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NUGL (OTC:NUGL), operator of the KAYA cannabis and lifestyle brand in Jamaica, reported strong Q2 2026 results, with revenue rising 45.3% year over year to $1.258 million and approximately 47.7% sequentially. Gross profit increased to $610,462, delivering a 48.5% gross margin.
Operating income grew to $135,841 versus $19,590 a year earlier, while net income reached $32,329, compared with a net loss of $391,914 in Q2 2025, partly influenced by derivative liability valuation changes. For the first half of 2026, revenue was about $2.110 million, up 30.5%, with operating income of $158,977 and operating cash flow of $163,423. Cash and cash equivalents were $145,148 at June 30, 2026. Growth was driven by KAYA’s integrated cannabis, hospitality, food & beverage and cultural experiences across four Jamaican medical cannabis retail locations and related cultivation and processing operations.
NUGL (OTC:NUGL) reported Q1 2026 revenue of US$851,939, up 13.4% year-over-year, with gross profit of US$461,218, up 9.1%. Operating income was US$23,136, and cash on hand rose to US$136,522.
The company highlighted stronger retail and hospitality performance, vertically integrated operations under the Kaya brand, and continued rollout of regulated off-site cannabis delivery across Jamaica, which management views as a significant long-term growth opportunity.
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Kaya Group (OTC: NUGL) has announced a series of wellness events in Jamaica aimed at enhancing brand awareness and driving revenue growth. These events include a full-moon cycling event on March 8, a sunset Herbtails and Coffee festival afterparty on March 25, and a wellness celebration featuring yoga and live music on April 6. Additionally, Kaya will participate in the Scarce Festival Cannabis Cup on April 20. Jamaica's tourism sector is rebounding post-pandemic, with expected revenues of $4.2 billion for the fiscal year. Kaya aims to capitalize on this trend with its unique offerings, including psilocybin mushrooms and fine coffee.
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Kaya Group (OTC: NUGL) has announced plans to expand its profitable operations in Jamaica, focusing on cannabis, hospitality, and psychedelic offerings. The company has seen a 15% year-over-year sales growth, with medicinal cannabis sales driving this increase. By optimizing its resources and through licensing opportunities, Kaya aims to strengthen its brand and enhance operational synergies. The company reported a 12.5% increase in membership and a 75% increase in foot traffic from Q3 to Q4 2022. Kaya's strategic focus on its Jamaican roots aims to improve margins and establish a strong market presence moving forward.
Kaya Group (OTC: NUGL) has announced its role as a sponsor of the 2023 Rebel Salute Festival, taking place on January 20-21 at Grizzly's Plantation Cove, Jamaica. This festival, which expects 40,000 attendees, emphasizes the cultural significance of ganja and reggae music. Kaya aims to educate the public on cannabis-related matters through the Herb Curb, an initiative launched by the Jamaican government. The event will feature over 60 reggae artists and showcases Kaya's commitment to promoting Rastafarian culture. The company continues to expand its operations in Jamaica, with multiple herb houses and wellness centers.