Why Is Wellnex Life Exiting Medicinal Cannabis Amid Sales Drop?

• Q1 FY26 sales fell 18.2% to $5.4 million, driven by an 82.3% drop in IP licensing revenue
• Brand sales grew modestly by 4.1%, partially offsetting overall revenue decline
• Secured additional debt facilities totaling $5.35 million, with $4.1 million drawn
• Initiated exit from medicinal cannabis segment due to competitive pressures and low revenue contribution