Canada · Delayed Price · Currency is CAD Aurora Cannabis Earnings Call Transcripts
Fiscal Year 2026
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Net revenue and adjusted EBITDA exceeded guidance in FY26, driven by global medical cannabis growth and operational efficiencies. FY27 is expected to see lower revenue due to Canadian reimbursement changes, but international expansion and acquisitions like Safari Flower support long-term growth.
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The company has completed a major restructuring, focusing on high-margin medical cannabis and divesting lower-margin segments. Strong growth is driven by international markets, especially Europe and Australia, supported by operational excellence, regulatory expertise, and a robust balance sheet.
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Q3 saw 7% revenue growth, record international medical cannabis sales, and strong margins, with adjusted EBITDA of CAD 18.5 million and positive free cash flow. Strategic exits from lower-margin segments and a new ATM program position the company for continued global medical cannabis leadership.
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Net revenue grew 11% to $90.4M, led by record Global Medical Cannabis sales and strong international growth. Adjusted EBITDA rose 52% to $15.4M, with margins expanding and a robust cash position maintained. Regulatory changes in Canada and Europe present uncertainties.
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Net revenue grew 17% to $98M, driven by 37% growth in medical cannabis and 85% international growth. Adjusted EBITDA more than doubled, margins improved, and free cash flow was positive. Outlook remains strong with continued revenue and margin expansion expected.
Fiscal Year 2025
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A medical cannabis-first strategy and global expansion drove record financial results, with net revenue up 27% and international medical cannabis revenue up 89% in 2025. Operational strengths and innovation support continued growth, especially in Europe and Australia.
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Focused on global medical cannabis, the company leverages early market entry, regulatory expertise, and disciplined capital allocation to maintain leadership in key regions. Strong financial performance, high margins, and strategic M&A support ongoing growth and innovation.
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Record financial results were reported, with strong revenue and profitability growth, especially in global medical cannabis. All motions passed except for one director's election and the advisory vote on executive compensation. Strategic focus remains on international expansion and operational efficiency.
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Record fiscal 2025 results included 27% revenue growth, 39% global medical cannabis growth, and strong margins, with international markets driving performance. Q1 2026 guidance anticipates temporary international softness but ongoing positive free cash flow and margin strength.
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Restructuring and a strategic focus on high-margin medical cannabis have driven record financial results and strong market positions in Canada, Germany, and Australia. Innovation, capacity investments, and expansion into new markets like New Zealand support continued growth and high margins.
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Record quarter with 37% revenue growth, 51% increase in global medical cannabis, and strong profitability. International medical now leads, margins remain high, and outlook is positive with continued focus on medical-first strategy and disciplined capital allocation.
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Q2 saw 29% revenue growth, record medical cannabis sales, and strong international expansion, especially in Europe and Australia. Profitability improved with higher margins and positive adjusted EBITDA, while a debt-free balance sheet supports future growth.
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Record quarterly revenue and margins were achieved, led by medical cannabis growth in Canada and internationally. Positive free cash flow was reached ahead of schedule, with strong balance sheet and continued EBITDA growth. Outlook remains positive for key markets and segments.
Fiscal Year 2024
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The meeting confirmed strong financial performance, including positive Adjusted EBITDA and free cash flow, and approved all motions, including board elections and plan amendments. Strategic growth was highlighted in international markets, with a focus on innovation and fiscal discipline.
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Fiscal 2024 saw record results with 21% revenue growth and six straight quarters of positive adjusted EBITDA, driven by global medical cannabis expansion and disciplined cost management. Outlook for FY2025 is strong, with further revenue and margin gains expected, and positive free cash flow targeted by year-end.