News

Red or black: A roundup of cannabis financial news

Published on January 16, 2026 by Pat Bulmer

Photo: Contributed/Organigram

Cannabis financial news: Edibles that give quick buzz are popular; Rec weed revenue up at Tilray; Avant Brands fears takeover bid; Akanda executes a reverse stock split

Fast-acting edibles good for the bottom line

Fast-acting ingestibles along with increased international sales and acquisitions helped boost Organigram Global to a record financial year.

“Our acquisitions broadened our capabilities in extraction, beverages, and brand-led innovation, while strengthening our leadership in core categories,” said Executive Chairman Peter Amirault in a financial report. “We expanded our international presence and advanced the technologies that will support the next phase of our portfolio, from seed-based cultivation to fast-acting ingestible delivery,”

In late 2024, Organigram launched its Fast Acting Soluble Technology.

“FAST products deliver up to ~50% faster onset and improved bioavailability delivering nearly double the cannabinoids at peak effect compared to traditional edible products,” said the company in November 2024 as it announced a new line of Edison Sonics gummies,

“FAST is an advanced nanoemulsion technology delivery system that breaks down cannabinoids into tiny particles, allowing them to be absorbed more quickly and efficiently during consumption.”

Future product launches using the technology are planned, said Amirault.

Organigram says it ended the fiscal year on Sept. 30 with the biggest recreational market share in Canada and record international revenue. The company bought Ontario-based Motif Labs and entered the U.S. hemp beverage market by purchasing Collective Project.

The company also reported a record annual harvest.

The report touted Organigram’s connection with Portland, Ore-based Phylos Bioscience. On New Year’s Eve, Organigram announced it boosted its investment in the cannabis genetics company, giving Organigram exclusive rights for five years for varieties it chooses.

“Organigram saw early that the next phase of cannabis production would be driven by scientifically bred genetics. Their investment allows Phylos to accelerate development of new traits and F1 hybrid seeds, while giving Organigram a meaningful economic advantage as the first to deploy those innovations at commercial scale,” said Ralph Risch, CEO of Phylos.

The 2025 financial highlights included:

• Gross revenue up 63% year-over-year to $403 million.
• Net revenue up 62% to $259.2 million — “primarily due to an increase in recreational and international revenue.”
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was up 160% to $21.9 million “as a result of higher recreational cannabis revenue and a higher adjusted gross margin.”
• Net loss decreased 46% to $24.8 million.

“We delivered international growth, realized synergy savings from the Motif integration, and improved our adjusted gross margin and adjusted EBITDA through capacity expansion and operational efficiencies,” said CFO Greg Guyatt. “We believe we are well-positioned for strong revenue growth with net revenue expected to exceed $300 million in fiscal 2026.”

Organigram’s flagship facility is in Moncton, N.B., where it recently received government support to proceed with a planned upgrade. The corporate office has moved to Toronto where James Yamanaka is settling in as the new CEO.

Recreational sales grow at Tilray

Increased recreational cannabis sales in Canada helped lift Tilray Brands to a record quarter for revenue.

The Canadian-American cannabis and liquor giant reported net revenue of $218 million for the quarter ending Nov. 30. Net revenue in the cannabis division was $67.5 million — “as a result of a 36% increase in international cannabis and a 6% increase in Canadian adult-use cannabis, offset by a lower presence in Canadian wholesale cannabis in anticipation of deployment in international markets,” the company said in a financial statement.

“We achieved another record quarter with net revenue reaching $218 million,” said CEO

Irwin D. Simon, “a result of disciplined execution within our diversified portfolio spanning cannabis, beverage, wellness and distribution sectors.”

Financial highlights included:

• Gross profit was $57.5 million compared to $61.2 million in last year’s same quarter. Cannabis gross profit increased to $26.1 million compared to $23.2 million.
• Adjusted EBITDA was $8.4 million compared to $9 million.
• The company is in a better cash position than before.

Tilray is hoping to cash in on medical cannabis in the United States if rescheduling goes ahead, as President Donald Trump has ordered: “As the U.S. regulatory landscape progresses, Tilray is prepared to leverage its experience to play a key role in building a responsible, research-oriented national medical cannabis industry,” said Simon.

Avant taking a poison pill

Kelowna-based Avant Brands is taking steps to protect itself in case of an unwanted takeover bid.

The company’s board of directors this month adopted a shareholder rights plan. Companies typically adopt such plans to fight off hostile takeover bids.

“The purpose of the Shareholder Rights Plan is to provide the board and shareholders of the company with adequate time to consider and evaluate any unsolicited take-over bid,” Avant said in a news release.

“The Shareholder Rights Plan is similar to modern rights plans adopted by other Canadian public companies and ratified by their shareholders. It was not adopted in response to any specific proposal or intention to acquire control of the company,” the company said.

Sometimes, companies will adopt such plans when one shareholder has started racking up a large amount of shares.

Shareholders must still approve the plan, which has been conditionally approved by the Toronto Stock Exchange.

“Once activated, the strategy allows shareholders, with the exception of the acquiring party, to buy additional shares of company stock at a highly discounted price,” Investopedia explains.

Shareholder rights plans are also referred to as poison pills.

It’s possible Avant became a more appetizing target after paying off a $9.5-million debt last month.

The debt, in the form of a debenture, was incurred to buy 3PL Ventures. With a debenture, the borrower doesn’t have to put up collateral — its word and reputation is good enough.

“The successful retirement of the A&R Debenture eliminates Avant’s largest monthly recurring debt obligation, strengthens the company’s balance sheet, and releases key operating assets from security,” the company said in a news release. “Avant has now repaid approximately $4 million in total debt during Fiscal Year 2025.”

Avant bought 3PL and Flowr in 2023

“The A&R Debenture was originally issued in connection with the 2023 acquisition of 3PL Ventures Inc., which — together with the parallel purchase of Flowr Okanagan —expanded Avant’s indoor production footprint by approximately 60% to more than 185,000 sq. ft. These acquisitions have positioned Avant as one of Canada’s largest indoor cannabis producers.”

“We are pleased to have retired every dollar of this acquisition-related debt,” said CEO Norton Singhavon.

Avant brands include blk mkt, Tenzo, Cognōscente and Treehugger.

Akanda reverses stocks

Canadian cannabis company Akanda Corp. has done a reverse stock split.

“A reverse stock split is a type of corporate action that consolidates the number of existing shares of stock into fewer (and, importantly, higher-priced) shares,” Investopedia explains.

In Akanda’s case, five stocks will be combined to become one.

“A company might conduct a reverse stock split to avoid delisting from major exchanges like the NYSE or Nasdaq. Both exchanges require listed companies to maintain a minimum share price of $1.00,” Investopedia explains. Akanda stocks were trading at 47 cents on Jan. 8 before the switch. The reverse stock split was to take effect Jan. 12.

“This will reduce the number of outstanding common shares of the Company from approximately 10.1 million to approximately 2.0 million. The reverse stock split affects all shareholders uniformly and will not alter any shareholder’s percentage interest,” Akanda said.