Aurora Cannabis Q1 revenue falls 9% on Canadian reimbursement cuts

Aurora Cannabis

05/08/2026 12:27

Overview
Canada medical cannabis producer's fiscal Q1 revenue fell 9% yr/yr, slightly beating analyst expectations
Adjusted net income for fiscal Q1 declined yr/yr
Revenue decline driven by lower Canadian medical cannabis sales and consumer business wind down, offset by international growth

Outlook
Aurora expects fiscal Q2 revenue and adjusted EBITDA to be sequentially higher than Q1
Company reiterates unchanged fiscal 2027 outlook, focusing on global medical cannabis markets
Aurora investing in EU-GMP capacity and international sales to support growth in key markets

Result Drivers
CANADIAN REIMBURSEMENT CUTS - Co said lower Canadian medical cannabis revenue was mainly due to federal reimbursement rate reductions effective April 1, 2026
INTERNATIONAL GROWTH - Co said international medical cannabis revenue rose 17% yr/yr, mainly due to higher sales in Germany driven by increased patient demand
CONSUMER BUSINESS WIND DOWN - Co attributed lower consumer cannabis revenue to its strategic shift away from the consumer business

Company press release: ID:nPn9J1kqZa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Beat*
C$67.55 mln
C$67.21 mln (5 Analysts)
Q1 Adjusted Net Income
 
C$3.81 mln
 
Q1 Net Income from Cont Ops
 
-C$4.03 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the pharmaceuticals peer group is "buy"
Wall Street's median 12-month price target for Aurora Cannabis Inc is C$5.00, about 27.9% above its August 4 closing price of C$3.91

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)