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Aurora Cannabis
Aurora Cannabis (ACB) investor relations material
Aurora Cannabis Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary4 Feb, 2026
Executive summary
Achieved 7% year-over-year net revenue growth in Q3 FY26 to $94.2 million, led by a 12% increase in global medical cannabis revenue to $76.2 million and 17% international growth.
Adjusted EBITDA reached $18.5 million, adjusted net income was $7.2 million, and free cash flow was $15.5 million, supported by a strong cash position of $154.4 million and no cannabis business debt.
Over half of net revenue was generated outside Canada, reflecting global market leadership in medical cannabis, with top positions in Canada, Germany, Poland, the UK, and Australia.
Strategic focus is shifting to high-margin global medical cannabis, with exits from lower-margin consumer markets and restructuring of the plant propagation business.
Continued investment in science, genetics, and manufacturing to drive capacity, lower costs, and margin expansion.
Financial highlights
Q3 FY26 net revenue: $94.2 million, up 7% year-over-year; medical cannabis net revenue: $76.2 million, up 12%; international medical cannabis net revenue: $48 million, up 17%.
Consumer cannabis net revenue: $5.2 million, down 48% year-over-year; plant propagation net revenue: $11.3 million, up 27%.
Adjusted gross margin: 62% consolidated, with medical cannabis at 69% and consumer cannabis at 28%.
Adjusted EBITDA: $18.5 million, up 6% year-over-year; free cash flow: $15.5 million.
Cash and short-term investments: $154.4 million; no cannabis business debt, only non-recourse debt related to Bevo Farms.
Outlook and guidance
FY2026 global medical cannabis net revenue expected between $269 million and $281 million, driven by 10%-15% segment growth.
Annual consolidated adjusted EBITDA projected at $52–57 million, representing 5%-10% growth.
Adjusted gross margins expected to remain strong due to favorable sales mix and operational efficiencies.
Plant propagation revenue expected to follow seasonal trends, with most revenue in the first half of the year.
Continued focus on global medical cannabis leadership and expansion in emerging markets.
Strategic rationale for global medical focus
Australia premiumization: timeline & impact?
Factors for Q4 medical cannabis revenue deceleration?
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Next Aurora Cannabis earnings date
Q4 202617 Jun, 2026
Aurora Cannabis
Next Aurora Cannabis earnings date
Q4 202617 Jun, 2026
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Frequently asked questions
Aurora Cannabis, Inc. is focused on producing medical cannabis pursuant to the Canadian Access to Cannabis for Medical Purposes Regulations and operating a network of ACMPR licensed producers through its wholly owned subsidiaries. Aurora is the largest producer of medical cannabis in Canada, the second-largest in the world and is expanding globally with multiple production facilities in Canada under construction or planned. Aurora Cannabis Inc. is headquartered in Edmonton, Canada.
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