Tilray(US:TLRY) Globenewswire·2025-10-09 11:00Core Insights - The company reported a net income of $1.5 million for the first fiscal quarter of 2026, with adjusted EBITDA increasing by 9% to $10 million, and a significant improvement in net cash used in operations by $34 million year-over-year [1][3][5]. Financial Performance - Net revenue rose by 5% to $209.5 million compared to $200.0 million in the previous year [5][26]. - Gross profit decreased to $57.5 million from $59.7 million, resulting in a gross margin of 27%, down from 30% [5][26]. - Cannabis net revenue increased by 5% to $64.5 million, while cannabis gross profit fell to $23.3 million, leading to a gross margin of 36%, down from 40% [5][30]. - Beverage net revenue was $55.7 million, slightly down from $56.0 million, with a gross profit of $21.3 million and a gross margin of 38%, down from 41% [5][30]. - Wellness net revenue increased to $15.2 million from $14.8 million, maintaining a gross margin of 32% [5][30]. - Distribution net revenue grew to $74.0 million from $68.1 million, with a gross margin of 11%, down from 12% [5][30]. Operational Efficiency - The company improved its cash flow, with cash used in operations significantly reduced to $(1.3) million from $(35.3) million [3][28]. - The balance sheet was strengthened with a cash balance of $265 million and net debt reduced to $4 million [1][4]. Strategic Outlook - The company reiterated its fiscal year 2026 adjusted EBITDA outlook of $62 million to $72 million [1]. - The CEO expressed confidence in the company's ability to capitalize on transformative opportunities in the evolving cannabis landscape, particularly in the U.S. and Europe [2]. Market Position - Canadian adult-use cannabis gross revenue increased by 12%, maintaining the company's 1 position in revenue and expanding market share, while international cannabis revenue grew by 10% year-over-year [1].