Aurora Reports Medical Cannabis Represents 91% Of Q4 Sales

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) reported total net revenue of $84.8 million in the fourth quarter of fiscal 2026. That’s a 10% year-over-year increase from $76.8 million, driven by strong medical cannabis performance.

Medical cannabis revenue was $77.1 million, up 14% over the same period, accounting for 91% of the company’s fourth-quarter consolidated net revenue, and was led by growth in Germany, Poland, and Canada. Aurora’s consumer cannabis net revenue was $3.6 million, compared to $8.2 million in the prior-year period, as the company continues to exit this segment.

“Our performance validates Aurora’s global medical cannabis strategy, which has positioned us as a leading provider in Canada, Europe, Australia, and New Zealand,” Miguel Martin, the company’s executive chairman and CEO, said in a press release.

Aurora’s role in medical cannabis is supported by strong regulatory capabilities, an expanded EU-GMP facility network, and proven ability to deliver commercially, Martin continued.

“We are confident that these attributes create a competitive advantage as we navigate the evolving industry dynamics to maintain and expand global market share, while driving international growth,” he concluded.

Q4 2026 Financial Highlights

• Adjusted net income was $5.6 million, compared to $15.3 million for the prior year period.
• Adjusted gross margin was 60%, down from 65% in the prior year’s period.
• Adjusted EBITDA came in positive at $9.2 million, representing a 34% year-over-year decrease.
• Adjusted selling, general and administrative expenses totaled $40.3 million, up 14% year-over-year.
• Net loss widened to $27.6 million, compared to $12.1 million in last year.
• Free cash flow was $0.3 million, down sharply from $5.2 million.

Other Business Highlights & 2027 Outlook

• Aurora completed the divestiture of its 50.1% ownership interest in Bevo Agtech Inc on Feb. 17, 2026.
• The company acquired Safari Flower Company for $26.5 million, adding an EU-GMP cultivation facility.
• Aurora said that its strategic focus shifts toward global medical cannabis expansion.
• It expects lower revenue in 2027, but improved margins and continued international growth focus.

ACB Price Action

Aurora’s shares traded 8.82% lower at $2.995 per share at the time of writing on Thursday morning.