What factors drove the changes in Aurora Cannabis's revenue and profit?

What were the key takeaways from Aurora Cannabis's earnings call?

What does Aurora Cannabis do and what are its main business segments?

What is the revenue and EPS growth rate for Aurora Cannabis year over year?

What is the market's earnings forecast for Aurora Cannabis next quarter?

What were the key takeaways from Aurora Cannabis’s earnings call?

What is Aurora Cannabis's gross profit margin?

What is Aurora Cannabis's latest dividend and current dividend yield?

- **Revenue Growth**: 7% YoY increase to CAD 94.2 million, with 12% growth in global medical cannabis (CAD 76.2 million). Over half of revenue generated outside Canada.
- **Strategic Shift**: Exiting Canadian consumer cannabis to focus on high-margin global medical markets, generating 81% of revenue from medical cannabis.
- **Financial Strength**: Adjusted EBITDA of CAD 18.5 million, free cash flow of CAD 15.5 million, and CAD 154 million in cash with no debt.
- **Market Leadership**: Leading positions in Germany, Poland, and Australia, with Germany's imports doubling in 2025 and Poland's regulatory adaptability.
- **Future Growth**: Global medical cannabis revenue expected to rise 10%-15% to CAD 269-281 million, supported by ATM program for strategic M&A.

**【CEO Summary Section】**
- **Revenue Growth**: Net revenue increased 7% year-over-year to CAD 94.2 million, driven by 12% growth in global medical cannabis revenue (CAD 76.2 million). International medical cannabis revenue rose 17%, with over half of total revenue generated outside Canada.
- **Market Focus**: Exited lower-margin Canadian consumer cannabis markets, reallocating resources to higher-margin global medical cannabis. Generated 81% of net revenue from medical cannabis, up from 77% in the prior year.
- **Strategic Exits**: Announced exit from select consumer cannabis markets and divestiture of controlling stake in plant propagation business (Bevo), aiming to streamline operations and improve profitability.
- **International Expansion**: Strengthened leadership in key markets like Germany (double-digit growth), Australia (shifting to premium products), and Poland (market share gain). Germany's imports doubled in 2025, and Poland's regulatory shifts were navigated successfully.
- **Operational Efficiency**: Maintained 62% adjusted gross margin, with medical cannabis at 69%, driven by high-margin international markets and cost reductions.

**【CFO Financial Commentary】**
- **Financial Highlights**: Adjusted EBITDA of CAD 18.5 million, adjusted net income of CAD 7.2 million, and positive free cash flow of CAD 15.5 million. Cash balance of CAD 154 million with no cannabis-related debt.
- **Segment Performance**: Medical cannabis contributed 95% of adjusted gross profit, while consumer cannabis revenue dropped 48% to CAD 5.2 million. Plant propagation revenue rose 27% to CAD 11.3 million but saw margin decline due to cost pressures.
- **Future Guidance**: Global medical cannabis revenue expected to grow 10%-15% to CAD 269-281 million in FY2026. Adjusted EBITDA projected to increase 5%-10% to CAD 52-57 million, driven by margin strength and market expansion.
- **Liquidity**: Announced an ATM program to raise up to CAD 100 million for strategic M&A and capacity expansion.

**【Q&A Key Highlights】**
- **Consumer Cannabis Exit**: Expected SG&A savings and margin improvement from reallocating flower to higher-margin markets. Full exit possibility under evaluation.
- **Australia Strategy**: Transitioning to premium products despite near-term sales pressure, targeting AUD 1 billion market opportunity.
- **Plant Propagation Divestiture**: Bevo results to be treated as discontinued operations, with focus shifting to global medical cannabis.
- **M&A Opportunities**: ATM proceeds to fund accretive investments, including cultivation capacity and new market entries.
- **Regulatory Navigation**: Agile response to evolving regulations (e.g., Poland, Germany) through strong regulatory relationships and product innovation.

Aurora Cannabis Inc (ACB) Q3 2026 Earnings Call Transcript

- **Revenue Growth**: 11% YoY to $90.4 million, driven by 15% medical cannabis and 22% international sales growth.
- **Profitability**: Adjusted gross margin at 61% (up 700 bps YoY), EBITDA up 52% to $15.4 million.
- **Strategic Investments**: Doubling production in Germany, expanding into Europe and Australia.
- **Regulatory Challenges**: Monitoring Canada's veteran reimbursement caps and Germany's telehealth framework changes.
- **Cash Strength**: $142 million cash with no cannabis debt, positive Q3 free cash flow expected.

**【CEO Commentary】**
- Aurora Cannabis reported Q2 2026 net revenue of $90.4 million, up 11% YoY, driven by 15% growth in global medical cannabis revenue and 22% increase in international sales.
- Adjusted gross margin improved to 61% (up 700 bps YoY), with medical cannabis margins at 69%, exceeding the 60% target.
- Adjusted EBITDA rose 52% to $15.4 million, supported by higher gross profit and cost control.
- Key markets include Germany (leading exporter), Australia (second-largest), Poland (market leader), and the UK, with expansion into emerging markets like Spain and France.
- Germany's production facility in Leuna is being doubled to meet demand, with EU GMP certification for three years.
- Regulatory challenges in Canada (veteran reimbursement caps) and Germany (potential telehealth changes) are being monitored.

**【CFO Financial Commentary】**
- Q2 2026 financial highlights: 
  - Net revenue: $90.4 million (+11% YoY)
  - Adjusted gross profit: $51.8 million (+22% YoY)
  - Adjusted EBITDA: $15.4 million (+52% YoY)
  - Cash: $142 million (no cannabis business debt)
- Q3 2026 outlook: 
  - Global medical cannabis revenue growth expected at 8-12%
  - Adjusted gross margins to remain strong
  - Positive free cash flow anticipated
- Plant propagation segment saw 34% revenue growth but 10% gross margin due to quality issues.

**【Q&A Highlights】**
- **Gross Margin Sustainability**: CEO attributes higher margins to production efficiencies, international market expansion, and regulatory compliance advantages.
- **Germany Production Expansion**: Doubling capacity in Leuna to meet European demand, despite higher energy costs.
- **Regulatory Risks**: Concerns over Canada's veteran reimbursement caps and potential delivery restrictions in Germany.
- **Market Dynamics**: Australia facing value product competition, while Poland and UK focus on premium products.
- **Cash Management**: Q2 accounts payable decline due to seasonal cash outflows, consistent with historical trends.

Aurora Cannabis Inc (ACB) Q2 2026 Earnings Call Transcript

- **Revenue Surge**: 17% YoY growth to $98 million, fueled by 37% medical cannabis expansion and 85% international sales.
- **Profitability Leap**: Adjusted EBITDA doubles to $10.8 million, free cash flow turns positive at $9 million.
- **Global Dominance**: Leading in 5 key markets with 90% GMP-certified capacity, launching high-potency products in Poland.
- **Q2 Outlook**: Medical cannabis revenue set to grow 8-12%, with margins improving 250-475 basis points.
- **Risk Management**: Strong cash reserves ($186M) and no debt, navigating regulatory shifts in Germany and Poland with strategic partnerships.

**【CEO Summary Section】**
- **Revenue Growth**: Net revenue rose 17% YoY to $98 million, driven by 37% growth in global medical cannabis revenue and 85% international expansion.
- **Margin Improvement**: Adjusted gross margin increased 1,000 basis points to 52%, with medical cannabis margins at 69%.
- **Profitability**: Adjusted EBITDA doubled to $11 million, and free cash flow turned positive at $9 million.
- **Market Leadership**: Leading positions in Canada, Australia, Germany, Poland, and the U.K., with 90% of manufacturing capacity GMP-certified.
- **Strategic Focus**: Investing in new cultivation technology, third-party partnerships, and premium product innovation (e.g., high-potency cultivars in Poland).

**【CFO Financial Commentary】**
- **Financial Highlights**: GAAP net revenue $98 million, adjusted EBITDA $10.8 million (209% YoY growth), and $186 million cash balance with no cannabis business debt.
- **Segment Performance**: Medical cannabis revenue $64.8 million (66% of total), consumer cannabis $7.9 million (down 31%), and plant propagation $23.9 million (4% growth).
- **Gross Margins**: Medical cannabis at 69%, consumer at 33%, and plant propagation at 6% (impacted by nonrecurring costs).
- **Q2 Outlook**: Global medical cannabis revenue expected to grow 8-12%, with adjusted gross margins improving 250-475 basis points.

**【Q&A Key Highlights】**
- **SG&A Expenses**: $37.4 million (19% YoY growth) due to variable costs (shipping/logistics) and MedReleaf Australia integration. Simona expects current levels to persist.
- **European Competition**: Poland remains consolidated (4 companies control 80-90%), Germany requires local selling networks for premium margins, and the U.K. benefits from diverse product offerings.
- **Regulatory Risks**: Potential changes in Germany may tighten access but favor experienced operators. Poland's regulatory headwinds resolved, with demand rebounding post-regulatory adjustments.
- **Supply Chain**: 90% of production GMP/TGA-certified, with $186 million cash to expand if needed. Third-party partnerships supplement internal capacity.
- **Balance Sheet**: Bevo's debt covenant breach resolved; no impact on audit process. Free cash flow expected to remain positive annually.


Aurora Cannabis Inc. (ACB) Q1 2026 Earnings Call Transcript

- **Record Financial Performance**: Global medical cannabis revenue up 39%, adjusted EBITDA of $49.7M, and positive free cash flow of $9.9M highlight 2025 success.
- **International Growth Drivers**: Australia (2nd share), Germany (leading position), and U.K. expansions supported by new product launches and high-margin medical cannabis.
- **Profitability Excellence**: 62% adjusted gross margin, 70% medical cannabis margin, and $2.5M positive free cash flow reflect operational efficiency.
- **Market Resilience**: Poland's temporary regulatory challenges offset by high-quality cultivars; Germany's 0.4% penetration rate poised for growth with telemedicine and format diversification.
- **Competitive Advantage**: GMP certification barriers and operational expertise maintain margins against new entrants in high-growth markets.


**【CEO Summary Section】**
- Global medical cannabis net revenue reached $244.4 million, up 39% year-over-year, with international markets contributing 52% of total medical revenue.
- Adjusted EBITDA hit a record $49.7 million, and free cash flow turned positive at $9.9 million.
- Key markets include Australia (2nd share), Germany (leading position), and the U.K., with new product launches like medical pass deals and inhalable extracts driving growth.
- Poland faced temporary regulatory headwinds but remains optimistic due to high-quality cultivar launches and long-term demand.

**【CFO Financial Commentary】**
- Q4 2025 net revenue rose 34% to $90.5 million, driven by medical cannabis (75% of net revenue) and plant propagation (32% growth).
- Adjusted gross margin improved to 62%, up 1,200 basis points year-over-year, with medical cannabis margin at 70%.
- Free cash flow turned positive at $2.5 million, up $24.4 million from prior year, supported by higher revenue and working capital management.
- Fiscal 2026 outlook includes continued global medical growth, seasonal plant propagation strength, and margin sustainability despite temporary international market softness.

**【Q&A Key Insights】**
- **International Market Dynamics**: Poland's regulatory changes caused short-term declines, but high-quality cultivars and regulatory support position Aurora for recovery. Germany's medical cannabis market growth is constrained by education and format limitations, but penetration is rising.
- **Competitive Positioning**: High GMP certification barriers and operational expertise protect margins against new entrants. Australia's market share stability reflects strong distribution and pharmacy relationships.
- **Supply Chain Resilience**: No supply constraints reported; yield improvements and third-party partnerships ensure product availability. Germany's stock management is a key differentiator in maintaining market share.
- **New Market Expansion**: Focus on underpenetrated European markets like Switzerland and Austria, with long-term interest in Ukraine. Australia and New Zealand's regulatory processes present opportunities for consolidation.


Aurora Cannabis Inc. (ACB) Q4 2025 Earnings Call Transcript

- **Revenue Growth**: 37% YoY to $88.2M, driven by 51% rise in global medical cannabis. International medical revenue up 112%.
- **Profitability**: Adjusted EBITDA $23.1M (+316% YoY), free cash flow $27M (vs. -$4.7M last year). Gross margin 65%.
- **Market Leadership**: 60% of global medical revenue from international markets, up 300bps. Germany, Poland, and Australia key growth drivers.
- **Financial Strength**: $180M cash, no cannabis debt. Bevo segment revenue +22% YoY, margin 40%.
- **Strategic Focus**: Medical cannabis expansion, R&D, and accretive M&A. No consumer cannabis investment plans.

**【CEO Summary Section】**
- **Record Q3 Performance**: Net revenue of $88.2 million (+37% YoY), driven by 51% growth in global medical cannabis. International medical revenue surged 112%, accounting for 60% of global medical revenue (vs. 30% last quarter).
- **Three-Pronged Strategy**: Focus on EU/TGA GMP manufacturing, operational excellence, and free cash flow generation. Key markets include Canada, Australia, Germany, Poland, and the UK.
- **Product Innovation**: Launch of new cultivars from Aurora Coast and first German-grown product under IndiMed. 90% of manufacturing capacity is EU/TGA GMP certified.
- **Margins and Cash Flow**: Adjusted gross margin 65% (vs. 52% last year), free cash flow $27 million (vs. -$4.7M last year). No cannabis business debt, $180.2M cash on hand.

**【CFO Financial Commentary】**
- **Medical Cannabis Dominance**: 77% of net revenue, 90% of adjusted gross profit. Canada +6%, international +112%. Adjusted gross margin 74% (vs. 63% last year).
- **Bevo Growth**: Revenue $8.9M (+22% YoY), margin 40% (vs. 28% last year). Seasonal peak in Q4.
- **Free Cash Flow Drivers**: Higher medical revenue, disciplined CapEx, and working capital management. Positive free cash flow expected to continue.

**【Q&A Key Highlights】**
- **Supply Constraints**: No issues meeting demand in key markets. Competitive advantage from EU/TGA GMP compliance and local manufacturing (e.g., Germany).
- **International Competition**: Consolidated markets with 2-3 major players. Higher barriers to entry (regulatory, capital) limit new entrants.
- **Capital Allocation**: Focus on medical cannabis expansion, R&D, and accretive M&A. No plans for consumer cannabis investment.
- **Germany Growth**: Patient registrations up 100% YoY. Self-pay patients driving growth, but insurance coverage expanding.
- **M&A Strategy**: Opportunistic, prioritizing high-margin medical cannabis opportunities. Recent MedReleaf Australia acquisition contributed significantly to Q3 growth.

Actual											-9.6252	-122.3201	-6.7378	-13.6578	-6.7629	-5.3299	-1.32	-1.4452	-1.8443	-0.6035	0	-0.3773	-0.2953	0.0585	-0.1626	0.3961	-0.2432	-0.191	-0.6534	0.0218
Forecast											-5.8219	-4.8243	-3.128	-2.4306	-1.9509	-2.1774	-0.99	-0.6232	-1.918	-0.3923	-0.4785	-0.1014	-0.1329	-0.1266	-0.0797	0.0034	0.0879	0.1195	0.0112	0.0972
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-65.33%	-2435.50%	-115.40%	-461.91%	-246.66%	-144.78%	-33.33%	-131.90%	+3.84%	-53.84%	+100.00%	-272.09%	-122.20%	+146.21%	-104.02%	+11550.00%	-376.68%	-259.83%	-5933.93%	-77.57%

Actual	--	--	--	--	--	--	--	--	--	--	53.06M	52.95M	50.77M	53.12M	43.89M	44.26M	38.25M	44.58M	47.23M	56.66M	46.67M	48.60M	49.76M	60.97M	59.95M	61.29M	62.91M	72.00M	64.88M	68.58M
Forecast	--	--	--	--	--	--	--	--	--	--	47.58M	53.72M	47.59M	54.50M	54.68M	45.53M	40.81M	40.45M	47.95M	56.86M	46.44M	47.82M	51.34M	56.67M	51.56M	55.50M	61.72M	70.76M	62.05M	67.26M
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+11.50%	-1.43%	+6.68%	-2.54%	-19.74%	-2.77%	-6.27%	+10.22%	-1.50%	-0.36%	+0.50%	+1.63%	-3.07%	+7.57%	+16.29%	+10.43%	+1.93%	+1.75%	+4.57%	+1.95%

ACB

ACB fundamentals

ACB Q3 2026 Earnings

Earnings Call

You can ask Aime

ACB

ACB fundamentals

ACB Q3 2026 Earnings

Earnings Call

ACB Earnings Call Summary for Q3/20268:00 AM on Feb 4, 2026

ACB Earnings Call Summary for Q2/20268:00 AM on Nov 5, 2025

ACB Earnings Call Summary for Q1/20268:00 AM on Aug 6, 2025

ACB Earnings Call Summary for Q4/20258:00 AM on Jun 18, 2025

ACB Earnings Call Summary for Q3/20258:00 AM on Feb 5, 2025

You can ask Aime