ACB

Image source: The Motley Fool. Wednesday, Aug. 5, 2026 at 8:00 a.m. ET Executive Chairman and Chief Executive Officer - Miguel Martin Chief Financial Officer - Simona King Director of Strategic Finance and Investor Relations - Kevin Niland Operator: [Operator Instructions] This conference call is being recorded today, Wednesday, August 5, 2026. I would now like to turn the conference over to your host, Kevin Niland, Director of Strategic Finance and Investor Relations. Please go ahead, sir. Kevin Niland: Hello, and thank you for joining us. With me are Miguel Martin, Executive Chairman and CEO, and Simona King, CFO. Earlier this morning, we filed our fiscal first quarter 2027 financials for the period ending June 30, 2026, and issued a news release containing our quarterly results. Financial statements, MD&A, and news releases are available on our IR website and can also be accessed via SEDAR+ and EDGAR. In addition, you will find a supplemental information deck on our IR website. Please note that we present our financials in accordance with IFRS and in Canadian dollars. Throughout our discussions, we will be referring to both GAAP and non-GAAP adjusted results and encourage you to review the reconciliation contained within the press release from GAAP to the corresponding non-GAAP measures. Our discussion today serves as a reminder that certain matters could constitute forward-looking statements that are subject to risks and uncertainties relating to our future financial or business performance. Actual results could differ materially from those anticipated in those forward-looking statements. Risk factors that may affect actual results are detailed in our annual information form and other periodic filings and registration statements. Documents may similarly be accessed via SEDAR+ and EDGAR. Following our prepared remarks, we'll conduct a question-and-answer session with our covering analysts. With that, I'll turn the call over to Miguel. Please go ahead. Miguel Martin: Thanks, Kevin. Aurora has become synonymous with medical cannabis in nationally legal markets because we spent years building the infrastructure, scientific capability, and regulatory expertise required to deliver reliable, scalable, and consistently high-quality products to patients. A dedicated focus on medical cannabis enables us to maximize opportunities in the industry's most attractive, durable, and profitable segment, and should help us maintain and expand our leadership over time. We are already a leading exporter and hold top-tier market share positions in Canada, Germany, Poland, and Australia. We are also well positioned to export to other countries as the regulatory environment continues to open. We prioritize expanding our manufacturing capacity to support growth in the estimated $9 billion global medical cannabis market. There are only a handful of companies like Aurora that have the capabilities and certified pharmaceutical-grade facilities required to reliably produce and sell directly into European and Australian medical channels. Our integrated approach to manufacturing and distribution reflects disciplined operational and financial management that drives lower production costs through strong yields, higher potency, and continued operational efficiency. Our cost base is structured to support top-line growth, and our continued investment in international expansion helps offset the near-term headwind in revenue and gross profit contributions to our business, stemming from the reduced VAC reimbursement rate in Canadian medical. We continue to prioritize and maintain a strong balance sheet with ample cash and no debt. This gives us greater flexibility to navigate regulatory and competitive developments across Canada, Europe, and other key international markets, and lets us deploy capital thoughtfully to stay ahead of our competition. Here are some of the key highlights from this quarter. First, international medical cannabis net revenue rose 17% to $43 million, driven by strong performance in Germany. Notably, about 64% of our total net revenue was generated outside of Canada, up from 50% last year. Second, our acquisition of Safari Flower Company and the recently announced certification of its EU GMP facility adds critical manufacturing capacity to serve the growing, profitable international medical cannabis markets. Third, adjusted gross margin was 58% at the high end of our expected annual range as we benefited from strong contributions from international markets. And finally, we ended the quarter with nearly $150 million in cash, cash equivalents, and short-term investments with no debt. Our operational network is clearly a core differentiator for Aurora, further supported by the recently completed acquisition of Safari Flower Company and the investments we have made in genetics and plant science. As international medical cannabis markets continue to evolve, EU GMP certification remains a critical enabler for global strategy and supports long-term profitable growth. Our investment in plant science and genetics has helped deliver meaningful reductions in the cost per gram to manufacture. Genetic differences alone can drive a yield improvement of up to 40% on the same cost base, a critical advantage in a capital-intensive business. Consistency is equally important, particularly in highly regulated medical markets, where product variability can disqualify items from market access altogether. Safari is an established EU GMP certified cultivator and manufacturer operating a 59,000 square foot purpose-built indoor facility in Ontario that strengthens our position as one of the largest Canadian exporters of medical cannabis. The acquisition gives us incremental EU GMP capacity that aligns with our existing global manufacturing network, strengthening our ability to meet the growing international demand for high-quality EU GMP products. This transaction was accretive to our adjusted EBITDA results during the first quarter, and we intend to apply our plant science and operational expertise to drive incremental benefits through increased yields, lower manufacturing costs, and additional supply of EU GMP flower to maximize the high-margin opportunities in Europe and other key international markets. Now let's discuss our key medical cannabis markets individually. Germany is our largest and fastest-growing international market. It's also one of the most rigorous markets with strict GMP standards required for access. We view these attributes as a competitive advantage rather than a barrier and one that has helped us build a stellar reputation with wholesalers, distributors, and pharmacists. The market is structured around flower and oil, and unlike in other countries, Germany maintains meaningful separation between premium, core, and value-tier pricing. We operate primarily in the premium and core segments, which represent the majority of our volume, with all 3 segments continuing to grow. As new competitors enter Germany and pricing pressure increases, we've maintained our leading market share by adjusting pricing where appropriate and broadening our product line to include more value options. We also expect GMP standards to become increasingly stringent, a trend we believe favors experienced and established operators like Aurora. Our EU GMP certified facilities and integrated supply chain allow us to ship directly to Germany and continue supporting growing patient demand in the years ahead. Our leadership showed through this quarter with 2 of our proprietary cultivars continuing to rank in the top 5 by sales. Clear evidence of our brand equity that we've developed since first entering Germany in 2018. We're one of only 3 active in-country producers of medical cannabis holding a production and R&D license under German cannabis law, giving us a strong foundation to directly serve the growing medical markets across Europe. To capture incremental share in this growing market and augment our EU GMP production, we are in the final phase of our expansion plans for our Leuna facility. These investments should increase product quality through the same industry-leading genetics and operational playbook that has helped deliver incremental margin gains. The project is nearing completion and combined with the rollout of our proprietary cultivars is expected to double the site's annual flower output. The German market has built a very mature and integrated medical cannabis framework. They have a well-developed physician and pharmacy-led network that supports patient access, which is further supported by proper manufacturing and distribution capacity, GMP-level standards, and strong regulatory oversight. All those points to a system that's solid, well thought out, and highly integrated. We continue to monitor the regulatory and legislative environment in Germany, and while there's been lots of discussion regarding potential changes, we believe that we have the skills and capabilities to navigate any potential revision successfully and come out stronger on the other side. Similar to how we successfully navigated the changes in Poland last year. Speaking of Poland, we hold the #1 market share position, supported by strong commercial execution. We are encouraged by recent increases in annual import limits and the strong, loyal patient base, which strengthens our growth outlook for this key, highly regulated market. Success in Germany and Poland positions us well for other emerging regulated markets, such as France, Ukraine, Switzerland, Spain, and Austria, as our capabilities are portable. We will continue to focus on cultivation and wholesale, where we believe the greatest margin opportunity exists, rather than downstream channels like retail or telehealth. These sit outside our core competencies of weaving ever-increasing regulatory standards into our operations. Our well-established leadership in Australia is allowing us to shift our sales mix towards core and premium products, reflecting growing demand from both prescribing physicians and patients for higher-tier options. Australia also offers one of the broadest product format ranges outside of North America, giving us the opportunity to fully leverage our diverse product portfolio beyond flower and oils. We are also encouraged by the growth we are seeing in New Zealand, another highly regulated market where patients are responding favorably to our growing product assortment. Finally, let's turn to Canada. The first quarter marked the onset of revisions to the federal reimbursement program, which took effect April 1. As expected, this external regulatory shift impacted both our top line and adjusted gross profit. However, we are encouraged by our continued strong margins in our global medical cannabis business that supported the consolidated adjusted gross margins of 58%, which are at the higher end of our targeted range. These leading margins along with our historical ability to grow share in this business should therefore remain intact. Against this backdrop, we expect to expand share as new patients continue to enter the market. The revenue and adjusted EBITDA impact reflected in our first quarter performance and reaffirmed annual guidance is primarily a function of industry-wide changes and not a reflection of underlying demand or our competitive position in the long term. In our view, we have the capability, high-quality products, financial resources, and resilience to successfully navigate this headwind and deliver profitable growth while continuing to invest in growing international opportunities. Finally, let me address the changing U.S. regulatory landscape. We're watching developments in the U.S. closely, particularly as recent uplisting activity and potential rescheduling create new possibilities. We see 3 areas of opportunity for us. Expanded research collaboration following federal rescheduling, potential partnerships leveraging our GMP and medical-grade manufacturing standards, and longer-term import-export possibilities between the U.S. and the international medical markets we already serve. That said, we are encouraged by this renewed momentum and look forward to further regulatory clarity from the U.S. administration in the coming months. Let me now turn the call over to Simona. Simona King: Thank you, Miguel. Our quarterly performance reflects the strategic decisions we have made to reallocate our resources to focus on global medical cannabis opportunities. While some of the year-over-year comparatives may appear less favorable, the results themselves are in line with our expectations, and 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. Let's now review our fiscal first quarter 2027 compared to the prior year, and I will then reaffirm our fiscal year 2027 outlook. Net revenue was $67.6 million, which is inclusive of a 17% increase in international medical cannabis. Growth was offset by the expected changes in Canadian medical net revenue and the planned exit from our lower-margin Canadian consumer cannabis business. Consolidated adjusted gross margin held strong at 58%, coming in at the high end of our annual guidance range. The change versus the prior year was primarily due to the expected changes in Canadian medical pricing, offset by strong international performance. Consolidated adjusted SG&A was reduced from $36.1 million in the prior year to $35.1 million this quarter. This $1 million reduction was driven primarily by lower general and admin spending, offset by slightly higher selling costs. Adjusted EBITDA was $3.4 million compared to $10.8 million in the prior year, while adjusted net income was $3.8 million compared to $6.6 million last year. The year-over-year changes primarily reflect lower adjusted gross profit before fair value adjustments, partially offset by improved SG&A performance and an increase in other income. Our balance sheet remains one of the strongest in the global cannabis industry. We held close to $150 million in cash, cash equivalents, and short-term investments with no debt. We have ample liquidity and can be opportunistic with respect to investing in ourselves as needed, while also pursuing additional acquisitions. Free cash flow was an outflow of $5.8 million compared to an inflow of $6.8 million from the prior year. This was mainly due to a reduction in gross profit before fair value adjustments of $9.7 million. Let me now reaffirm our outlook for fiscal 2027 ending March 31, 2027. It reflects the important steps that we've taken to strengthen the business and drive growth in the attractive global medical cannabis market. Recall that we viewed this as a transitionary year, and we remain optimistic in our long-term trajectory. Fiscal 2027 is being shaped by changes in Canadian medical that can be partially offset by international growth, as we demonstrated in Q1. We are purposely investing in our international business 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 supply international markets such as Germany, Poland, and the U.K. For the fiscal second quarter, we expect revenue and adjusted EBITDA to be substantially higher than in the fiscal first quarter. Thank you for your time. I'll now turn the call back to Miguel. Miguel Martin: Thanks, Simona. We've established one of the most attractive medical cannabis growth businesses in the world, supported by a sizable footprint across all major countries and regions. To accelerate our global momentum, we are deploying targeted investments to rapidly expand GMP capacity, push a steady cadence of new product launches, seize additional market share, and reinforce our leadership position. These actions are engineered to deliver a sustained double-digit revenue growth, maintain superior margins, and drive higher EBITDA contributions over the coming years. Thank you all for your time today and for your continued confidence in Aurora. Operator: [Operator Instructions] Our first question comes from Bill Kirk with ROTH Capital Partners. Please proceed with your question. William Kirk: I was hoping Miguel and Simona if you could give us some more details or specifics on the expectation for sequential revenue growth and the EBITDA improvement that you expect off Q1. And in particular, are there any markets where you're confident that, that growth is going to be driven from or any cost savings opportunities that you have on the horizon that gives you that sequential improvement confidence? Miguel Martin: Great, and good morning, Bill. Let me start and I'll let Simona pick up the backside of it. I think overall it's going to be similar to what you've seen. So the same markets where we see opportunities and we see growth will continue to be there. Obviously, there's a bit of a reset as it pertains to VAC, but we expect to grow share off of that. As you move offshore we see opportunities in Poland and Germany and Australia and New Zealand. Clearly, Germany being the biggest is the most sort of obvious place for it. And as we said in our prepared remarks, we continue to find significant opportunities there because of the scarcity of high-quality GMP flower, which is something that really we excel at. And so I think it's more of the same, so there won't be any real big surprises. And on the cost side, we continue to look for efficiencies. The biggest do come from our genetic work and the production efficiencies we get out of our facilities. So as we said and we've said in the past, some of those genetics can yield up to a 40% increase and also have improvements in quality and potency and terps scores and things like that allow you to garner some higher economics. But, Simona, anything you want to add to that? Simona King: I think you covered it, Miguel, and maybe to reiterate that we're very encouraged by the strong growth that we're seeing in Germany. And we're happy to, especially in Q1, deliver on the high end of our guidance range with our adjusted gross margins being at 58%. So, again, reflecting on what Miguel said that we see continued efficiencies in our manufacturing network. William Kirk: As a follow-up, on that manufacturing network, you talked a lot about the importance of EU GMP and your medical standards and quality. What do you think about the U.S. growers who are confident they can export into international markets? And would you think of them as potential extra competition in those markets, or would they be potential partners that you could help access your international supply chain? Miguel Martin: Listen, I think it's a little early. Obviously the regulatory construct that the MSOs and the SSOs operate in is totally different than what we see, say, in Germany or Poland or New Zealand. And that's not to take anything away from them, because I think there's some very strong operators there. What I do know is that we've been in Germany since 2018, and it's difficult. And it's not just the regs that exist today. As we've said, those standards continue to tighten. And so I think whether you come from the U.S. or you come from Canada, it's a challenge in order to get product consistently in there. The other thing for us, which is a big advantage, is we grow almost everything that we sell. So we control that network all the way through as opposed to, say, third-party purchases or other aspects on it. And in terms of partnership, as we said in our comments, we absolutely believe that there will be opportunities to partner. Our almost decade-plus of large-scale GMP manufacturing in a pharmaceutical setup for these countries lines up very well for what we're starting to see from the rescheduling regulations coming out of the U.S. So we're hopeful, just like we partner with folks in Canada and internationally that, that would also extend to the U.S. Operator: Our next question comes from Frederico Gomes with ATB Capital Markets. Please proceed with your question. Frederico Yokota Gomes: I guess I want to talk about Germany because Miguel, you mentioned that, I guess, you're seeing, or you expect to see continued pricing pressure there. Can you talk about the magnitude of that price pressure that you're seeing, and are prices coming down steadily every quarter, and that being lumpy and varied according to the availability of supply? And then the second point on Germany is just potential revisions there in terms of the regulatory framework. If you could just talk about how you think the regulatory environment in Germany is going to evolve and how Aurora is positioned to potentially benefit from that. Miguel Martin: Of course, and good morning, Fred. I think, so first let me talk about pricing in Germany. So, as we mentioned in our prepared remarks, there really are 3 distinct sort of quality tiers in Germany that are very articulated, and we like that in a market. So you've got premium, core, and value. All of them are required to be GMP, so they hold a higher standard than maybe a non-GMP market. We see most of the pricing pressure in the value segment, as to be expected. And actually, when you look at core and premium, because of the increasingly challenge that comes with these GMP standards getting more stringent, we see that pricing's been held up quite well there. So I think while you always are sort of seeing something in the value segment, on the higher ends you don't, and we also see, since it's such a large self-payer market, that you don't see some of the pressure on the reimbursement side as maybe the reimbursement rates would change like you see in Canada in the VAC system. So I think we're pretty confident in that piece of it. And overall, when you think about some of the noise that we've heard from potential legislation, we'll know a lot more in the coming months. But usually when these things happen, it benefits those companies that have the sort of wherewithal and the persistence to stick through it. Obviously, the most obvious example is Poland when they made some changes in the telehealth platform there, which you're well aware of. We saw a short-term dip. And then for those companies like Aurora that were able to pivot and handle the regulatory changes, there was actually growth opportunities. And so if there were changes to the telehealth provisions in Germany, which seem a little less likely on some of the more severe ones, but we'll see, I think companies like Aurora actually stand to gain because it makes it that much more difficult for those that haven't dealt with it or are not prepared to manage it. Operator: Our next question comes from Ryan Neal with TD Cowen. Please proceed with your question. Ryan Neal: Just to start in the domestic market, can you isolate the impact of the lower reimbursement rates on revenue, gross profit, and EBITDA, and have you seen any further changes in patient behavior or pricing since the initial adjustment? Miguel Martin: Let me take the second part of it. I'll let Simona pick up the first part. We've seen very little changes. I mean, because for the VAC patient, there is very little difference for them. Most of, if not the entirety of the pricing change has been handled by the LPs that service those critical patients. So from a format choice and selection and cadence and everything, it's pretty much unchanged. But Simona, maybe you want to take the first part? Simona King: Yes, so we have seen an impact in Canadian medical on our revenues versus the prior quarters. That's a result of the reimbursement impact coming into effect on April 1, a 30% reduction in reimbursement rates. And so that is as expected as we discussed last quarter, where we're anticipating these changes. And this is how Q1 has come in. It's coming in line with our expectations. Ryan Neal: Great. And then just as a follow-up, how is the integration of Safari progressing and do you see any expected accretion and synergies in fiscal '27? And are there any updates on sort of the operational or genetic improvements there? Miguel Martin: Yes, I mean we saw contributions this quarter. We don't break out each of the facilities, and we're very pleased with the integration. I think the fact they just received their GMP certification, which is valid for 3 years was very exciting for us, and we're thrilled. So more to follow in the coming quarters in terms of what it means, but early days on Safari are very encouraging. Operator: [Operator Instructions] Our next question comes from Pablo Zuanic with Zuanic & Associates. Please proceed with your question. Pablo Zuanic: Miguel, in my opinion, the industry did a very good job over the last 4 or 5 years in Canadian medical. The penetration with veterans, according to the numbers that I see, went from around 4% to 8% over a 4-year period. How much higher can that go? What would you think is the natural cap on that percentage? Is there room to take that up much further? Miguel Martin: Pablo, I think it's a difficult one because it's really that behavior is really an interaction between that patient, the doctor, and then coming to the LP. I think clearly we've seen through our interactions with the veterans and everything that we owe them that they're seeing a strong benefit from that cannabis component as they leave the service. We're also seeing new patients join that system on a very regular basis, and those patients are all across different age spectrums and gender and different sort of indications. And so, hard to say what is the cap, as you talked about, 4% to 8%. I think the system, though, is healthy and we see an opportunity for us to grow share in that because of the great service that we do offer them. The other part about that which is very interesting is the portability of those insights because that veteran interest in medical cannabis is not solely a Canadian condition. We see interest across the board whether it's in the U.S. or in New Zealand and Australia. And those veteran communities are very well connected because in many cases they serve with each other in those different markets. So we're excited beyond just what we're seeing in Canada from those learnings and those insights. But again, the portability of that, because it's a very specific sort of activity and service level required to take care of that critical patient. So I think there's benefits across the board, even those outside of Canada. Pablo Zuanic: Just a quick follow-up. Obviously you've been, you are the first or you've been among the first in entering a lot of these overseas markets. But in the case of the U.K., and correct me if I'm wrong, I think you've been slower than other people, right? And that market has very quickly vertically integrated downstream LPs controlling online pharmacies, clinics, etc. Can you talk more about am I right? You've been slow in the U.K., and can you still catch up there? Miguel Martin: Yes, with all due respect, I wouldn't describe it as slow. I don't think we've been slow at all. Our real sort of focus is on the genetics, the development, and the manufacturing of these medications. And in the U.K., you're right, there's been a lot of movement on the clinic side and on the pharmacy side. Those are not areas of focus for us. But as the regs have started to change in the U.K. through interactions we have with the MHRA, we feel very confident about our position there. What we do know is that the U.K. is, once again, a place where high-quality premium medical products are valued, particularly in the self-payer market. And Aurora having some of the largest supply of those GMP products for that market, I think, will be just fine. So I think as things sort of ebb and flow, you can't look at things in the short term. I think you have to look at things in the long term. And I think we've proven across almost 12-plus countries that very stringent standards benefit us, and we're seeing that in the U.K., and we think that will play out over the coming quarters. Operator: Our next question comes from Ryan Neal with TD Cowen. Please proceed with your question. Ryan Neal: Curious if you have any color on recent progress in Australia as you transition to more of the core and premium offerings there and how that's evolved in recent months. Miguel Martin: Ryan, it's a great question. I think that what we're seeing in Australia is a very interesting dynamic because it allows more than flower and oils, and we're seeing a lot of quality. Having been there for almost a decade and, right, predominantly focused in what they call the concession market, which is a bit of the value market, we're starting to see strong progress in the core and premium, and it's a country where cannabis is moving pretty quickly, and so we're excited about that as well. Right next to it is New Zealand, and I know that wasn't your question, but there's a lot of efficiencies and synergies in having success in Australia, and New Zealand's a bit more difficult from a regulatory standpoint, which lines up well for us. So I think when you combine the 2, we're very encouraged about what the opportunities there are. And it's also a wonderful jumping-off spot for that part of the world as medical cannabis gains more sort of mainstream acceptance. So we're bullish on both the opportunities that present themselves in that market, what it means for us in markets next door. Operator: We've reached the end of our question-and-answer session. I would now like to turn the floor back over to Mr. Martin for closing comments. Miguel Martin: Operator, thank you very much, and our appreciation to everyone's coverage of Aurora. We're incredibly excited about the future, and we look forward to sharing that with you in the coming quarters. All the best. Thank you. Operator: This concludes today's teleconference. You may disconnect your lines at this time. Thank you for your participation. Before you buy stock in Aurora Cannabis, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Aurora Cannabis wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Aurora Cannabis (ACB) Q1 2027 Earnings Call Transcript was originally published by The Motley Fool

EDMONTON, AB, Aug. 10, 2026 /CNW/ -- Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) ("Aurora" or the "Company"), the Canadian-based leading global medical cannabis company, is pleased to announce the voting results from its Annual General Meeting of Shareholders (the "Meeting") held Friday August 7, 2026 by virtual webcast. The total number of shares represented by shareholders present in person (virtually) and by proxy at the Meeting was 16,639,306 common shares, representing 26.86% of Aurora's issued and outstanding common shares as of the record date. The details of the voting results for the directors are set out below: At the Meeting, shareholders also approved the appointment of Ernst & Young LLP as auditors of the Company for the ensuing year, and approved the Company's advisory vote on executive compensation, otherwise known as "Say-on-Pay", which passed with 82.97% of votes FOR. "We're pleased by the support received from our shareholders at this year's meeting," said Miguel Martin, Executive Chairman and CEO at Aurora. "These results demonstrate confidence in our Board of Directors and allow us to remain focused on executing our medical-first strategy, strengthening our global medical cannabis business, and delivering long-term value for shareholders." A report of voting results on all resolutions voted on at the Meeting will be filed under the Company's profile on SEDAR + (www.sedarplus.ca). About Aurora 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™. Learn more at www.auroramj.com and follow us on X and LinkedIn. Aurora's common shares trade on the NASDAQ and TSX under the symbol "ACB". Forward Looking Information 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 execution of the Company's medical-first strategy, strengthening of its global business, and the Company's ability to deliver long-term value for shareholders. 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 crises, and other risks as set out under "Risk Factors" contained in the Annual Information Form dated June 10, 2026 (the "2026 AIF"). Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements. The Company cautions that the list of risks, uncertainties and other factors described in the 2026 AIF is not exhaustive and other factors could also adversely affect its results. Although the Company believes that the expectations conveyed by the forward-looking statements are reasonable based on the information available to the Company on the date hereof, no assurance can be given as to future results, approvals or achievements. View original content to download multimedia:https://www.prnewswire.com/news-releases/aurora-a-global-leader-in-medical-cannabis-announces-results-of-2026-annual-general-meeting-302846555.html View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2026/10/c5119.html

Download the Complete Report Here Key Takeaways: International medical cannabis growth continued to strengthen ACB’s global medical-first platform and reinforce the durability of its growth strategy. ACB reported 1Q FY27 (q/e June 30, 2026) net revenue of C$67.6 million, down 9% from C$74.1 million in the prior-year period and down 20% sequentially from C$84.8 million in 4Q FY26. The decline was principally attributable to the April 1 reduction in Canadian federal medical reimbursement rates and the planned wind-down of the consumer cannabis business rather than weakening international demand. Medical cannabis revenue was broadly stable at C$64.0 million versus C$64.8 million y/y, as a C$6.2 million increase in International medical revenue offset C$7.0 million of Canadian medical pressure. Medical cannabis represented approximately 95% of consolidated net revenue, up from 87% in the prior-year quarter and 91% in 4Q FY26, demonstrating that the Bevo divestiture and consumer wind-down have substantially advanced ACB’s transition into a focused global medical cannabis company. Strong operating discipline kept adjusted EBITDA positive despite the full initial impact of the Canadian reimbursement reset. Adjusted EBITDA was C$3.4 million, down 68% from C$10.8 million y/y and 63% from C$9.2 million in 4Q FY26, with the adjusted EBITDA margin declining to 5.1% from 14.6% a year ago and 10.8% sequentially. The C$7.4 million y/y decline primarily reflected an C$8.3 million reduction in adjusted gross profit, partly offset by C$1.0 million of adjusted SG&A savings. Adjusted SG&A declined 3% to C$35.1 million from C$36.1 million, as lower general and administrative spending more than offset an 8% increase in sales and marketing to C$15.6 million. The higher selling investment was directed toward international growth markets, while the broader cost base remained controlled through the transition. Liquidity remains a meaningful competitive advantage, with C$149.1 million of cash, restricted cash, and short-term investments and no loans or borrowings. Cash and cash equivalents were C$69.3 million, restricted cash was C$49.1 million, and short-term investments were C$30.7 million at June 30. Approximately C$46.4 million of restricted cash is expected to become unrestricted following the wind-up of the company’s segregated self-insurance cell by 3Q FY27, materially increasing immediately deployable liquidity without requiring external financing. On a pro forma basis, unrestricted cash and short-term investments would rise from approximately C$100.0 million to C$146.4 million, subject to movements before completion. This liquidity gives ACB the ability to complete Safari and Leuna investments, absorb the Canadian reset, and pursue additional medical-cannabis acquisitions without adding financial debt. Safari contributed positively to adjusted EBITDA in its first quarter and is transitioning from strategic capacity to an operating contributor. ACB completed the acquisition in April for C$15.0 million of cash and 2.4 million shares valued at C$11.6 million, with C$2.0 million of the cash consideration tied to EU-GMP certification conditions and a provisional C$0.7 million working-capital adjustment receivable. Safari’s 59,000-square-foot Ontario facility received a three-year EU-GMP certification on July 23, advancing integration by enabling supply to Germany, Poland, Australia, and the U.K. while expanding ACB’s internal capacity and reducing reliance on third-party production. Safari contributed positively to adjusted EBITDA in its first quarter of ownership, while the planned C$3.5 million investment over three years is intended to improve operating efficiency, increase cultivation output, and lower manufacturing costs. Best-in-class global medical operations continue to diversify ACB’s growth profile beyond Canada. Leadership positions in Germany, Poland, Australia, and New Zealand, together with a focused U.K. strategy and longer-term U.S. optionality, reinforce the scalability of ACB’s international medical platform and reduce reliance on any single market. Street estimates continue to frame FY27 as a transition year before growth reaccelerates in FY28. Based on Street estimates sourced from TIKR, revenue is projected to decline from C$320.6 million in FY26 to C$293.3 million in FY27E, reflecting the impact of lower Canadian medical reimbursement rates and the company’s exit from lower-margin businesses. Adjusted EBITDA is expected to decline to C$24.5 million from C$53.8 million in FY26, with margins compressing to 8.3% as the reimbursement changes flow through results. The first quarter contributed C$67.6 million of revenue and C$3.4 million of adjusted EBITDA, representing 23% and 14% of the respective full-year estimates. Disclaimer: Exec Edge does not publish proprietary estimates, ratings, price targets, or investment recommendations. The valuation discussion below is illustrative only and is based on company filings, management commentary, and third-party data and estimates. It does not constitute a recommendation, price target, rating, or prediction of future pricing. We believe ACB’s current valuation underappreciates the quality and long-term earnings potential of its international medical cannabis platform despite the near-term Canadian reimbursement reset. Overall, current valuation levels appear to inadequately reflect ACB’s competitive positioning and the improving quality of its international earnings base. Key differentiators include: 1) leadership positions in Germany, Poland, and Australia, with international markets contributing 64% of 1Q revenue; 2) a GMP-led operating model supported by proprietary genetics, integrated production, and regulatory expertise; 3) no loans or borrowings and approximately C$149 million of liquidity; and 4) expanding internal EU-GMP capacity through Leuna and Safari. While FY27 remains a transition year, continued international growth, manufacturing efficiencies, and a more favorable revenue mix should support margin recovery and create scope for valuation multiples to move toward historical and peer levels over time. Read Exec Edge’s Initiation on ACB Here Subscribe to our Weekly Newsletter to Receive All Research Contact: Executives-Edge.com [email protected] The post Why Aurora Cannabis Looks Cheaper Than Its International Growth Suggests – Quarterly Update Report appeared first on ExecEdge.

Interested in Aurora Cannabis Inc.? Here are five stocks we like better. Shareholders approved all proposals, including a five-member board, the election of Aurora’s director nominees, Ernst & Young as auditor, and the advisory executive-compensation vote. Aurora exceeded its fiscal 2026 outlook, reporting C$321 million in revenue, up 11% year over year, adjusted EBITDA of C$54 million, a 64% adjusted gross margin, and C$165 million in cash with no debt. For fiscal 2027, Aurora plans to focus on international medical cannabis growth—particularly in Germany and Poland—while exiting its lower-margin Canadian consumer business and expanding EU GMP capacity through its Safari Flower acquisition. Profit from the Green Wave: Top Cannabis Stocks to Watch Aurora Cannabis (NASDAQ:ACB) said shareholders approved all items presented at its annual general meeting, including setting the board size at five directors, electing the company’s nominees, reappointing Ernst & Young LLP as auditor, and approving its non-binding advisory vote on executive compensation. The virtual-only meeting covered Aurora’s financial year ended March 31, 2026. Michael Singer, Aurora’s lead independent director and chairman of the meeting, said the company had received sufficient votes in favor of each proposal. Full voting results were expected to be filed on SEDAR following the meeting. → Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth The Cannabis Sector: Profitability Takes Center Stage According to the preliminary attendance report, 146 shareholders voted by proxy, representing 16.64 million shares, while total shares represented at the meeting were reported at 61.96 million, or 26.86% of outstanding shares. Singer said the attendance satisfied the company’s quorum requirement. Shareholders approved management’s proposal to fix the number of directors at five for the coming year. The elected director nominees were Executive Chairman and Chief Executive Officer Miguel Martin, Singer, Chitwant Kohli, Norma Beauchamp, and Rajesh Uttamchandani. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High Aurora Cannabis Earnings Reveal a Turning Tide for the Stock The company also reappointed Ernst & Young LLP, with offices in Vancouver, as its auditor for the ensuing year. In addition, shareholders approved Aurora’s “say-on-pay” resolution regarding executive compensation, which is an advisory and non-binding vote. Prior to the votes, Singer tabled Aurora’s financial statements, auditor’s report and management discussion and analysis for the year ended March 31, 2026. He noted the filings were available through SEDAR. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling In remarks following the formal business, Martin described fiscal 2026 as a strong year for the cannabis company, citing revenue above its outlook and adjusted EBITDA above the midpoint of its guided range. Aurora reported net revenue of C$321 million for fiscal 2026, an 11% increase from the prior year. Martin said the result exceeded the high end of the company’s guidance range by C$8 million and was driven by double-digit growth in global medical cannabis. About 55% of net revenue was generated outside Canada, he said. Adjusted gross margin rose to 64%. Adjusted EBITDA increased 32% year over year to C$54 million. Adjusted net income improved by more than C$12 million. Aurora ended the fiscal year with C$165 million in cash and cash equivalents and no debt. Martin attributed the performance to Aurora’s focus on medical cannabis markets and financial discipline. He said the company holds leadership positions in Canada, Germany, Australia and Poland, which he characterized as the four largest nationally legal medical cannabis markets. The CEO said Aurora’s GMP-certified production and supply capabilities allow it to serve international medical markets, including Europe and Australia. He also cited higher yields, improved potency and operational efficiencies as contributors to lower production costs. Looking ahead, Martin said fiscal 2027 will be affected by changes in Canadian medical cannabis and Aurora’s planned exit from the lower-margin Canadian consumer business. He said international growth is expected to partially offset these developments. Aurora plans to make targeted investments in market-share gains, GMP capacity, margin-accretive opportunities and international expansion. Martin highlighted the company’s acquisition of Safari Flower Company, an EU GMP-certified cannabis cultivator and manufacturer, as part of that strategy. According to Martin, Safari Flower added EU GMP capacity, strengthened Aurora’s export position and was accretive to adjusted EBITDA in the first quarter of fiscal 2027. For the fiscal first quarter, Aurora reported net revenue of C$67.6 million. International medical cannabis net revenue rose 17% to C$43 million, while consolidated adjusted gross margin was 58%, at the high end of the company’s annual guidance range, Martin said. Martin said Aurora expects second-quarter revenue and adjusted EBITDA to be sequentially higher than the first quarter. The company remains focused on sustained double-digit revenue growth, strong margins and increased EBITDA contributions over time, he said. International growth is expected to be led by Germany, Aurora’s largest and fastest-growing international market, according to Martin. He said the company continues to hold a leading market share in Germany and is benefiting from demand for premium and core medical cannabis products. Martin also pointed to Poland, where Aurora holds the No. 1 market-share position, citing recent import-limit increases, patient demand and commercial execution. Australia and New Zealand remain markets where the company sees opportunities to broaden product formats and expand its mix of core and premium products. Beyond those markets, Martin cited the U.K., France, Ukraine, Switzerland, Spain and Austria as emerging regulated markets where Aurora believes its EU GMP capacity, regulatory expertise, genetics and integrated supply chain could support long-term growth. Aurora Cannabis Inc (NASDAQ: ACB) is a Canadian licensed producer of medical and consumer cannabis products headquartered in Edmonton, Alberta. Established in 2013, the company operates under Health Canada's regulations to cultivate, process and distribute a range of cannabis-based offerings. Since its initial public listing in 2017, Aurora has grown into one of the country's largest growers by cultivation capacity and production output. The company's core business spans the cultivation of dried flower, the extraction of cannabis oils and the development of value-added products such as softgels, capsules and topical treatments. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Aurora Cannabis Shareholders Approve Board as Fiscal 2026 Results Beat Outlook" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Net Revenue: CAD67.6 million for Q1 fiscal 2027, including a 17% increase in international medical cannabis revenue. International Medical Cannabis Revenue: Rose 17% to CAD43 million, driven by strong performance in Germany. Adjusted Gross Margin: 58%, at the high end of the expected annual range. Adjusted SG&A: Reduced to CAD35.1 million from CAD36.1 million in the prior year. Adjusted EBITDA: CAD3.4 million, compared to CAD10.8 million in the prior year. Adjusted Net Income: CAD3.8 million, compared to CAD6.6 million last year. Cash and Short-Term Investments: Nearly CAD150 million, with no debt. Free Cash Flow: Outflow of CAD5.8 million, compared to an inflow of CAD6.8 million in the prior year. Revenue Mix: Approximately 64% of total net revenue generated outside of Canada, up from 50% last year. Warning! GuruFocus has detected 3 Warning Signs with ACB. Is ACB fairly valued? Test your thesis with our free DCF calculator. Release Date: August 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. International medical cannabis net revenue rose 17% to CAD43 million, driven by strong performance in Germany, with 64% of total net revenue now generated outside of Canada. Adjusted gross margin was 58%, at the high end of the expected annual range, supported by strong contributions from international markets. The acquisition of Safari Flower Company, with its EU-GMP certified facility, adds critical manufacturing capacity and was accretive to adjusted EBITDA in the first quarter. Aurora Cannabis Inc (NASDAQ:ACB) maintains a strong balance sheet with nearly CAD150 million in cash and no debt, providing flexibility for strategic investments. The company holds leading market share positions in Germany, Poland, and Australia, and is well-positioned to benefit from potential US regulatory changes through partnerships and research collaborations. Canadian medical net revenue was negatively impacted by a 30% reduction in federal reimbursement rates, which took effect April 1st, affecting top line and adjusted gross profit. Adjusted EBITDA declined to CAD3.4 million from CAD10.8 million in the prior year, primarily due to lower adjusted gross profit before fair value adjustments. Free cash flow turned negative, with an outflow of CAD5.8 million compared to an inflow of CAD6.8 million in the prior year. Pricing pressure in the German value segment is increasing, and the company expects continued competitive pressure as new entrants join the market. The company faces regulatory uncertainty in Germany, with potential legislative changes that could impact the market, though management believes it can navigate these challenges. Q: Can you provide more details on the expectation for sequential revenue growth and EBITDA improvement off Q1, including which markets will drive growth and any cost savings opportunities? A: Miguel Martin (Executive Chairman and CEO) stated that growth will come from the same markets, with Germany being the most obvious place due to the scarcity of high-quality GMP flower. He also highlighted Poland, Australia, and New Zealand as growth opportunities. On costs, the biggest efficiencies come from genetic work and production efficiencies, with some genetics yielding up to a 40% increase in yield and improvements in quality and potency. Simona King (CFO) added that they are encouraged by strong growth in Germany and delivered adjusted gross margins at 58%, the high end of their guidance range. Q: How do you view US growers who are confident they can export into international marketsare they potential competition or potential partners? A: Miguel Martin (Executive Chairman and CEO) noted that the regulatory construct in the US is totally different from markets like Germany or Poland, and it's difficult to consistently get product into those markets. He emphasized Aurora's advantage of growing almost everything they sell and controlling the network end-to-end. He believes there will be partnership opportunities, as Aurora's decade-plus of large-scale GMP manufacturing aligns well with the rescheduling regulations coming out of the US. Q: Can you talk about the magnitude of pricing pressure in Germany and how the regulatory environment might evolve there? A: Miguel Martin (Executive Chairman and CEO) explained that Germany has three distinct quality tierspremium, core, and valueall requiring GMP certification. Most pricing pressure is in the value segment, while core and premium pricing has held up well due to increasingly stringent GMP standards. Regarding regulatory changes, he noted that companies like Aurora benefit from such changes because they make it more difficult for less-prepared competitors, citing the example of Poland where Aurora saw growth after regulatory adjustments. Q: Can you isolate the impact of lower reimbursement rates on revenue, gross profit, and EBITDA, and have you seen changes in patient behavior or pricing since the adjustment? A: Simona King (CFO) confirmed that the 30% reduction in reimbursement rates, effective April 1st, impacted Canadian medical revenues as expected. Miguel Martin (Executive Chairman and CEO) added that there has been very little change in patient behavior, as the pricing change has been handled by the LPs servicing those critical patients, with format choice and cadence remaining largely unchanged. Q: How is the integration of Safari Flower Company progressing, and do you see expected accretion and synergies in fiscal '27? A: Miguel Martin (Executive Chairman and CEO) stated that Safari Flower Company contributed to results in Q1, and the team is very pleased with the integration. The recent EU-GMP certification, valid for three years, was exciting, and early days are very encouraging, with more details to follow in coming quarters. Q: How much higher can veteran penetration in Canadian medical go, and is there room to take it up further? A: Miguel Martin (Executive Chairman and CEO) said it's difficult to determine a cap, as behavior is an interaction between the patient, doctor, and LP. He noted that new patients are joining the system regularly across different age spectrums and indications. He also highlighted the portability of insights from veteran care to other markets like Europe, the US, New Zealand, and Australia, where veteran communities are well-connected. Q: Have you been slow in the UK market, and can you still catch up given the vertical integration of downstream channels there? A: Miguel Martin (Executive Chairman and CEO) pushed back on the characterization of being slow, stating that Aurora's focus is on genetics, development, and manufacturing, not clinics or pharmacies. He expressed confidence in the UK position, noting that high-quality premium medical products are valued in the self-payer market, and Aurora's large supply of GMP products will be just fine. He emphasized a long-term view, citing success across 12-plus countries with stringent standards. Q: Can you provide color on recent progress in Australia as you transition to more core and premium offerings? A: Miguel Martin (Executive Chairman and CEO) noted that Australia allows more than flower and oils, and after almost a decade focused on the concession (value) market, they are seeing strong progress in core and premium segments. He also highlighted synergies with New Zealand, which is more difficult from a regulatory standpoint, and expressed bullishness on both markets as jumping-off points for the region. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

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. "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. 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 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. 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: Adjusted EBITDA The following is the Company's adjusted EBITDA: Adjusted Net Income The following is the Company's adjusted net income (loss): 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: Free Cash Flow The table below outlines free cash flow for the periods ended: 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: View original content to download multimedia:https://www.prnewswire.com/news-releases/aurora-cannabis-announces-fiscal-2027-first-quarter-results-302843099.html

Interested in Aurora Cannabis Inc.? Here are five stocks we like better. International medical cannabis drove growth: Revenue rose to C$67.6 million, with international medical sales up 17% to C$43 million and accounting for 64% of total revenue, led by Germany. This growth offset weaker Canadian medical revenue and Aurora’s planned exit from lower-margin Canadian consumer operations. Profitability and cash flow weakened: Adjusted EBITDA fell to C$3.4 million from C$10.8 million, while free cash flow swung to a C$5.8 million outflow. Still, adjusted gross margin held at 58%, and Aurora ended the quarter with nearly C$150 million in cash and short-term investments and no debt. Aurora reaffirmed its outlook and expansion strategy: Management expects second-quarter revenue and adjusted EBITDA to improve sequentially, supported by Germany, Poland, Australia and New Zealand. The Safari Flower acquisition and Leuna expansion are intended to increase EU GMP-certified production capacity for international markets. Profit from the Green Wave: Top Cannabis Stocks to Watch Aurora Cannabis (NASDAQ:ACB) reported fiscal first-quarter 2027 net revenue of C$67.6 million, as growth in international medical cannabis sales was offset by lower Canadian medical revenue following reimbursement changes and the company’s planned exit from lower-margin Canadian consumer cannabis operations. For the quarter ended June 30, 2026, international medical cannabis net revenue increased 17% year over year to C$43 million, driven primarily by Germany. About 64% of Aurora’s total net revenue came from outside Canada, compared with 50% a year earlier, Chief Executive Officer Miguel Martin said. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control The Cannabis Sector: Profitability Takes Center Stage Adjusted EBITDA was C$3.4 million, down from C$10.8 million in the prior-year period, while adjusted net income was C$3.8 million, compared with C$6.6 million. Chief Financial Officer Simona King said the year-over-year declines primarily reflected lower adjusted gross profit before fair-value adjustments, partly offset by lower selling, general and administrative expenses and higher other income. Consolidated adjusted gross margin was 58%, at the high end of Aurora’s annual guidance range. King said the margin result reflected strong contributions from international markets, while changes in Canadian medical pricing weighed on comparisons with the prior year. → 3 Drone Stocks That Should Soar After the Summer Slump Aurora Cannabis Earnings Reveal a Turning Tide for the Stock Adjusted selling, general and administrative expenses fell to C$35.1 million from C$36.1 million a year earlier. The C$1 million reduction was driven mainly by lower general and administrative spending, partly offset by somewhat higher selling costs. Free cash flow was an outflow of C$5.8 million, compared with an inflow of C$6.8 million in the prior-year quarter. King attributed the shift mainly to a C$9.7 million reduction in gross profit before fair-value adjustments. → The Bitcoin Comeback May Already Be Underway—2 ETFs for Exposure Aurora ended the quarter with nearly C$150 million in cash equivalents and short-term investments and no debt. King said the company believes its liquidity provides flexibility to invest in its operations and consider additional acquisitions. Martin said Aurora is prioritizing international medical cannabis markets, including Germany, Poland, Australia, New Zealand and the U.K. The company holds leading market-share positions in Canada, Germany, Poland and Australia, according to management. The company recently acquired Safari Flower Company, which operates a 59,000-square-foot indoor cultivation and manufacturing facility in Ontario. Aurora said Safari’s EU GMP certification provides additional capacity to serve international medical markets, including Germany, Poland and the U.K. Martin said the acquisition contributed to adjusted EBITDA in the first quarter. He added that Aurora intends to apply its plant-science and operational capabilities at Safari to improve yields, reduce manufacturing costs and increase the supply of EU GMP-certified flower. The company did not provide a separate financial contribution from Safari. Aurora also cited genetics as a source of production efficiency. Martin said genetic differences can produce yield improvements of up to 40% on the same cost base, while potentially improving product potency and other quality measures. Germany remains Aurora’s largest and fastest-growing international market, Martin said. Two of the company’s proprietary cultivars ranked among the top five products by sales in the country during the quarter, according to management. The company operates primarily in Germany’s premium and core product tiers, while broadening its portfolio with more value offerings. Martin said pricing pressure has been concentrated in the value segment, while pricing in core and premium categories has held up relatively well amid increasingly stringent GMP requirements. Aurora is nearing completion of an expansion at its Leuna facility in Germany. The company said the project, together with the introduction of proprietary cultivars, is expected to double the site’s annual flower output. Aurora is one of three active in-country medical cannabis producers with a production and research-and-development license under German cannabis law, Martin said. Management said it continues to monitor possible regulatory and legislative changes in Germany. Martin said the company believes stricter standards and potential changes to telehealth provisions could favor established operators with experience navigating regulated medical markets. In Poland, Aurora said it holds the No. 1 market-share position and is encouraged by increases in annual import limits. Management also pointed to France, Ukraine, Switzerland, Spain and Austria as emerging regulated markets where its cultivation, wholesale and regulatory capabilities could be applied. The fiscal first quarter marked the first full period following revisions to Canada’s federal reimbursement program, which took effect April 1. King said the program involved a 30% reduction in reimbursement rates and affected Canadian medical revenue as expected. Martin said the company has observed little change in patient behavior, product selection or purchasing cadence among affected patients, adding that most or all of the pricing impact has been absorbed by licensed producers serving those patients. Aurora said it expects to pursue market-share gains as new patients enter the Canadian medical market, while international growth helps offset the near-term impact of lower reimbursement rates. King reaffirmed Aurora’s fiscal 2027 outlook and described the year as transitional because of Canadian medical changes. The company expects international growth to partially offset those changes as it invests in sales initiatives and EU GMP capacity expansion. For the fiscal second quarter, Aurora expects revenue and adjusted EBITDA to be sequentially higher than in the first quarter. Management said Germany represents the largest opportunity, while it also expects opportunities in Poland, Australia and New Zealand. Martin also said Aurora is monitoring U.S. regulatory developments, including potential federal rescheduling. He identified potential future opportunities in research collaboration, partnerships involving GMP and medical-grade manufacturing, and longer-term import and export activity, while noting the company is awaiting further regulatory clarity. Aurora Cannabis Inc (NASDAQ: ACB) is a Canadian licensed producer of medical and consumer cannabis products headquartered in Edmonton, Alberta. Established in 2013, the company operates under Health Canada's regulations to cultivate, process and distribute a range of cannabis-based offerings. Since its initial public listing in 2017, Aurora has grown into one of the country's largest growers by cultivation capacity and production output. The company's core business spans the cultivation of dried flower, the extraction of cannabis oils and the development of value-added products such as softgels, capsules and topical treatments. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Aurora Cannabis Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Aurora Cannabis Inc. (ACB) came out with quarterly earnings of $0.04 per share, beating the Zacks Consensus Estimate of a loss of $0.13 per share. This compares to a loss of $0.19 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +130.77%. A quarter ago, it was expected that this company would post a loss of $0.07 per share when it actually produced earnings of $0.07, delivering a surprise of +200%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Aurora Cannabis, which belongs to the Zacks Medical - Products industry, posted revenues of $51.11 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.89%. This compares to year-ago revenues of $75.49 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Aurora Cannabis shares have lost about 33.4% since the beginning of the year versus the S&P 500's gain of 13%. While Aurora Cannabis has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Aurora Cannabis was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.09 on $50.71 million in revenues for the coming quarter and -$0.30 on $209.8 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Products is currently in the bottom 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Village Farms (VFF), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 10. This greenhouse operator is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of -80%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Village Farms' revenues are expected to be $56.13 million, down 6.3% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Aurora Cannabis Inc. (ACB) : Free Stock Analysis Report Village Farms International, Inc. (VFF) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

NASDAQ | TSX: ACB EDMONTON, AB, July 22, 2026 /CNW/ -- Aurora Cannabis Inc. (the "Company" or "Aurora") (NASDAQ: ACB) (TSX: ACB), the Canadian based leading global medical cannabis company, announced today that will host an investor conference call on Wednesday, August 5, 2026 at 8:00 a.m. Eastern Time | 6:00 a.m. Mountain Time to discuss its financial results for the first quarter 2027. The Company will report its financial results prior to market open that same morning. Investor Conference Call Details Miguel Martin, Executive Chairman and Chief Executive Officer, and Simona King, Chief Financial Officer, will host the call and question and answer period. This weblink has also been posted to the Company's "Investor Info" link at https://www.auroramj.com/investors/ under "Events". 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 both medical and consumer markets across Canada, Europe, Australia, and New Zealand, with a strategic focus on high-margin opportunities and a medical-first approach. Aurora's portfolio of trusted, leading brands includes Aurora®, MedReleaf®, Pedanios®, IndiMed™, San Raf®, Tasty's® and Whistler Medical Marijuana Co.® 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™. Learn more at www.auroramj.com and follow us on X and LinkedIn. 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 timing for the release of the Company's fiscal 2027 first quarter financial statements and the conference call to discuss the results. These forward-looking statements are only predictions. Forward looking information or statements contained in this news release have been developed based on assumptions management considers to be reasonable. Material factors or assumptions involved in developing forward-looking statements include, without limitation, publicly available information from governmental sources as well as from market research and industry analysis and on assumptions based on data and knowledge of this industry which the Company believes to be reasonable. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements. These risks include, but are not limited to, the magnitude and duration of potential new or increased tariffs imposed on goods imported from Canada into the United States; 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 risk of successful integration of acquired business and operations, management's estimation that SG&A will grow only in proportion of 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 crises and other risks, uncertainties and factors set out under the heading "Risk Factors" in the Company's annual information from dated June 11, 2026 (the "AIF") 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. View original content to download multimedia:https://www.prnewswire.com/news-releases/aurora-cannabis-to-host-first-quarter-2027-investor-conference-call-302832540.html