Canadian Cannabis News

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

Published

5 months 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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Canadian Cannabis Sales Marched Higher in March – New Cannabis Ventures

Published

3 weeks ago

May 23, 2026

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Canadian Cannabis Sales Marched Higher in March – New Cannabis Ventures

Statistics Canada released March retail sales for the country, with Cannabis sales are on the rise from the level of February, increasing by 7.4% compared to the previous month and making C$471.4 million. Sequential growth was down 4.0% on a daily basis due to fewer days in the previous month. February, originally reported at C$440.5 million, was revised lower to C$439.1 million. Sales rose 6.2% in March from a year ago, down 7.6% from the previous month, and 8.3% in May and 7.5% in June, but better than last year’s slowest growth rate since legalization of -0.9% in September 2024 due to the BC strike. Total sales are expected to increase by 4.5% to C$5.39 billion in 2024 and by 4.1% to C$5.62 billion in 2025. So far in 2026, sales are up 7.7%.

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 rose 14.1% from February and 4% from a year ago. Alberta was up 9.1% from February, but down 3% from last year. British Columbia was down 12.6% from February and up 25% from a year ago, while Quebec was up 10.4% from February and up 2% from a year ago.

April sales data will be released on June 19.

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.

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

Cannabis Stock Q1 Financial Reports Were Not the Story – New Cannabis Ventures

Published

4 weeks ago

May 15, 2026

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Cannabis Stock Q1 Financial Reports Were Not the Story – New Cannabis Ventures

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,

Many more cannabis companies reported Q1 financials this week. While NCV did not run any of those press releases, all data has been updated in the New Cannabis Ventures Public Cannabis Company Revenue & Income Tracker. The largest companies reporting in US dollars all reported, and the eleven companies that reported for the Q1 ended in March (excluding Tilray Brands, which is due to report its Q4 later this month) saw an average year-over-year revenue increase of 31% in their cannabis businesses.

Excluding Vireo Growth, that average comes to -0.7%, which is lower, especially after accounting for inflation, and a sign of continued challenges for the hemp industry. Speaking of Vireo, I’ve pointed out how investors didn’t care, and they still don’t. An average of just 375,000 shares traded per day over the past month, and the stock, which closed at $0.415, continues to trade off the level of its late 2024 capital raise and the price at which the company issued shares to make multiple acquisitions.

April was a big month for hemp stocks, but prices fell in May. The NCV Global Cannabis Stock Index rose 8.8% to 5.70 in April, but fell 2.8% to 5.54 in May. The year-to-year change of this index, which now covers 23 stocks, was -15.9%. Since its peak in early 2021, the GCSI is down 94%. Many are excited about the medical cannabis realignment that took place in April, although it remains unclear whether cannabis will be completely overhauled. The Department of Justice will hold hearings in late June to discuss adult-use cannabis, and it could be. If so, 280E tax would be removed, and this would be very good. I’ve written a lot about this since late 2022 when I highlighted it The potential end of 280E as a major catalyst.

The investor base in cannabis stocks has shrunk due to capital losses and fewer people interested in the sector. Institutions were more interested in high prices and maybe they would enter the field. 280E remains a big story, and not only is it being delayed by the limited realignment that’s already been completed, it’s unclear how unpaid taxes from the last few years will be treated.

NCV has stopped publishing most cannabis news, although we continue to update the financial calendar as well as the earnings rankings. After more than 10 years with NCV and more than a dozen years with 420 Investor, I am in the process of moving on. This is probably the last weekly newsletter. I’ve appreciated sharing the news and my views here, and I want to wish everyone the best. Hopefully, 280E taxation will be fully completed and the bear market that began in early 2021 for the hemp sector will be over.

Sincerely,

Alan:

Contact us acquire NCV assets or a website domain

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

Exclusives

Michigan cannabis sales are down again

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

Stay on top of the most important communications from public companies by watching what’s coming cannabis investor calendar.

280E

Cannabis Stocks Are Going Nowhere Quickly – New Cannabis Ventures

Published

1 month ago

May 7, 2026

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Cannabis Stocks Are Going Nowhere Quickly – New Cannabis Ventures

friends,

The New Cannabis Ventures Global Cannabis Stock Index edged up slightly in May, rising 1.1% to 5.76. Compared to the previous year, it decreased by 12.6%. The index, recalculated as of the end of the first quarter, is up 9.9% so far in the second quarter, lagging the S&P 500’s 12.8% gain. Here are the earnings of the 23 names currently in the index (SMG was dropped in late April after the sale of Hawthorne Gardening):

MSOs are very much higher as the rally approaches the discussion of the big transformation announcements on 4/22 and beyond. There are currently six MSOs and two of them have been promoted. The rest rose, and the average of the six was 38.1%. The AdvisorShares Pure US Cannabis ETF ( MSOS ) has rallied 48.5% since the end of March and is now up 11.7% year-to-date in 2026. Both GCSI names have fallen sharply, and the index has a total of seven double-digit gains in Q2, with six MSOs and Canopy holding investments. 14 of the 23 names returned less than GCSI.

As readers are probably aware, the US reclassified medical cannabis from Schedule I to Schedule III on 4/23, and that will go away. 280E tax for some of the businesses of cannabis companies. The Department of Justice will hold a hearing in late June to determine possible rezoning for adult use. If it passes, all 280E taxation will end, which is a good thing for cannabis companies and their investors, as well as the subsidiaries that serve them. It is not yet known what the outcome will be, and it is not yet known how past 280E taxes that have not been paid but are carried as liabilities (and not debt) will be handled. Also, there is no conclusion yet on SECURITY banking or the possibility of a raise.

NCV has stopped publishing news, although we continue to update the financial calendar as well as the earnings rankings. After more than 10 years with NCV and more than a dozen years with 420 Investor, I am in the process of moving on. I’ve appreciated sharing the news and my views here, and I want to wish everyone the best. Hopefully, the 280E taxation will end and the bear market that started in early 2021 for the hemp sector will come to an end.

Sincerely,

Alan:

This week’s newsletter is sponsored by the Paul E. Saperstein Co.

Massachusetts hemp production equipment for sale

On May 12, Middlesex Integrative Medicine, Inc.’s equipment is being auctioned online in Leominster, Massachusetts at 10:00 a.m. ET. All applications must be submitted online. Learn more Of the secured party’s sale of all assets of this cultivation equipment.

Interested parties may contact Paul Cotto at 617-227-6553 or email pcotto@pesco.com:.

New Cannabis Ventures publishes curated articles as well as exclusive news. Here is what we have published in the last 2 weeks.

Exclusives

Sales of Canadian hemp continued in February

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

Stay on top of the most important communications from public companies by watching what’s coming cannabis investor calendar.