Operator

Good morning, ladies and gentlemen, and welcome to the Auxly Cannabis Group Q1 2026 Financial Results Conference Call. [Operator Instructions] This call is being recorded on Thursday, May 14, 2026.

I would now like to turn the conference over to Hugo Alves, CEO. Please go ahead.

Hugo Alves
CEO & Director

Thank you, operator. Hello. Good morning. I'm Hugo Alves, Auxly's Co-Founder and Chief Executive Officer. I'd like to welcome all of you to Auxly Cannabis Group's Q1 2026 Conference Call and Webcast.

Joining me on the conference call today are Travis Wong, our Chief Financial Officer; and Mark Charbonneau, our Head of Investor Relations. Today, I'll share key takeaways from the quarter, and then we'll open the call up to questions from analysts and answer some questions that have come through our Investor Relations inbox over the last few days.

Before we begin, I'd like to remind you that our remarks may contain forward-looking information, and actual results could differ materially. Forward-looking information is subject to many risks and uncertainties. Certain factors or assumptions applied in the forward-looking information can be found in our latest annual information form and management discussion and analysis. These documents are available on our website and at sedarplus.ca.

More generally, if you have questions once this call is completed, please reach out to our Investor Relations. Our contact information can be found at the end of our earnings press release.

Turning to our financial results. Our Q1 2026 financial results represented seasonal records in net revenue, adjusted EBITDA and cash flow from operations. Net revenue reached $39.8 million, an increase of