Aurora Cannabis Q1 FY2027 adjusted EBITDA drops as Canada medical reimbursement cuts squeeze margins, company says

Adjusted EBITDA declined to CAD 3.44 million from CAD 10.82 million as adjusted gross profit fell; net loss from continuing operations narrowed to CAD 4.03 million.

Operating cash flow turned negative at CAD 4.45 million; financing cash inflow of CAD 5.38 million was driven by CAD 6.8 million raised via the ATM Program.

For the three months ended June 30, 2026, net revenue fell to CAD 67.55 million from CAD 74.08 million; gross margin rose to 53% from 45%.

Medical cannabis net revenue held near-flat at CAD 64.04 million; international medical sales rose to CAD 43.34 million, led by higher Germany demand.

Canadian medical sales dropped to CAD 20.7 million from CAD 27.67 million, reflecting lower reimbursement rates; consumer cannabis revenue slid to CAD 2.06 million.