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NEW YORK - On Thursday, Tilray Brands, Inc. (NASDAQ:TLRY) reported better-than-expected first quarter fiscal 2026 results, swinging to a profit while posting record Q1 revenue that exceeded analyst expectations.
The global cannabis and beverage company’s shares surged 18.02% in pre-market trading after the release.
The company reported breakeven earnings per share of $0.00 for the quarter ended August 31, beating analyst estimates of -$0.04. Revenue reached a record $209.5 million, surpassing the consensus estimate of $204.58 million and representing a 5% increase from $200 million in the same quarter last year. Notably, Tilray achieved net income of $1.5 million compared to 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."
The company’s Canadian adult-use cannabis gross revenue increased 12% YoY, helping Tilray maintain its #1 position in revenue and expand market share. International cannabis revenue grew 10% compared to the same period last year. Adjusted EBITDA rose 9% to $10.2 million from $9.3 million in the year-ago quarter.
Tilray significantly improved its balance sheet, ending the quarter with $265 million in cash and reducing net debt to just $4 million. The company also improved its cash flow, with cash used in operations decreasing by $34 million YoY to $1.3 million.
The cannabis giant reiterated its fiscal year 2026 adjusted EBITDA outlook of $62 million to $72 million, signaling confidence in continued profitability growth despite challenges in the cannabis sector.
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