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Earnings

Aurora Cannabis Announces Fiscal 2026 Second Quarter Results

By The Northwire Desk — AI Analysis Nov 05, 2025 · 07:00 ACB · 6.42 AURORA CANNABIS INC. J
ACB · Price

Executive Summary

  • Aurora Cannabis reported record global medical cannabis net revenue of $70.5 M, a 15% YoY increase, and adjusted EBITDA growth of 52% to $15.4 M.
  • Consolidated net revenue reached $90.4 M (11% YoY), driven by strong medical‑cannabis sales and a 34% rise in plant‑propagation revenue.
  • Net loss from continuing operations widened to $(53.2) M, but adjusted net income improved to $7.1 M; free cash flow remained negative at $(42.3) M.

Key Details

  • Revenue Highlights
  • Total net revenue: $90.4 M (up 11% YoY).
  • Medical cannabis net revenue: $70.5 M (15% YoY, 78% of total revenue).
  • Plant propagation (Bevo) revenue: $11.6 M (34% YoY).

  • Consumer cannabis revenue declined to $6.9 M (‑34% YoY).

  • Margin & Profitability

  • Consolidated adjusted gross margin before FV adjustments: 61% (up from 54%).
  • Medical cannabis adjusted gross margin: 69% (flat YoY).

  • Consumer cannabis adjusted gross margin improved to 27% (from 15%).

  • Operating Expenses

  • Adjusted SG&A expense: $35.5 M (‑5% YoY).

  • Incremental freight, logistics, and post‑acquisition costs cited.

  • Adjusted EBITDA & Net Income

  • Adjusted EBITDA: $15.4 M (↑52% YoY).

  • Adjusted net income: $7.1 M (↑135% YoY).

  • Cash Position

  • Cash balance: $141.9 M; debt‑free cannabis business aside from $59.8 M non‑recourse debt tied to Bevo Farms.

  • Free cash flow: $(42.3 M) (worsened vs. prior period).

  • Guidance for Q3 2026

  • Expect consolidated net revenue growth YoY, driven by 8–12% expansion in Global Medical Cannabis.
  • Plant propagation revenue to follow seasonal patterns; 25–35% of annual revenue typically earned H2.

  • Anticipate continued strong adjusted gross margins and positive free cash flow.

  • Conference Call

  • Hosted on Nov 5, 2025 at 8:00 a.m. ET / 6:00 a.m. MT; led by CEO Miguel Martin and CFO Simona King.

Notable Quotes

“Our quarterly performance highlights our continued focus on profitable growth…record net revenue…adjusted EBITDA rose 52%.” – Miguel Martin, Executive Chairman & CEO
“Looking ahead, we intend to deliver continued strong results for our shareholders supported by a sizable cash balance and debt‑free cannabis business.” – Miguel Martin

Read the original news release →

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