NUGL, Inc. Reports Strong Q1 2026 Results with Revenue Growth, Positive Operating Income and Continued Delivery Expansion in Jamaica

Revenue increased 13.4% year-over-year to US$851,939; gross profit increased 9.1%; Company reports positive operating income and increased cash position as Kaya Group continues to strengthen

KINGSTON, Jamaica and LOS ANGELES, May 15, 2026 (GLOBE NEWSWIRE) — NUGL, Inc. (OTC: NUGL) (“NUGL” or the “Company”), operator of the KAYA cannabis brand in Jamaica, today reported financial results for the first quarter ended March 31, 2026, highlighting continued revenue growth, positive operating income, increased cash on hand, and ongoing advancement of the Company’s vertically integrated cannabis and lifestyle operations.

For the three months ended March 31, 2026, the Company generated revenue of US$851,939, representing an increase of 13.4% compared to revenue of US$751,048 for the same period in 2025. Gross profit increased 9.1% to US$461,218, compared to US$422,724 in Q1 2025.

The Company reported positive operating income of US$23,136 for Q1 2026, compared to US$21,268 during the prior-year period, reflecting continued operational discipline, increased cultivation capacity, stronger customer traffic, and improved performance across retail and hospitality operations.

Cash on hand increased to US$136,522 as of March 31, 2026, compared to US$121,554 as of December 31, 2025.

Selected financial highlights for the quarter ended March 31, 2026 include:

All financial figures are presented in U.S. dollars unless otherwise stated. Financial results referenced in this release are based on the Company’s publicly reported financial information for the quarter ended March 31, 2026.

“These first quarter results reflect continued operational improvement across the business, including expanded gross profit, increased cultivation capacity, and growing customer traffic across our retail network. We remain focused on disciplined growth, operational efficiency, and strengthening the Company’s balance sheet as we continue building long-term shareholder value.”

said Balram Vaswani, Chief Executive Officer of NUGL, Inc.

Continued Operational Momentum and Delivery Expansion

Following the recent regulatory amendments announced by Jamaica’s Cannabis Licensing Authority authorizing off-site cannabis delivery under defined compliance conditions, NUGL has continued advancing its delivery infrastructure and operational rollout plans across Jamaica, with a strategic focus on expanding customer accessibility and improving delivery efficiency across key operating markets.

Management believes the introduction of regulated off-site delivery represents a meaningful expansion of customer accessibility and a significant long-term growth opportunity for the Company’s retail operations.

“The introduction of Kaya’s off-site delivery creates a direct and actionable pathway to expand our addressable market. These delivery capabilities improve customer accessibility, particularly for customers with limited transportation access, while creating new opportunities for incremental revenue growth and stronger brand loyalty.”

said Mr. Vaswani.

Operational Performance

Management believes the Company’s improving operating performance reflects the benefits of its vertically integrated Kaya model, disciplined cost management, and continued optimization across cultivation, retail, processing, and hospitality operations.

The Company currently operates licensed cannabis retail locations in Kingston, Drax Hall, Falmouth, and Ocho Rios, alongside cultivation, processing, hospitality, and digital platform initiatives across Jamaica.

The Company noted that operating performance continues to improve despite ongoing macroeconomic challenges and evolving industry conditions.

Outlook and Strategic Direction

Kaya remains focused on delivering sustainable, profitable growth by building on its leadership in Jamaica’s regulated cannabis market. According to public tourism reports, Jamaica’s tourism sector continued to demonstrate resilience in Q1 2026, recording more than one million visitor arrivals and approximately US$956 million in tourism earnings despite the lingering impact of Hurricane Melissa.

While macroeconomic and industry-specific challenges remain, management believes the Company is well-positioned to navigate ongoing market conditions.

Looking ahead, NUGL intends to focus on:

• Advancing the NUGL.AI Business Hub, a proprietary platform integrating real-time news, market intelligence, digital asset tracking, and global cannabis sector discovery;
• Expanding retail and brand presence across Jamaica through strategic cultural activations, tourism-focused initiatives, and select collaborations with internationally recognized artists, live entertainers, and digital creators;
• Expanding into international markets as additional countries advance medical cannabis import and export frameworks; and
• Scaling higher-margin business segments, including hospitality and branded products.

“We believe Jamaica’s regulated cannabis industry remains in the early stages of long-term growth and market formalization. With continued regulatory progress, expanding tourism activity, and the advancement of delivery capabilities, we believe Kaya is uniquely positioned to strengthen its market presence, expand customer accessibility, and continue building one of the leading vertically integrated cannabis platforms in the Caribbean.”

said Mr. Vaswani.

About NUGL, Inc.

NUGL, Inc. is a global discovery and analytics platform focused on cannabis brands, dispensaries, psychedelics research, and AI-powered news. Through Kaya Group, Jamaica’s first legal herb house and vertically integrated cannabis company, NUGL operates licensed retail locations, cultivation and processing facilities, wellness destinations, hospitality operations, and lifestyle partnerships.

For more information, visit www.nugl.ai/investors or follow KAYA on social media at @kaya.inc and NUGL on X at @NUGLmedia.

No Offer or Solicitation

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities. No offer of securities shall be made except by means of a prospectus or other offering document meeting applicable legal requirements.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements regarding the Company’s expected growth, delivery expansion, operational scalability, improved operating leverage, customer accessibility, international expansion, digital platform development, brand development, tourism-related opportunities, and long-term shareholder value.

Forward-looking statements are based on management’s current expectations, estimates, projections, assumptions, and beliefs, and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, among others, market conditions, regulatory developments, changes in cannabis laws and licensing requirements, operational execution, competition, economic conditions, tourism trends, supply chain constraints, access to capital, weather-related disruptions, and other risks described in the Company’s filings with OTC Markets and the Securities and Exchange Commission.

Forward-looking statements can often be identified by words such as “anticipate,” “believe,” “expect,” “intend,” “plan,” “may,” “will,” “could,” “should,” “seek,” “estimate,” “project,” “continue,” “future,” “strategy,” “opportunity,” and similar expressions. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

Investor and Media Contact

Leonardo Sammarco
NUGL, Inc.
Tel: 876-627-9333
Email: ir@nugl.com
Investor Relations: www.nugl.ai/investors