Aurora Cannabis Reports First Quarter Fiscal 2027 Revenue Decline

Aurora Cannabis Inc. reported total net revenue of $67.6 million for the first quarter of fiscal 2027, ending June 30, 2026. This represents a 9% decrease from the previous year, primarily driven by a strategic wind-down of the consumer cannabis business and a 30% reduction in Canadian federal reimbursement rates that took effect on April 1, 2026.

Despite the overall decline, the company saw international medical cannabis net revenue grow 17% to $43.3 million, fueled by rising patient demand in Germany. Aurora reported a net loss from continuing operations of $4.0 million, an improvement over the $10.2 million loss recorded in the prior year.

To support global expansion, the company acquired Safari Flower Company on April 14, 2026. This acquisition added a 59,000 square foot EU-GMP certified facility in Ontario to Aurora's international manufacturing capacity. CEO Miguel Martin stated he remains confident in the company's commercial execution and expects both revenue and Adjusted EBITDA to improve sequentially in the second quarter.