Tilray Brands Inc. (TLRY) shares surged 5.23% in pre-market trading on Thursday, following the release of the company's strong first quarter fiscal 2026 results. The cannabis and consumer packaged goods company reported record Q1 net revenue and a return to profitability, signaling improved operational efficiency and market position.

Key highlights from Tilray's Q1 fiscal 2026 results include: - Record Q1 net revenue of $209.5 million, a 5% increase year-over-year - Net income of $1.5 million, compared to a net loss of $34.7 million in the same quarter last year - Adjusted EBITDA increased 9% to $10.2 million - Canadian adult-use cannabis gross revenue increased 12%, maintaining the #1 position in revenue and expanding market share - International cannabis revenue grew 10% year-over-year

Irwin D. Simon, Chairman and Chief Executive Officer of Tilray, commented on the results, stating, "As we enter fiscal 2026, Tilray's first quarter results underscore the effectiveness of our strategic vision and disciplined execution." He emphasized the company's strengthened balance sheet, with $265 million in cash and reduced net debt to $4 million, providing flexibility for strategic opportunities. The company also reiterated its fiscal year 2026 adjusted EBITDA outlook of $62 million to $72 million, further boosting investor confidence.