NASDAQ$ACB
Aurora Cannabis Inc · Q2 2026 earnings
Q2 2026 earnings · · Before market open · Investor relations
Briefing
Aurora Cannabis records $70.5M global medical revenue as adjusted EBITDA jumps 52% to $15.4M
Aurora Cannabis reported fiscal Q2 2026 (ended September 30, 2025) total net revenue of $90.4 million, up 11% year over year, led by 15% growth in global medical cannabis net revenue to a record $70.5 million. International medical revenue rose 22% to $42.7 million while consumer cannabis revenue fell 34% to $6.9 million as the company prioritized higher-margin medical supply. Adjusted EBITDA increased 52% to $15.4 million and adjusted gross margin before fair value adjustments was 61%. The company reported a GAAP net loss from continuing operations of $53.2 million, reflecting fair value and impairment adjustments, while adjusted net income was $7.1 million. Aurora maintained $141.9 million in cash with a debt-free cannabis business.
- Total net revenue was $90.4M (+11% YoY) with global medical cannabis revenue at a record $70.5M (+15%)
- International medical revenue grew 22% to $42.7M; consumer cannabis revenue fell 34% to $6.9M
- Adjusted EBITDA rose 52% to $15.4M with adjusted gross margin of 61% on total net revenue
- GAAP net loss from continuing operations was $53.2M; adjusted net income was $7.1M
- Cash balance was $141.9M with debt-free cannabis operations; Q3 medical revenue expected up 8% to 12% YoY
Headline financials
Revenue & EPS history
Aurora Cannabis · Revenue · Quarterly
C$64M
Revenue by segment
Aurora Cannabis · C$89M total across 3 segments · Q2 2026
- Medical cannabisC$70.5M—79.3%
- Plant propagation (Bevo)C$11.6M—13.0%
- Consumer cannabisC$6.87M—7.7%
Forward guidance
For fiscal Q3 2026 Aurora expects consolidated net revenue to increase year over year, driven by 8% to 12% growth in global medical cannabis, with positive free cash flow expected in Q3.
Tailwinds
- Record global medical cannabis revenue with leadership in Canada, Germany, Australia and UK
- Adjusted EBITDA up 52% with strong medical gross margins near 69%
Headwinds
- GAAP net loss of $53.2M driven by fair value and impairment charges
- Consumer cannabis revenue down 34% as supply prioritized to medical channel
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2026
+0.5%
Avg return
Earnings day
+2.9%
Avg return
5 days after
-2.8%
Avg return
30 days after
35%
15 / 43 earnings
Positive
+93.1%
Q3 2020
Best reaction
-34.0%
Q2 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -5.8% | -8.3% | — | |
| Q2 2026 | -4.1% | +2.9% | +1.3% | |
| Q2 2025 | -16.7% | -21.8% | -26.5% | |
| Q4 2023 | +0.4% | +4.3% | +27.1% | |
| Q1 2026 | -11.0% | -17.7% | +0.5% | |
| Q3 2024 | +9.6% | -1.0% | -19.7% | |
| Q2 2024 | +0.4% | -0.6% | +10.4% | |
| Q1 2024 | +0.8% | -0.9% | +0.2% | |
| Q3 2023 | -9.2% | -7.8% | -8.9% | |
| Q2 2023 | -7.2% | -5.4% | -24.9% | |
| Q1 2023 | +26.4% | +27.3% | -6.6% | |
| Q4 2022 | -11.6% | -18.4% | -25.9% | |
| Q3 2022 | +24.0% | +34.9% | -38.9% | |
| Q2 2022 | -3.2% | -0.2% | -31.7% | |
| Q1 2022 | -2.7% | +16.4% | -14.0% | |
| Q4 2021 | +14.5% | +19.0% | +15.0% | |
| Q3 2021 | -11.0% | -4.3% | +27.4% | |
| Q2 2021 | -34.0% | -25.5% | -44.1% | |
| Q1 2021 | -15.2% | -27.7% | +0.9% | |
| Q4 2020 | -18.2% | -20.1% | -23.3% | |
| Q3 2020 | +93.1% | +152.6% | +127.8% | |
| Q2 2020 | +8.2% | +12.3% | -47.3% | |
| Q1 2020 | -23.1% | -34.1% | -25.9% | |
| Q4 2019 | -6.2% | -13.2% | -41.4% | |
| Q3 2019 | +8.2% | +8.2% | -5.6% | |
| Q2 2019 | -5.5% | -7.1% | +19.5% | |
| Q1 2019 | -8.1% | -12.2% | -16.0% | |
| Q4 2018 | -0.9% | +8.8% | -15.9% | |
| Q3 2018 | -0.9% | +0.3% | +18.2% | |
| Q2 2018 | +1.3% | -0.2% | -0.2% | |
| Q1 2018 | +19.4% | +63.6% | +79.2% | |
| Q4 2017 | -2.4% | -3.0% | -2.6% | |
| Q3 2017 | +2.2% | +1.7% | -11.0% | |
| Q2 2017 | -3.5% | -3.5% | -2.1% | |
| Q1 2017 | -1.7% | -10.8% | -16.5% | |
| Q4 2016 | +1.8% | -2.6% | +22.3% | |
| Q3 2016 | -2.9% | — | — | |
| Q2 2015 | -0.1% | — | — | |
| Q1 2015 | +16.0% | — | — | |
| Q4 2015 | -0.2% | — | — | |
| Q3 2014 | +0.0% | — | — | |
| Q2 2014 | +0.0% | — | — | |
| Q1 2014 | +0.0% | — | — | |
| Q4 2013 | — | — | — | |
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| Q4 2009 | — | — | — | |
| Q3 2009 | — | — | — |
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