Shares of Tilray Inc. (TLRY) surged 21.51% 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 positioning.

Key highlights from Tilray's Q1 report include: - Net revenue increased 5% year-over-year to a record $209.5 million, beating analyst estimates of $204.5 million - Net income of $1.5 million, compared to a net loss of $34.7 million in the prior year - Adjusted EBITDA rose 9% to $10.2 million - Canadian adult-use cannabis gross revenue grew 12%, maintaining the #1 market position - International cannabis revenue increased 10% year-over-year - Net cash used in operations improved significantly by $34 million to negative $1.3 million

Tilray's CEO, Irwin D. Simon, commented on the results, stating, "Achieving a record Q1 net revenue of $210 million, delivering net income, and fortifying our balance sheet are not just milestones, they are proof points of our commitment to building sustainable growth, operational excellence, and unlocking value for our shareholders." The company also highlighted its strengthened balance sheet, with $265 million in cash and reduced net debt to just $4 million. Tilray reiterated its fiscal year 2026 adjusted EBITDA outlook of $62 million to $72 million, further boosting investor confidence in its growth trajectory and operational efficiency.