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Aurora Cannabis Inc. (Nasdaq: ACB) (TSX: ACB), a leading Canada-based global medical cannabis company, today announced its financial and operational results for the second quarter fiscal 2025, ended September 30th, as follows;.

Q2 Financial Highlights

The information below compares Q2 2025 with Q1 2025; all figures are in Canadian dollars. Go here to convert into another currency.

• Net Revenue: DOWN 2.8% to $81.1M
  • • Adj. Gross Margin: UP to 54% from 43%
  • Medical: UP 29.9% to $61.3M
    • Adj. Gross Margin: DOWN to 68% from 69%
    • As a % of Net Revenue: UP  to 75.6% from 56.6%
  • Recreational: DOWN 9.6% to $10.4M
    • Adj. Gross Margin: DOWN to 14% from 24%
    • As a % of Net Revenue: DOWN to 12.8% from 13.8%
  • Plant Propagation: DOWN 62.8% to $8.6M
    • Adj. Gross Margin: UP to 19% from 18%
    • As a % of Net Revenue: DOWN to 10.6% from 27.7%
• SG&A Exp.: UP 1.0% to $31.7M
  • As a % of Net Revenue: UP to 39.1% from 37.6%
• Adj. EBITDA: UP 106.1% to $10.1M 
  • As a % of Net Revenue: UP to 12.3% from 5.9%
• Net Profit (Loss): UP to 41.7M from $(4.8)M
   

Management Commentary

Miguel Martin, Chief Executive Officer, said:

• "Our strong quarterly results demonstrate Aurora's leadership in global medical cannabis and ability to capitalize on opportunities within rapidly growing markets such as Australia, Germany, Poland, and the UK.
  • International revenue increased 93% to $35 million, exceeding Canadian Medical revenue for the first time, and contributing 57% to total global medical cannabis revenue.
  • The Bevo plant propagation segment also grew a robust 21% during its seasonally lowest quarter, proving the efficacy of our diversified operating model.
• With two quarters remaining in the fiscal year, we are proud to have delivered record adjusted EBITDA and believe fiscal 2025 is anchored by our commitment to strategic growth, operational excellence, and the continued strength of our balance sheet." 

Fiscal Q3 2025 Expectations

The Company expects to see:

• continued strong net revenue and adjusted gross margins across our global medical cannabis business, supported by net revenue growth in Europe and Australia;
• seasonally reduced net revenues and adjusted gross profit for plant propagation that will be in line with historical seasonal trends as 25% – 35% of revenues are normally earned in the second half of a calendar year; and
• positive adjusted EBITDA is expected to continue, while free cash flow is projected to be positive due to strong net revenue and a continued spend discipline, resulting in strong adjusted gross margins.

Stock Performance

Aurora's (ACB) stock price went UP 26.4% during Q2 (July 1st to September 30th), UP another 4.6% between then and yesterday, but is DOWN 17.7% as of mid-day today, and is now only UP 2.4% YTD.

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