Canadian Cannabis News

Tilray Brands Reports Q2 Cannabis Revenue Grew 5% – New Cannabis Ventures

Published

4 weeks ago

January 8, 2026

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Tilray Cannabis Sales Fall 5% Sequentially in Q1 – New Cannabis Ventures

Tilray Brands Delivers Record Q2 FY2026 Net Income of $218 Million, Moves to Net Cash Position and Reaffirms Full-Year Adjusted EBITDA Guidance.

International Medical Cannabis Revenue Increases 36%; Cannabis income by Canadian adults increased by 6%
Tilray Pharma achieves record quarterly revenue
US Federal Cannabis Reregulation Expected to Open New Market Opportunity for Tilray’s Medical Expansion in the US
Strong financial position with $292 million in cash and marketable securities¹ and ~$30 million in net cash

NEW YORK and LONDON and LEAMINGTON, Ontario, Jan. 08, 2026 (GLOBE NEWSWIRE) — Tilray Brands, Inc. (“Tilray,” “our,” “we” or the “Company”) (Nasdaq: TLRY; TSX: TLRY), a global lifestyle and consumer packaged goods company, a leader in the cannabis, beverage and health industries, today reported financial results for its second fiscal quarter ended November 30, 2025.

Irwin D. Simon, Chairman and Chief Executive Officer, commented: “We delivered another record quarter with net revenue of $218 million driven by orderly execution across our diversified portfolio spanning the cannabis, beverage, health and distribution industries. Our business model supports our scalability, market value creation, adaptability as well as long-term performance. Strengthening our core operations The quarter ended with a strong balance sheet and strong liquidity, underscoring our prudent financial management and giving us the flexibility to make selective investments in strategic growth initiatives.

Mr. Simon continued. “We believe federal realignment will mark an important step forward for medical cannabis in the United States, paving the way for more research, broader physician involvement, and better patient access. Tilray has invested over the years in developing the infrastructure, expertise and discipline necessary to operate successfully in the highly regulated medical markets. With a key role in building a responsible, research-oriented national medical cannabis industry with the team and platform already in place with Tilray Medical US, we intend to leverage the infrastructure, expertise and knowledge developed with Tilray Medical’s expected $150 million medical cannabis business and our new $300 million Tilray Pharma medical distribution platform. trials and partnerships for product development”.

_________________________
_{¹Cash and marketable securities and net (borrowed) cash are non-GAAP financial measures. See “Use of Non-GAAP Measures” below for further discussion of these non-GAAP measures and a reconciliation of this non-GAAP measure to our most comparable GAAP measure.}

Financial milestones
_{All comparisons with the previous year period}

Net income rose 3% in the second quarter to $217.5 million from $211.0 million.
Gross profit in the second quarter was 57.5 million dollars, against 61.2 million dollars.
Gross margin was 26% in the second quarter, up from 29%.
Cannabis net revenue increased 3% to $67.5 million in the second quarter, compared to $65.7 million, driven by 36% growth in international cannabis and 6% growth in Canadian adult cannabis, offset by a lower presence of Canadian bulk cannabis in anticipation of deployment in international markets.
- Cannabis’ gross profit rose to $26.1 million in the second quarter, up from $23.2 million.
- In the second quarter, hemp gross margin increased to 39% from 35%.
Beverage net revenue in the second quarter was $50.1 million, compared to $63.1 million.
- Beverages gross profit in the second quarter was $15.7 million, compared to $25.2 million.
- Beverages gross margin was 31% in the second quarter, up from 40%.
Wellness net income was flat at $14.6 million in the second quarter.
- Wellness’s gross profit rose to $4.6 million in the second quarter from $4.5 million.
- Health’s gross margin increased to 32% from 31% in the second quarter.
Net distribution income, which includes Tilray Pharma, increased to our highest revenue quarter ever to $85.3 million in the second quarter, up from $67.6 million in the second quarter.
- The distribution’s gross profit increased to $11.0 million in the second quarter, compared to $8.4 million.
- In the second quarter, gross distribution margin increased to 13% from 12%.
Second-quarter net loss improved to $43.5 million from $41.8 million, compared to a net loss of $85.3 million, and second-quarter net loss per share improved to $0 ($0.41) from $0.99.
Adjusted net loss² and adjusted net loss per share2 improved to $(2.0) million and $(0.02) in the second quarter, compared to $(0.02) and adjusted net loss of $(2.2) million and $(0.03). Excluding non-cash income tax charges, adjusted net income and adjusted net income per share would have been $1.6 million and $0.01.
Adjusted EBITDA³ was $8.4 million in the second quarter, compared to $9.0 million.

Cash flows. Cash used in operations improved from $32.2 million to $8.5 million from $40.7 million.

Balance update. In the second quarter, we increased our cash and marketable securities balance to $291.6 million, providing flexibility for strategic opportunities. In addition, we reduced our total outstanding debt by $4.2 million, further strengthening the balance sheet.

Net (debit) Cash position. Our Q1 net debt position of $3.8 million improved sequentially by $31.2 million to a total net cash position of $27.4 million.

Adjusted EBITDA guidance for fiscal 2026 restated to $62 million – $72 million

Original press release

Published by NCV Newswire

New Cannabis Ventures’ NCV Newswire aims to gather high-quality content and information about leading cannabis companies to help our readers filter through the noise and stay on top of the most important cannabis business news. The NCV Newswire is edited by an editor and is not, however, automated. Got a secret news tip? Get in touch.

Related Topics:BRANDS Cannabis Grew Reports Revenue Tilray Ventures

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Cannabis Stocks Rally Begin 2026 Badly – New Cannabis Ventures

Published

5 days ago

January 30, 2026

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Cannabis Stocks Rocketed Higher in August – New Cannabis Ventures

Hemp stocks, as measured by the Global Hemp Stock Index, were quite volatile in 2024 and then again in 2025 as well. Although the index rose in December, it fell on the year. In January, the indicator decreased by 10.6%, reaching 5.89.

After collapsing 21.8% in late 2024 to 6.88 in Q4, the index fell heavily in Q1 and then marginally in Q2. The global hemp stock index, which now has 27 members, gained 53.0% in the third quarter but fell 14.2% in the fourth quarter, down 4.2% for the full year.

Since its peak in February 2021, the global hemp stock index is down 93.6% from a closing high of 92.48.

The 3 strongest names in January, each an MSO, were all up more than 4%;

January’s 3 weakest names are all down more than 26%;

Akanda (NASDAQ: WILL). -44.0%
iPower: (NASDAQ: IPW). -42.0%
RHYTHM (Name: RYM). -26.0%

We will summarize the performance of the index again in a month. In April, we historically combined the two articles, and we update here the other indexes that New Cannabis Ventures continues to maintain: the American Cannabis Operator Index, the Ancillary Cannabis Index, and the Canadian Cannabis LP Index.

American Hemp Operator Index

The ACOI sank in January, falling 12.5% to 11.53. In 2025, it increased by 57.7%, reaching 13.18. The large AdvisorShares Pure US Cannabis ETF ( MSOS ) fell 14.6% in January.

The strongest stock in January was Glass House Brands, which rose 4.0%. The weakest, Trulieve (OTC: TCNNF ), fell 20.5%.

The index will have nine members in February with the removals of Ascend Wellness (OTC: AAWH ) and Grown Rogue ( GRUSF ).

Auxiliary cannabis index

Ancillary commodities lost 5.9% in January as the index fell to 10.44. In 2025, the indicator decreased by 19.5%, reaching 11.09.

January’s strongest stock was Turning Point Brands, which rose 21.8%. The weakest iPower fell by 42.0%.

In February, the index will have the same ten members.

Canadian Hemp LP Index

Canadian LPs fell 4.9% in January as the index fell to 56.13. In 2025, the indicator increased by 17.8%, reaching 59.01.

Canada’s strongest LP in January was Simply Solventless Concentrates (TSXV: HASH ), up 28.6%. Tilray Brands (TSX: TLRY ) was the weakest, down 18.0%.

In February, the index will have the same thirteen members.

Based in Houston, Alan leverages his experience as an online community founder 420 Investorthe first and still the largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. time New Cannabis Ventureshe is responsible for content development and strategic alliances. Before turning his attention to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst with more than two decades of research and portfolio management experience. A prolific writer, with over 650 articles published since 2007 Looking for Alphawhere he has 70,000 followers, Alan is a frequent speaker at industry conferences and frequent source Media including the NY Times, Wall Street Journal, Fox Business and Bloomberg TV. Contact Alan. Twitter: |: Facebook |: LinkedIn: |: El

In this article.

Aaaaaah, WILL, Akanda, rise to health, blue, glass house brands, grown up bastard, grosf, HASH:, capacity, ipw:, power, rhythm, Scotts Miracle-Gro, Simply unsolvable, smg, tcnnf:, Tilray brands, TLRY:, TPB:, Trulul, to truly believe, Revolving brands

ACB

Canadian Cannabis Sales Lifted in November – New Cannabis Ventures

Published

2 weeks ago

January 23, 2026

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Canadian Cannabis Sales Grew Slowly in June – New Cannabis Ventures

On January 23, 2026 at 8:45 AM

Statistics Canada has released November retail sales for the country, with Cannabis sales are on the rise up 6.6% from October levels to C$477.9 million. This sequential increase is up 10.2% on a daily basis, driven by fewer days compared to the previous month. October, originally reported at C$451.7 million, was revised slightly lower to C$448.5 million. It was hit by a strike in British Columbia in October. Sales rose 4.6% in November from a year earlier, up from 8.3% in May, up from 7.5% in June and 6.2% in September. This was also lower than the 20.3% growth rate in August 2023 and better than the lowest growth rate in the previous year since the start of legalization, which started at -0.9% in September 2024 and then -1.6% in October due to the BC strike, and it was significantly down from the 9.1% growth in December. August’s record level was only 1.8% higher than last year’s index. Total sales are expected to grow 4.5% to C$5.39 billion in 2024 and 4.2% year-to-date in 2025.

An increase in the number of shops, as well as a fall in the prices of flowers that attract consumers from the illegal market, have boosted sales. In Ontario, the most populous province, sales fell 5.2% from October and 3% from a year ago. Alberta was down 5.5% from October and 2% from a year ago. British Columbia, which was down 55.0% sequentially in October and 54% year-over-year, was up 250% sequentially in October and 9% year-over-year, while Quebec was down 4.1% in October and 31% year-over-year.

December sales data will be released on February 20.

In this article.

ACB:, Alberta, Dawn cannabis, British Columbia, Canopy growth, CGC:, RELIGION:, Cronos Group:, high tide, heat, BREAD, Ontario, Organization chart, Quebec, SNDL:, sundial, Tilray brands, TLRY:, VFF:, Farms, MOGET:

280E

Cautious Cannabis Investors – New Cannabis Ventures

Published

3 weeks ago

January 15, 2026

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You are reading this week’s edition of New Cannabis Ventures, a weekly magazine we have published since October 2015. The newsletter includes unique insight to help our readers stay ahead of the curve, as well as links to the most important news of the week. We no longer email them like we used to, but post this and all newsletters on our website here.

friends,

With the first month of the year almost half over, the Global Hemp Stock Index rose 0.3% to 6.61. While that’s better than cash, it lags the S&P 500, which gained 1.2%, and notably the Russell 2000, which gained 6.9%.

The global hemp stock index has been in decline over the past five years, falling 4.2% in 2025, its best annual performance since a recent surge in 2020. The hemp industry is so down and should be rallying, but most bets on that outcome have lost money.

The index was recalculated at year-end, with three stocks exiting and two entering, leaving the index with 27 stocks. So far in 2026, 17 are up, with double-digit percentage gains, and 10 are down, including three that are down more than 20%. Here is a table that includes all the companies and some additional information:

The average market cap is $1.1 billion. MSOS is up 4.7% year-to-date, and the index contains 7 MSOs, all of which have gained. The last column shows that five of these seven have negative tangible book value, suggesting potential downside risk for those with significant debt.

I keep a close eye on 16 of the 27 names. Canopy Growth, Cresco Labs, Cronos Group, Curaleaf, GrowGeneration, Green Thumb Industries, Innovative Industrial Properties, WM Technology, Organigram, Chicago Atlantic Real Estate Finance, Scotts Miracle-TilrayrA BTrumsndce, Villa Verano. I’ve covered most of the others and written about RYTHM and SNDL on Seeking Alpha.

The drops include two recent additions that got me thinking more about inclusion rules. These two as well as others have very low market caps. They all met the minimum price rule and minimum average daily trading value criteria, and they are in the cannabis sector. The next rebalance, which will take place in March, may include some new rules.

The overall stock market is on the rise, but hemp stocks are still not catching the attention of investors. Shares in the index, up just 0.3% year to date, are trading near their 50-day and 150-day moving averages. MSOs are helping the market so far, while several stocks are hurting it. My model portfolio in the 420 Investor, which did very well in 2025, is outperforming the index so far in 2026. I’m very underweight MSOs relative to the index, own two, slightly overweight Canadian LPs (three names) and have a large overweight in ancillaries (four names). The model portfolio had 19% cash on 1/14.

The cannabis industry suffers from slow growth, increased competition, a slowdown in adult-use states, an uncertain regulatory environment at the federal level, and many unfair taxes (280E) Hopefully things will improve in 2026.

Sincerely,

Alan:

New Cannabis Ventures publishes curated articles as well as exclusive news. Here is what we published last week.

Exclusives

Michigan hemp sales were soft in December

Financial statements

Tilray Brands reports cannabis revenue up 5% in Q2

Follow Alan for real-time updates X.com:. Share and discover industry news with like-minded people on the largest group of cannabis investors and entrepreneurs LinkedIn:.

View: Public Hemp Company Revenue and Earnings Trackingwhich ranks the highest-earning hemp stocks.

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