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Aurora Cannabis (ACB) investor relations material
Aurora Cannabis Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary5 Nov, 2025
Executive summary
Achieved record net revenue of $90.4M in Q2 2026, up 11% year-over-year, driven by global medical cannabis and plant propagation segments, with global medical cannabis net revenue up 15% to $70.5M and international medical revenue up 22% to $42.7M.
Adjusted EBITDA rose 52% to $15.4M, reflecting strong operational execution and cost discipline.
Maintained a strong cash position of $141.9M–$142M and no cannabis business debt, with only non-recourse debt at Bevo Farms.
Sustained leadership in Canada and key international markets, including Germany, Australia, Poland, and the UK.
Focused on high-growth, high-margin global medical cannabis, with continued international expansion and strategic acquisitions.
Financial highlights
Net revenue increased 11% year-over-year to $90.4M, with global medical cannabis net revenue at $70.5M and plant propagation revenue at $11.6M, up 34%.
Adjusted gross margin before fair value adjustments was 61%, up from 54% year-over-year.
Adjusted net income improved to $7.1M from $3.0M in the prior year.
Free cash flow ranged from negative $42.3M to negative $26.4M, reflecting seasonal outflows and improvement over the prior year.
Net loss from continuing operations was $53.2M, compared to net income of $1.4M in the prior year, due to higher operating and other expenses.
Outlook and guidance
Q3 2026 consolidated net revenue expected to increase year-over-year, led by 8–12% growth in global medical cannabis.
Plant propagation revenue to follow seasonal trends, with 25–35% of annual revenue in the second half of the year.
Adjusted gross margins expected to remain strong, supporting annual adjusted EBITDA growth and positive free cash flow in Q3 2026.
Continued focus on profitable growth in global medical cannabis and plant propagation, with further momentum expected in Europe and internationally.
Acceleration of Bevo Farms' business plan to drive revenue and EBITDA growth over the next 2–3 years.
German home delivery regulation impact
New medical gross margin target
Veteran reimbursement changes: business impact
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Next Aurora Cannabis earnings date
Q3 20264 Feb, 2026
Next Aurora Cannabis earnings date
Q3 20264 Feb, 2026
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Frequently asked questions
Aurora Cannabis, Inc. is focused on producing medical cannabis pursuant to the Canadian Access to Cannabis for Medical Purposes Regulations and operating a network of ACMPR licensed producers through its wholly owned subsidiaries. Aurora is the largest producer of medical cannabis in Canada, the second-largest in the world and is expanding globally with multiple production facilities in Canada under construction or planned. Aurora Cannabis Inc. is headquartered in Edmonton, Canada.
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