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Tilray Brands Reports Record Net Revenue

Tilray Brands Inc. has reported strong financial results for the first quarter of fiscal 2026, with record net revenue of $210 million. The company achieved significant operational efficiencies and a focus on profitability, resulting in net income of $1.5 million. Adjusted EBITDA also increased by 9% to $10 million compared to the prior year period.

In terms of specific business segments, Canadian adult-use cannabis gross revenue increased by 12%, maintaining the company's position as the top revenue generator and expanding its market share. International cannabis revenue also grew by 10% year-over-year.

The balance sheet has shown significant strength, with $265 million in cash and a reduction of net debt to $4 million.

Key financial highlights from the first quarter compared to the prior year period include: Net revenue increased by 5% to $209.5 million. Gross profit was $57.5 million, down from $59.7 million. Cannabis net revenue increased by 5% to $64.5 million. Beverage net revenue was $55.7 million. Wellness net revenue increased to $15.2 million. Distribution net revenue was $74.0 million.

Notably, the company reported a net income of $1.5 million in the first quarter compared to a net loss of $(34.7) million in the prior year period. Adjusted net income also increased to $3.9 million from an adjusted net loss of $(6.1) million.

Cash flow from operations improved significantly by $34.0 million to $(1.3) million from $(35.3) million. Furthermore, Tilray reduced its total outstanding debt by $7.7 million, strengthening the balance sheet and reducing the ratio of net debt to trailing twelve months adjusted EBITDA to 0.07x.

Tilray Brands is reiterating its fiscal year 2026 adjusted EBITDA outlook of $62 million – $72 million. The company's chairman and CEO, Irwin D. Simon, expressed confidence in Tilray's ability to capitalize on opportunities in the evolving global cannabis, beverage, and wellness sectors.

Investors can access a live webcast to discuss these results on the company’s investor relations website. Tilray Brands, Inc. is a leading global lifestyle and consumer packaged goods company with operations in various countries. Following these announcements, the company's shares moved 0.58%, and are now trading at a price of $1.72. For more information, read the company's full 8-K submission here.

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