Aurora Cannabis Q1 2026 Earnings: 37% YoY Growth in Medical Cannabis Revenue, Positive Free Cash Flow

Aurora Cannabis reported Q1 2026 results with a 37% increase in global medical cannabis net revenue to $64.8 million, an 85% growth in international revenue, and a 209% increase in adjusted EBITDA to $10.8 million. The company achieved positive free cash flow of $9.2 million and maintained a strong balance sheet with $186 million in cash. Aurora's strategic focus on high-margin medical cannabis markets and plant propagation business expansion contributed to the strong results.

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) has announced its financial results for the first quarter of 2026, highlighting significant growth in its global medical cannabis net revenue and adjusted EBITDA. The company reported a 37% increase in global medical cannabis net revenue to $64.8 million, with international medical cannabis net revenue growing by 85% to $37.1 million [1].

The company's adjusted EBITDA increased by 209% to $10.8 million, reflecting strong operational performance. Aurora also generated positive free cash flow of $9.2 million, representing a 42% year-over-year (YoY) growth. The company maintains a strong balance sheet with approximately $186.0 million in cash and no debt [1].

Aurora's strategic focus on high-margin medical cannabis markets, particularly in Germany and Poland, and its plant propagation business expansion, Bevo, contributed to the robust results. The company's adjusted gross margin before fair value adjustments improved to 52% in Q1 2026 from 42% in the prior year period, driven by cost reductions, higher selling prices, and improved production efficiency [1].

Aurora's consumer cannabis net revenue decreased by 32% to $7.9 million, primarily due to the company's decision to prioritize the supply of its GMP manufactured products to its high-margin global medical cannabis business. The company's plant propagation business contributed $23.9 million in net revenue, a 4% increase from the prior year period [1].

Aurora expects consolidated net revenue to increase year-over-year in Q2 2026, driven primarily by 8% to 12% growth in its global medical cannabis segment. The company also anticipates continued strong positive adjusted EBITDA and positive annual free cash flow for the second consecutive year [1].

Aurora will host a conference call today to discuss these results. The call will be hosted by Miguel Martin, Chief Executive Officer, and Simona King, Chief Financial Officer, starting at 8:00 a.m. Eastern time | 6:00 a.m. Mountain Time [1].

References:
[1] https://finance.yahoo.com/news/aurora-cannabis-announces-fiscal-2026-110000711.html