0001437749-24-031042 | 10-Q | XBRL Viewer

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Consolidated Statements of Loss and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Net revenue	$ 200,044	$ 176,949
Cost of goods sold	140,338	132,753
Gross profit	59,706	44,196
Operating expenses:
General and administrative	44,113	40,516
Selling	11,690	6,859
Amortization	21,804	22,225
Marketing and promotion	11,566	8,535
Research and development	105	79
Change in fair value of contingent consideration	0	(11,107)
Litigation costs, net of recoveries	1,595	2,034
Restructuring costs	4,247	915
Transaction costs (income), net	1,156	8,502
Total operating expenses	96,276	78,558
Operating loss	(36,570)	(34,362)
Interest expense, net	(9,842)	(9,835)
Non-operating income (expense), net	12,646	(4,402)
Loss before income taxes	(33,766)	(48,599)
Income tax expense, net	886	7,264
Net loss	(34,652)	(55,863)
Total net income (loss) attributable to:
Stockholders of Tilray Brands, Inc.	(39,165)	(71,525)
Non-controlling interests	4,513	15,662
Other comprehensive gain (loss), net of tax
Foreign currency translation gain (loss)	4,160	3,209
Total other comprehensive gain (loss), net of tax	4,160	3,209
Comprehensive loss	(30,492)	(52,654)
Total comprehensive income (loss) attributable to:
Stockholders of Tilray Brands, Inc.	(35,543)	(68,476)
Non-controlling interests	$ 5,051	$ 15,822
Weighted average number of common shares - basic (in shares)	875,444,828	691,189,382
Weighted average number of common shares - diluted (in shares)	875,444,828	691,189,382
Net loss per share - basic (in dollars per share)	$ (0.04)	$ (0.1)
Net loss per share - diluted (in dollars per share)	$ (0.04)	$ (0.1)

Note 3 - Capital Assets - Schedule of Capital Assets (Details) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Capital assets, gross	$ 758,794	$ 747,822
Less: accumulated amortization	(203,658)	(189,575)
Total	555,136	558,247
Land [Member]
Capital assets, gross	45,165	45,577
Manufacturing Facility [Member]
Capital assets, gross	375,345	369,630
Equipment [Member]
Capital assets, gross	262,876	258,532
Leasehold Improvements [Member]
Capital assets, gross	19,463	19,377
Right of Use Assets [Member]
Capital assets, gross	43,429	43,993
Construction in Progress [Member]
Capital assets, gross	$ 12,516	$ 10,713

Note 26 - Segment Reporting (Details Textual) $ in Thousands	3 Months Ended
	Aug. 31, 2024 USD ($)	Aug. 31, 2023 USD ($)
Number of Reportable Segments	4
Customer Concentration Risk [Member] \| Revenue Benchmark [Member] \| Major Customers [Member]
Number Of Major Customers	0	0
Advisory Services Agreement With HEXO [Member] \| Advisory Services Revenue [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 0	$ 1,500

- 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.

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+ Details

Note 13 - Convertible Debentures Payable - Net Carrying Amount of Convertible Debentures (Details) (Parentheticals)	Aug. 31, 2024	May 31, 2024	May 30, 2023	Apr. 01, 2019
TLRY 27 [Member]
Rate	5.20%	5.20%	5.20%
APHA 24 [Member]
Rate	5.25%	5.25%		5.25%

Note 16 - Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Balance	$ 3,443,178	$ 3,329,943
Other comprehensive loss	4,160	3,209
Balance	3,483,414	3,401,556
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Balance	(43,499)	(46,610)
Other comprehensive loss	3,622	3,049
Balance	(39,877)	(43,561)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member]
Balance	(43,499)	(46,610)
Other comprehensive loss	3,622	3,049
Balance	$ (39,877)	$ (43,561)

- Definition

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

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- Definition

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

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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 43: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 44: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 45: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 46: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-15

Reference 47: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-16

Reference 48: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4I

Reference 49: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1

+ Details

Note 18 - Income Taxes

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Income Tax Disclosure [Text Block]

Note 18. Income taxes

The determination of the Company’s overall effective tax rate requires significant judgment, the use of estimates, and the interpretation and application of complex tax laws. The effective tax rate reflects the income earned and taxed in various United States federal, state, and foreign jurisdictions. Tax law changes, increases, and decreases in temporary and permanent differences between book and tax items, valuation allowances against the deferred tax assets, stock compensation, and the Company’s change in income in each jurisdiction all affect the overall effective tax rate. It is the Company’s practice to recognize interest and penalties related to uncertain tax positions in income tax expense.

The Company reported income tax expense of $886 for the three months ended August 31, 2024, and income tax expense of $7,264 for the three months ended August 31, 2023. The income tax benefit in the current period varies from the US statutory income tax rate and prior period primarily due to the geographical mix of earnings and losses with no tax benefit resulting from valuation allowances in certain jurisdictions.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: 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 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

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

Reference 5: 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 6: 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)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: 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 8: 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 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: 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 11: 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 12: 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 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: 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 19 - Commitments and Contingencies - Schedule of Commitments (Details) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Total	$ 412,288
Total, 2024	56,118
Total, 2025	70,090
Total, 2026	185,104
Total, 2027	66,762
Total, thereafter	34,214
Material Purchase Obligations [Member]
Purchase obligations, total	67,142
Purchase obligations, 2024	39,615
Purchase obligations, 2025	27,527
Purchase obligations, 2026	0
Purchase obligations, 2027	0
Purchase obligations, thereafter
Capital Addition Purchase Commitments [Member]
Purchase obligations, total	431
Purchase obligations, 2024	431
Purchase obligations, 2025	0
Purchase obligations, 2026	0
Purchase obligations, 2027	0
Purchase obligations, thereafter	0
Long-term Debt, Excluding Convertible Debentures [Member]
Debt instrument	172,215	$ 174,666
Debt Instrument, 2024	16,072
Long-term debt repayment	42,563
Debt instrument, 2026	12,604
Debt instrument, 2027	66,762
Debt instrument, thereafter	34,214
Convertible Debentures [Member]
Debt instrument	172,500
Debt Instrument, 2024	0
Long-term debt repayment	0
Debt instrument, 2026	172,500
Debt instrument, 2027	0
Debt instrument, thereafter	$ 0

Note 4 - Leases - Lease Related Assets and Liabilities (Details) (Parentheticals) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Liabilities, Current [Abstract]
Operating and Finance Lease Liability, Current	$ 5,640	$ 5,091
Liabilities, Noncurrent [Abstract]
Operating and Finance Lease Liability, Noncurrent	$ 60,657	$ 60,422
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 19 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	Mar. 17, 2023	Aug. 31, 2024	May 31, 2024
Loss Contingency Accrual		$ 24,413	$ 24,378
Settled Litigation [Member] \| K. Dickson v. Tilray, Inc. [Member]
Loss Contingency, Damages Awarded, Value	$ 3,734

Note 1 - Basis of Presentation and Summary of Significant Accounting Policies

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Basis of Presentation and Significant Accounting Policies [Text Block]

Note 1. Basis of presentation and summary of significant accounting policies

The accompanying unaudited condensed interim consolidated financial statements (the “Financial Statements”) reflect the accounts of the Company for the quarterly period ended August 31, 2024. The financial statements were prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not include all of the information and notes required by U.S. GAAP and should be read in conjunction with the audited consolidated financial statements (the “Annual Financial Statements”) included in the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2024 (the “Annual Report”). These Financial Statements reflect all adjustments, which, in the opinion of management, are necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full fiscal year.

These Financial Statements have been prepared on a 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 that are measured at fair value, as detailed in the Company’s accounting policies.

All amounts in the Financial Statements, notes and tables have been rounded to the nearest thousand, except par values and per share amounts, and unless otherwise indicated.

Certain items of the comparative figures have been changed to conform to the presentation adopted in the current period.

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. 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.

Convertible notes receivable

Convertible notes receivable includes various investments in which the Company has the right, or potential right to convert the indenture into common stock of the investee and are classified as available-for-sale and are recorded at fair value. Unrealized gains and losses during the year, net of the related tax effect, are excluded from income and reflected in other comprehensive income (loss), and the cumulative effect is reported as a separate component of shareholders' equity until realized. We use judgement to assess convertible notes receivables for impairment at each measurement date. Convertible notes receivables are impaired when a decline in fair value is determined to be other-than-temporary, an impairment charge is recorded in the consolidated statements of loss and comprehensive loss and a new cost basis for the investment is established. We also evaluate whether there is a plan to sell the security, or it is more likely than not that we will be required to sell the security before recovery. If neither of the conditions exist, then only the portion of the impairment loss attributable to credit loss is recorded in the statements of loss and the remaining amount is recorded in other comprehensive income (loss).

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 13 (Convertible debentures payable) are excluded from the calculation of basic and diluted earnings per share because the borrower of the shares is required under the share lending arrangement to refund any dividends paid on the shares lent.

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 three months ended August 31, 2024 and August 31, 2023, the dilutive potential common share equivalents outstanding consisted of the following: 23,411,577 and 21,202,933 common shares from RSUs, 3,359,144 and 6,325,348 common shares from share options, 6,210,000 and 7,847,219 common shares for warrants and 64,971,746 and 77,819,141 common shares for convertible debentures, respectively.

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 on or after the effective date of the amendments. The Company is currently evaluating the effect of adopting this ASU.

In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative, which amends the disclosure or presentation requirements related to various subtopics in the FASB Accounting Standards Codification (the “Codification”). The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. If by June 30, 2027, the SEC has not removed the applicable requirement from Regulation S-X or Regulation S-K, the pending content of the related amendment will be removed from the Codification and will not become effective for any entity. The Company is currently evaluating the effect of adopting this ASU.

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. ASU 2023-09 is effective for the Company beginning with the fiscal year ended June 1, 2025. The Company is currently evaluating the effect of adopting this ASU.

New accounting pronouncements recently adopted

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses on an interim and annual basis. ASU 2023-07 is effective for the Company beginning with the fiscal year ended May 31, 2025 and will be disclosed retrospectively in the Annual Report on Form 10-K.

On March 21, 2024, the FASB issued ASU 2024-01, Compensation—Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards, which adds illustrative examples that demonstrate how the scoping guidance in ASC 718-10-15-3 applies to profits interest or similar awards. The Company adopted ASU 2024-01 beginning with the fiscal year ended June 1, 2024 with no material impacts.

Note 25 - Fair Value Measurements

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Financial Instruments Disclosure [Text Block]

Note 25. Fair value measurements

Financial instruments

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

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.

On August 31, 2024 and May 31, 2024 the Company had long-term debt of $3,350 and $3,568, respectively, and the principal portion of convertible debentures payable of $172,500 and $172,830, respectively, subject to fixed interest rates. The Company’s long-term debt is valued based on discounting the future cash outflows associated with the long-term debt. The discount rate is based on the incremental premium above market rates for the U.S. Department of the Treasury securities of similar duration. In each period thereafter, the incremental premium is held constant while the U.S. Department of the Treasury security is based on the then current market value to derive the discount rate.

The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of August 31, 2024 and May 31, 2024 and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:

								*August 31,*
	*Level 1*		*Level 2*		*Level 3*			*2024*
Financial assets
Cash and cash equivalents	$	205,186	$	—	$	—		$	205,186
Marketable securities		74,869		—		—			74,869
Convertible notes receivable		—		—		32,000			32,000
Equity investments measured at fair value		891		1,462		5,500			7,853
Financial liabilities
Warrant liability		—		—		(2,557	)		(2,557	)
Contingent consideration		—		—		(15,000	)		(15,000	)
APHA 24 Convertible debenture		—		—		—			—
Total recurring fair value measurements	$	280,946	$	1,462	$	19,943		$	302,351

								*May 31,*
	*Level 1*		*Level 2*		*Level 3*			*2024*
Financial assets
Cash and cash equivalents	$	228,340	$	—	$	—		$	228,340
Marketable Securities		32,182		—		—			32,182
Convertible notes receivable		—		—		32,000			32,000
Equity investments measured at fair value		919		1,440		5,500			7,859
Financial liabilities
Warrant liability		—		—		(3,253	)		(3,253	)
Contingent consideration		—		—		(15,000	)		(15,000	)
APHA 24 Convertible debenture		—		—		(330	)		(330	)
Total recurring fair value measurements	$	261,441	$	1,440	$	18,917		$	281,798

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

Convertible notes receivable and long-term investments are recorded at fair value. The estimated fair value is determined using, among others, the Black Scholes option pricing model, probability of legalization and is classified as Level 3.

Convertible debentures payable are recorded at fair value when elected or required under US GAAP. Specifically, the APHA 24 instrument's estimated fair value was determined using the Black-Scholes option pricing model and was classified as Level 3.

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.

The warrants associated with the warrant liability are classified as Level 3 derivatives. Consequently, the estimated fair value of the warrant liability is determined using the Black-Scholes pricing model. Until the warrants are exercised, expire, or other facts and circumstances lead the warrant liability to be reclassified to stockholders’ equity, the warrant liability (which relates to warrants to purchase shares of common stock) is marked-to-market each reporting period with the change in fair value recorded in change in fair value of warrant liability. Any significant adjustments to the unobservable inputs disclosed in the table below would have a direct impact on the fair value of the warrant liability.

A portion of the consideration to be paid in connection the Company’s acquisition of Montauk Brewing is contingent upon the achievement of certain financial measures as of December 2025, and if achieved, such contingent consideration is payable in cash. The contingent consideration amount was estimated by applying a probability of achievement of 100% on the $15,000 sales earn-out component and 0% on the remaining criterion, which is not expected to be achieved. The unobservable inputs into the future expected cash outflows result in a fair value measurement classified as Level 3.

During the three months ended August 31, 2024, a decrease in fair value of $nil was recognized compared to a decrease of fair value of $11,107 in the period ended August 31, 2023 for the contingent consideration from the SweetWater acquisition as a result of not achieving the incentive targets.

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:

											*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)		—		—		—			—			330
Redemption		—		—		—			—			—
Unrealized gain (loss) on fair value		—		—		696			—			—
Impairments		—		—		—			—			—
Balance, August 31, 2024	$	32,000	$	5,500	$	(2,557	)	$	(15,000	)	$	—

The unrealized gain (loss) on fair value for the convertible debenture, the warrant liability, contingent consideration, and debt securities classified under available-for-sale method is recognized in the consolidated statements of loss and comprehensive loss using the following inputs:

		*Significant*
	*Valuation*	*unobservable*
Financial asset / financial liability	*technique*	*input*	*Inputs*
Warrant liability	Black-Scholes	Volatility,	50%
		expected life (in years)	1.0
Contingent consideration	Discounted cash flows	Discount rate,	11%
		Probability of achievement	100% and 0%

Items measured at fair value on a non-recurring basis

The Company's prepaids 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.

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 period. The Company considers its cash and cash equivalents and marketable securities as capital.

Note 5 - Intangible Assets

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

Note 5. Intangible Assets

Intangible assets consisted of the following items:

	*August 31,*			*May 31,*
	*2024*			*2024*
Customer relationships & distribution channel	$	609,728		$	603,939
Licenses, permits & applications		371,507			368,057
Non-compete agreements		12,441			12,403
Intellectual property, trademarks, knowhow & brands		616,721			608,672
		1,610,397		$	1,593,071
Less: accumulated amortization		(285,785	)		(261,758	)
Less: impairments		(415,844	)		(415,844	)
Total	$	908,768		$	915,469

Included in Licenses, permits & applications was $185,636 of indefinite-lived intangible assets as of August 31, 2024, compared to $182,851 as of May 31, 2024.

Expected future amortization expense for intangible assets as of August 31, 2024 is as follows:

	*Amortization*
2025 (remaining nine months)	$	55,822
2026		74,430
2027		74,430
2028		74,430
2029		74,430
Thereafter		369,590
Total	$	723,132

Note 23 - Restructuring Charges (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Restructuring Costs	$ 4,247	$ 915
Distribution Business [Member]
Restructuring Costs	121
Superhero L P [Member]
Restructuring and Related Cost, Incurred Cost	1,084
Employee Severance [Member] \| Beverage Alcohol Business [Member]
Restructuring Costs	123
Employee Severance [Member] \| HEXO Acquisition [Member]
Restructuring Costs	2,582
Facility Closing [Member] \| Fort Collins Facility [Member]
Restructuring Costs	82
Facility Closing [Member] \| Truss Beverage Company [Member]
Restructuring Costs	$ 255

Note 2 - Inventory (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

Schedule of Inventory, Current [Table Text Block]

	*August 31,*		*May 31,*
	*2024*		*2024*
Beverage alcohol inventory		58,784	$	52,831
Plants		16,333		13,828
Dried cannabis		107,290		108,721
Cannabis derivatives		7,306		4,504
Cannabis vapes		4,858		4,132
Packaging and other inventory items		20,270		22,115
Distribution inventory		38,202		35,645
Wellness inventory		11,252		10,311
Total	$	264,295	$	252,087

Note 17 - Non-controlling Interests (Details Textual)	Aug. 31, 2024	Aug. 31, 2021
Superhero Acquisition LP [Member]
Noncontrolling Interest, Ownership Percentage by Parent	68.00%	68.00%
CC Pharma Nordic ApS [Member]
Noncontrolling Interest, Ownership Percentage by Parent	75.00%
Aphria Diamond [Member]
Noncontrolling Interest, Ownership Percentage by Parent	51.00%
ColCanna S.A.S. [Member]
Noncontrolling Interest, Ownership Percentage by Parent	90.00%

Note 4 - Leases

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Leases Disclosure [Text Block]

Note 4. Leases

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

		*August 31,*		*May 31,*
	*Classification on Balance Sheet*	*2024*		*2024*
Assets
Finance lease, right-of-use assets	Capital assets	$	43,429	$	43,993
Operating lease, right-of-use assets	Operating lease, right-of-use assets		17,176		16,101
Total right-of-use asset		$	60,605	$	60,094
Liabilities
Current:
Current portion of finance lease liabilities	Current portion of lease liabilities	$	1,116	$	1,092
Current portion of operating lease liabilities	Current portion of lease liabilities		4,524		3,999
Non-current:
Finance lease liabilities	Lease liabilities		43,737		43,948
Operating lease liabilities	Lease liabilities		16,920		16,474
Total lease liabilities		$	66,297	$	65,513

The following table presents the future undiscounted payments associated with lease liabilities as of August 31, 2024:

	*Operating*			*Finance*
	*leases*			*leases*
2025	$	4,775		$	3,299
2026		6,089			4,398
2027		5,439			4,398
2028		4,540			4,398
Thereafter		6,139			78,781
Total minimum lease payments	$	26,982		$	95,274
Imputed interest		(5,538	)		(50,421	)
Obligations recognized	$	21,444		$	44,853

Note 26 - Segment Reporting - Geographic Net Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Net revenue	$ 200,044	$ 176,949
UNITED STATES
Net revenue	63,880	31,489
CANADA
Net revenue	55,905	62,032
EMEA [Member]
Net revenue	77,672	79,704
Rest of World [Member]
Net revenue	$ 2,587	$ 3,724

- 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

Note 24 - Non-operating Income (Expense), Net

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Other Nonoperating Income and Expense [Text Block]

Note 24. Non-operating income (expense), net

Non-operating income (expense), net is comprised of:

	*For the three months ended*
	*August 31,*			*August 31,*
	*2024*			*2023*
Change in fair value of convertible debenture payable	$	—		$	(2,147	)
Change in fair value of warrant liability		696			(8,198	)
Foreign exchange gain (loss)		11,881			6,267
Loss on long-term investments		(39	)		(109	)
Other non-operating (losses) gains, net		108			(215	)
Total	$	12,646		$	(4,402	)

Note 13 - Convertible Debentures Payable (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

Convertible Debt [Table Text Block]

	*August 31,*		*May 31,*
	*2024*		*2024*
5.20% Convertible Notes ("TLRY 27")	$	132,650	$	129,583
5.25% Convertible Notes ("APHA 24")		—		330
Total		132,650		129,913
Deduct - current portion		—		330
Total convertible debentures payable, non current portion	$	132,650	$	129,583

	*August 31,*			*May 31,*
	*2024*			*2024*
5.20% Contractual debenture	$	172,500		$	172,500
Unamortized discount		(39,850	)		(42,917	)
Net carrying amount	$	132,650		$	129,583

	*August 31,*		*May 31,*
	*2024*		*2024*
5.25% Contractual debenture	$	—	$	350,000
Debt settlement		—		(349,670	)
Fair value adjustment		—		—
Net carrying amount	$	—	$	330

Note 5 - Intangible Assets (Details Textual) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Licenses, Permits and Applications [Member]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 185,636	$ 182,851

Note 25 - Fair Value Measurements (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

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

								*August 31,*
	*Level 1*		*Level 2*		*Level 3*			*2024*
Financial assets
Cash and cash equivalents	$	205,186	$	—	$	—		$	205,186
Marketable securities		74,869		—		—			74,869
Convertible notes receivable		—		—		32,000			32,000
Equity investments measured at fair value		891		1,462		5,500			7,853
Financial liabilities
Warrant liability		—		—		(2,557	)		(2,557	)
Contingent consideration		—		—		(15,000	)		(15,000	)
APHA 24 Convertible debenture		—		—		—			—
Total recurring fair value measurements	$	280,946	$	1,462	$	19,943		$	302,351

								*May 31,*
	*Level 1*		*Level 2*		*Level 3*			*2024*
Financial assets
Cash and cash equivalents	$	228,340	$	—	$	—		$	228,340
Marketable Securities		32,182		—		—			32,182
Convertible notes receivable		—		—		32,000			32,000
Equity investments measured at fair value		919		1,440		5,500			7,859
Financial liabilities
Warrant liability		—		—		(3,253	)		(3,253	)
Contingent consideration		—		—		(15,000	)		(15,000	)
APHA 24 Convertible debenture		—		—		(330	)		(330	)
Total recurring fair value measurements	$	261,441	$	1,440	$	18,917		$	281,798

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

											*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)		—		—		—			—			330
Redemption		—		—		—			—			—
Unrealized gain (loss) on fair value		—		—		696			—			—
Impairments		—		—		—			—			—
Balance, August 31, 2024	$	32,000	$	5,500	$	(2,557	)	$	(15,000	)	$	—

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

		*Significant*
	*Valuation*	*unobservable*
Financial asset / financial liability	*technique*	*input*	*Inputs*
Warrant liability	Black-Scholes	Volatility,	50%
		expected life (in years)	1.0
Contingent consideration	Discounted cash flows	Discount rate,	11%
		Probability of achievement	100% and 0%

Note 25 - Fair Value Measurements (Details Textual) $ in Thousands	3 Months Ended
	Aug. 31, 2024 USD ($)	Aug. 31, 2023 USD ($)	May 31, 2024 USD ($)
Contingent Consideration [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis with Unobservable Inputs	$ (15,000)		$ (15,000)
SweetWater, Montauk, and Truss [Member] \| Contingent Consideration [Member]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)	$ 0	$ (11,107)
Maximum [Member] \| SweetWater, Montauk, and Truss [Member] \| Measurement Input, Probability of Achievement [Member]
Business Combination, Contingent Consideration, Liability, Measurement Input	100
Minimum [Member] \| SweetWater, Montauk, and Truss [Member] \| Measurement Input, Probability of Achievement [Member]
Business Combination, Contingent Consideration, Liability, Measurement Input	0
Long-term Debt, Excluding Convertible Debentures [Member]
Long-Term Debt, Percentage Bearing Fixed Interest, Amount	$ 3,350		3,568
Convertible Debt [Member]
Convertible Debt	$ 172,500		$ 172,830

Note 11 - Accounts Payable and Accrued Liabilities (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

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

	*August 31,*		*May 31,*
	*2024*		*2024*
Trade payables	$	101,868	$	105,392
Accrued liabilities		90,899		92,424
Litigation accrual		24,413		24,378
Accrued payroll and employment related taxes		10,279		6,154
Income taxes payable		973		4,092
Accrued interest		3,359		4,217
Sales taxes payable		4,355		5,300
Total	$	236,146	$	241,957

Note 27 - Subsequent Events

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Subsequent Events [Text Block]

Note 27. Subsequent Events

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 for a total purchase consideration of $23,079. This purchase price amount is subject to certain customary post-closing working capital adjustments.

As part of the Company's ATM Program, from September 1, 2024 to September 10, 2024, the Company issued an additional 10,132,247 shares generating gross proceeds of $17,059. The Company paid $341 in commissions and other fees associated with these issuances generating net proceeds of $16,718.

On September 12, 2024, the Company repurchased $7,500 of its TLRY 27 Notes for cancellation by issuing 4,484,240 shares and paying $102 of cash to settle accrued interest. After cancellation, the outstanding principal balance of the TLRY 27 Notes was $165,000.

On September 17, 2024, the Company entered into an assignment and assumption agreement with Double Diamond Holdings Ltd. (“DDH”), pursuant to which, among other things, Tilray acquired from DDH a promissory note in the amount of $23,792 (the “Note”) payable by Aphria Diamond Inc. (“Aphria Diamond”). DDH is a joint venturer with Aphria Inc., Tilray’s direct and wholly-owned subsidiary, in Aphria Diamond. As consideration for the Note, Tilray issued 13,217,588 shares of its common stock, par value $0.0001 per share (the “Consideration Shares”), to DDH.

Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - shares	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities (in shares)	64,971,746	77,819,141
Restricted Stock Units (RSUs) [Member]
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants (in shares)	23,411,577	21,202,933
Share-Based Payment Arrangement, Option [Member]
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants (in shares)	3,359,144	6,325,348
Warrants [Member]
Incremental Common Shares Attributable to Dilutive Effect of Call Options and Warrants (in shares)	6,210,000	7,847,219

Note 16 - Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

Note 16. Accumulated other comprehensive income (loss)

Accumulated other comprehensive loss includes the following components:


	*Foreign*
	*currency*
	*translation*
	*gain (loss)*			*Total*
Balance May 31, 2023	$	(46,610	)	$	(46,610	)
Other comprehensive loss		3,049			3,049
Balance August 31, 2023	$	(43,561	)	$	(43,561	)

Balance May 31, 2024	$	(43,499	)	$	(43,499	)
Other comprehensive loss		3,622			3,622
Balance August 31, 2024	$	(39,877	)	$	(39,877	)

Consolidated Statements of Financial Position (Parentheticals) - $ / shares	Aug. 31, 2024	May 31, 2024
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	1,198,000,000	1,198,000,000
Common stock, shares issued (in shares)	875,444,828	875,444,828
Common stock, shares outstanding (in shares)	831,925,373	831,925,373
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

Note 22 - General and Administrative Expenses (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

Schedule of General and Administrative Expenses [Table Text Block]

	*For the three months ended*
	*August 31,*			*August 31,*
	*2024*			*2023*
Salaries and wages	$	21,567		$	16,775
Office and general		9,260			8,168
Stock-based compensation		6,917			8,257
Insurance		2,455			3,849
Professional fees		1,178			1,499
(Gain) loss on sale of capital assets		(26	)		3
Travel and accommodation		1,493			1,107
Rent		1,269			858
Total	$	44,113		$	40,516

Note 5 - Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Cost	$ 1,610,397	$ 1,593,071
Less: accumulated amortization	(285,785)	(261,758)
Less: impairments	(415,844)	(415,844)
Total	908,768	915,469
Customer Relationships and Distribution Channel [Member]
Cost	609,728	603,939
Licenses, Permits and Applications [Member]
Cost	371,507	368,057
Noncompete Agreements [Member]
Cost	12,441	12,403
Intellectual Property, Trademarks, Know How and Brands [Member]
Cost	$ 616,721	$ 608,672

Note 26 - Segment Reporting - Geographic Capital Assets (Details) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Capital assets	$ 555,136	$ 558,247
UNITED STATES
Capital assets	140,900	141,314
CANADA
Capital assets	312,432	313,359
EMEA [Member]
Capital assets	98,433	99,921
Rest of World [Member]
Capital assets	$ 3,371	$ 3,653

Note 15 - Stockholders' Equity

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Equity [Text Block]

Note 15. Stockholders' equity

Issued and outstanding

As of August 31, 2024, the Company had 1,198,000,000 common shares and 10,000,000 preferred shares authorized to be issued, with 875,444,828 common shares and nil preferred shares issued and outstanding. Historically, the Company has issued shares of its common stock as consideration for business acquisitions, 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 three months ended August 31, 2024, the Company issued the following common shares:

36,693,307 shares under its At-the-Market (“ATM”) program generating gross proceeds of $68,279. The Company paid $1,807 in commissions and other fees associated with these issuances, with net proceeds of $66,472.

6,826,148 shares in connection with the exercise of previously awarded stock-based compensation awards.

During the three months ended August 31, 2024 the Company granted 13,054,906 time-based RSUs, and $nil performance-based RSUs. During the three months ended August 31, 2023 the Company granted 11,559,549 time-based RSUs and 7,566,146 performance based RSUs. The 7,566,146 performance based RSUs issued contain certain performance conditions that will not be set until a future date and, therefore, the grant date has not been met for accounting purposes. The Company's total stock-based compensation expense recognized for the three months ended August 31, 2024 and August 31, 2023 are as follows:

	*For the three months ended*
	*August 31,*		*August 31,*
	*2024*		*2023*
RSUs		6,917		8,257
Total	$	6,917	$	8,257

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (h)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Note 8 - Convertible Notes Receivable - Schedule of Convertible Notes Receivable (Details) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Deduct - current portion	$ 0	$ 0
Total convertible notes receivable, non current portion	32,000	32,000
MedMen Convertible Note [Member]
Total convertible notes receivable	$ 32,000	$ 32,000

Note 26 - Segment Reporting

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

Note 26. Segment reporting

Information reported to the Chief Operating Decision Maker (“CODM”) for the purpose of resource allocation and assessment of segment performance focuses on the nature of the operations. The Company operates in four reportable segments: (1) beverage alcohol operations, which encompasses the production, marketing and sale of beverage and beverage alcohol products, (2) cannabis operations, which encompasses the cultivation, production, distribution, sale, co-manufacturing and advisory services of both medical and adult-use cannabis, (3) distribution operations, which encompasses the purchase and resale/distribution of pharmaceuticals products to wholesale and pharmacy customers, and (4) wellness products, which encompasses hemp foods and hemp-based cannabidiol (“CBD”) consumer products. This structure is in line with how our Chief Operating Decision Maker (“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.

Segment gross profit from external customers:

	*For the three months ended*
	*August 31,*		*August 31,*
	*2024*		*2023*
Beverage alcohol
Net beverage alcohol revenue	$	55,972	$	24,162
Beverage alcohol costs		33,050		11,266
Beverage alcohol gross profit		22,922		12,896
Cannabis
Net cannabis revenue		61,249		70,333
Cannabis costs		37,054		50,517
Cannabis gross profit		24,195		19,816
Distribution
Distribution revenue		68,071		69,157
Distribution costs		60,138		61,468
Distribution gross profit		7,933		7,689
Wellness
Wellness revenue		14,752		13,297
Wellness costs		10,096		9,502
Wellness gross profit	$	4,656	$	3,795

Channels of Cannabis revenue were as follows:

	For the three months ended
	August 31,			August 31,
	2024			2023
Revenue from Canadian medical cannabis	$	6,261		$	6,142
Revenue from Canadian adult-use cannabis		57,235			71,195
Revenue from wholesale cannabis		5,507			5,295
Revenue from international cannabis		12,191			14,252
Less excise taxes		(19,945	)		(26,551	)
Total	$	61,249		$	70,333

Included in revenue from Canadian adult-use cannabis is $nil advisory services revenue for the three months ended August 31, 2024 from the previous HEXO commercial transaction agreements in place prior to its acquisition, compared to $1,500 in the prior period.

Geographic net revenue:

	*For the three months ended*
	*August 31,*		*August 31,*
	*2024*		*2023*
USA	$	63,880	$	31,489
Canada		55,905		62,032
EMEA		77,672		79,704
Rest of World		2,587		3,724
Total	$	200,044	$	176,949

Geographic capital assets:

	*August 31,*		*May 31,*
	*2024*		*2024*
USA	$	140,900	$	141,314
Canada		312,432		313,359
EMEA		98,433		99,921
Rest of World		3,371		3,653
Total	$	555,136	$	558,247

Major customers are defined as customers that are materially significant to the Company’s annual revenues. For the three months ended August 31, 2024 and 2023, there were no major customers representing a material contribution to our quarterly revenues.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: 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 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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+ Details

Note 22 - General and Administrative Expenses - Components of General and Administrative Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Salaries and wages	$ 21,567	$ 16,775
Office and general	9,260	8,168
Stock-based compensation	6,917	8,257
Insurance	2,455	3,849
Professional fees	1,178	1,499
(Gain) loss on sale of capital assets	(26)	3
Travel and accommodation	1,493	1,107
Rent	1,269	858
Total	$ 44,113	$ 40,516

Note 6 - Goodwill - Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Effect of foreign exchange	$ 8,746	$ 7,916
Impairments	(842,431)	(842,431)
Goodwill	2,009,714	2,008,884
Cannabis Segment [Member]
Goodwill, gross	2,640,669	2,640,669
Tilray Pharma [Member]
Goodwill, gross	4,458	4,458
Beverage Alcohol Business [Member]
Goodwill, gross	120,802	120,802
Wellness Business [Member]
Goodwill, gross	$ 77,470	$ 77,470

- 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.

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+ Details

Note 10 - Bank Indebtedness (Details Textual) $ in Thousands, $ in Thousands, € in Millions	3 Months Ended
	Aug. 31, 2024 USD ($)	Aug. 31, 2024 CAD ($)	Aug. 31, 2024 EUR (€)
Four Twenty Corporation [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 30,000
Long-Term Line of Credit, Total	$ 10,000
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, Total		$ 0
Line of Credit [Member] \| CC Pharma GmbH [Member]
Line of Credit Facility, Maximum Borrowing Capacity \| €			€ 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
Long-Term Line of Credit, Total	$ 8,134	$ 7,395

Note 3 - Capital Assets (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

Property, Plant and Equipment [Table Text Block]

	*August 31,*			*May 31,*
	*2024*			*2024*
Land	$	45,165		$	45,577
Production facilities		375,345			369,630
Equipment		262,876			258,532
Leasehold improvements		19,463			19,377
Finance lease, right-of-use assets		43,429			43,993
Construction in progress		12,516			10,713
	$	758,794		$	747,822
Less: accumulated amortization		(203,658	)		(189,575	)
Total	$	555,136		$	558,247

Disclosure of Long-Lived Assets Held-for-Sale [Table Text Block]

	*August 31,*		*May 31,*
	*2024*		*2024*
Land	$	970	$	954
Production facility		25,010		24,682
Equipment		6,556		6,438
	$	32,536	$	32,074

Note 23 - Restructuring Charges

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

Note 23. Restructuring charges

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 non-recurring transactions. The Company recognized $4,247 of restructuring charges for the three months ended August 31, 2024 compared to $915 for the prior year period. All restructuring plans are approved at the executive level and their associated expenses are recognized in the period in which the plan has been committed to. All amounts incurred as of August 31, 2024, have been paid.

Within the Cannabis segment, our restructuring costs predominantly related to the HEXO acquisition, which are expected to be completed within 24 months from the original acquisition date in June 2023. In the three months ended August 31, 2024, we recognized $2,582 of employee termination benefits and costs related to the conversion from cannabis to produce at HEXO's Quebec cultivation facility (which is currently held for sale), the optimization of our Redecan facilities, and $255 of restructuring charges related to the remaining costs of exiting the Truss facility following its sale to a third party in the previous fiscal year ended May 31, 2024. Additionally, the Company recognized $82 of cost associated winding down the Fort Collins warehouse currently held for sale.

Within the Distribution segment, the Company recognized $121 of restructuring charges for its Argentinean pharmacy business.

Within the beverage alcohol segment, the Company recognized $123 of employee termination benefits through the integration of the Craft acquisition.

Lastly, for the three months ended August 31, 2024, the Company recognized $1,084 of cost associated with the investment held in Superhero (SH) as a result of MedMen’s ongoing restructuring and/or liquidation undertakings.

Note 20 - Net Revenue (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

Disaggregation of Revenue [Table Text Block]

	*For the three months ended*
	*August 31,*			*August 31,*
	*2024*			*2023*
Beverage alcohol revenue	$	59,163		$	25,339
Beverage alcohol excise taxes		(3,191	)		(1,177	)
Net beverage alcohol revenue		55,972			24,162
Cannabis revenue		81,194			96,884
Cannabis excise taxes		(19,945	)		(26,551	)
Net cannabis revenue		61,249			70,333
Distribution revenue		68,071			69,157
Wellness revenue		14,752			13,297
Total	$	200,044		$	176,949

Note 7 - Business Acquisitions

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Business Combination Disclosure [Text Block]

Note 7. Business acquisitions

Acquisition of Craft Beverage Business Portfolio

On September 29, 2023, Tilray acquired a portfolio of craft brands, assets and businesses comprising eight beer and beverage brands from Anheuser-Busch Companies, LLC, ("AB") including breweries and brewpubs associated with them (the “Craft Acquisition”). The acquired businesses/brands include Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy. The Company paid a total purchase price equivalent of $83,658 in cash, net of a working capital adjustment at closing of $1,342.

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 Craft Acquisition at the effective acquisition date as follows:

	*Amount*
Consideration
Cash consideration	$	83,658
Net assets acquired
Current assets
Cash and cash equivalents		77
Inventory		21,493
Prepaids and other current assets		573
Long-term assets
Capital assets		76,114
Finance lease, right-of-use assets		45,496
Operating lease, right-of-use assets		7,677
Other assets		108
Total assets		151,538
Current liabilities
Accounts payable and accrued liabilities		14,706
Current portion of finance lease liabilities		1,031
Current portion of operating lease liabilities		1,408
Long - term liabilities
Finance lease liabilities		44,465
Operating lease liabilities		6,270
Total liabilities		67,880
Total net assets acquired		83,658

In the event that the Craft Acquisition had occurred on June 1, 2022, the Company would have had, on an unaudited proforma basis, additional net revenue of approximately $nil and $41,000 for the three months ended August 31, 2024 and 2023, respectively, and its consolidated net loss and comprehensive net income would have increased by approximately $nil and $3,000 for the three months ended August 31, 2024 and 2023, respectively. This unaudited pro forma financial information does not reflect the realization of any expected ongoing synergies relating to the integration of the Craft Acquisition.

Note 27 - Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Thousands							3 Months Ended
	Sep. 17, 2024	Sep. 13, 2024	Sep. 12, 2024	Sep. 10, 2024	Sep. 01, 2024	May 30, 2023	Aug. 31, 2024	Aug. 31, 2023	May 31, 2024
Proceeds from Issuance of Common Stock							$ 66,472	$ 0
Repayments of Convertible Debt							$ 330	$ (0)
Common Stock, Par or Stated Value Per Share (in dollars per share)							$ 0.0001		$ 0.0001
TLRY 27 [Member]
Repayments of Convertible Debt						$ 7,500
At-the-Market Program [Member]
Stock Issued During Period, Shares, Equity Financing (in shares)							36,693,307
Payments of Stock Issuance Costs							$ 1,807
Net Proceeds from Issuance of Common Stock							$ 66,472
Subsequent Event [Member] \| Double Diamond Holdings Ltd. [Member]
Asset Acquisition, Acquired Payables	$ 23,792
Stock Issued During Period, Shares, Settlement of Financing Liability (in shares)	13,217,588
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001
Subsequent Event [Member] \| TLRY 27 [Member]
Repayments of Convertible Debt		$ 165,000	$ 7,500
Stock Issued During Period, Shares, For The Repayment of Convertible Debt (in shares)			4,484,240
Interest Paid, Excluding Capitalized Interest, Operating Activities			$ 102
Subsequent Event [Member] \| At-the-Market Program [Member]
Stock Issued During Period, Shares, Equity Financing (in shares)				10,132,247
Proceeds from Issuance of Common Stock				$ 17,059
Payments of Stock Issuance Costs				341
Net Proceeds from Issuance of Common Stock				$ 16,718
Atwater Brewery, Hop Valley Brewing Company, Terrapin Beer Co., and Revolver Brewing [Member] \| Subsequent Event [Member]
Business Combination, Consideration Transferred					$ 23,079

Note 19 - Commitments and Contingencies

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

Note 19. Commitments and contingencies

Purchase and other commitments

The Company has payments on long-term debt, refer to Note 12 (Long-term debt), convertible notes, refer to Note 13 (Convertible debentures payable), material purchase commitments and construction commitments as follows:

	*Total*		*2025*		*2026*		*2027*		*2028*		*Thereafter*
Long-term debt repayment	$	172,215	$	16,072	$	42,563	$	12,604	$	66,762	$	34,214
Convertible debentures payable		172,500		—		—		172,500		—		—
Material purchase obligations		67,142		39,615		27,527		—		—
Construction commitments		431		431		—		—		—		—
Total	$	412,288	$	56,118	$	70,090	$	185,104	$	66,762	$	34,214

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.

There have been no material changes from the legal proceedings since our Annual Report on Form 10-K for the fiscal year ended May 31, 2024, except with respect to the legal proceeding disclosed below that was dismissed with prejudice on September 30, 2024:

Authentic Brands Group Related Class Action (New York, United States)

On May 4, 2020, Ganesh Kasilingam filed a lawsuit in the United States District Court for the Southern District of New York (“SDNY”), against Tilray Brands, Inc., Brendan Kennedy and Mark Castaneda, on behalf of himself and a putative class, seeking to recover damages for alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Kasilingam litigation”). The complaint alleges that Tilray and the individual defendants overstated the anticipated advantages of the Company’s revenue sharing agreement with Authentic Brands Group (“ABG”), announced on January 15, 2019, and that the plaintiff suffered losses when Tilray’s stock price dropped after Tilray recognized an impairment with respect to the ABG deal on March 2, 2020.

On September 27, 2021, the U.S. District Court entered an Opinion & Order granting the Defendants’ motion to dismiss the complaint in the Kasilingam litigation without prejudice. On December 3, 2021, the lead plaintiff filed a second amended complaint alleging similar claims against Tilray and Brendan Kennedy. The Defendants successfully moved to dismiss the second amended complaint on February 2, 2022. In dismissing the second amended complaint, the court granted the Plaintiff leave to amend one final time. On September 27, 2023, the Plaintiff filed its Third Amended Complaint.

On September 30, 2024, the U.S. District Court entered an Opinion & Order granting the Defendants’ motion to dismiss the Third Amended Complaint in the Kasilingam litigation with prejudice.

In the Matter of an Arbitration Between: K. Dickson v. Tilray, Inc.

In 2021, Ms. Dickson, the former President of Manitoba Harvest, a wholly-owned subsidiary of Tilray, commenced an arbitration in Minneapolis, Minnesota against Tilray, alleging that Tilray materially breached her Employment Agreement with Tilray and asserted certain Washington statutory wage claims.

On March 17, 2023, the arbitrator awarded Dickson $3,734 in damages, plus amounts for pre-judgment, and double damages under a Washington state wage payment statute (the “Arbitration Award”). Tilray’s counterclaim was denied by the Arbitrator. On May 23, 2023, the arbitrator issued a supplemental award which provided that Dickson was entitled to recover attorney fees and costs from Tilray in connection with the arbitration. On February 27, 2024, the U.S. District Court for the Western District of Washington dismissed as moot Tilray’s petition to vacate, modify or correct the Arbitration Award, granting Dickson’s responding motion to dismiss on the basis that the U.S. District Court for the Western District of Washington lacked personal jurisdiction over Dickson. On March 15, 2024, Tilray filed its notice of appeal of the decision of the U.S. District Court for the Western District of Washington to the U.S. Court of Appeals for the Ninth Circuit. On August 8, 2024, the District Court in Minnesota confirmed the Arbitration Award. A judgment on the Award was entered by the Court on August 12, 2024, and, following a motion to correct the judgment, became final on September 27, 2024. Tilray filed a notice of appeal to the U.S. Court of Appeals for the Eighth Circuit, which appeal is still pending. The parties are finalizing a settlement of this matter, pursuant to which Tilray intends to pay the amount of the Arbitration Award in satisfaction of the related judgment.

Summary of litigation accruals

As described in Note 11 (Accounts payable and accrued liabilities), the total litigation expense accrual included in accrued liabilities as of August 31, 2024 was equal to $24,413. This accrual is intended to cover various ongoing litigation matters that are currently probable and estimable. For the period ended May 31, 2024, the total litigation expense accrual included in accrued liabilities was $24,378.

Note 2 - Inventory

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Inventory Disclosure [Text Block]

Note 2. Inventory

Inventory consisted of the following:

	*August 31,*		*May 31,*
	*2024*		*2024*
Beverage alcohol inventory		58,784	$	52,831
Plants		16,333		13,828
Dried cannabis		107,290		108,721
Cannabis derivatives		7,306		4,504
Cannabis vapes		4,858		4,132
Packaging and other inventory items		20,270		22,115
Distribution inventory		38,202		35,645
Wellness inventory		11,252		10,311
Total	$	264,295	$	252,087

Note 5 - Intangible Assets- Schedule of Estimated Amortization Expense (Details) $ in Thousands	Aug. 31, 2024 USD ($)
2025 (remaining nine months)	$ 55,822
2026	74,430
2027	74,430
2028	74,430
2029	74,430
Thereafter	369,590
Total	$ 723,132

Note 13 - Convertible Debentures Payable - Net Carrying Amount of Convertible Debentures (Details) - USD ($) $ in Thousands	12 Months Ended
	May 31, 2024	Aug. 31, 2024	May 30, 2023	Apr. 01, 2019
Deduct - current portion	$ 330	$ 0
Total convertible debentures payable, non current portion	129,583	132,650
TLRY 27 [Member]
Carrying amount of long-term debt	129,583	132,650
Face amount	172,500	172,500	$ 172,500
Unamortized discount	(42,917)	(39,850)
Convertible debentures	129,583	132,650
Contractual debenture	172,500	172,500	$ 172,500
APHA 24 [Member]
Carrying amount of long-term debt	330	0
Face amount	350,000			$ 350,000
Convertible debentures	330
Contractual debenture	350,000			$ 350,000
Debt settlement	(349,670)
Fair value adjustment	0
Convertible Debentures [Member]
Carrying amount of long-term debt	$ 129,913	$ 132,650

Significant Accounting Policies (Policies)	3 Months Ended
Significant Accounting Policies (Policies)	Aug. 31, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	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. 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.
Financing Receivable [Policy Text Block]	Convertible notes receivable Convertible notes receivable includes various investments in which the Company has the right, or potential right to convert the indenture into common stock of the investee and are classified as available-for-sale and are recorded at fair value. Unrealized gains and losses during the year, net of the related tax effect, are excluded from income and reflected in other comprehensive income (loss), and the cumulative effect is reported as a separate component of shareholders' equity until realized. We use judgement to assess convertible notes receivables for impairment at each measurement date. Convertible notes receivables are impaired when a decline in fair value is determined to be other-than-temporary, an impairment charge is recorded in the consolidated statements of loss and comprehensive loss and a new cost basis for the investment is established. We also evaluate whether there is a plan to sell the security, or it is more likely than not that we will be required to sell the security before recovery. If neither of the conditions exist, then only the portion of the impairment loss attributable to credit loss is recorded in the statements of loss and the remaining amount is recorded in other comprehensive income (loss).
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 13 (Convertible debentures payable) are excluded from the calculation of basic and diluted earnings per share because the borrower of the shares is required under the share lending arrangement to refund any dividends paid on the shares lent. 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 three months ended August 31, 2024 and August 31, 2023, the dilutive potential common share equivalents outstanding consisted of the following: 23,411,577 and 21,202,933 common shares from RSUs, 3,359,144 and 6,325,348 common shares from share options, 6,210,000 and 7,847,219 common shares for warrants and 64,971,746 and 77,819,141 common shares for convertible debentures, respectively.
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 on or after the effective date of the amendments. The Company is currently evaluating the effect of adopting this ASU. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative, which amends the disclosure or presentation requirements related to various subtopics in the FASB Accounting Standards Codification (the “Codification”). The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. If by June 30, 2027, the SEC has not removed the applicable requirement from Regulation S-X or Regulation S-K, the pending content of the related amendment will be removed from the Codification and will not become effective for any entity. The Company is currently evaluating the effect of adopting this ASU. 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. ASU 2023-09 is effective for the Company beginning with the fiscal year ended June 1, 2025. The Company is currently evaluating the effect of adopting this ASU. New accounting pronouncements recently adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures, which requires public entities to disclose information about their reportable segments’ significant expenses on an interim and annual basis. ASU 2023-07 is effective for the Company beginning with the fiscal year ended May 31, 2025 and will be disclosed retrospectively in the Annual Report on Form 10-K. On March 21, 2024, the FASB issued ASU 2024-01, Compensation—Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards, which adds illustrative examples that demonstrate how the scoping guidance in ASC 718-10-15-3 applies to profits interest or similar awards. The Company adopted ASU 2024-01 beginning with the fiscal year ended June 1, 2024 with no material impacts.

- Definition

Disclosure of accounting policy for financing receivable.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
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-Name Accounting Standards Codification
-Section 50
-Paragraph 4
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-Section 50
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481962/310-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147481962/310-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481962/310-10-50-2

+ Details

Note 7 - Business Acquisitions (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	*Amount*
Consideration
Cash consideration	$	83,658
Net assets acquired
Current assets
Cash and cash equivalents		77
Inventory		21,493
Prepaids and other current assets		573
Long-term assets
Capital assets		76,114
Finance lease, right-of-use assets		45,496
Operating lease, right-of-use assets		7,677
Other assets		108
Total assets		151,538
Current liabilities
Accounts payable and accrued liabilities		14,706
Current portion of finance lease liabilities		1,031
Current portion of operating lease liabilities		1,408
Long - term liabilities
Finance lease liabilities		44,465
Operating lease liabilities		6,270
Total liabilities		67,880
Total net assets acquired		83,658

Note 12 - Long-term Debt - Net Carrying Amount of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Credit Facility Due in November 2025 [Member]
Carrying amount of long-term debt	$ 38,480	$ 39,420
Term Loan Due in July 2033 [Member]
Carrying amount of long-term debt	10,154	10,212
Term Loan Due in July 2033 Two [Member]
Carrying amount of long-term debt	12,406	12,422
Term Loan Due in August 2026 [Member]
Carrying amount of long-term debt	245	263
Mortgage Payable Due in August 2026 [Member]
Carrying amount of long-term debt	2,111	2,089
Term Loan Due in April 2025 [Member]
Carrying amount of long-term debt	320	417
Term Loan Due in August 2028 [Member]
Carrying amount of long-term debt	3,030	3,151
Mortgage Payable Due in October 2030 [Member]
Carrying amount of long-term debt	19,969	20,066
Term Loan Due in June 2028 [Member]
Carrying amount of long-term debt	85,500	86,626
Long-term Debt, Excluding Convertible Debentures [Member]
Carrying amount of long-term debt	172,215	174,666
Unamortized financing fees	(875)	(808)
Net carrying amount	171,340	173,858
Less principal portion included in current liabilities	(16,072)	(15,506)
Total noncurrent portion of long-term debt	$ 155,268	$ 158,352

Note 24 - Non-operating Income (Expense), Net - Components of Non-operating Income (Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Change in fair value of convertible debenture payable	$ 0	$ (2,147)
Change in fair value of warrant liability	696	(8,198)
Foreign exchange gain (loss)	11,881	6,267
Loss on long-term investments	(39)	(109)
Other non-operating (losses) gains, net	108	(215)
Total	$ 12,646	$ (4,402)

Note 8 - Convertible Notes Receivable (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	*August 31,*		*May 31,*
	*2024*		*2024*
MedMen Convertible Note		32,000		32,000
Deduct - current portion		—		—
Total convertible notes receivable, non current portion	$	32,000	$	32,000

Note 7 - Business Acquisitions (Details Textual) - Craft Beverage Business Acquisition [Member] $ in Thousands		3 Months Ended
	Sep. 29, 2023 USD ($)	Aug. 31, 2024 USD ($)	Aug. 31, 2023 USD ($)
Number of Brands Acquired	8
Payments to Acquire Businesses, Gross	$ 83,658
Working Capital Adjustment	$ 1,342
Business Acquisition, Pro Forma Revenue		$ 0	$ 41,000
Business Acquisition, Pro Forma Net Income (Loss)		$ 0	$ 3,000

Note 13 - Convertible Debentures Payable (Details Textual) $ / shares in Units, $ in Thousands		3 Months Ended
	May 30, 2023 USD ($) $ / shares shares	Aug. 31, 2024 USD ($)	Aug. 31, 2023 USD ($)	May 31, 2024 USD ($)	Apr. 01, 2019 USD ($)
Repayments of Convertible Debt		$ 330	$ (0)
Accretion Expense		3,067	5,544
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	376.6478
Debt Instrument, Convertible, Multiples of Principal Amount	$ 1,000
Debt Instrument, Convertible, Conversion Price (in dollars per share) \| $ / shares	$ 2.66
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger	130.00%
Own-share Lending Arrangement, Shares, Issued (in shares) \| shares	38,500,000
Repayments of Convertible Debt	$ 7,500
Interest Expense, Debt		$ 2,243	2,243
Accretion Expense		$ 3,067	$ 2,795
APHA 24 [Member]
Debt Instrument, Face Amount				$ 350,000	$ 350,000
Debt Instrument, Interest Rate, Stated Percentage		5.25%		5.25%	5.25%

Note 15 - Stockholders' Equity (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	May 31, 2024
Common Stock, Shares Authorized (in shares)	1,198,000,000		1,198,000,000
Preferred Stock, Shares Authorized (in shares)	10,000,000		10,000,000
Common Stock, Shares, Issued (in shares)	875,444,828		875,444,828
Preferred Stock, Shares Issued (in shares)	0		0
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture (in shares)	6,826,148
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)	13,054,906	11,559,549
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)	0	7,566,146
At-the-Market Program [Member]
Stock Issued During Period, Shares, Equity Financing (in shares)	36,693,307
Stock Issued During Period, Value, Equity Financing	$ 68,279
Payments of Stock Issuance Costs	1,807
Net Proceeds from Issuance of Common Stock	$ 66,472

Note 12 - Long-term Debt

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Long-Term Debt [Text Block]

Note 12. Long-term debt

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

	*August 31,*			*May 31,*
	*2024*			*2024*
Credit facility - C$66,000 - Canadian prime interest rate plus an applicable margin, 3-year term, with a 10-year amortization, repayable in blended monthly payments, due in November 2025	$	38,480		$	39,420
Term loan - 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		10,154			10,212
Term loan - 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		12,406			12,422
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		245			263
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		2,111			2,089
Term loan ‐ €1,500 ‐ at 2.00%, 5‐year term, repayable in quarterly installments of €94 plus interest, due in April 2025		320			417
Term loan ‐ €3,500 ‐ at 4.59%, 5‐year term, repayable in monthly installments of €52 plus interest, due in August 2028		3,030			3,151
Mortgage payable - $22,635 - EURIBOR rate plus 1.5%, 10-year term, repayable in monthly installments of $57 including interest, due in October 2030		19,969			20,066
Term loan - $90,000 - SOFR plus an applicable margin, 5-year term, repayable in quarterly installments of $875 to $1,750 due in June 2028		85,500			86,626
Carrying amount of long-term debt		172,215			174,666
Unamortized financing fees		(875	)		(808	)
Net carrying amount		171,340			173,858
Less principal portion included in current liabilities		(16,072	)		(15,506	)
Total noncurrent portion of long-term debt	$	155,268		$	158,352

Note 4 - Leases (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

		*August 31,*		*May 31,*
	*Classification on Balance Sheet*	*2024*		*2024*
Assets
Finance lease, right-of-use assets	Capital assets	$	43,429	$	43,993
Operating lease, right-of-use assets	Operating lease, right-of-use assets		17,176		16,101
Total right-of-use asset		$	60,605	$	60,094
Liabilities
Current:
Current portion of finance lease liabilities	Current portion of lease liabilities	$	1,116	$	1,092
Current portion of operating lease liabilities	Current portion of lease liabilities		4,524		3,999
Non-current:
Finance lease liabilities	Lease liabilities		43,737		43,948
Operating lease liabilities	Lease liabilities		16,920		16,474
Total lease liabilities		$	66,297	$	65,513

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

	*Operating*			*Finance*
	*leases*			*leases*
2025	$	4,775		$	3,299
2026		6,089			4,398
2027		5,439			4,398
2028		4,540			4,398
Thereafter		6,139			78,781
Total minimum lease payments	$	26,982		$	95,274
Imputed interest		(5,538	)		(50,421	)
Obligations recognized	$	21,444		$	44,853

Note 13 - Convertible Debentures Payable

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Convertible Debentures [Text Block]

Note 13. Convertible debentures payable

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

	*August 31,*		*May 31,*
	*2024*		*2024*
5.20% Convertible Notes ("TLRY 27")	$	132,650	$	129,583
5.25% Convertible Notes ("APHA 24")		—		330
Total		132,650		129,913
Deduct - current portion		—		330
Total convertible debentures payable, non current portion	$	132,650	$	129,583

TLRY 27 Notes

	*August 31,*			*May 31,*
	*2024*			*2024*
5.20% Contractual debenture	$	172,500		$	172,500
Unamortized discount		(39,850	)		(42,917	)
Net carrying amount	$	132,650		$	129,583

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, including TLRY 23 and APHA 24, 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 will 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 376.6478 shares per $1,000 principal amount of TLRY 27 Notes, which represents a conversion price of approximately $2.66 per share. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events.

The TLRY 27 Notes will be 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 38,500,000 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 38,500,000 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. See Note 27 (Subsequent Events), which discloses the repurchase of $7,500 of TLRY 27 Notes in an exchange transaction.

During the three months ended August 31, 2024, the Company recognized interest expense and accretion of amortized discount of $2,243 and $3,067 respectively. During the three months ended August 31, 2023, the Company recognized interest expense and accretion of amortized discount of $2,243 and $2,795 respectively.

APHA 24 Notes

	*August 31,*		*May 31,*
	*2024*		*2024*
5.25% Contractual debenture	$	—	$	350,000
Debt settlement		—		(349,670	)
Fair value adjustment		—		—
Net carrying amount	$	—	$	330

The APHA 24 convertible debentures, were entered into in April 2019, in the principal amount of $350,000, bore interest at a rate of 5.25% per annum, and were payable semi-annually in arrears on June 1 and December 1 of each year, and matured on June 1, 2024 (the "APHA 24 Notes"). On June 1, 2024, the Company repaid the remaining principal of the APHA 24 Notes in cash upon maturity.

Note 8 - Convertible Notes Receivable

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Note 8. Convertible notes receivable

Convertible notes receivable is comprised of the following:

	*August 31,*		*May 31,*
	*2024*		*2024*
MedMen Convertible Note		32,000		32,000
Deduct - current portion		—		—
Total convertible notes receivable, non current portion	$	32,000	$	32,000

MedMen Convertible Note

On August 31, 2021, the Company issued 9,817,061 shares valued at $117,804 to acquire 68% interest in Superhero Acquisition L.P. (“SH Acquisition”), which purchased a senior secured convertible note issued by MedMen (the "MedMen Convertible Note"), together with certain associated warrants to acquire Class B subordinate voting shares of MedMen, in the principal amount of $165,799. The MedMen Convertible Note bears interest at the Secured Overnight Financing Rate ("SOFR") plus 6%, with a SOFR floor of 2.5% with any accrued interest being added to the outstanding principal amount. The outstanding principal amount, together with accrued interest is to be paid on August 17, 2028, the maturity date of the MedMen Convertible Note. SH Acquisition was also granted “top-up” rights enabling it (and its limited partners) to maintain its percentage ownership (on an “as-converted” basis) in the event that MedMen issues equity securities. SH Acquisition’s ability to convert the MedMen Convertible Note and exercise the Warrants is dependent upon U.S. federal legalization of cannabis or Tilray’s waiver of such requirement as well as any additional regulatory approvals.

During the year ended May 31, 2024, the Company recognized an other-than-temporary change in fair value, which resulted in a non-cash expense of $42,681. The MedMen Convertible Note was valued based upon the fair value of the collateral assets net of disposal costs and has been reduced to reflect recent events, including the appointment of a chief restructuring officer on January 23, 2024 to facilitate MedMen’s anticipated recapitalization and restructuring of operations, filing for insolvency protection in Canada and in California and pending asset sales. There are no additional changes in fair value for the three months ended August 31, 2024.

The Company did not derive any revenue or cash from MedMen's operations, and fully complies with all limitations imposed by applicable U.S. law and regulations in connection with its ownership of the MedMen Convertible Note. In addition, since the fiscal year ended May 31, 2024, the Company has not recognized any interest income on the MedMen Convertible Note, nor did the Company recognize any interest income for the three months ended August 31, 2024, which would have increased its value.

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Current assets
Cash and cash equivalents	$ 205,186	$ 228,340
Marketable securities	74,869	32,182
Accounts receivable, net	104,037	101,695
Inventory	264,295	252,087
Prepaids and other current assets	44,960	31,332
Assets held for sale	32,536	32,074
Total current assets	725,883	677,710
Capital assets	555,136	558,247
Operating lease, right-of-use assets	17,176	16,101
Intangible assets	908,768	915,469
Goodwill	2,009,714	2,008,884
Long-term investments	7,853	7,859
Convertible notes receivable	32,000	32,000
Other assets	5,337	5,395
Total assets	4,261,867	4,221,665
Liabilities, Current [Abstract]
Bank indebtedness	18,134	18,033
Accounts payable and accrued liabilities	236,146	241,957
Contingent consideration	15,000	15,000
Warrant liability	2,557	3,253
Operating and Finance Lease Liability, Current	5,640	5,091
Current portion of long-term debt	16,072	15,506
Deduct - current portion	0	330
Total current liabilities	293,549	299,170
Liabilities, Noncurrent [Abstract]
Operating and Finance Lease Liability, Noncurrent	60,657	60,422
Long-term debt	155,268	158,352
Convertible debentures payable	132,650	129,583
Deferred tax liabilities, net	136,230	130,870
Other liabilities	99	90
Total liabilities	778,453	778,487
Commitments and contingencies (refer to Note 19)
Stockholders' equity
Common stock ($0.0001 par value; 1,198,000,000 common shares authorized; 875,444,828 and 831,925,373 common shares issued and outstanding, respectively)	88	83
Preferred shares ($0.0001 par value; 10,000,000 preferred shares authorized; nil and nil preferred shares issued and outstanding, respectively)	0	0
Additional paid-in capital	6,217,533	6,146,810
Accumulated other comprehensive loss	(39,877)	(43,499)
Accumulated deficit	(2,699,653)	(2,660,488)
Total Tilray Brands, Inc. stockholders' equity	3,478,091	3,442,906
Non-controlling interests	5,323	272
Total stockholders' equity	3,483,414	3,443,178
Total liabilities and stockholders' equity	$ 4,261,867	$ 4,221,665

Note 7 - Business Acquisitions - Assets Acquired and Liabilities Assumed (Details) $ in Thousands	Sep. 29, 2023 USD ($)
Finance lease, right-of-use assets	$ 45,496
Craft Beverage Business Acquisition [Member]
Cash consideration	83,658
Cash and cash equivalents	77
Inventory	21,493
Prepaids and other current assets	573
Capital assets	76,114
Operating lease, right-of-use assets	7,677
Other assets	108
Total assets	151,538
Accounts payable and accrued liabilities	14,706
Current portion of finance lease liabilities	1,031
Current portion of operating lease liabilities	1,408
Finance lease liabilities	44,465
Operating lease liabilities	6,270
Total liabilities	67,880
Total net assets acquired	$ 83,658

Note 3 - Capital Assets - Assets Held for Sale (Details) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Assets, Held for sale	$ 32,536	$ 32,074
Land [Member]
Assets, Held for sale	970	954
Production Facility [Member]
Assets, Held for sale	25,010	24,682
Equipment [Member]
Assets, Held for sale	$ 6,556	$ 6,438

Note 26 - Segment Reporting - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Net revenue	$ 200,044	$ 176,949
Cost of goods sold	140,338	132,753
Gross Profit	59,706	44,196
Cannabis Segment [Member]
Net revenue	61,249	70,333
Cost of goods sold	37,054	50,517
Gross Profit	24,195	19,816
Revenue	81,194	96,884
Excise taxes	(19,945)	(26,551)
Cannabis Segment [Member] \| Medical Cannabis Products [Member]
Revenue	6,261	6,142
Cannabis Segment [Member] \| Adult-use Cannabis Products [Member]
Revenue	57,235	71,195
Cannabis Segment [Member] \| Wholesale Cannabis Products [Member]
Revenue	5,507	5,295
Cannabis Segment [Member] \| International Cannabis Products [Member]
Revenue	12,191	14,252
Beverage Alcohol Business [Member]
Net revenue	55,972	24,162
Cost of goods sold	33,050	11,266
Gross Profit	22,922	12,896
Revenue	59,163	25,339
Excise taxes	(3,191)	(1,177)
Tilray Pharma Segment [Member]
Net revenue	68,071	69,157
Cost of goods sold	60,138	61,468
Gross Profit	7,933	7,689
Wellness Business [Member]
Net revenue	14,752	13,297
Cost of goods sold	10,096	9,502
Gross Profit	$ 4,656	$ 3,795

Note 11 - Accounts Payable and Accrued Liabilities

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

Note 11. Accounts payable and accrued liabilities

Accounts payable and accrued liabilities are comprised of:

	*August 31,*		*May 31,*
	*2024*		*2024*
Trade payables	$	101,868	$	105,392
Accrued liabilities		90,899		92,424
Litigation accrual		24,413		24,378
Accrued payroll and employment related taxes		10,279		6,154
Income taxes payable		973		4,092
Accrued interest		3,359		4,217
Sales taxes payable		4,355		5,300
Total	$	236,146	$	241,957

Note 24 - Non-operating Income (Expense), Net (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

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

	*For the three months ended*
	*August 31,*			*August 31,*
	*2024*			*2023*
Change in fair value of convertible debenture payable	$	—		$	(2,147	)
Change in fair value of warrant liability		696			(8,198	)
Foreign exchange gain (loss)		11,881			6,267
Loss on long-term investments		(39	)		(109	)
Other non-operating (losses) gains, net		108			(215	)
Total	$	12,646		$	(4,402	)

Note 3 - Capital Assets

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

Note 3. Capital assets

Capital assets consisted of the following:

	*August 31,*			*May 31,*
	*2024*			*2024*
Land	$	45,165		$	45,577
Production facilities		375,345			369,630
Equipment		262,876			258,532
Leasehold improvements		19,463			19,377
Finance lease, right-of-use assets		43,429			43,993
Construction in progress		12,516			10,713
	$	758,794		$	747,822
Less: accumulated amortization		(203,658	)		(189,575	)
Total	$	555,136		$	558,247

Assets held for sale consisted of the following:

	*August 31,*		*May 31,*
	*2024*		*2024*
Land	$	970	$	954
Production facility		25,010		24,682
Equipment		6,556		6,438
	$	32,536	$	32,074

During the fiscal year ended May 31, 2024, the Company classified the following assets from its Cannabis reporting segment as held for sale, including its Quebec cultivation facility, the Fort Collins, CO partially vacant warehouse facility, and the Broken Coast former cultivation facility located in Duncan, B.C.. Following an assessment of facility capacity utilization, it was determined that these facilities would be exited and held for sale. It is expected that the sale of these assets will be completed within twelve months from the period in which they were classified as held for sale. Assets held for sale are measured at the lower of carrying amount and their 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, within the line, “Non-operating income (expense), net”.

Note 14 - Warrant Liability

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Warrants [Text Block]

Note 14. Warrant liability

As of August 31, 2024 and May 31, 2024, there were 6,209,000 warrants outstanding, with an original exercise price of $5.95 per warrant, expiring September 17, 2025. Each warrant is exercisable for one common share of the Company.

The warrants contain anti-dilution price protection features, which adjust the exercise price of the warrants if the Company subsequently issues common stock at a price lower than the exercise price of the warrants. In the event additional warrants or convertible debt are issued with a lower and/or variable exercise price, the exercise price of the warrants will be adjusted accordingly. During the nine months ended August 31, 2024, the Company issued shares which triggered the anti-dilution price protection feature lowering the exercise price to $1.61. These warrants are classified as liabilities as they are to be settled in registered shares, and the registration statement is required to be active, unless such shares may be subject to an applicable exemption from registration requirements. The holders, at their sole discretion, may elect to affect a cashless exercise, and be issued exempt securities in accordance with Section 3(a)(9) of the 1933 Act. In the event the Company does not maintain an effective registration statement, the Company may be required to pay a daily cash penalty equal to 1% of the number of shares of common stock due to be issued multiplied by any trading price of the common stock between the exercise date and the share delivery date, as selected by the holder. Alternatively, the Company may deliver registered common stock purchased by the Company in the open market. The Company may also be required to pay cash if it does not have sufficient authorized shares to deliver to the holders upon exercise.

The Company estimated the fair value of warrants outstanding as of August 31, 2024 at $0.412 per warrant using the Black Scholes pricing model (Level 3) with the following assumptions: Risk-free interest rate of 3.23%, expected volatility of 50%, expected term of 1.05 years, strike price of $1.61 and fair value of common stock of $1.71.

Expected volatility is based on both historical and implied volatility of the Company’s common stock.

Note 10 - Bank Indebtedness

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Short-Term Debt [Text Block]

Note 10. 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 August 31, 2024, 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 in the amounts of €7,000 and €500. These lines bear interest at Euro Short-Term Rate ("ESTR") plus 2.50% and Euro Interbank Offered Rate ("EURIBOR") plus 4.00%, respectively. As of August 31, 2024, a total of €7,395 ($8,134) was drawn down from the total 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.

American Beverage Crafts Group Inc. ("ABC Group"), a subsidiary of the Company, has a revolving credit facility of $30,000, which bears interest at SOFR plus an applicable margin. As of August 31, 2024, the Company has drawn down $10,000 on the revolving line of credit. The revolving credit facility is secured by ABC Group's assets and includes a corporate guarantee by a subsidiary of the Company.

Note 9 - Long-term Investments - Schedule of Long-term Investments (Details) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Equity investments measured at fair value	$ 2,353	$ 2,359
Equity investments under measurement alternative	5,500	5,500
Total	$ 7,853	$ 7,859

Note 11 - Accounts Payable and Accrued Liabilities - Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Trade payables	$ 101,868	$ 105,392
Accrued liabilities	90,899	92,424
Litigation accrual	24,413	24,378
Accrued payroll and employment related taxes	10,279	6,154
Income taxes payable	973	4,092
Accrued interest	3,359	4,217
Sales taxes payable	4,355	5,300
Total	$ 236,146	$ 241,957

Note 25 - Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis - Reconciliation of Level 3 Assets and Liabilities (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands	3 Months Ended
	Aug. 31, 2024 USD ($)
Equity Investments [Member]
Balance	$ 5,500
Additions/(Repayments)	0
Redemption	0
Unrealized gain (loss) on fair value	0
Impairments	0
Balance	5,500
Warrant Liability [Member]
Balance	(3,253)
Additions/(Repayments)	0
Redemption	0
Unrealized gain (loss) on fair value	696
Impairments	0
Balance	(2,557)
Contingent Consideration [Member]
Balance	(15,000)
Additions/(Repayments)	0
Redemption	0
Unrealized gain (loss) on fair value	0
Impairments	0
Balance	(15,000)
Long-Term Debt [Member] \| APHA 24 [Member]
Balance	(330)
Additions/(Repayments)	330
Redemption	0
Unrealized gain (loss) on fair value	0
Impairments	0
Balance	0
Notes Receivable [Member]
Balance	32,000
Additions/(Repayments)	0
Redemption	0
Unrealized gain (loss) on fair value	0
Impairments	0
Balance	$ 32,000

Note 17 - Non-controlling Interests (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

Condensed Balance Sheet [Table Text Block]

	SH		*CC Pharma*			*Aphria*			*ColCanna*			*August 31,*
	*Acquisition*		*Nordic ApS*			*Diamond*			*S.A.S.*			*2024*
Current assets	$	—	$	14		$	108,030		$	11		$	108,055
Non-current assets		32,000		—			123,694			3,355			159,049
Current liabilities		—		(17	)		(133,014	)		(6,993	)		(140,024	)
Non-current liabilities		—		—			(23,359	)		(1,451	)		(24,810	)
Net assets	$	32,000	$	(3	)	$	75,351		$	(5,078	)	$	102,270

	SH		*CC Pharma*			*Aphria*			*ColCanna*			*May 31,*
	*Acquisition*		*Nordic ApS*			*Diamond*			*S.A.S.*			*2024*
Current assets	$	—	$	12		$	95,720		$	3		$	95,735
Non-current assets		32,000		—			124,675			3,637			160,312
Current liabilities		—		(9	)		(130,945	)		(6,913	)		(137,867	)
Non-current liabilities		—		—			(24,482	)		(1,452	)		(25,934	)
Net assets	$	32,000	$	3		$	64,968		$	(4,725	)	$	92,246

Condensed Income Statement [Table Text Block]

	SH			*CC Pharma*			*Aphria*			*ColCanna*			*August 31,*
	*Acquisition*			*Nordic ApS*			*Diamond*			*S.A.S.*			*2024*
Revenue	$	—		$	—		$	18,558		$	—		$	18,558
Total expenses		—			5			9,216			630			9,851
Net (loss) income		—			(5	)		9,342			(630	)		8,707
Other comprehensive (loss) income		—			(1	)		1,041			277			1,317
Net comprehensive (loss) income	$	—		$	(6	)	$	10,383		$	(353	)	$	10,024
Non-controlling interest %		32	%		25	%		49	%		10	%	NA
Comprehensive (loss) income attributable to NCI		—			(2	)		5,088			(35	)		5,051
Net comprehensive (loss) income attributable to NCI	$	—		$	(2	)	$	5,088		$	(35	)	$	5,051

	SH			*CC Pharma*			*Aphria*			*ColCanna*			*August 31,*
	*Acquisition*			*Nordic ApS*			*Diamond*			*S.A.S.*			*2023*
Revenue	$	—		$	—		$	39,230		$	—		$	39,230
Total expenses		—			35			15,636			216			15,887
Net (loss) income		—			(35	)		23,594			(216	)		23,343
Other comprehensive (loss) income		—			(20	)		533			(345	)		168
Net comprehensive (loss) income	$	—		$	(55	)	$	24,127		$	(561	)	$	23,511
Non-controlling interest %		32	%		25	%		49	%		10	%	NA
Comprehensive (loss) income attributable to NCI		—			(14	)		11,822			(56	)		11,752
Additional income attributable to NCI		—			—			4,070			—			4,070
Net comprehensive (loss) income attributable to NCI	$	—		$	(14	)	$	15,892		$	(56	)	$	15,822

Note 12 - Long-term Debt - Net Carrying Amount of Long-term Debt Instruments (Details) (Parentheticals) € in Thousands, $ in Thousands, $ in Thousands	3 Months Ended			12 Months Ended
	Aug. 31, 2024 USD ($)	Aug. 31, 2024 CAD ($)	Aug. 31, 2024 EUR (€)	May 31, 2024 USD ($)	May 31, 2024 CAD ($)	May 31, 2024 EUR (€)	Aug. 31, 2024 CAD ($)	Aug. 31, 2024 EUR (€)	May 31, 2024 CAD ($)	May 31, 2024 EUR (€)
Credit Facility Due in November 2025 [Member]
Face amount							$ 66,000		$ 66,000
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	Nov. 30, 2025	Nov. 30, 2025	Nov. 30, 2025	Nov. 30, 2025	Nov. 30, 2025	Nov. 30, 2025
Term Loan Due in July 2033 [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
Term Loan Due in July 2033 [Member] \| Prime Rate [Member]
Variable rate	1.00%	1.00%	1.00%	1.00%	1.00%	1.00%
Term Loan 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
Variable rate	1.00%	1.00%	1.00%	1.00%	1.00%	1.00%
Periodic payment		$ 196			$ 196
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 April 2025 [Member]
Face amount \| €								€ 1,500		€ 1,500
Term (Year)	5 years	5 years	5 years	5 years	5 years	5 years
Maturity	Apr. 30, 2025	Apr. 30, 2025	Apr. 30, 2025	Apr. 30, 2025	Apr. 30, 2025	Apr. 30, 2025
Periodic payment \| €			€ 94			€ 94
Rate	2.00%			2.00%			2.00%	2.00%	2.00%	2.00%
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
Periodic payment	$ 57			$ 57
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	$ 1,750			$ 1,750

Note 17 - Non-controlling Interests - Summary of Income Statement Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Net (loss) income	$ (34,652)	$ (55,863)
Other comprehensive (loss) income	4,160	3,209
Net comprehensive (loss) income	(30,492)	(52,654)
Comprehensive (loss) income attributable to NCI	5,051	15,822
Subsidiaries [Member]
Revenue	18,558	39,230
Total expenses	9,851	15,887
Net (loss) income	8,707	23,343
Other comprehensive (loss) income	1,317	168
Net comprehensive (loss) income	10,024	23,511
Comprehensive (loss) income attributable to NCI	5,051	11,752
Net comprehensive (loss) income attributable to NCI	5,051	15,822
Additional income attributable to NCI		4,070
Superhero Acquisition LP [Member]
Revenue	0	0
Total expenses	0	0
Net (loss) income	0	0
Other comprehensive (loss) income	0	0
Net comprehensive (loss) income	$ 0	$ 0
Non-controlling interest %	32.00%	32.00%
Comprehensive (loss) income attributable to NCI	$ 0	$ 0
Net comprehensive (loss) income attributable to NCI	0	0
Additional income attributable to NCI		0
CC Pharma Nordic ApS [Member]
Revenue	0	0
Total expenses	5	35
Net (loss) income	(5)	(35)
Other comprehensive (loss) income	(1)	(20)
Net comprehensive (loss) income	$ (6)	$ (55)
Non-controlling interest %	25.00%	25.00%
Comprehensive (loss) income attributable to NCI	$ (2)	$ (14)
Net comprehensive (loss) income attributable to NCI	(2)	(14)
Additional income attributable to NCI		0
Aphria Diamond [Member]
Revenue	18,558	39,230
Total expenses	9,216	15,636
Net (loss) income	9,342	23,594
Other comprehensive (loss) income	1,041	533
Net comprehensive (loss) income	$ 10,383	$ 24,127
Non-controlling interest %	49.00%	49.00%
Comprehensive (loss) income attributable to NCI	$ 5,088	$ 11,822
Net comprehensive (loss) income attributable to NCI	5,088	15,892
Additional income attributable to NCI		4,070
ColCanna S.A.S. [Member]
Revenue	0	0
Total expenses	630	216
Net (loss) income	(630)	(216)
Other comprehensive (loss) income	277	(345)
Net comprehensive (loss) income	$ (353)	$ (561)
Non-controlling interest %	10.00%	10.00%
Comprehensive (loss) income attributable to NCI	$ (35)	$ (56)
Net comprehensive (loss) income attributable to NCI	$ (35)	(56)
Additional income attributable to NCI		$ 0

Note 14 - Warrant Liability (Details Textual) - $ / shares	Aug. 31, 2024	May 31, 2024
Class of Warrant or Right, Outstanding (in shares)	6,209,000	6,209,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 5.95	$ 5.95
Percentage of Daily Cash Penalty	1.00%
Fair Value, Inputs, Level 3 [Member]
Estimated Fair Value of Warrant Liability Per Warrant (in dollars per share)	$ 0.412
Fair Value, Inputs, Level 3 [Member] \| Measurement Input, Risk Free Interest Rate [Member]
Warrants and Rights Outstanding, Measurement Input	3.23
Fair Value, Inputs, Level 3 [Member] \| Measurement Input, Price Volatility [Member]
Warrants and Rights Outstanding, Measurement Input	0.50
Fair Value, Inputs, Level 3 [Member] \| Measurement Input, Expected Term [Member]
Warrants and Rights Outstanding, Measurement Input	1.05
Fair Value, Inputs, Level 3 [Member] \| Measurement Input, Conversion Price [Member]
Warrants and Rights Outstanding, Measurement Input	1.61
Fair Value, Inputs, Level 3 [Member] \| Measurement Input, Share Price [Member]
Warrants and Rights Outstanding, Measurement Input	1.71
Maximum [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 1.61
Warrants to Purchase Common Stock [Member]
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)	1	1

Note 21 - Cost of Goods Sold

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Cost of Goods Sold [Text Block]

Note 21. Cost of goods sold

Cost of goods sold is comprised of:

	*For the three months ended*
	*August 31,*		*August 31,*
	*2024*		*2023*
Beverage alcohol costs	$	33,050	$	11,266
Cannabis costs		37,054		50,517
Distribution costs		60,138		61,468
Wellness costs		10,096		9,502
Total	$	140,338	$	132,753

Note 17 - Non-controlling Interests - Summary of Balance Sheet Information (Details) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Current assets	$ 725,883	$ 677,710
Current liabilities	(293,549)	(299,170)
Superhero Acquisition LP [Member]
Current assets	0	0
Non-current assets	32,000	32,000
Current liabilities	0	0
Non-current liabilities	0	0
Net assets	32,000	32,000
CC Pharma Nordic ApS [Member]
Current assets	14	12
Non-current assets	0	0
Current liabilities	(17)	(9)
Non-current liabilities	0	0
Net assets	(3)	3
Aphria Diamond [Member]
Current assets	108,030	95,720
Non-current assets	123,694	124,675
Current liabilities	(133,014)	(130,945)
Non-current liabilities	(23,359)	(24,482)
Net assets	75,351	64,968
ColCanna S.A.S. [Member]
Current assets	11	3
Non-current assets	3,355	3,637
Current liabilities	(6,993)	(6,913)
Non-current liabilities	(1,451)	(1,452)
Net assets	(5,078)	(4,725)
Subsidiaries [Member]
Current assets	108,055	95,735
Non-current assets	159,049	160,312
Current liabilities	(140,024)	(137,867)
Non-current liabilities	(24,810)	(25,934)
Net assets	$ 102,270	$ 92,246

Note 15 - Stockholders' Equity - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Stock-based compensation expense	$ 6,917	$ 8,257
Restricted Stock Units (RSUs) [Member]
Stock-based compensation expense	$ 6,917	$ 8,257

Note 25 - Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis - Inputs Used to Recognize Unrealized Gain (Loss) on Fair Value (Details) - Minimum [Member]	Aug. 31, 2024
Valuation Technique, Option Pricing Model [Member] \| Measurement Input, Expected Term [Member]
Debt instrument, measurement input
Warrant liability	1
Valuation Technique, Option Pricing Model [Member] \| Measurement Input, Price Volatility [Member]
Warrant liability	0.50
Valuation Technique, Option Pricing Model [Member] \| Measurement Input, Conversion Rate [Member]
Contingent consideration	1
Valuation Technique, Discounted Cash Flow [Member] \| Measurement Input, Discount Rate [Member]
Contingent consideration	0.11

Note 19 - Commitments and Contingencies (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

Contractual Obligation, Fiscal Year Maturity [Table Text Block]

	*Total*		*2025*		*2026*		*2027*		*2028*		*Thereafter*
Long-term debt repayment	$	172,215	$	16,072	$	42,563	$	12,604	$	66,762	$	34,214
Convertible debentures payable		172,500		—		—		172,500		—		—
Material purchase obligations		67,142		39,615		27,527		—		—
Construction commitments		431		431		—		—		—		—
Total	$	412,288	$	56,118	$	70,090	$	185,104	$	66,762	$	34,214

Note 9 - Long Term Investments (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

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

	*August 31,*		*May 31,*
	*2024*		*2024*
Equity investments measured at fair value	$	2,353	$	2,359
Equity investments under measurement alternative		5,500		5,500
Total	$	7,853	$	7,859

Note 25 - Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Equity investments measured at fair value	$ 2,353	$ 2,359
Contingent consideration	(15,000)	(15,000)
Fair Value, Recurring [Member]
Cash and cash equivalents	205,186	228,340
Marketable securities	74,869	32,182
Convertible notes receivable	32,000	32,000
Equity investments measured at fair value	7,853	7,859
Warrant liability	(2,557)	(3,253)
Contingent consideration	(15,000)	(15,000)
Total recurring fair value measurements	302,351	281,798
Fair Value, Recurring [Member] \| APHA 24 [Member]
APHA 24 Convertible debenture	0	(330)
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	205,186	228,340
Marketable securities	74,869	32,182
Convertible notes receivable	0	0
Equity investments measured at fair value	891	919
Warrant liability	0	0
Contingent consideration	0	0
Total recurring fair value measurements	280,946	261,441
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| APHA 24 [Member]
APHA 24 Convertible debenture	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents	0	0
Marketable securities	0	0
Convertible notes receivable	0	0
Equity investments measured at fair value	1,462	1,440
Warrant liability	0	0
Contingent consideration	0	0
Total recurring fair value measurements	1,462	1,440
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| APHA 24 [Member]
APHA 24 Convertible debenture	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents	0	0
Marketable securities	0	0
Convertible notes receivable	32,000	32,000
Equity investments measured at fair value	5,500	5,500
Warrant liability	(2,557)	(3,253)
Contingent consideration	(15,000)	(15,000)
Total recurring fair value measurements	19,943	18,917
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| APHA 24 [Member]
APHA 24 Convertible debenture	$ 0	$ (330)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Cash provided by (used in) operating activities:
Net (loss) income	$ (34,652)	$ (55,863)
Adjustments for:
Deferred income tax expense, net	382	59
Unrealized foreign exchange (gain) loss	(5,602)	(3,127)
Amortization	31,814	30,789
Accretion of convertible debt discount	3,067	5,544
Other non-cash items	729	(6,357)
Stock-based compensation	6,917	8,257
(Gain) loss on long-term investments & equity investments	(499)	47
Loss on derivative instruments	(696)	10,345
Change in fair value of contingent consideration	0	(11,107)
Change in non-cash working capital:
Accounts receivable	(2,342)	13,044
Prepaids and other current assets	(13,570)	(4,654)
Inventory	(12,383)	3,650
Accounts payable and accrued liabilities	(8,472)	(6,469)
Net cash used in operating activities	(35,307)	(15,842)
Cash provided by (used in) investing activities:
Investment in capital and intangible assets	(6,736)	(4,152)
Proceeds from disposal of capital and intangible assets	28	342
Disposal (purchase) of marketable securities, net	(42,687)	(45,436)
Business acquisitions, net of cash acquired	0	22,956
Net cash provided by (used in) investing activities	(49,395)	(26,290)
Cash provided by (used in) financing activities:
Share capital issued, net of cash issuance costs	66,472	0
Proceeds from long-term debt	0	7,621
Repayment of long-term debt	(4,791)	(6,369)
Proceeds from convertible debt	0	21,553
Repayment of convertible debt	(330)	0
Repayment of lease liabilities	(862)	0
Net increase (decrease) in bank indebtedness	101	(8,787)
Net cash provided by (used in) financing activities	60,590	14,018
Effect of foreign exchange on cash and cash equivalents	958	614
Net decrease in cash and cash equivalents	(23,154)	(27,500)
Cash and cash equivalents, beginning of period	228,340	206,632
Cash and cash equivalents, end of period	$ 205,186	$ 179,132

Note 6 - Goodwill (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

Schedule of Goodwill [Table Text Block]

	*August 31,*			*May 31,*
Reporting Unit	*2024*			*2024*
Cannabis	$	2,640,669		$	2,640,669
Distribution		4,458			4,458
Beverage alcohol		120,802			120,802
Wellness		77,470			77,470
Effect of foreign exchange		8,746			7,916
Impairments		(842,431	)		(842,431	)
Total	$	2,009,714		$	2,008,884

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: 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 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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

Reference 12: 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

+ Details

Note 4 - Leases - Schedule of Maturity (Details) $ in Thousands	Aug. 31, 2024 USD ($)
2025, operating	$ 4,775
2025, finance	3,299
2026, operating	6,089
2026, finance	4,398
2027, operating	5,439
2027, finance	4,398
2028, operating	4,540
2028, finance	4,398
Thereafter, operating	6,139
Thereafter, finance	78,781
Total minimum lease payments, operating	26,982
Total minimum lease payments	95,274
Imputed interest, operating	(5,538)
Imputed interest	(50,421)
Obligations recognized, operating	21,444
Obligations recognized	$ 44,853

Note 18 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Income Tax Expense (Benefit)	$ 886	$ 7,264

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: 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 2: 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 3: 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 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
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-Subparagraph (a)
-SubTopic 20
-Topic 740
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Note 26 - Segment Reporting (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	*For the three months ended*
	*August 31,*		*August 31,*
	*2024*		*2023*
Beverage alcohol
Net beverage alcohol revenue	$	55,972	$	24,162
Beverage alcohol costs		33,050		11,266
Beverage alcohol gross profit		22,922		12,896
Cannabis
Net cannabis revenue		61,249		70,333
Cannabis costs		37,054		50,517
Cannabis gross profit		24,195		19,816
Distribution
Distribution revenue		68,071		69,157
Distribution costs		60,138		61,468
Distribution gross profit		7,933		7,689
Wellness
Wellness revenue		14,752		13,297
Wellness costs		10,096		9,502
Wellness gross profit	$	4,656	$	3,795

	For the three months ended
	August 31,			August 31,
	2024			2023
Revenue from Canadian medical cannabis	$	6,261		$	6,142
Revenue from Canadian adult-use cannabis		57,235			71,195
Revenue from wholesale cannabis		5,507			5,295
Revenue from international cannabis		12,191			14,252
Less excise taxes		(19,945	)		(26,551	)
Total	$	61,249		$	70,333

Revenue from External Customers by Geographic Areas [Table Text Block]

	*For the three months ended*
	*August 31,*		*August 31,*
	*2024*		*2023*
USA	$	63,880	$	31,489
Canada		55,905		62,032
EMEA		77,672		79,704
Rest of World		2,587		3,724
Total	$	200,044	$	176,949

Long-Lived Assets by Geographic Areas [Table Text Block]

	*August 31,*		*May 31,*
	*2024*		*2024*
USA	$	140,900	$	141,314
Canada		312,432		313,359
EMEA		98,433		99,921
Rest of World		3,371		3,653
Total	$	555,136	$	558,247

Note 2 - Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Inventory	$ 264,295	$ 252,087
Beverage Alcohol Inventory [Member]
Inventory	58,784	52,831
Plants [Member]
Inventory	16,333	13,828
Dried Cannabis [Member]
Inventory	107,290	108,721
Cannabis Derivatives [Member]
Inventory	7,306	4,504
Cannabis Vapes [Member]
Inventory	4,858	4,132
Packaging and Other Inventory Items [Member]
Inventory	20,270	22,115
Distribution Inventory [Member]
Inventory	38,202	35,645
Wellness Inventory [Member]
Inventory	$ 11,252	$ 10,311

Note 8 - Convertible Notes Receivable (Details Textual) - USD ($) $ in Thousands		3 Months Ended
	Aug. 31, 2021	Aug. 31, 2024
MM Notes [Member]
Financing Receivable, before Allowance for Credit Loss, Total	$ 165,799
Notes Receivable, Interest Rate, Basis Spread on Variable Rate	6.00%
Notes Receivable, SOFR Floor	2.50%
Other-than-temporary Fair Value Loss, Convertible Notes Receivable		$ 42,681
MM Notes [Member] \| Convertible Debt [Member]
Interest Income, Purchased Receivables		$ 0
Superhero Acquisition LP [Member]
Noncontrolling Interest, Ownership Percentage by Parent	68.00%	68.00%
The MM Notes and MM Warrants [Member]
Stock Issued During Period, Shares, Acquisitions (in shares)	9,817,061
Stock Issued During Period, Value, Acquisitions	$ 117,804

Note 6 - Goodwill

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Goodwill Disclosure [Text Block]

Note 6. Goodwill

The following table shows the carrying amount of goodwill by reporting units:

	*August 31,*			*May 31,*
Reporting Unit	*2024*			*2024*
Cannabis	$	2,640,669		$	2,640,669
Distribution		4,458			4,458
Beverage alcohol		120,802			120,802
Wellness		77,470			77,470
Effect of foreign exchange		8,746			7,916
Impairments		(842,431	)		(842,431	)
Total	$	2,009,714		$	2,008,884

Note 20 - Net Revenue

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

Note 20. Net revenue

The Company reports net revenue in four reporting segments: beverage alcohol, cannabis, distribution, and wellness.

Net revenue is comprised of:

	*For the three months ended*
	*August 31,*			*August 31,*
	*2024*			*2023*
Beverage alcohol revenue	$	59,163		$	25,339
Beverage alcohol excise taxes		(3,191	)		(1,177	)
Net beverage alcohol revenue		55,972			24,162
Cannabis revenue		81,194			96,884
Cannabis excise taxes		(19,945	)		(26,551	)
Net cannabis revenue		61,249			70,333
Distribution revenue		68,071			69,157
Wellness revenue		14,752			13,297
Total	$	200,044		$	176,949

- 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 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

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

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: 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 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Note 15 - Stockholders' Equity (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]

	*For the three months ended*
	*August 31,*		*August 31,*
	*2024*		*2023*
RSUs		6,917		8,257
Total	$	6,917	$	8,257

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Aug. 31, 2024	Oct. 08, 2024
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	Q1
Document Fiscal Year Focus	2025
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 31, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		903,286,257

Note 16 - Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

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


	*Foreign*
	*currency*
	*translation*
	*gain (loss)*			*Total*
Balance May 31, 2023	$	(46,610	)	$	(46,610	)
Other comprehensive loss		3,049			3,049
Balance August 31, 2023	$	(43,561	)	$	(43,561	)

Balance May 31, 2024	$	(43,499	)	$	(43,499	)
Other comprehensive loss		3,622			3,622
Balance August 31, 2024	$	(39,877	)	$	(39,877	)

Note 5 - Intangible Assets (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	*August 31,*			*May 31,*
	*2024*			*2024*
Customer relationships & distribution channel	$	609,728		$	603,939
Licenses, permits & applications		371,507			368,057
Non-compete agreements		12,441			12,403
Intellectual property, trademarks, knowhow & brands		616,721			608,672
		1,610,397		$	1,593,071
Less: accumulated amortization		(285,785	)		(261,758	)
Less: impairments		(415,844	)		(415,844	)
Total	$	908,768		$	915,469

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

	*Amortization*
2025 (remaining nine months)	$	55,822
2026		74,430
2027		74,430
2028		74,430
2029		74,430
Thereafter		369,590
Total	$	723,132

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Aug. 31, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	Item 5. Other Information. In July 2024, the Board of Directors of the Company approved fiscal year 2025 retention payments to the Company’s senior executives (the “Executives”) in the amounts set forth in the Company’s Annual Report on Form 10-K, filed on July 30, 2024. The retention payments were made in August 2024 pursuant to a form of “Executive Retention Agreements” entered into with each senior executive. The Company amended and restated its form of “Executive Retention Agreements” on August 15, 2024. Pursuant to the terms of amended Executive Retention Agreement, such retention payments require continued employment for a period of time that was amended to commence on August 15, 2024, and continuing through the extended period of August 31, 2025 (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, 2025, 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 amended and restated Executive Retention Agreement is filed as an exhibit to this Form 10-Q.
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 4 - Leases - Lease Related Assets and Liabilities (Details) - USD ($) $ in Thousands	Aug. 31, 2024	May 31, 2024
Finance lease, right-of-use assets	$ 43,429	$ 43,993
Operating lease, right-of-use assets	17,176	16,101
Total right-of-use asset	60,605	60,094
Current portion of finance lease liabilities	1,116	1,092
Current portion of operating lease liabilities	4,524	3,999
Finance lease liabilities	43,737	43,948
Operating lease liabilities	16,920	16,474
Total lease liabilities	$ 66,297	$ 65,513

Note 21 - Cost of Goods Sold - Components of Cost of Goods Sold (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Cost of goods sold	$ 140,338	$ 132,753
Beverage Alcohol Business [Member]
Cost of goods sold	33,050	11,266
Cannabis Segment [Member]
Cost of goods sold	37,054	50,517
Distribution Business [Member]
Cost of goods sold	60,138	61,468
Wellness Business [Member]
Cost of goods sold	$ 10,096	$ 9,502

Note 9 - Long Term Investments

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Investment [Text Block]

Note 9. Long term investments

Long term investments consisted of the following:

	*August 31,*		*May 31,*
	*2024*		*2024*
Equity investments measured at fair value	$	2,353	$	2,359
Equity investments under measurement alternative		5,500		5,500
Total	$	7,853	$	7,859

Note 21 - Cost of Goods Sold (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

Schedule of Cost of Goods Sold [Table Text Block]

	*For the three months ended*
	*August 31,*		*August 31,*
	*2024*		*2023*
Beverage alcohol costs	$	33,050	$	11,266
Cannabis costs		37,054		50,517
Distribution costs		60,138		61,468
Wellness costs		10,096		9,502
Total	$	140,338	$	132,753

Note 22 - General and Administrative Expenses

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

General and Administrative Expenses [Text Block]

Note 22. General and administrative expenses

General and administrative expenses are comprised of:

	*For the three months ended*
	*August 31,*			*August 31,*
	*2024*			*2023*
Salaries and wages	$	21,567		$	16,775
Office and general		9,260			8,168
Stock-based compensation		6,917			8,257
Insurance		2,455			3,849
Professional fees		1,178			1,499
(Gain) loss on sale of capital assets		(26	)		3
Travel and accommodation		1,493			1,107
Rent		1,269			858
Total	$	44,113		$	40,516

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	HEXO Acquisition [Member] Common Stock and Preferred Stock [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]	TLRY 27 [Member] Common Stock and Preferred Stock [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]	Common Stock and Preferred Stock [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													656,655,455
Balance at May. 31, 2023													$ 66	$ 5,777,743	$ (46,610)	$ (2,415,507)	$ 14,251	$ 3,329,943
Share issuance (in shares)	39,705,962
Share issuance	$ 4	$ 65,158	$ 0	$ 0	$ 0	$ 65,162
Share issuance - acquisition settlement (in shares)													865,426
Share issuance - acquisition settlement													$ 0	1,500	0	0	0	1,500
Share issuance - Double Diamond Holdings dividend settlement (in shares)													5,004,735
Share issuance - Double Diamond Holdings dividend settlement													$ 0	8,146	0	0	0	8,146
Share issuance (in shares)													17,148,541
Share issuance - HTI convertible note													$ 2	49,998	0	0	0	50,000
Share issuance - RSUs exercised (in shares)													3,912,481
Share issuance - RSUs exercised													$ 0	0	0	0	0	0
Shares effectively repurchased for employee withholding tax													0	(4,860)	0	0	0	(4,860)
Equity component related to issuance of convertible debt, net of issuance costs							$ 0	$ 3,953	$ 0	$ 0	$ 0	$ 3,953
Stock-based compensation													0	8,257	0	0	0	8,257
Dividends declared to non-controlling interests													0	0	0	0	(7,891)	(7,891)
Comprehensive income (loss) for the period													$ 0	0	3,049	(71,525)	15,822	(52,654)
Balance (in shares) at Aug. 31, 2023													723,292,600
Balance at Aug. 31, 2023													$ 72	5,909,895	(43,561)	(2,487,032)	22,182	3,401,556
Net comprehensive (loss) income													$ 0	0	3,049	(71,525)	15,822	(52,654)
Balance (in shares) at May. 31, 2024													831,925,373
Balance at May. 31, 2024													$ 83	6,146,810	(43,499)	(2,660,488)	272	3,443,178
Share issuance - RSUs exercised (in shares)													6,823,140
Share issuance - RSUs exercised													$ 1	(1)	0	0	0	0
Shares effectively repurchased for employee withholding tax													0	(2,661)	0	0	0	(2,661)
Stock-based compensation													0	6,917	0	0	0	6,917
Comprehensive income (loss) for the period													$ 0	0	3,622	(39,165)	5,051	(30,492)
Balance (in shares) at Aug. 31, 2024													875,444,828
Balance at Aug. 31, 2024													$ 88	6,217,533	(39,877)	(2,699,653)	5,323	3,483,414
Share issuance - At-the-Market (“ATM”) program (in shares)													36,693,307
Share issuance - At-the-Market (“ATM”) program													$ 4	66,468	0	0	0	66,472
Share issuance - options exercised (in shares)													3,008
Share issuance - options exercised													$ 0	0	0	0	0	0
Net comprehensive (loss) income													$ 0	$ 0	$ 3,622	$ (39,165)	$ 5,051	$ (30,492)

Note 12 - Long-term Debt (Tables)

3 Months Ended

Aug. 31, 2024

Notes Tables

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

	*August 31,*			*May 31,*
	*2024*			*2024*
Credit facility - C$66,000 - Canadian prime interest rate plus an applicable margin, 3-year term, with a 10-year amortization, repayable in blended monthly payments, due in November 2025	$	38,480		$	39,420
Term loan - 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		10,154			10,212
Term loan - 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		12,406			12,422
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		245			263
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		2,111			2,089
Term loan ‐ €1,500 ‐ at 2.00%, 5‐year term, repayable in quarterly installments of €94 plus interest, due in April 2025		320			417
Term loan ‐ €3,500 ‐ at 4.59%, 5‐year term, repayable in monthly installments of €52 plus interest, due in August 2028		3,030			3,151
Mortgage payable - $22,635 - EURIBOR rate plus 1.5%, 10-year term, repayable in monthly installments of $57 including interest, due in October 2030		19,969			20,066
Term loan - $90,000 - SOFR plus an applicable margin, 5-year term, repayable in quarterly installments of $875 to $1,750 due in June 2028		85,500			86,626
Carrying amount of long-term debt		172,215			174,666
Unamortized financing fees		(875	)		(808	)
Net carrying amount		171,340			173,858
Less principal portion included in current liabilities		(16,072	)		(15,506	)
Total noncurrent portion of long-term debt	$	155,268		$	158,352

- 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.

+ References

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+ Details

Note 17 - Non-controlling Interests

3 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Noncontrolling Interest Disclosure [Text Block]

Note 17. Non-controlling interests

The following tables summarize the information relating to the following subsidiaries of the Company in which there is non-controlling interest; SH Acquisition (68%), CC Pharma Nordic ApS (75%), Aphria Diamond (51%), and ColCanna S.A.S. (90%) before intercompany eliminations.

Summary of balance sheet information of the entities in which there is a non-controlling interest as of August 31, 2024:

	SH		*CC Pharma*			*Aphria*			*ColCanna*			*August 31,*
	*Acquisition*		*Nordic ApS*			*Diamond*			*S.A.S.*			*2024*
Current assets	$	—	$	14		$	108,030		$	11		$	108,055
Non-current assets		32,000		—			123,694			3,355			159,049
Current liabilities		—		(17	)		(133,014	)		(6,993	)		(140,024	)
Non-current liabilities		—		—			(23,359	)		(1,451	)		(24,810	)
Net assets	$	32,000	$	(3	)	$	75,351		$	(5,078	)	$	102,270

Summary of balance sheet information of the entities in which there is a non-controlling interest as of May 31, 2024:

	SH		*CC Pharma*			*Aphria*			*ColCanna*			*May 31,*
	*Acquisition*		*Nordic ApS*			*Diamond*			*S.A.S.*			*2024*
Current assets	$	—	$	12		$	95,720		$	3		$	95,735
Non-current assets		32,000		—			124,675			3,637			160,312
Current liabilities		—		(9	)		(130,945	)		(6,913	)		(137,867	)
Non-current liabilities		—		—			(24,482	)		(1,452	)		(25,934	)
Net assets	$	32,000	$	3		$	64,968		$	(4,725	)	$	92,246

Summary of income statement information of the entities in which there is a non-controlling interest for the three months ended August 31, 2024:

	SH			*CC Pharma*			*Aphria*			*ColCanna*			*August 31,*
	*Acquisition*			*Nordic ApS*			*Diamond*			*S.A.S.*			*2024*
Revenue	$	—		$	—		$	18,558		$	—		$	18,558
Total expenses		—			5			9,216			630			9,851
Net (loss) income		—			(5	)		9,342			(630	)		8,707
Other comprehensive (loss) income		—			(1	)		1,041			277			1,317
Net comprehensive (loss) income	$	—		$	(6	)	$	10,383		$	(353	)	$	10,024
Non-controlling interest %		32	%		25	%		49	%		10	%	NA
Comprehensive (loss) income attributable to NCI		—			(2	)		5,088			(35	)		5,051
Net comprehensive (loss) income attributable to NCI	$	—		$	(2	)	$	5,088		$	(35	)	$	5,051

Summary of income statement information of the entities in which there is a non-controlling interest for the three months ended August 31, 2023:

	SH			*CC Pharma*			*Aphria*			*ColCanna*			*August 31,*
	*Acquisition*			*Nordic ApS*			*Diamond*			*S.A.S.*			*2023*
Revenue	$	—		$	—		$	39,230		$	—		$	39,230
Total expenses		—			35			15,636			216			15,887
Net (loss) income		—			(35	)		23,594			(216	)		23,343
Other comprehensive (loss) income		—			(20	)		533			(345	)		168
Net comprehensive (loss) income	$	—		$	(55	)	$	24,127		$	(561	)	$	23,511
Non-controlling interest %		32	%		25	%		49	%		10	%	NA
Comprehensive (loss) income attributable to NCI		—			(14	)		11,822			(56	)		11,752
Additional income attributable to NCI		—			—			4,070			—			4,070
Net comprehensive (loss) income attributable to NCI	$	—		$	(14	)	$	15,892		$	(56	)	$	15,822

Note 20 - Net Revenue - Components of Net Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Net revenue	$ 200,044	$ 176,949
Beverage Alcohol Business [Member]
Revenue	59,163	25,339
Excise taxes	(3,191)	(1,177)
Net revenue	55,972	24,162
Cannabis Segment [Member]
Revenue	81,194	96,884
Excise taxes	(19,945)	(26,551)
Net revenue	61,249	70,333
Tilray Pharma Segment [Member]
Net revenue	68,071	69,157
Wellness Business [Member]
Net revenue	$ 14,752	$ 13,297