12:49 PM EDT, 10/09/2025 (MT Newswires) -- Tilray Brands ( TLRY ) reported stronger-than-expected fiscal first-quarter revenue and reiterated its fiscal 2026 core earnings guidance, sending the company's stock soaring Thursday.

The cannabis distributor's revenue rose to $209.5 million for the three months ended Aug. 31 from $200 million a year earlier, exceeding the FactSet-polled consensus of $204.5 million.

The company broke even in the quarter after reporting an adjusted loss of $0.01 a share a year earlier. Analysts' estimates for earnings were unavailable. It posted net income of $1.5 million, swinging from a loss of $34.7 million.

Tilray shares were up 21% in afternoon trade. The stock has surged nearly 57% so far this year.

The company continues to expect full-year adjusted earnings before interest, taxes, depreciation and amortization in a range of $62 million to $72 million. It company reported cash balance of $264.8 million.

"Achieving a record (first-quarter net revenue), 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" Chief Executive Irwin Simon said in a statement.

Distribution revenue in the quarter increased to $74 million from $68.1 million year over year, while cannabis sales grew to $64.5 million from $61.2 million. Sales in the wellness segment improved to $15.2 million from $14.8 million, while beverage revenue fell to $55.7 million from $56 million.

"Looking forward, I am confident in Tilray's ability to seize the transformative opportunities ahead, especially as the US explores cannabis rescheduling and the European cannabis landscape continues to evolve," Simon said.

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