Tilray Inc. (TLRY) surged 8.11% in after-hours trading following the release of its fiscal Q2 2026 earnings report, which showcased record revenue and narrowing losses. The cannabis company reported revenue of $218 million, beating analyst estimates, while its net loss improved significantly to $43.5 million from $85.3 million a year earlier.

Key drivers included a 36% jump in international medical cannabis revenue and 6% growth in Canadian adult-use cannabis sales. CEO Irwin Simon also highlighted the potential for U.S. expansion if cannabis is rescheduled federally, noting Tilray's readiness to leverage its global medical cannabis expertise in the U.S. market. The company's improved financial position, including a move to a net cash position, further bolstered investor confidence.