THC, wellness, and beverage alcohol producer Tilray reported net revenue of $210 million, a company record, for its fiscal first quarter through August, marking a 5% gain year-over-year. Adjusted EBITDA was up 9% to $10.2 million. Both Tilray’s cannabis and wellness segments saw gains in Q1, with cannabis net revenue rising 5% to $65 million and wellness up slightly, from $14.8 million to $15.2 million. Tilray’s “wellness” offerings cover hemp THC brands like Happy Flower and Fizzy Jane’s, plus food brands like Manitoba Harvest and the Humble Seed. Tilray entered the hemp THC market in October 2024.

Tilray’s beverage division, which includes a variety of craft beer brands like Sweet Water, Blue Point, Green Flash, and Montauk, plus craft distiller Breckinridge, was roughly flat for the quarter with net revenue of $56 million. Finally, Tilray’s distribution business grew, up roughly $6 million to $74 million for Q1.

“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,” said Irwin Simon, CEO and chairman. “Our global platform positions Tilray Brands not just to participate in, but to lead, the evolution of the global cannabis, beverage, and wellness sectors.”—Shane English