Aaron Grey

Pablo Zuanic

Matt Bottomley

Michael Lavery

Robert Moskow

Bill Kirk

Frederico Yokota Gomes

Kaumil Gajrawala

Frederico Gomes

Nicholas Anderson

William Kirk

Xin Ma

- Tilray Brands celebrated the **seventh anniversary** of cannabis legalization in Canada on **October 17, 2025**, having invested over **C$1 billion** in Canadian infrastructure and paid approximately **C$700 million** in excise taxes since legalization on **October 17, 2018**.  **[1731348_15196ad9a6c24e9e9d758ccffaa2d8b8_0]** 
- In **Q1FY26**, Tilray's Canadian Cannabis business delivered strong results, reinforcing its position as Canada's **largest legal cannabis company by revenue**.  **[1731348_15196ad9a6c24e9e9d758ccffaa2d8b8_1]** 
- The company holds the **#1 sales position** in pre-rolls, beverages, oils, and chocolate edibles, and became #1 in flower by the end of Q1FY26, with its XMG and Mollo brands commanding over **40% market share** in THC beverages.  **[1731348_15196ad9a6c24e9e9d758ccffaa2d8b8_1]** 
- Tilray operates **5 million square feet** of advanced cannabis cultivation facilities with a current production of **210 metric tons**.  **[1731348_15196ad9a6c24e9e9d758ccffaa2d8b8_2]**

Tilray Brands Highlights Market Leadership in Canadian Cannabis on Legalization Anniversary

- **Tilray Medical**, a division of Tilray Brands, Inc., announced plans to **expand its medical cannabis operations into Panama**.  **[1731348_cb30b7953a3c4285b81c1a0456c01e99_0]** 
- This expansion is facilitated through a **joint venture with Top Tech Global Inc.**, forming Solana Life Group.  **[1731348_cb30b7953a3c4285b81c1a0456c01e99_0]** 
- The joint venture company has received a **medical cannabis license** in Panama, authorizing the cultivation, manufacturing, import, export, distribution, and sale of medical cannabis.  **[1731348_cb30b7953a3c4285b81c1a0456c01e99_0]** 
- Tilray Medical intends to leverage its global expertise and Top Tech's local knowledge to launch and distribute medical cannabis products, aiming to **enhance patient access** and provide a comprehensive portfolio of cannabinoid-based therapies in Panama.  **[1731348_cb30b7953a3c4285b81c1a0456c01e99_0]**

Tilray Medical Expands into Panama

- Tilray Brands reported **record net revenue of $210,000,000** for Q1 2026, a **5% increase** year over year, with **net income of $1,500,000** and **$0.00 earnings per share**.  **[0001731348_2174159_1]** **[0001731348_2174159_6]** 
- The company achieved **adjusted EBITDA of $10,200,000** and reaffirmed its 2026 guidance for adjusted EBITDA between **$62,000,000 and $72,000,000**.  **[0001731348_2174159_7]** 
- Cannabis revenue increased **5%** year over year to **$64,500,000**, driven by **double-digit growth** in Canadian adult use and international cannabis, while distribution revenue grew **9%** to **$74,000,000**.  **[0001731348_2174159_1]** **[0001731348_2174159_2]** **[0001731348_2174159_3]** **[0001731348_2174159_6]** 
- Tilray strengthened its balance sheet by reducing outstanding debt by **$7,700,000** and ended the quarter with **$265,000,000 in cash** and cash equivalents.  **[0001731348_2174159_1]** **[0001731348_2174159_7]**  The company is also positioning for a potential **$300,000,000 to $500,000,000** opportunity in the U.S. medical cannabis market upon rescheduling.  **[0001731348_2174159_2]**

Tilray Brands Reports Record Q1 2026 Net Revenue and Reaffirms Full-Year Guidance

- Tilray Brands reported **record Q1 net revenue of $210 million** and achieved **net income of $1.5 million** for the first fiscal quarter ended August 31, 2025.  **[1731348_0001171843-25-006368_exh_991.htm:0]** **[1731348_0001171843-25-006368_exh_991.htm:1]** 
- **Adjusted EBITDA increased 9% to $10.2 million** in Q1 2026, and **net cash used in operations improved by $34.0 million** year-over-year to $(1.3) million.  **[1731348_0001171843-25-006368_exh_991.htm:0]** **[1731348_0001171843-25-006368_exh_991.htm:1]** 
- The company strengthened its balance sheet with a **$264.8 million cash balance** and reduced net debt to **$4 million**.  **[1731348_0001171843-25-006368_exh_991.htm:0]** **[1731348_0001171843-25-006368_exh_991.htm:1]** 
- Tilray reiterated its fiscal year 2026 Adjusted EBITDA outlook of **$62 million – $72 million**.  **[1731348_0001171843-25-006368_exh_991.htm:0]**

Tilray Brands Reports Strong Q1 Fiscal 2026 Results

- Tilray Brands reported **record Q1 net revenue of $209.5 million** for the first fiscal quarter ended August 31, 2025, representing a **5% increase** compared to the prior year period.  **[1731348_8f7e449cc1374cf8a97baa31cef930c2_0]** **[1731348_8f7e449cc1374cf8a97baa31cef930c2_1]** **[1731348_8f7e449cc1374cf8a97baa31cef930c2_9]** 
- The company achieved **net income of $1.5 million** and saw **Adjusted EBITDA increase 9% to $10.2 million** for the quarter ended August 31, 2025.  **[1731348_8f7e449cc1374cf8a97baa31cef930c2_0]** **[1731348_8f7e449cc1374cf8a97baa31cef930c2_1]** **[1731348_8f7e449cc1374cf8a97baa31cef930c2_12]** 
- The balance sheet was strengthened with a **cash balance of $264.8 million**, and **net debt was reduced to $4 million** as of August 31, 2025.  **[1731348_8f7e449cc1374cf8a97baa31cef930c2_0]** **[1731348_8f7e449cc1374cf8a97baa31cef930c2_2]** **[1731348_8f7e449cc1374cf8a97baa31cef930c2_12]** 
- Tilray Brands reiterated its **Fiscal Year 2026 Adjusted EBITDA outlook of $62 million – $72 million**.  **[1731348_8f7e449cc1374cf8a97baa31cef930c2_0]**

Tilray Brands (TLRY)