Aurora Cannabis Inc. Steers Clear of Industry Headwinds with Strong Fiscal 2026 Performance
Aurora Cannabis Inc., a leading global cannabis company, has reported a strong fiscal year and fourth quarter 2026 performance, exceeding its outlook and demonstrating the company's ability to navigate evolving industry dynamics.
Net revenue for the fiscal year rose 11% to CAD 321 million, driven by double-digit growth in global medical cannabis. This exceeded the top end of the company's guided range by CAD 8 million, with approximately 55% of net revenue generated outside of Canada.
Aurora's adjusted gross margin also rose to 64%, reflecting the benefits of investments in the value chain, science and plant genetics, as well as operational efficiencies and capacity improvements. Adjusted EBITDA grew 32% year-over-year, reaching CAD 54 million, while the company ended the year with one of the strongest balance sheets in the industry, boasting CAD 165 million of cash and cash equivalents with no debt.
"Fiscal 2026 was a strong year for Aurora," stated Miguel Martin, Executive Chairman and CEO. "Our performance is driven by two strategic pillars: leadership in medical cannabis across nationally legal markets and disciplined financial management."
Aurora's integrated model of manufacturing and distribution drives lower production costs through higher yields, potency improvements, and ongoing operational efficiencies. The company's commitment to science and plant genetics has enabled it to become one of Canada's largest global medical cannabis companies, a leading exporter of medical cannabis, and a trusted supplier to international markets.
In the fiscal fourth quarter, Aurora took deliberate steps to sharpen its focus on the more profitable global medical cannabis space by initiating its exit from certain markets within the lower-margin Canadian consumer segment. The company expects this transition to be completed by the end of September, which will enable it to reprioritize resources and maximize opportunities in the global medical cannabis space.
Aurora's divestiture of its lower-margin plant propagation business by selling its controlling stake in Bevo is another testament to the company's commitment to maximizing shareholder value. This strategic move positions Aurora for continued success in a rapidly evolving industry.
