Tilray Brands Inc. Reports Record Q1 Fiscal 2026 Revenue and Turned Profitable
Tilray Brands Inc. (NASDAQ: TLRY) disclosed its fiscal first‑quarter 2026 results on Thursday, October 9, 2025. The company reported a net revenue of $210 million, a record for the quarter, and a net income of $1.5 million, marking a return to profitability after a consolidation year.
Financial Highlights
| Item | Q1 2026 | YoY Change |
|---|---|---|
| Net revenue | $210 million | +5 % |
| Net income | $1.5 million | First profit after prior losses |
| Adjusted EBITDA | $10 million | +9 % |
| Net cash used in operations | $34 million | Improvement over previous year |
The earnings report was accompanied by a price‑to‑earnings ratio of –0.739, reflecting the recent shift to profitability.
Market Reaction
Shares of Tilray surged 16 % in the session following the release, lifting the stock from its 52‑week low of $0.485 to near its 52‑week high of $2.62. The upward momentum extended beyond the cannabis sector, with the stock joining other high‑profile names such as Byrna Technologies and Delta Air Lines on the market.
Despite the rally, a segment of investors expressed caution. A “Sell (D–)” rating was issued by Weiss Ratings, and some option traders noted a downside skew in the options data. Nevertheless, the company’s guidance for adjusted EBITDA remained steady at $62 million–$72 million for fiscal 2026, reflecting ongoing integration of its international cannabis and beverage businesses.
Strategic Developments
Tilray highlighted several operational efficiencies that contributed to the improved financial position. The company has also reduced its net debt to $4 million US, strengthening its balance sheet.
In addition to the financial performance, Tilray’s Q1 earnings call emphasized continued growth in its cannabis segment and a strategic focus on profitability across all business units.
Conclusion
Tilray Brands’ record Q1 revenue and return to profitability signal a positive trajectory for the company amid a consolidating industry. The strong earnings, coupled with a clear guidance outlook and improved debt profile, have driven investor confidence and a notable rise in the share price.
