Aurora Cannabis Inc. (ACB) Earnings Call Transcripts
Aurora Cannabis Inc.'s Latest Earnings Call - Q4 FY2026
In the fourth quarter of fiscal year 2026, Aurora Cannabis Inc. reported net revenue of $84.8 million, reflecting a 10% increase year-over-year, driven by a 14% rise in global medical cannabis revenue. Adjusted EBITDA was $9.2 million, in line with expectations, while adjusted net income decreased to $5.6 million due to increased SG&A expenses. Management anticipates fiscal year 2027 to be a 'reset year' with total net revenue expected to decline, primarily due to changes in Canadian medical reimbursement rates, which will impact margins and profitability, although international growth is expected to partially offset this decline.
Reported metrics
| Metric | Value |
|---|---|
| Net Revenue | $84.8 million (beat) |
| Adjusted EBITDA | $9.2 million (inline) |
| Adjusted Net Income | $5.6 million (miss) |
| Adjusted Gross Margin | 60% (miss) |
| Cash and Cash Equivalents | $165 million (neutral) |
| International Revenue Growth | 90% (positive) |
Guidance from management
Management expects fiscal year 2027 to be a reset year with total net revenue declining, primarily due to changes in Canadian medical reimbursement rates. Adjusted gross margins are projected to be in the mid to high 50s.
What analysts pressed on
Analysts expressed concerns regarding the impact of the Canadian reimbursement changes on revenue and margins. There were questions about how patient behavior might shift in response to these changes and the potential for increased competition in the medical cannabis market.
Main topics on the call
- Revenue Growth — Aurora's net revenue for fiscal year 2026 rose 11% to $321 million, exceeding guidance by $8 million. Management noted, 'This exceeded the top end of our guided range by $8 million.'
- Adjusted EBITDA Performance — Adjusted EBITDA grew 32% year-over-year to $54 million, reflecting strong operational efficiencies. Management stated, 'Adjusted EBITDA was above the midpoint of our guided range.'
- Strategic Market Exits — Aurora is exiting lower-margin Canadian consumer markets to focus on higher-margin medical cannabis. Management indicated, 'We took deliberate steps to sharpen that focus by initiating our exit from certain markets.'
- Acquisition of Safari Flower Co. — The acquisition for $26.5 million aims to enhance Aurora's EU GMP capacity. Management expressed optimism, stating, 'We think there's a lot of upside' from this acquisition.
Read the full Aurora Cannabis Inc. transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Aurora Cannabis Inc.
Aurora Cannabis Inc. (ACB) is a publicly listed company in the Pharmaceuticals industry, within the Health Care sector. It trades on TSX and is based in CA. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 33 calls on record spanning February 6, 2020 to August 7, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 33 Aurora Cannabis Inc. earnings call transcripts on record, spanning February 6, 2020 to August 7, 2026. Based on this history, Aurora Cannabis Inc. reports quarterly. The most recent call on file is dated August 7, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- ACB
- Exchange
- TSX
- Country
- CA
- Sector
- Health Care
- Industry
- Pharmaceuticals
- Calls on record
- 33
- First call
- February 6, 2020
- Most recent
- August 7, 2026
- Reporting cadence
- quarterly