Canada's Aurora Cannabis Q2 revenue beats estimates on international demand

Overview

• Canada medical cannabis producer's fiscal Q2 revenue rose 9% yr/yr, beating analyst expectations

• Adjusted net income for fiscal Q2 declined yr/yr

• Company to be acquired by Organigram in deal expected to close January 2027

Outlook

• Aurora Cannabis expects acquisition by Organigram to close in January 2027, pending approvals

Result Drivers

• INTERNATIONAL MEDICAL SALES - Co said record international medical cannabis net revenue rose 44% yr/yr, mainly due to higher sales in Germany and Poland driven by increased patient demand

• CANADIAN MEDICAL REIMBURSEMENT CHANGES - Co said Canadian medical cannabis net revenue fell 24% yr/yr, mainly due to changes in the federal reimbursement program effective April 1, 2026

• CONSUMER CANNABIS WIND DOWN - Co said consumer cannabis net revenue dropped due to its strategic shift to focus on medical cannabis and wind down its consumer cannabis business

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and 1 "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$7.80, about 6.7% above its November 4 closing price of C$7.31

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(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.)