The report highlighted that the Canadian adult-use and medical cannabis net revenue combined increased by 8% year-over-year, solidifying Tilray's position as the leading cannabis company in Canada by revenue. Additionally, the acquisition of BrewDog for approximately £40 million positions Tilray as a global leader in the craft beverage sector, facilitating multi-region expansion across Europe, the Middle East, Australia, Asia-Pacific, and the U.S.
Tilray's balance sheet remains robust, with $265 million in cash and marketable securities, alongside a net cash position of approximately $3.5 million. The company has also successfully reduced its total outstanding debt by $4.2 million, further strengthening its financial position. The completion of the Project 420 synergy program is expected to deliver around $33 million in annualized cost savings, enhancing the cost structure of their beverage business.
Looking ahead, Tilray reaffirms its fiscal year 2026 guidance, projecting adjusted EBITDA between $62 million and $72 million, representing growth of 13% to 31% compared to fiscal year 2025. The company is closely monitoring various factors that may impact operating expenses and adjusted EBITDA expectations, particularly in light of geopolitical tensions in the Middle East. The company plans to host a live audio webcast to discuss these results, further engaging with investors and stakeholders.
