Aurora Cannabis Inc. Q1 2027 Earnings Recap

Shares rose 6% on stronger-than-expected international medical cannabis revenue growth and solid margin expansion, driven by leadership in Germany and the accretive acquisition of EU GMP-certified manufacturing capacity.

Key Takeaways

• International medical cannabis net revenue increased 17% to $43 million, representing 64% of total net revenue, up from 50% a year ago.
• Adjusted gross margin reached 58%, at the high end of the expected annual range, supported by strong contributions from international markets.
• Acquisition of Safari Flower Company, with its EU GMP-certified 59,000 square foot facility, added critical manufacturing capacity and was accretive to adjusted EBITDA.
• Germany remains the largest and fastest-growing market, with Aurora maintaining premium and core segment leadership despite pricing pressure and increased competition.
• The company ended the quarter with nearly $150 million in cash, no debt, and ongoing investments to expand EU GMP production capacity and improve yields through plant science.