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Aurora Cannabis (NASDAQ: ACB) Q1 2027 revenue down 9%

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(Neutral)
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6-K

Rhea-AI Filing Summary

Aurora Cannabis reported fiscal 2027 first‑quarter net revenue of $67.6 million, down 9% from $74.1 million a year earlier, mainly from lower Canadian medical revenue and the wind down of consumer cannabis, partly offset by higher international medical and wholesale bulk sales. Adjusted gross margin before fair value adjustments on total revenue was 58%, down from 64%.

Medical cannabis net revenue was $64.0 million, with Canadian medical declining 25% to $20.7 million after federal reimbursement cuts, while international medical rose 17% to $43.3 million on higher German demand. Consumer cannabis revenue fell to $2.1 million as the company exits this business.

Net loss from continuing operations narrowed to $4.0 million from $10.2 million, but adjusted EBITDA decreased to $3.4 million from $10.8 million and free cash flow moved to an outflow of $5.8 million from an inflow of $6.8 million. Working capital was $320.0 million. Aurora completed the Safari Flower Company acquisition, adding a 59,000 square foot EU‑GMP certified facility with planned growth capex of about $3.5 million. The company reiterates its full‑year 2027 outlook and states it expects fiscal Q2 revenue and adjusted EBITDA to be sequentially higher.

Positive

  • International medical cannabis net revenue rose 17% to $43.3 million, driven mainly by higher sales in Germany and increased patient demand.
  • Net loss from continuing operations narrowed to $4.0 million from $10.2 million, helped by higher gross profit, lower operating expenses, and higher other income.
  • Gross margin improved to 53% from 45%, supported by a larger gain on changes in fair value of biological assets.
  • Working capital was $320.0 million, up from $308.4 million, reflecting total current assets of $393.4 million and current liabilities of $73.4 million.
  • The accretive acquisition of Safari Flower Company adds a 59,000 sq. ft. EU‑GMP certified facility to support high‑margin international medical markets.

Negative

  • Total net revenue declined 9% to $67.6 million, primarily due to lower Canadian medical cannabis sales and the wind down of consumer cannabis.
  • Canadian medical cannabis net revenue fell 25% to $20.7 million after federal reimbursement rates were reduced by approximately 30%.
  • Consumer cannabis revenue dropped to $2.1 million from $7.9 million as that business is wound down, with lower margins from discounted inventory sell‑through.
  • Adjusted EBITDA decreased to $3.4 million from $10.8 million, mainly reflecting an $8.3 million decline in adjusted gross profit before fair value adjustments.
  • Free cash flow shifted to an outflow of $5.8 million from an inflow of $6.8 million, largely due to lower gross profit before fair value adjustments.
Net revenue 67,554 ($ thousands) Three months ended June 30, 2026 net revenue; 74,076 ($ thousands) in prior-year quarter
International medical cannabis net revenue 43,337 ($ thousands) Q1 FY27 international medical cannabis net revenue; 37,094 ($ thousands) a year earlier
Canadian medical cannabis net revenue 20,699 ($ thousands) Q1 FY27 Canadian medical cannabis net revenue; 27,674 ($ thousands) in prior-year quarter
Adjusted EBITDA 3,443 ($ thousands) Adjusted EBITDA for three months ended June 30, 2026 vs 10,815 ($ thousands) in prior year
Net loss from continuing operations (4,033) ($ thousands) Net loss from continuing operations for three months ended June 30, 2026
Free cash flow (5,793) ($ thousands) Free cash flow for three months ended June 30, 2026 vs 6,772 ($ thousands) a year earlier
Gross margin 53 % Gross margin for three months ended June 30, 2026; 45 % in prior-year period
Working capital 320,020 ($ thousands) Working capital at June 30, 2026 vs 308,416 ($ thousands) at June 30, 2025
Adjusted EBITDA financial
"Adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA") (4)"
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.
EU-GMP regulatory
"59,000 square foot EU-GMP certified indoor cultivation and manufacturing facility"
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.
free cash flow financial
"Free cash flow (2) | (5,793) | 6,772"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
working capital financial
"Working capital | 320,020 | 308,416"
Working capital is the money a business has available to cover its daily expenses, like paying bills and buying supplies. It’s like the cash in your wallet that helps you handle everyday costs; having enough ensures the business can operate smoothly without running into money shortages.
business transformation costs financial
"Business transformation costs (1) | 5,109 | 5,232"
Business transformation costs are one-time or short-term expenses a company incurs to change how it operates—such as restructuring, new technology, layoffs, or retraining—so it can compete better in the future. Investors care because these costs reduce near-term profits and cash flow but may improve long-term efficiency and competitiveness; think of it as paying for a renovation that temporarily disrupts a store but aims to increase future sales and lower running costs.

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FAQ

How did Aurora Cannabis (ACB) Q1 2027 revenue perform?

Aurora Cannabis reported net revenue of $67.6 million in Q1 2027, a 9% decline from $74.1 million a year earlier. The decrease was mainly driven by lower Canadian medical cannabis revenue and the planned wind down of consumer cannabis, partly offset by stronger international medical and wholesale bulk sales.

What were Aurora Cannabis (ACB) Q1 2027 medical cannabis results?

Total medical cannabis net revenue was $64.0 million, roughly flat year over year. Canadian medical revenue fell 25% to $20.7 million after lower federal reimbursement rates, while international medical revenue increased 17% to $43.3 million, mainly from higher patient demand in Germany.

Was Aurora Cannabis (ACB) profitable in Q1 2027?

Aurora reported a net loss from continuing operations of $4.0 million in Q1 2027, improving from a $10.2 million loss a year earlier. However, adjusted net income was $3.8 million and adjusted EBITDA was $3.4 million, both down versus the prior‑year quarter.

How did Aurora Cannabis (ACB) Q1 2027 cash flow and liquidity look?

Free cash flow was an outflow of $5.8 million, compared with a $6.8 million inflow in the prior year. The company reported strong liquidity, with working capital of $320.0 million based on $393.4 million of current assets and $73.4 million of current liabilities at June 30, 2026.

What is the significance of the Safari Flower Company acquisition for Aurora Cannabis (ACB)?

Aurora closed the Safari Flower Company acquisition on April 14, 2026, adding a 59,000 square foot EU‑GMP certified facility. Management expects this capacity to support high‑margin international growth and plans about $3.5 million of growth capital over three years to enhance efficiency and output.

What outlook did Aurora Cannabis (ACB) provide for fiscal 2027?

Aurora reiterated its full‑year 2027 outlook, emphasizing a focus on global medical cannabis after exiting low‑margin Canadian consumer and plant propagation. The company states it expects fiscal second‑quarter revenue and adjusted EBITDA to be sequentially higher than in the first quarter.

 

 

  

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2026

Commission File No. 001-38691

AURORA CANNABIS INC.
(Translation of registrant's name into English)

 

2207 90B St. SW
Edmonton, Alberta T6X 1V8
Canada

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F

Form 20-F  ☐ Form 40-F  ☒

 

 

 
 

 

 

 

SUBMITTED HEREWITH

 

Exhibits Description 
99.1   News release dated August 5, 2026

 

 
 

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

AURORA CANNABIS INC.

/s/ Miguel Martin

 


Miguel Martin
Chief Executive Officer

Date: August 5, 2026

Exhibit 99.1 

 

 

 

 

 

 

Aurora Cannabis Announces Fiscal 2027 First Quarter Results

NASDAQ | TSX: ACB

Delivers Net Revenue of $67.6 million, including a 17% YoY Increase in International Medical Cannabis Net Revenue
Safari Flower Company Receives Three-Year EU-GMP Certification, Strengthens Ability to Supply Growing, High-Margin International Medical Cannabis Markets
Maintains Strong Balance Sheet with $149.1 million of Cash, Cash Equivalents2and Short-Term Investments with no Debt

EDMONTON, AB, Aug. 5, 2026 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (NASDAQ: ACB) (TSX: ACB), a leading Canada-based global medical cannabis company, today announced its financial and operational results for the first quarter 2027 ending June 30, 2026.

 

 

FY27 Q1 Earnings

"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. 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," said Executive Chairman and Chief Executive Officer for Aurora, Miguel Martin.

"The first quarter reflects our continued strength, as we delivered international revenue growth and leading adjusted gross margins1, anchored by a cost structure designed to support topline growth. In the second quarter, we expect both revenue and Adjusted EBITDA1 to improve sequentially, driven by increasing global patient demand for medical cannabis," concluded Mr. Martin.

[1] This news release includes certain non-GAAP financial measures, which are intended to supplement, not substitute for, comparable GAAP financial measures. See "Non-GAAP Measures" below for reconciliations of non-GAAP financial measures to GAAP financial measures.
[2] Cash and Cash Equivalents refers to cash, restricted cash and cash equivalents.

 

 

First Quarter 2027 Highlights

(Unless otherwise stated, comparisons are made between fiscal Q1 2027 and Q1 2026 results and are in Canadian dollars)

On February 17, 2026, the Company completed the divestiture of its 50.1% ownership interest in Bevo Agtech Inc. ("Bevo"). As such, Bevo has been excluded from the Company's comparative figures, due to its classification as a discontinued operation.

Consolidated Revenue and Adjusted Gross Profit:
Total net revenue was $67.6 million, as compared to $74.1 million in the prior year period. The 9% decrease was mainly due to lower quarterly net revenue in Canadian medical cannabis and the wind down in consumer cannabis, offset by higher net revenue in international medical cannabis and wholesale bulk cannabis.

Consolidated adjusted gross margin before fair value adjustments1 was 58% and 64% in the prior year period. Adjusted gross profit before FV adjustments1 was $39.5 million compared to $47.7 million in the prior year period.

Medical Cannabis:
Medical cannabis net revenue was $64.0 million, as compared to $64.8 million in the prior year period, a 1% decrease.

Canadian medical cannabis net revenue1 was $20.7 million, as compared to $27.7 million in the prior year period. The 25% decrease was mainly due to changes in the federal reimbursement program effective April 1, 2026, which lowered reimbursement rates by approximately 30%.

International medical cannabis net revenue increased to $43.3 million from $37.1 million in the prior year period. The 17% increase was mainly due to higher sales in Germany driven by increased patient demand.

Adjusted gross margin before fair value adjustments1 on medical cannabis net revenue1 was 61% as compared to 69% in the prior year

 

period.The year-over-year decrease was mainly due to changes to the federal reimbursement program effective April 1, 2026, which decreased reimbursement rates by approximately 30%.

Consumer Cannabis:
Aurora's consumer cannabis net revenue was $2.1 million, compared to $7.9 million in the prior year period. The decrease was due to our strategic shift to focus on Canadian and international medical cannabis and wind down our consumer cannabis business.

Adjusted gross margin before fair value adjustments1 on consumer cannabis net revenue1 was 20%, compared to 33% in the prior year period. The decrease was mainly due to the company selling products at reduced prices to reduce inventory impairments related to the wind down of the consumer channel.

Adjusted Selling, General and Administrative ("Adjusted SG&A"):
Adjusted SG&A1 was $35.1 million, compared to $36.1 million in the prior year period.

Net Income (Loss):

Net loss from continuing operations was $4.0 million, compared to $10.2 million for the prior year period. The decrease in net loss from continuing operations of $6.2 million was a combination of an increase in gross profit of $2.1 million, a decrease in operating expenses of $1.1 million and an increase in other income of $3.4 million. The increase in gross profit includes an increase in gain on changes in fair value of biological assets of $12.6 million, partially offset by a decrease in net revenue of $6.5 million.

Adjusted Net Income:
Adjusted net income1 was $3.8 million compared to $6.6 million for the prior year period. The decrease of $2.8 million was mainly due to a decrease in adjusted gross profit before fair value adjustments of $8.3 million, partially offset by a decrease in adjusted SG&A of $1.0 million and an increase in other income of $3.4 million.

Adjusted EBITDA: 
Adjusted EBITDA1 was $3.4 million compared to $10.8 million for the prior year period. The decrease of $7.4 million was mainly due to a decrease of $8.3 million in adjusted gross profit before fair value adjustments partially offset by a decrease in adjusted SG&A of $1.0 million.

Free Cash Flow:
Free cash flow was an outflow $5.8 million compared to an inflow $6.8 million in the prior year period. The decrease in free cash flow of $12.6 million was primarily due to a decrease in gross profit before fair value adjustments of $9.7 million.

Safari Flower Company Acquisition:
The accretive acquisition of Safari Flower Company ("Safari"), which closed on April 14, 2026, provides us with a 59,000 square foot EU-GMP certified indoor cultivation and manufacturing facility, adding critical EU GMP capacity to support further revenue growth in the expanding, high margin international markets.

This incremental capacity is expected to improve product availability and speed to market, while also reducing reliance on third-party suppliers, which should help drive top line growth. We intend to invest approximately $3.5 million over the next three years in growth capital improvements to drive operational efficiencies and maximize cultivation output to deliver reduced manufacturing costs and higher margins.

On July 23, 2026, we announced that Safari received its EU-GMP certification for its Ontario facility, which is granted for a three-year term. For further information relating to this transaction please refer to the 'Investing Activities' section of the FY27 Q1 MD&A.

Fiscal Full Year 2027 Outlook (Unchanged):
Our reiterated outlook now capitalizes on the strategic decisions taken to exit our low margin Canadian Consumer and Plant Propagation businesses, which will allow the Company to reallocate resources to

 

focus exclusively on global medical cannabis. We believe this is our highest return and growth opportunity to create shareholder value.

Over the next few quarters, we are purposely investing in our international business through strategic sales initiatives and EU-GMP capacity expansion to support growth in our most profitable markets. This includes our new wholly owned subsidiary, Safari Flower Company, a trusted cultivator and manufacturer of high-quality medical cannabis, which provides incremental capacity to support further revenue growth in our key high margin international markets.

These investments support our goal of driving the business to new records for revenue and adjusted EBITDA and generate sustained returns for our shareholders in the long term.

In the fiscal second quarter, we expect revenue and adjusted EBITDA to be sequentially higher than in the fiscal first quarter.

Key Quarterly Financial Results

($ thousands) Three months ended
June 30, 2026 June 30, 2025
Financial Results    
Net revenue (1) 67,554 74,076
Medical cannabis net revenue(2) 64,036 64,768
     
Gross profit 35,622 33,528
Gross profit before fair value ("FV") adjustments (1) 29,192 38,849
Gross margin (3) 53 % 45 %
Gross margin before FV adjustments (3) 43 % 52 %
Adjusted gross margin before FV adjustments on total net revenue (4) 58 % 64 %
Adjusted gross margin before FV adjustments on medical cannabis net revenue (4) 61 % 69 %
     
Operating expenses 44,353 45,470
General and administration 24,602 26,872
Sales and marketing 15,591 14,455
Adjusted selling, general & administration expense ("adjusted SG&A")(4) 35,084 36,095
Other income (expenses) 5,101 1,685
     
Net loss from continuing operations (4,033) (10,186)
Net income (loss) from discontinued operations, net of taxes  - (9,679)
Net loss (4,033) (19,865)
Adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA") (4) 3,443 10,815
Adjusted net income (4) 3,811 6,598
     
Net cash provided by (used in) operating activities from continuing operations (4,446) 7,679

Free cash flow (4) (5,793) 6,772

 

(1) As presented in the interim condensed consolidated statements of loss and comprehensive loss.
(2) See "Net Revenue" section in the MDA.
(3) Gross margin and Gross margin before FV adjustments, respectively, are calculated as gross profit and gross profit before FV adjustments, respectively, divided by net revenue.
(4) These terms are defined in the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of the MD&A, including information on reconciliation to the most directly comparable IFRS measure. See "Non-GAAP Measures" below for reconciliations of non-GAAP financial measures to GAAP financial measures.

 

Conference Call

Aurora will host a conference call today, Wednesday, August 5, 2026, to discuss these results. Miguel Martin, Chief Executive Officer, and Simona King, Chief Financial Officer, will host the call starting at 8:00 a.m. Eastern time | 6:00 a.m. Mountain Time. A question and answer session will follow management's presentation.

DATE: Wednesday, August 5, 2026
TIME: 8:00 a.m. Eastern Time | 6:00 a.m. Mountain Time
WEBCAST: Click Here

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™. 

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 law ("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 the Company's fiscal 2027 first quarter results;

 

competitive advantages, including but not limited to commercial execution, genetics, and regulatory and operational expertise; the Company's leadership in Canada, Germany, Poland, Australia, and New Zealand; the Company's ability to invest further in EU GMP manufacturing capacity; the Company's ability to continue to supply growing international medial cannabis markets; growth opportunities; expectations for improvements in revenue, Adjusted EBITDA, and increased global patient demand for medical cannabis; the acquisition of Safari Flower Company and related benefits for the Company, including increased supply to international markets and reduced reliance on third party purchases; the Company's planned investment in growth capital improvements to improve operational efficiencies and to maximize cultivation output; statements made under the heading "Fiscal Full Year 2027 Outlook (Unchanged)", including but not limited to, statements regarding the reallocation of resources to focus on global medical cannabis, the Company's planned investment in the international business through strategic sales initiatives and EU-GMP capacity expansion to support growth in its most profitable markets, and expectations for those efforts to help offset the impact of margin reductions in the Canadian medical business; and expectations for revenue and Adjusted EBITDA in the fiscal 2027 second quarter.

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 11, 2026 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 law.

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.

Net Revenue, Adjusted Gross Profit and Margin

Net revenue, adjusted gross profit before FV adjustments, and adjusted gross margin before FV adjustments are Non-GAAP

 

Measures and can be reconciled with revenue, gross profit and gross margin, the most directly comparable GAAP financial measures, respectively, as follows:

($ thousands) Three months ended
June 30, 2026 June 30, 2025
Medical cannabis net revenue:    
     Canadian medical cannabis net revenue 20,699 27,674
     International medical cannabis net revenue 43,337 37,094
Total medical cannabis net revenue 64,036 64,768
     Consumer cannabis net revenue 2,060 7,875
     Wholesale bulk cannabis net revenue 1,458 1,433
Total net revenue(1) 67,554 74,076

(1) As presented in the interim condensed consolidated statements of loss and comprehensive loss.

Adjusted EBITDA

The following is the Company's adjusted EBITDA:

($ thousands) Three months ended
June 30, 2026 June 30, 2025 (3)
Net loss from continuing operations (4,033) (10,186)
Income tax expense (recovery) 403 (71)
Other income (5,101) (1,685)
Share-based compensation 693 2,186
Depreciation and amortization 3,427 3,560
Business development costs 1,589 361
Inventory and biological assets fair value and impairment adjustments 1,356 11,418
Business transformation costs (1) 5,109 5,232
Adjusted EBITDA (2) 3,443 10,815

 

(1) Business transformation related charges include costs related to restructuring, certain IT project costs, sublease income, severance and retention costs in connection with the consumer channel exit, and legal provisions.
(2) Adjusted EBITDA is defined in the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of the MD&A, including information on reconciliation to the most directly comparable IFRS measure.
(3) Prior period comparatives were adjusted to include the adjustments for markets under development, business transformation costs and non-recurring charges related to non-core bulk cannabis wholesale to be comparable to the current period presentation.

 

Adjusted Net Income

The following is the Company's adjusted net income (loss):

($ thousands) Three months ended
June 30, 2026 June 30, 2025
Net income (loss) from continuing operations (4,033) (10,186)
Inventory and biological assets fair value and impairment adjustments 1,356 11,418
Business development costs 1,589 361
Business transformation costs (1) 4,899 5,005
Adjusted net income (2) 3,811 6,598

(1) Business transformation related charges include costs related to restructuring costs, certain IT project costs, severance and retention costs in connection with the consumer channel exit, and legal provisions.
(2) Adjusted net income is defined in the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of the MD&A, including information on reconciliation to the most directly comparable IFRS measure.

 

Adjusted SG&A

Adjusted SG&A is a Non-GAAP Measure and can be reconciled with sales and marketing and general and administrative expenses, the most directly comparable GAAP financial measure, as follows:

  Three months ended
($ thousands) June 30, 2026 June 30, 2025
General and administration 24,602 26,872
Sales and marketing 15,591 14,455
Business transformation costs (2) (5,109) (5,232)
Adjusted SG&A (1) 35,084 36,095

(1) Adjusted SG&A is defined in the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of the MD&A, including information on reconciliation to the most directly comparable IFRS measure..
(2) Business transformation related charges include costs related to restructuring, certain IT project costs, sublease income, severance and retention costs in connection with the consumer channel exit, and legal provisions.

Free Cash Flow

The table below outlines free cash flow for the periods ended:

  Three months ended
($ thousands) June 30, 2026 June 30, 2025
Net cash provided by (used in) operating activities from continuing operations (4,446) 7,679
Less: maintenance capital expenditures(1) (1,347) (907)
Free cash flow(2) (5,793) 6,772

 

(1) Maintenance capital expenditures includes the costs to sustain facilities, machinery and equipment in working order to support operations and excludes discretionary investments for revenue growth.
(2) Free cash flow is defined in the "Cautionary Statement Regarding Certain Non-GAAP Performance Measures" section of the MD&A, including information on reconciliation to the most directly comparable IFRS measure.

 

Working Capital

Working capital is a Non-GAAP Measure and can be reconciled with total current assets and total current liabilities, the most directly comparable GAAP financial measure, as follows:

($ thousands) Three months ended
June 30, 2026 June 30, 2025
Total current assets 393,449 465,301
Total current liabilities (73,429) (156,885)
Working capital 320,020 308,416

 

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SOURCE Aurora Cannabis Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2026/05/c4821.html

%CIK: 0001683541

For further information: For Media: Michelle Lefler, VP, Communications & PR, media@auroramj.com; For Investors: ICR, Inc., Investor Relations, aurora@icrinc.com

CO: Aurora Cannabis Inc.

CNW 07:02e 05-AUG-26

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