Aurora Cannabis Reports 9% Q1 Revenue YoY Decline As International Medical Sales Grow 17%

Jelena MartinovicBy , Featured Writer
Burn After Reading The 30-second intel for operators and investors

Aurora Cannabis' first-quarter revenue falls 9% year over year to CA$67.6 million, as a 25% drop in Canadian medical sales and the planned consumer exit outweigh 17% growth in international medical revenue to CA$43.3 million.

  • Operators: International medical demand, led by Germany, is where growth sits, and Aurora is investing in EU-GMP capacity to serve it. Canadian medical sellers face pressure from lower federal reimbursement rates, which cut Aurora's domestic sales 25%.
  • Investors: Profitability weakened: adjusted EBITDA fell to CA$3.4 million from CA$10.8 million, adjusted gross margin slipped to 58% from 64%, and free cash flow turned negative at CA$5.8 million. Aurora reports $149.1 million in cash and no debt.
  • Do now: Compare your own revenue mix against reimbursement exposure in Canada and export demand in Germany, and check whether your EU-GMP capacity plans match where your growth is coming from.
Short on time? You’re done. Want the numbers?Keep reading ↓

Canadian medical cannabis giant Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) announced on Wednesday that its first-quarter revenue declined 9% year-over-year to CA67.6 million ($48.2 million).

Medical cannabis sales dropped 1% over the same period to CA$64 million. International medical revenue climbed 17% to CA$43.3 million on strong demand in Germany. The management said it continues to invest in EU-GMP production capacity to support expanding demand in Europe.

Canadian medical sales fell 25% to CA$20.7 million due to lower federal reimbursement rates.

Consumer cannabis revenue decreased to CA$2.1 million from CA$7.9 million as Aurora Cannabis advances its planned exit from the segment.

“We remain confident in our commercial execution, supported by our genetics program and regulatory and operational expertise which underpin our leadership in Canada, Germany, Poland, Australia, and New Zealand,” Miguel Martin, executive chairman and CEO, said in a press release. “These competitive advantages support our strategy to invest further in EU-GMP manufacturing capacity so that we can supply growing international markets for medical cannabis and thereby maintain and expand our market share.”

Q1 2027 Financial Highlights

  • Adjusted EBITDA came in positive at CA$3.4 million. That’s down from CA$10.8 million in the prior year’s period.
  • Adjusted gross margin declined year-over-year from 64% to 58%.
  • Adjusted net income was CA$3.8 million, representing a decrease from CA$6.6 million in the first quarter of fiscal 2026.
  • Net loss from continuing operations totaled CA$4 million, representing an improvement from a CA$10.2 million loss in the prior year’s period.
  • Free cash flow fell to negative CA$5.8 million, compared with positive CA$6.8 million in the corresponding quarter of fiscal 2026.
  • Aurora Cannabis said it has maintained a strong balance sheet with $149.1 million of cash, cash equivalents and short-term investments with no debt.

ACB Price Action

Aurora Cannabis’ shares traded 0.71% lower at $2.79 per share at the time of writing on Wednesday.

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Jelena Martinovic
August 5, 2026
Covers cannabis news, markets and regulation for IgniteIt. Previously wrote about financial markets for Benzinga and Insider Monkey.
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