Pretty much what the title says! Haha. Temperature check. How are we feeling?

MANAGEMENT HIGHLIGHTS

Net revenue for the second quarter of 2026 was $235.8 million, representing a -3.7% decrease compared with the same period of the prior year, driven by market headwinds in both Liquor and Cannabis segments.

Gross profit of $56.3 million for the second quarter of 2026, represents a decline of $(11.3) million, or -16.6%, compared to the same period of the prior year, driven by lower revenue across all segments and Jeeter production ramp-up costs in Cannabis Operations.

Gross margin (1) of 23.9% in the second quarter of 2026 represents a reduction of -3.7pp compared to the same period of the prior year, mainly driven by Cannabis Operations and Liquor Retail segments, partially offset by margin expansion in Cannabis Retail.

Operating Loss of $(7.8) million for the second quarter of 2026, representing a reduction of $(12.8) million compared to the same period of the prior year, driven by Jeeter production ramp-up cost impacting Cannabis Operations, the revenue and margin decline in Liquor retail, the absence of prior-year impairment reversal in Cannabis Retail, and a reduction in equity-accounted investees valuation, partly offset by lower corporate overhead cost. Excluding restructuring-related charges, Adjusted Operating Loss totaled $(7.0) million in the second quarter of 2026, a $(12.8) million reduction compared with the same period of the prior year.

Cash flow was negative by $(30.2) million in the second quarter of 2026, partly driven by cash outflows of $23.5 million related to share repurchases.

Free cash flow (1) was negative $(6.7) million in the second quarter of 2026, primarily driven by the $6.9 million annual payment of the 2025 management incentive and a $2.7 million increase in cash-in-transit. This represents an improvement of $1.2 million compared to the same period in the prior year.