Aurora Cannabis Inc (TSX:ACB, NASDAQ:ACB) on Wednesday reported second quarter fiscal 2026 net revenue that rose 11% year over year to C$90.4 million, boosted by a 15% increase in medical cannabis sales.
Analysts, on average, were expecting revenue of C$87.33 million.
The company’s consumer cannabis revenue, however, fell 34% to C$6.9 million, as Aurora Cannabis continued to shift its focus to the higher margin medical cannabis business.
"We achieved record net revenue for global medical cannabis representing a 15% year-over-year increase, while adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 52%," Aurora Cannabis CEO Miguel Martin said in a statement.
"These strong results affirm our strategic prioritization of medical cannabis as the industry's most compelling growth area."
Looking ahead to Q3, the company said it expects to see its consolidated net revenue increase year over year, driven primarily by 8% to 12% growth in its Global Medical Cannabis segment, while also anticipating positive free cash flow for the period.