05:04 PM EDT, 07/28/2025 (MT Newswires) -- Tilray Brands ( TLRY ) was edging lower in Nasdaq after-hours trading Monday after the cannabis company reported a big loss for its fiscal fourth quarter on charges, but the company did flag higher adjusted EBITDA for fiscal 2026.

Tilray reported loss of US$1.30 per share in the quarter ended May 31, compared to a loss of US$$0.04 a year earlier. The net loss of US$1,267.9 million in the fourth quarter compared to net loss of US$15.4 million in the prior year quarter, almost all of which is a result of non-cash expenses. This change is mainly due to non-cash expenses and accounting charges primarily associated with goodwill and intangible assets recorded during the Aphria and Tilray acquisition in 2021, at which time stock prices and market values for cannabis companies reflected expectations for U.S. cannabis legalization. As a result, the company recognized a non-cash impairment charge of US$1,396.9 million.

Adjusted income, excluding most one-time items, was US$20.2 million in the fourth quarter and adjusted income per share was US$0.02, compared to US$0.04 in the prior year quarter.

Tilray reported net revenue of US$224.5 million compared to revenues of US$229.9 million a year earlier and a FactSet forecast of US$232.2 million.

Adjusted EBITDA was US$27.6 million in the fourth quarter versus US$29.5 million in the prior year quarter.

For its fiscal year ending May 31, 2026, the company expects to achieve adjusted EBITDA of US$62 million to US$72 million, representing growth of 13% to 31% as compared to fiscal year 2025.

"Looking ahead to Fiscal Year 2026, we see key growth opportunities in cannabis, beverage and wellness. Our global infrastructure and international distribution network position us to lead as the global cannabis market expands. Our commitment to innovation across our portfolio of brands, including our AI initiatives, differentiates Tilray from the broader competitive landscape. We have the right team and the right strategy to drive growth by delivering innovative new products to our consumers and patients around the world," chief executive Irwin Simon said.

The company's shares were last seen down US$0.01 to US$0.69 after hours. They closed up $0.01 to $0.95 on the Toronto Stock Exchange.