Tilray Is Growing 73% Internationally. The Market Is Paying Almost No Attention. Is That a Mistake?

Tilray reported 73% international cannabis revenue growth in Q3 2026, but this represents only $24 million of the company's $206.7 million total sales. While the company is undergoing a strategic transformation from a pure marijuana play to a diversified consumer packaged goods company (including alcohol), it continues to lose money and faces headwinds including a 24% beverage sales decline and 20% U.S. operations decline. The stock remains a high-risk investment suitable only for aggressive investors until profitability is achieved.