U.S.-listed shares of Aurora Cannabis (ACB.TO, ACB) fell 4% in pre-market trading on Thursday after it said it expects fiscal year 2027 total net revenue to decline and be more in line with its Cannabis net revenue results in fiscal year 2025, following the changes in Canadian medical partially offset by international growth, driven by Germany and Poland.
For the three months ended March 31, 2026, the company reported adjusted net income of $5.6 million, compared with $15.3 million, a year earlier.
Net revenue increased to $84.8 million in the fourth quarter, compared with $76.8 million, a year-ago, due to a 14% growth in its global medical cannabis business and higher wholesale bulk cannabis net revenue, offset by lower quarterly net revenue in its consumer cannabis business, it said. The result beat a consensus estimate compiled by FactSet of $75.7 million.
"Over the next few quarters, we are purposely investing in our international business through strategic sales initiatives and EU GMP capacity expansion to support growth in our most profitable markets," said the company in a statement. "These efforts are expected to help offset the impact of margin reductions in our Canadian medical business, following the reduction in government reimbursed pricing, effective April 1, 2026."
Adjusted EBITDA in fiscal year 2027 is expected to vary quarter over quarter, leading to lower annual adjusted EBITDA compared to the prior fiscal year, it added.
Shares of the company closed down 2.9% to $4.59 on Wednesday on the Toronto Stock Exchange.