Tilray Brands, Inc. (NASDAQ:TLRY) jumped 18.02% in premarket trading on Thursday after the company delivered stronger-than-expected first-quarter fiscal 2026 results, marking a return to profitability and record revenue.
The cannabis and beverage producer reported breakeven earnings per share of $0.00 for the quarter ended August 31, beating the analyst consensus of -$0.04. Revenue climbed to a record $209.5 million, above expectations of $204.58 million and up 5% from $200 million in the same quarter a year earlier. Tilray also posted a net income of $1.5 million, a sharp turnaround from a net loss of $34.7 million in the prior-year period.
“As we enter fiscal 2026, Tilray’s first quarter results underscore the effectiveness of our strategic vision and disciplined execution,” said Irwin D. Simon, Chairman and Chief Executive Officer. “Achieving a record Q1 net revenue of $210 million, delivering net income, and fortifying our balance sheet are not just milestones, they are proof points of our commitment to building sustainable growth.”
Canadian adult-use cannabis gross revenue rose 12% year over year, reinforcing Tilray’s #1 market position and helping expand its share. International cannabis sales climbed 10%, while adjusted EBITDA increased 9% to $10.2 million from $9.3 million in the same quarter last year.
Tilray also strengthened its financial position, closing the quarter with $265 million in cash and reducing net debt to $4 million. Operating cash outflow decreased significantly, falling by $34 million year over year to $1.3 million.
The company reaffirmed its fiscal 2026 adjusted EBITDA guidance of $62 million to $72 million, signaling confidence in sustaining profitability and growth despite a challenging cannabis industry backdrop.
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