of $334,207 related to its finite-lived customer relationships & distribution channel, $186,649 related to its licenses, permits & applications, which were considered indefinite-lived intangible assets and $327,059 related to its finite-lived intellectual property, trademarks, knowhow & brands. This impairment charge resulted in a corresponding income tax recovery of $121,436, resulting in the corresponding reduction in deferred tax liabilities. In calculating the impairment charge, using an income approach, the Company used a discount rate of 10.00%-14.50%, a terminal growth rate of 2%, and an average revenue growth rate of 5%-30% over 5 years to correlate with the cash flows anticipated with the individual intangible assets that were assessed. A reasonably possible change in any of the inputs within the determination of fair value would not result in a material change to the impairment recorded.

During the fiscal year ended May 31, 2024, there were no impairments to indefinite-lived intangible assets.

Estimated amortization expense for each of the five succeeding fiscal years and thereafter is as follows:

	*Amortization*
2027	$	13,563
2028		13,563
2029		4,130
2030		4,130
2031		4,130
Thereafter		3,263
Total	$	42,779

Note 17 - Warrant Liability

12 Months Ended

May 31, 2026

Notes to Financial Statements

Warrants [Text Block]

17.

Warrant Liability

Between September 5, 2025 and September 15, 2025, certain holders elected to exercise an aggregate of 620,900 of the Company’s issued and outstanding warrants in accordance with their terms. Pursuant to the exercise of such warrants, Tilray received $2,367 of cash consideration and issued 620,900 shares of common stock to such holders. As of May 31, 2026 and May 31, 2025, there were nil and 620,900 warrants outstanding, respectively. Current and prior year share amounts have been retrospectively adjusted to reflect the Reverse Stock Split, which became effective on December 2, 2025, See Note 2 (Basis of presentation).

Note 14 - Accounts Payable and Accrued Liabilities - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	May 31, 2026	Dec. 31, 2025	May 31, 2025
Trade payables	$ 114,538		$ 107,348
Accrued liabilities	135,906		103,260
Litigation accrual	11,931		12,431
Accrued payroll and employment related taxes	20,013		1,436
Income taxes payable	12,667		58
Accrued interest	3,258		4,193
Sales taxes payable	19,775		6,596
Total	$ 318,088	$ 235,322	$ 235,322

Consolidated Statements of Changes in Equity - USD ($)

HEXO Acquisition [Member]

Common Stock [Member]

HEXO Acquisition [Member]

Treasury Stock, Common [Member]

HEXO Acquisition [Member]

Additional Paid-in Capital [Member]

HEXO Acquisition [Member]

AOCI Attributable to Parent [Member]

HEXO Acquisition [Member]

Retained Earnings [Member]

HEXO Acquisition [Member]

Noncontrolling Interest [Member]

HEXO Acquisition [Member]

Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member]

Common Stock [Member]

Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member]

Treasury Stock, Common [Member]

Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member]

Additional Paid-in Capital [Member]

Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member]

AOCI Attributable to Parent [Member]

Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member]

Retained Earnings [Member]

Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member]

Noncontrolling Interest [Member]

Tilray Brands Inc MediPharm / HEXO Litigation Settlement [Member]

TLRY 23 [Member]

Common Stock [Member]

TLRY 23 [Member]

Treasury Stock, Common [Member]

TLRY 23 [Member]

Additional Paid-in Capital [Member]

TLRY 23 [Member]

AOCI Attributable to Parent [Member]

TLRY 23 [Member]

Retained Earnings [Member]

TLRY 23 [Member]

Noncontrolling Interest [Member]

TLRY 23 [Member]

APHA 24 [Member]

Common Stock [Member]

APHA 24 [Member]

Treasury Stock, Common [Member]

APHA 24 [Member]

Additional Paid-in Capital [Member]

APHA 24 [Member]

AOCI Attributable to Parent [Member]

APHA 24 [Member]

Retained Earnings [Member]

APHA 24 [Member]

Noncontrolling Interest [Member]

APHA 24 [Member]

TLRY 27 [Member]

Common Stock [Member]

TLRY 27 [Member]

Treasury Stock, Common [Member]

TLRY 27 [Member]

Additional Paid-in Capital [Member]

TLRY 27 [Member]

AOCI Attributable to Parent [Member]

TLRY 27 [Member]

Retained Earnings [Member]

TLRY 27 [Member]

Noncontrolling Interest [Member]

TLRY 27 [Member]

Settlement of TLRY 23 Convertible Note With Share Issuance [Member]

Common Stock [Member]

Settlement of TLRY 23 Convertible Note With Share Issuance [Member]

Treasury Stock, Common [Member]

^[1]

Settlement of TLRY 23 Convertible Note With Share Issuance [Member]

Additional Paid-in Capital [Member]

Settlement of TLRY 23 Convertible Note With Share Issuance [Member]

AOCI Attributable to Parent [Member]

Settlement of TLRY 23 Convertible Note With Share Issuance [Member]

Retained Earnings [Member]

Settlement of TLRY 23 Convertible Note With Share Issuance [Member]

Noncontrolling Interest [Member]

Settlement of TLRY 23 Convertible Note With Share Issuance [Member]

At-the-Market Program [Member]

Common Stock [Member]

At-the-Market Program [Member]

Treasury Stock, Common [Member]

At-the-Market Program [Member]

Additional Paid-in Capital [Member]

At-the-Market Program [Member]

AOCI Attributable to Parent [Member]

At-the-Market Program [Member]

Retained Earnings [Member]

At-the-Market Program [Member]

Noncontrolling Interest [Member]

At-the-Market Program [Member]

Common Stock [Member]

Treasury Stock, Common [Member]

Additional Paid-in Capital [Member]

AOCI Attributable to Parent [Member]

Retained Earnings [Member]

Noncontrolling Interest [Member]

Total

Balance (in shares) at May. 31, 2023

65,665,546

Balance at May. 31, 2023

$ 66,000

$ 0

^[1]

$ 5,777,743,000

$ (46,610,000)

$ (2,415,507,000)

$ 14,251,000

$ 3,329,943,000

Share issuance (in shares)

3,970,596

Share issuance

$ 4,000

$ 0

^[1]

$ 65,158,000

$ 0

$ 65,162,000

Share issuance - acquisition settlement (in shares)

86,543

Share issuance - acquisition settlement

$ 0

^[1]

1,500,000

Share issuance - Double Diamond Holdings dividend settlement (in shares)

2,478,099

Share issuance - Double Diamond Holdings dividend settlement

$ 2,000

$ 0

^[1]

47,702,000

(26,217,000)

21,487,000

Share issuance - convertible note (in shares)

1,818,116

Share issuance - convertible note

$ 2,000

$ 0

^[1]

52,311,000

52,313,000

Shares effectively repurchased for employee withholding tax

^[1]

(4,860,000)

Equity component related to issuance of convertible debt, net of issuance costs

$ 0

^[1]

3,953,000

Share issuance - Settlement of litigation claims from MediPharm Labs Inc (in shares)

157,315

Share issuance - Settlement of litigation claims from MediPharm Labs Inc

$ 0

^[1]

$ 3,477,000

$ 0

$ 3,477,000

Share issuance - Repurchase of convertible note (in shares)

700,000

7,348,415

Share issuance - Repurchase of convertible note

$ 1,000

$ 0

^[1]

$ 20,457,000

$ 0

$ 20,458,000

$ 8,000

$ 0

^[1]

$ 140,653,000

$ 0

$ 140,661,000

Share issuance - Settlement of equity component of convertible note

$ 0

$ (1,672,000)

$ 0

$ (1,672,000)

Share issuance - At-the-Market (“ATM”) program (in shares)

532,784

Share issuance - At-the-Market (“ATM”) program

$ 0

^[1]

$ 8,619,000

$ 0

$ 8,619,000

Share issuance - options exercised (in shares)

429

Share issuance - options exercised

$ 0

^[1]

Share issuance - RSUs exercised (in shares)

434,695

Share issuance - RSUs exercised

$ 0

^[1]

Stock-based compensation

^[1]

31,769,000

Dividends declared to non-controlling interests

^[1]

(10,349,000)

Net comprehensive (loss) income

^[1]

3,111,000

(244,981,000)

22,587,000

(219,283,000)

Share issuance - Settlement of TLRY 27 convertible note

$ 2,000

^[1]

52,311,000

52,313,000

Balance (in shares) at May. 31, 2024

83,192,538

Balance at May. 31, 2024

$ 83,000

$ 0

^[1]

6,146,810,000

(43,499,000)

(2,660,488,000)

272,000

3,443,178,000

Share issuance - Double Diamond Holdings dividend settlement (in shares)

1,321,759

Share issuance - Double Diamond Holdings dividend settlement

$ 1,000

$ 0

^[1]

23,823,000

(25,368,000)

(1,544,000)

Share issuance - convertible note

$ 0

^[1]

$ (19,028,000)

$ 0

$ (19,028,000)

Shares effectively repurchased for employee withholding tax

$ 0

^[1]

(2,661,000)

Share issuance - Repurchase of convertible note (in shares)

7,175,505

(781,159)

Share issuance - Repurchase of convertible note

$ 7,000

$ 0

^[1]

67,251,000

67,258,000

Share issuance - At-the-Market (“ATM”) program (in shares)

13,593,874

Share issuance - At-the-Market (“ATM”) program

$ 14,000

^[1]

161,174,000

$ 161,188,000

Share issuance - options exercised (in shares)

1,548

Share issuance - options exercised

$ 0

^[1]

Share issuance - RSUs exercised (in shares)

782,651

Share issuance - RSUs exercised

$ 1,000

$ 0

^[1]

(1,000)

Stock-based compensation

^[1]

24,289,000

Net comprehensive (loss) income

^[1]

436,000

(2,186,738,000)

5,376,000

(2,180,926,000)

Share issuance - At-the-Market (“ATM”) program

$ 580,737

Share issuance - Settlement of TLRY 27 convertible note

^[1]

(19,028,000)

Disposal of SH Acquisition non-controlling interests

$ 0

^[1]

(2,179,000)

Balance (in shares) at May. 31, 2025

106,067,875

Balance at May. 31, 2025

$ 106,000

$ 0

^[1]

6,401,657,000

(43,063,000)

(4,847,226,000)

(21,899,000)

1,489,575,000

Balance (in shares) at May. 31, 2025

(200,422)

Share issuance (in shares)

398,666

Share issuance

$ 0

^[1]

2,795,000

$ 2,795,000

Share issuance - Double Diamond Holdings dividend settlement (in shares)

861,707

Share issuance - Double Diamond Holdings dividend settlement

$ 1,000

$ 0

^[1]

14,821,000

(15,182,000)

$ (360,000)

Share issuance - convertible note

$ 0

^[1]

(4,394,000)

$ (4,394,000)

Shares effectively repurchased for employee withholding tax

$ 0

^[1]

(1,427,000)

Share issuance - Repurchase of convertible note (in shares)

3,138,878

(379,420)

3,138,878

Share issuance - Repurchase of convertible note

$ 3,000

$ 0

^[1]

17,157,000

$ 17,157,000

Share issuance - At-the-Market (“ATM”) program (in shares)

19,625,505

Share issuance - At-the-Market (“ATM”) program

$ 20,000

$ 0

^[1]

$ 157,954,000

$ 0

$ 157,974,000

Share issuance - RSUs exercised (in shares)

990,196

(9,375)

Share issuance - RSUs exercised

$ 1,000

$ 0

^[1]

(1,000)

Stock-based compensation

^[1]

31,699,000

Net comprehensive (loss) income

$ 0

^[1]

(1,170,000)

(121,397,000)

17,616,000

$ (104,951,000)

Share issuance - Settlement of TLRY 27 convertible note

$ 0

^[1]

$ (4,394,000)

$ 0

$ (4,394,000)

Share issuance - Warrant exercised (in shares)

620,900

Share issuance - Warrant exercised

$ 1,000

$ 0

^[1]

6,954,000

$ 6,955,000

Fractional shares cancelled pursuant to Reverse Stock Split (in shares)

(20,652)

Fractional shares cancelled pursuant to Reverse Stock Split

$ 0

^[1]

(159,000)

$ (159,000)

Balance (in shares) at May. 31, 2026

131,683,075

Balance at May. 31, 2026

$ 132,000

$ 0

^[1]

$ 6,627,056,000

$ (44,233,000)

$ (4,968,623,000)

$ (19,465,000)

$ 1,594,867,000

Balance (in shares) at May. 31, 2026

(589,217)

589,217

[1]	Current and prior year share amounts have been retrospectively adjusted to reflect the Reverse Stock Split (as defined below), which became effective on December 2, 2025. See Note 2 (Basis of preparation).

Note 7 - Leases - Schedule of Maturity (Details) $ in Thousands	May 31, 2026 USD ($)
2027, operating	$ 16,724
2027, finance	19,067
2028, operating	15,588
2028, finance	19,067
2029, operating	10,236
2029, finance	18,919
2030, operating	6,671
2030, finance	18,683
Thereafter, operating	13,200
Thereafter, finance	148,357
Total minimum lease payments, operating	62,419
Total minimum lease payments, finance	224,093
Imputed interest, operating	(15,694)
Imputed interest, finance	(99,306)
Obligations recognized, operating	46,725
Obligations recognized, finance	$ 124,787

Note 10 - Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Thousands	May 31, 2026	Dec. 31, 2025	May 31, 2025
Cannabis Goodwill			$ 2,843,399
Accumulated impairment losses			(2,090,654)
Total	$ 752,350	$ 752,350	752,350
Goodwill			2,843,399
Effect of foreign exchange			(395)
Cannabis Segment [Member]
Cannabis Goodwill	2,640,669		2,640,669
Accumulated impairment losses	(1,888,319)		(1,897,431)
Total	752,350		752,350
Goodwill	$ 2,640,669		2,640,669
Effect of foreign exchange			9,112
Beverage Segment [Member]
Cannabis Goodwill			120,802
Accumulated impairment losses			(120,802)
Total			0
Goodwill			120,802
Effect of foreign exchange			0
Wellness Business [Member]
Cannabis Goodwill			77,470
Accumulated impairment losses			(68,186)
Total			0
Goodwill			77,470
Effect of foreign exchange			(9,284)
Distribution Business [Member]
Cannabis Goodwill			4,458
Accumulated impairment losses			(4,235)
Total			0
Goodwill			4,458
Effect of foreign exchange			$ (223)

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-41

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-8

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 6
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-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 8: http://www.xbrl.org/2003/role/exampleRef
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-SubTopic 740
-Name Accounting Standards Codification
-Section 55
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478064/805-740-55-13

Reference 9: http://www.xbrl.org/2003/role/exampleRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 39
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479303/805-10-55-39

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

+ Details

Note 23 - General and Administrative Expenses

12 Months Ended

May 31, 2026

Notes to Financial Statements

General and Administrative Expenses [Text Block]

23.

General and administrative expenses

General and administrative expenses are comprised of the following items:

	*For the year ended May 31,*
	*2026*			*2025*		*2024*
Salaries and wages	$	91,448		$	88,015	$	83,673
Office and general		42,171			28,314		28,460
Stock-based compensation		45,940			24,289		31,769
Insurance		9,792			11,843		12,586
Professional fees		4,238			4,765		5,345
(Gain) loss on sale of capital assets		(509	)		928		(4,198	)
Travel and accommodation		5,569			5,717		5,138
Rent		4,980			3,453		4,585
Total	$	203,629		$	167,324	$	167,358

Included in (Gain) loss on sale of capital assets for the fiscal year ended May 31, 2025, was a loss of $1,787 related to the sale of the Avanti facility, which was closed as part of our restructuring efforts during the fiscal year ended May 31, 2025.

Note 6 - Capital Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025
Asset, Held-for-Sale, Not Part of Disposal Group	$ 2,449	$ 5,800
Beverage Units [Member] \| Atwater Brewery [Member]
Asset, Held-for-Sale, Not Part of Disposal Group	2,449
Duncan, Quebec, and Fort Collins Facilities [Member] \| Broken Coast Cannabis Ltd. [Member]
Asset, Held-for-Sale, Not Part of Disposal Group		5,800
Manufacturing Facility [Member]
Impairment, Long-Lived Asset, Held-for-Use	$ 0	$ 0

Note 21 - Net Revenue (Tables)

12 Months Ended

May 31, 2026

Notes Tables

Disaggregation of Revenue [Table Text Block]

	*For the year ended May 31,*
	*2026*			*2025*			*2024*
Beverage revenue	$	265,457		$	253,181		$	213,614
Beverage excise taxes		(11,481	)		(12,586	)		(11,520	)
Net beverage revenue		253,976			240,595			202,094
Cannabis revenue		352,306			330,609			370,692
Cannabis excise taxes		(83,964	)		(81,608	)		(97,894	)
Net cannabis revenue		268,342			249,001			272,798
Distribution revenue		327,244			271,228			258,740
Wellness revenue		65,892			60,485			55,310
Total	$	915,454		$	821,309		$	788,942

Note 18 - Stockholders' Equity - Schedule of Stock Option Activity (Details) - Predecessor Plan [Member] - Time Based Option [Member] - USD ($)	12 Months Ended
	May 31, 2026	May 31, 2025
Balance, options (in shares)	4,523
Balance, weighted average exercise price (in dollars per share)	$ 91.2
Balance, weighted average grant date fair value (in dollars per share)	$ 0
Balance, contractual term (Year)	1 year 6 months 10 days	2 years 6 months 10 days
Balance, aggregate intrinsic value	$ 0	$ 0
Share issuance - options exercised (in shares)	0
Exercised, weighted average exercise price (in dollars per share)	$ 0
Granted, options (in shares)	0
Granted, weighted average exercise price (in dollars per share)	$ 0
Forfeited, options (in shares)	0
Forfeited, weighted average exercise price (in dollars per share)	$ 0
Forfeited, weighted average grant date fair value (in dollars per share)	$ 0
Expired, options (in shares)	0
Expired, weighted average exercise price (in dollars per share)	$ 0
Expired, weighted average grant date fair value (in dollars per share)	0
Balance, weighted average grant date fair value (in dollars per share)	$ 0	$ 0
Vested and exercisable, options (in shares)	4,523
Vested and exercisable, weighted average exercise price (in dollars per share)	$ 91.2
Vested and exercisable, weighted average grant date fair value option (in dollars per share)	$ 0
Vested and exercisable, contractual term (Year)	1 year 6 months 10 days
Vested and exercisable, aggregate intrinsic value	$ 0
Balance, options (in shares)	4,523	4,523
Balance, weighted average exercise price (in dollars per share)	$ 91.2	$ 91.2
Balance, weighted average grant date fair value (in dollars per share)	$ 0	$ 0
Balance, aggregate intrinsic value	$ 0	$ 0
HEXO Acquisition [Member]
Balance, options (in shares)	18,717
Balance, weighted average exercise price (in dollars per share)	$ 2,345.31
Balance, weighted average grant date fair value (in dollars per share)	$ 0
Balance, contractual term (Year)	4 years 9 months 21 days	5 years 10 months 2 days
Balance, aggregate intrinsic value	$ 0
Forfeited, options (in shares)	0
Forfeited, weighted average exercise price (in dollars per share)	$ 0
Forfeited, weighted average grant date fair value (in dollars per share)	$ 0
Expired, options (in shares)	0
Expired, weighted average exercise price (in dollars per share)	$ 0
Expired, weighted average grant date fair value (in dollars per share)	0
Balance, weighted average grant date fair value (in dollars per share)	$ 0	$ 0
Vested and exercisable, options (in shares)	18,717
Vested and exercisable, weighted average exercise price (in dollars per share)	$ 2,345.31
Vested and exercisable, weighted average grant date fair value option (in dollars per share)	$ 0
Vested and exercisable, contractual term (Year)	4 years 9 months 21 days
Vested and exercisable, aggregate intrinsic value	$ 0
Converted upon acquisition, options (in shares)	0
Converted upon acquisition, weighted average exercise price (in dollars per share)	$ 0
Converted upon acquisition, weighted average grant date fair value	$ 0
Balance, options (in shares)	18,717	18,717
Balance, weighted average exercise price (in dollars per share)	$ 2,345.31	$ 2,345.31
Balance, weighted average grant date fair value (in dollars per share)	$ 0	$ 0
Balance, aggregate intrinsic value	$ 0

Note 4 - Inventory (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025
Beverage Alcohol Inventory [Member]
Purchase Price Accounting Step Up for Inventory Sold	$ 0	$ 1,610

Note 21 - Net Revenue (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
Advisory Services Agreement With HEXO [Member] \| Advisory Services Revenue [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 0	$ 1,460	$ 1,500

- Definition

+ References

+ Details

Note 11 - Long-term Investments - Schedule of Long-term Investments (Details) - USD ($) $ in Thousands	May 31, 2026	Dec. 31, 2025	May 31, 2025
Equity investments measured at fair value	$ 2,187		$ 1,972
Equity investments under measurement alternative	3,595
Total	6,551	$ 10,132	10,132
Superhero Acquisition LP [Member]
Equity investments under measurement alternative	$ 4,364		$ 8,160

- Definition

Fair value portion of investments accounted under the equity method.

+ References + Details

Note 28 - Financial Risk Management and Financial Instruments (Details Textual) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Aug. 31, 2025 USD ($)	May 31, 2026 USD ($) $ / shares	May 31, 2025 USD ($)	May 31, 2024 USD ($)	Dec. 31, 2025 USD ($)	Jan. 16, 2025 $ / shares	May 31, 2023 USD ($)
Crypto Asset, Number of Units, Fractional		9.16
Equity Securities without Readily Determinable Fair Value, Amount		$ 3,595
Business Combination, Contingent Consideration, Change in Contingent Consideration, Liability, Increase (Decrease)		(15,000)	$ 0	$ (15,790)
Accounts Receivable, Allowance for Credit Loss		3,156	3,702	$ 7,714			$ 6,641
Acquisition of Montauk Brewing Company, Inc. [Member]
Contingent Consideration Payable in Cash, Sales Volume or EBITDA Target Achieved					$ 15,000
Contingent Consideration Additional Payable in Cash, Both Performance Target Achieved					3,000
Contingent Consideration Payable in Cash, Total					$ 18,000
Business Combination, Contingent Consideration, Liability	$ 0		$ 15,000
Business Combination, Contingent Consideration, Change in Contingent Consideration, Liability, Increase (Decrease)	$ (15,000)	$ 0
Acquisition of Montauk Brewing Company, Inc. [Member] \| Measurement Input, Probability of Sales Target Achievement [Member]
Business Combination, Contingent Consideration, Liability, Measurement Input	0		100
Acquisition of Montauk Brewing Company, Inc. [Member] \| Measurement Input, Probability of Remaining Achievements [Member]
Business Combination, Contingent Consideration, Liability, Measurement Input	0		0
Superhero Acquisition LP [Member]
Equity Investment, Strike Price (in dollars per share) \| $ / shares		$ 1
Equity Securities without Readily Determinable Fair Value, Amount		$ 4,364	$ 8,160
Increase (Decrease) in Equity Securities Without Readily Determinable Fair Value		3,796
Superhero Acquisition LP [Member] \| Retail [Member]
Equity Securities without Readily Determinable Fair Value, Amount		$ 0
Superhero Acquisition LP [Member] \| Upon U.S. Federal Cannabis Legalization [Member]
Subsidiary, Ownership Percentage, Parent		68.00%				68.00%
Equity Investment, Strike Price (in dollars per share) \| $ / shares		$ 1				$ 1
Bitcoin [Member]
Crypto Asset, Number of Units, Fractional		9.16
Long-term Debt, Excluding Convertible Debentures [Member]
Long-Term Debt, Percentage Bearing Fixed Interest, Amount		$ 1,822	2,546
Convertible Debt [Member]
Convertible Debt		$ 88,000	$ 105,000

Note 16 - Convertible Debentures Payable (Details Textual) $ / shares in Units, $ in Thousands		12 Months Ended
	May 30, 2023 USD ($) $ / shares shares	May 31, 2026 USD ($) shares	May 31, 2025 USD ($) shares	May 31, 2024 USD ($)
Other Nonoperating Gains (Losses)		$ 392	$ 4,034	$ (12,367)
Accretion Expense		7,914	10,863	$ 14,459
TLRY 27 [Member]
Debt Instrument, Face Amount	$ 172,500	$ 172,500	$ 172,500
Debt Instrument, Interest Rate, Stated Percentage	5.20%	5.20%	5.20%
Debt Instrument, Convertible, Conversion Ratio	37.66
Debt Instrument, Convertible, Multiples of Principal Amount	$ 1,000
Debt Instrument, Convertible, Conversion Price (in dollars per share) \| $ / shares	$ 26.55
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger	130.00%
Own-share Lending Arrangement, Shares, Issued (in shares) \| shares	3,850,000
Debt Instrument, Principal Exchanged in Cancellation of Convertible Notes		$ 17,000
Stock Issued During Period, Shares, for the Repayment of Convertible Debt (in shares) \| shares		3,138,878
Repurchase of Notes for Cancellation		$ 208
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature		4,394
Other Nonoperating Gains (Losses)		$ 2,047
Shares Returned From Share Lending Agreement, Treasury Stock (in shares) \| shares		379,420
Own-share Lending Arrangement, Shares, Outstanding (in shares) \| shares		1,964,058	2,434,378
Interest Expense, Debt		$ 5,138	$ 7,775
Accretion Expense		7,914	10,863
Debt Instrument, Principal Outstanding		$ 88,000	$ 105,000

Note 29 - Segment Reporting - Geographic Net Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
Net revenue	$ 915,454	$ 821,309	$ 788,942
UNITED STATES
Net revenue	242,390	273,695	233,141
CANADA
Net revenue	215,661	212,860	243,722
EMEA [Member]
Net revenue	445,698	323,350	296,450
Rest of World [Member]
Net revenue	$ 11,705	$ 11,404	$ 15,629

- Definition

+ References

+ Details

Note 15 - Long-term Debt - Net Carrying Amount of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	May 31, 2026	May 31, 2025
Mortgage Payable Due in February 2028 [Member]
Carrying amount of long-term debt	$ 34,310	$ 38,690
Mortgage Payable Due in July 2033 One [Member]
Carrying amount of long-term debt	8,420	11,501
Mortgage Payable Due in July 2033 Two [Member]
Carrying amount of long-term debt	10,356	9,354
Term Loan Due in August 2026 [Member]
Carrying amount of long-term debt	23	157
Mortgage Payable Due in August 2026 [Member]
Carrying amount of long-term debt	1,890	2,020
Term Loan Due in August 2028 [Member]
Carrying amount of long-term debt	1,822	2,546
Mortgage Payable Due in October 2030 [Member]
Carrying amount of long-term debt	18,669	19,418
Term Loan Due in June 2028 [Member]
Carrying amount of long-term debt	63,688	80,438
Long-term Debt, Excluding Convertible Debentures [Member]
Carrying amount of long-term debt	139,178	164,124
Unamortized financing fees	(593)	(864)
Net carrying amount	138,585	163,260
Less principal portion included in current liabilities	(18,160)	(14,767)
Total noncurrent portion of long-term debt	$ 120,425	$ 148,493

Note 19 - Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
Balance	$ 1,489,575	$ 3,443,178	$ 3,329,943
Balance	1,594,867	1,489,575	3,443,178
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(43,063)	(43,499)	(46,610)
Other comprehensive income (loss)	(1,170)	436	3,111
Balance	$ (44,233)	$ (43,063)	$ (43,499)

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

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+ Details

Note 11 - Long-term Investments

12 Months Ended

May 31, 2026

Notes to Financial Statements

Investment [Text Block]

11.

Long-term investments

Long-term investments are comprised of the following items:

	*May 31,*		*May 31,*
	*2026*		*2025*
Equity investments measured at fair value	$	2,187	$	1,972
Equity investments under measurement alternative		4,364		8,160
Total	$	6,551	$	10,132

The Company’s equity investments at fair value consist of publicly traded shares, equity interest in non-traded companies and warrants held by the Company. As of May 31, 2026 and May 31, 2025, included within equity investment under measurement alternative is an option to acquire a 68% membership interest in SH Acquisition for $1.00 upon U.S. federal cannabis legalization valued at $4,364 and $8,160 respectively. See Note 28 (Financial risk management and financial instruments).

For the fiscal year ended May 31, 2026, the Company acquired $3,595 equity investments measured at fair value, which were subsequently sold for proceeds of $2,566 on the sale of investments, and recognized $812 of losses due to the change in fair value. Additionally, the Company recognized $3,796 of losses due to the change in fair value of equity investments under measurement alternative.

For the fiscal years ended May 31, 2025 and 2024, the Company recognized fair value changes of $5,500 and $217, respectively. See Note 28 (Financial risk management and financial instruments) for additional details.

Note 23 - General and Administrative Expenses - Components of General and Administrative Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2026	May 31, 2025	May 31, 2024
Salaries and wages	$ 91,448	$ 88,015	$ 83,673
Office and general	42,171	28,314	28,460
Share-Based Payment Arrangement, Expense	45,940	24,289	31,769
Insurance	9,792	11,843	12,586
Professional fees	4,238	4,765	5,345
Loss (gain) on sale of capital assets	(509)	928	(4,198)
Travel and accommodation	5,569	5,717	5,138
Rent	4,980	3,453	4,585
Total	$ 203,629	$ 167,324	$ 167,358