Aurora Cannabis Inc. Q4 2026 Earnings Recap

Shares dropped 7.6% on concerns over intensifying pricing pressure in international markets and the planned exit from lower-margin Canadian consumer segments, signaling investor skepticism about near-term margin sustainability and strategic trade-offs.

Key Takeaways

• Net revenue rose 11% to CAD 321 million, driven by double-digit growth in global medical cannabis and exceeding guidance by CAD 8 million.
• Adjusted gross margin improved to 64%, reflecting operational efficiencies and scientific investments, although industry-wide competitive pressures are increasing.
• Adjusted EBITDA grew 32% year-over-year, reaching CAD 54 million, supported by disciplined cost management.
• The company initiated a strategic exit from lower-margin Canadian consumer markets, generating one-time cash impacts, while focusing on higher-margin global medical cannabis.
• Acquisition of Safari Flower Company expands EU GMP capacity by 40%, expected to contribute positively to adjusted EBITDA from FY 2027 onward.