Aurora Cannabis Provides Business Update; Accretive Acquisition of Safari Flower Company and Leading European Performance Expected to Fuel International Growth in the Fiscal Second Quarter 2027 and Beyond

Aurora pairs an accretive EU-GMP acquisition and EU market gains with reaffirmed FY27 Q2 guidance and a cash-rich, debt-free balance sheet.

Rhea-AI Summary

Aurora Cannabis (ACB) reaffirmed its fiscal 2027 Q2 guidance for sequential growth in quarterly net revenue and adjusted EBITDA, supported by recent acquisitions and international strength.

The accretive acquisition of Safari Flower Company, which received EU-GMP certification in July, is expected to add incremental net revenue and adjusted EBITDA and expand critical EU-GMP production capacity. Aurora highlights continued strong, profitable performance in Germany and Poland, including #1 market share by revenue in Poland, and ongoing UK expansion via the acquisitions of Internode Pharma and HAP Pharma Limited. The company reports a strong balance sheet with $149 million in cash as of June 30, 2026 and no debt, and plans continued investment in international markets to drive long-term medical cannabis growth.

Positive

• FY27 Q2 guidance reaffirmed for sequential growth in net revenue and adjusted EBITDA
• Safari Flower acquisition expected to add incremental net revenue and adjusted EBITDA
• Strong international performance with #1 market share by revenue in Poland
• UK expansion supported by acquisitions of Internode Pharma and HAP Pharma
• $149 million in cash and no debt as of June 30, 2026

Negative

• None.

News Explained

Aurora said its ATM program will be used only if the Board determines that doing so is in the Company’s best interest. An ATM lets the issuer sell new shares gradually at prevailing prices, so any future use could add shares while raising funds; this release does not report that an issuance has occurred.

Market Context

ACB was up 0.26% pre-headline; the April 15 Safari acquisition announcement was followed by a 4.25% ...

Analysis

ACB was up 0.26% pre-headline; the April 15 Safari acquisition announcement was followed by a 4.25% 24-hour gain, providing a directly comparable market record for the same transaction.

Key Figures

Cash: $149 million Debt: No debt Q2 FY27 guidance: Sequential growth +1 more

Cash

$149 million

As of June 30, 2026

Debt

No debt

As of June 30, 2026

Q2 FY27 guidance

Sequential growth

Quarterly net revenue and adjusted EBITDA

EU-GMP certification

July 2026

Safari Flower Company

Previous Acquisition Reports

2 past events · Latest: Aug 19

Same Type 2 events

1. Aug 19

   UK acquisitions

   24h Move

   +6.5%

   Acquisitions expanded Aurora’s UK import, distribution and pharmacy ownership.

2. Apr 15

   Safari acquisition

   24h Move

   +4.3%

   Safari expanded EU-GMP cultivation and manufacturing capacity for international markets.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

eu-gmp, adjusted ebitda, atm program, non-gaap financial measures

4 terms

eu-gmp regulatory

"Following the receipt of EU-GMP certification in July"

EU‑GMP is a regulatory standard that certifies pharmaceutical and related manufacturing facilities in the European Union meet strict quality and safety rules for producing medicines and medical products. For investors, an EU‑GMP certificate is like a trusted food‑safety rating for a factory: it signals lower regulatory and supply risk, access to EU markets, and greater confidence that products are consistently made to required specifications.

adjusted ebitda financial

"reaffirms its fiscal year 2027 Q2 guidance for sequential growth"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

atm program financial

"the ATM program will only be used when the Board determines"

An at-the-market (ATM) program is an arrangement that lets a publicly traded company sell newly issued shares gradually into the open market at prevailing prices, through a designated broker-dealer, instead of raising money in one large offering. It gives the company flexible, lower-cost fundraising; for existing shareholders it matters because each sale adds to the share count, which can dilute their ownership stake.

non-gaap financial measures financial

"certain non-GAAP financial measures, which are intended to supplement"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NASDAQ| TSX: ACB

• Re-affirms FY27 Q2 guidance for sequential growth in quarterly net revenue and adjusted EBITDA¹
• Following the receipt of EU-GMP certification in July, Safari Flower Company is expected to contribute incremental net revenue and adjusted EBITDA¹ 
• Continued strong performance in Germany and Poland, contributing to profitable international growth expectations and leadership positions in the two largest EU markets, including #1 market share by revenue in Poland
• UK market expansion underway, with recently announced acquisition of Internode Pharma and HAP Pharma Limited expected to support further market share growth

EDMONTON, AB, Sept. 16, 2026 /PRNewswire/ -- Aurora Cannabis Inc. ("Aurora" or the "Company") (TSX: ACB) (NASDAQ: ACB), the leading Canadian-based global medical cannabis company, today provided a business update, highlighting the expected additional benefits of the Safari Flower Company acquisition, continued strong performance in key high margin international markets, and reaffirmed its fiscal year 2027 Q2 guidance.

"We remain focused and confident in executing our global growth strategy that at its core leverages our leadership position as one of the world's largest indoor EU-GMP certified producers and are excited by the continued momentum we are generating in key international markets," said Miguel Martin, Executive Chairman and CEO of Aurora.

"We are building real value in global medical cannabis markets where Aurora has earned a stellar reputation by investing in infrastructure, scientific excellence, and regulatory expertise to maximize opportunities in the industry's most attractive, durable and profitable segment. Our leading market share in Canada, Europe, Australia and New Zealand clearly demonstrates that Aurora's high-quality medical cannabis products are a preferred choice for physicians and patients alike. We are also ready and able to export to other countries, as regulatory environments continue to open," added Mr. Martin.

"The accretive acquisition of Safari Flower Company is adding critical EU-GMP capacity and together with our established internal supply network, and the recent acquisitions in the UK, we have built a consistent and reliable availability of high-quality medical cannabis products to meet growing patient demand in the estimated $9 billion market for global medical cannabis," concluded Mr. Martin.

Aurora reaffirms its fiscal year 2027 Q2 guidance for sequential growth in quarterly net revenue and adjusted EBITDA¹. This outlook reflects the strategic steps taken to focus exclusively on global medical cannabis. Aurora's growth is further supported by a strong balance sheet with $149 million in cash² as of June 30, 2026, and no debt, noting that the ATM program will only be used when the Board determines it is in the best interest of the Company to do so. Aurora will continue to invest over the next several quarters in its international business to support growth in key markets and position the Company to create greater shareholder value.

_________________________________________

1 Note this press release includes certain non-GAAP financial measures, which are intended to supplement, not substitute for, comparable GAAP financial measures. These measures are not standardized financial measures under the financial reporting framework used to prepare Aurora's financial statements and might not be comparable to similar financial measures disclosed by other issuers. These terms and the reconciliations to the most comparable GAAP measures are defined in the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of the FY27 Q1 MD&A, filed August 5, 2026, which can be found on Sedar+, EDGAR and Aurora's website.

2 "Cash" refers to cash, restricted cash. short term investments and cash equivalents as of June 30, 2026, as filed in our financial statements on August 5,2026 which can be found on Sedar+, EDGAR and Aurora's website.

About Aurora Cannabis

Aurora is a global leader in medical cannabis, dedicated to improving lives through scientific expertise, proven performance, and a deep commitment to patient care. Aurora serves medical markets across Canada, Europe, Australia, and New Zealand with a portfolio of trusted, leading brands including Aurora®, MedReleaf®, Pedanios®, IndiMed™, San Raf®, and Whistler Medical Marijuana Corporation®. With world-class GMP-certified manufacturing facilities in Canada and Germany, and a team of industry-leading professionals, Aurora continues to expand its global footprint and deliver consistent, high-quality cannabis products with the purpose of Opening the World to Cannabis™. 

Learn more at www.auroramj.com and follow us on X and LinkedIn.

Aurora's common shares trade on the NASDAQ and TSX under the symbol "ACB".

Forward Looking Statements

This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements made in this news release include, but are not limited to, statements regarding expectations for the Company's FY27 Q2 results, including but not limited to, expectations for sequential growth in quarterly net revenue and adjusted EBITDA¹; expected continued benefits of the Safari Flower Company acquisition, including the contribution of incremental net revenue and adjusted EBITDA¹; expectations for continued strong performance in key high margin international markets, including Germany and Poland contributing to profitable international growth; expectations for further market expansion in the UK, including expected benefits of the acquisitions of Internode Pharma and HAP Pharma Limited to support further market share growth; the Company's continued leading market share in Canada, Europe, Australia and New Zealand; the Company's ability to export to other countries, as regulatory environments continue to open; the Company's increased internal capacity expansion plans; patient demand and size of the global medical cannabis market; and statements regarding the Company's continued investment over the next few quarters in its international business to support growth in key markets and to position itself to create greater shareholder value.

 These forward-looking statements are only predictions. Forward-looking information or statements contained in this news release have been developed based on the Company and its management's good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company's business and operations in the future. Forward-looking information and statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management at the date the statements are made including, among other things, assumptions about: development costs remaining consistent with budgets; the ability to manage anticipated and unanticipated costs; access to favorable equity and debt capital markets; the ability to raise sufficient capital to advance the business of the Company; favorable operating and economic conditions; political and regulatory stability; obtaining and maintaining all required licenses and permits; receipt of governmental approvals and permits; sustained labour stability; stability in financial and capital goods markets; favorable production levels and costs from the Company's operations; the pricing of various cannabis products; the level of demand for cannabis products; the availability of third-party service providers and other inputs for the Company's operations; and the Company's ability to conduct operations in a safe, efficient, and effective manner. The Company does not give any assurance that the assumptions on which forward-looking information or statements are based will prove to be correct, or that the Company's business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company's control. Such forward-looking statements are estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. These risks include, but are not limited to, the ability to retain key personnel, the ability to continue investing in infrastructure to support growth, the ability to obtain financing on acceptable terms, the continued quality of our products, customer experience and retention, the development of third party government and non-government consumer sales channels, management's estimates of consumer demand in Canada and in jurisdictions where the Company exports, expectations of future results and expenses, the availability of additional capital to complete construction projects and facilities improvements, the risk of successful integration of acquired business and operations, management's estimation that SG&A will grow only in proportion to revenue growth, the ability to expand and maintain distribution capabilities, the impact of competition, the general impact of financial market conditions, the yield from cannabis growing operations, product demand, changes in prices of required commodities, competition, and the possibility for changes in laws, rules, and regulations in the industry, epidemics, pandemics or other public health crisis, and other risks as set out under the heading "Risk Factors" in the Company's annual information form dated June 10, 2026 (the "AIF") and filed with Canadian securities regulators available on the Company's issuer profile on SEDAR+ at www.sedarplus.com and filed with and available on the SEC's website at www.sec.gov. The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.

Non-GAAP Measures

This news release contains reference to certain financial performance measures that are not recognized or defined under IFRS (termed "Non-GAAP Measures"). As a result, this data may not be comparable to data presented by other licensed producers of cannabis and cannabis companies. Non-GAAP Measures should be considered together with other data prepared in accordance with IFRS to enable investors to evaluate the Company's operating results, underlying performance and prospects in a manner similar to Aurora's management. Accordingly, these non-GAAP Measures are intended to provide additional information and to assist management and investors in assessing financial performance and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The information included under the heading "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" in the FY27 Q1 MD&A is incorporated by reference into this news release. The MD&A is available on the Company's issuer profiles on SEDAR+ at www.sedarplus.com and on the U.S. Securities and Exchange Commission's (the "SEC") EDGAR website at www.sec.gov.

 

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SOURCE Aurora Cannabis Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How is Safari Flower Company expected to contribute to Aurora's results?

Safari Flower Company, which received EU-GMP certification in July, is expected to contribute incremental net revenue and adjusted EBITDA. The company states that this accretive acquisition adds critical EU-GMP capacity that, together with Aurora's internal supply network, supports reliable availability of high-quality medical cannabis products.

What international markets are currently driving Aurora's profitable growth expectations?

Aurora highlights Germany and Poland as key high-margin international markets, with leadership positions in both and #1 market share by revenue in Poland. The company also indicates that UK market expansion is underway, supported by the acquisitions of Internode Pharma and HAP Pharma Limited.

What does Aurora include in its reported $149 million cash balance?

The company defines "cash" as cash, restricted cash, short-term investments and cash equivalents, totaling $149 million as of June 30, 2026, based on its previously filed financial statements.

How does Aurora plan to use its ATM program?

Aurora states that its at-the-market equity program will only be used when the Board determines that doing so is in the best interest of the company.