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Aurora Cannabis Inc (ACB) stock

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NASDAQ: ACB Nasdaq Pharmaceuticals Next results ~November 12, 2026

C+ Fundamentals grade

Aurora Cannabis Inc is a US-listed company in the pharmaceuticals industry. Its financial year ends in March.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$9.3

Revenue-to-maturity cash-flow model

Base case. Range ~$7.5–$12 across our lower- and higher-growth cases (6.699999999999999%–16.7% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Aurora Cannabis Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds44 adding, 44 cuttingOf 7 active managers that changed their stake, 4 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Aurora Cannabis files

Where Aurora Cannabis stands after its latest Filing

Revenue for the twelve months was $232m, up 11.7% on a year earlier, faster than the 3.9% growth a quarter earlier. Free-cash-flow margin rose to -5.4% from -107.5% a year earlier. Operating margin widened to 1.9% from -173.3%. The diluted share count is up 3.0% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 5 of our 5 financial-health checks. Our revenue-to-maturity cash-flow model value is $8.87 a share, against a share price of $4.06.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 12, 2026 (estimated)

Aurora Cannabis Inc's trailing-twelve-month revenue grew 11.7% year on year, with a free-cash-flow margin of -5.4%. Where it stands out: long-term debt as % of assets of 0.0% ranks 1 of 53 pharmaceuticals companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 11.7% (+7.8pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 7.8 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 18.6 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Burning cash. Free cash flow was -5.4% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 3.0% in a year.
  • Gross margin slipping. Gross margin is down 20.2 points on a year ago.
  • Below peers: net margin. Net margin of -42.4% ranks 58 of 75 pharmaceuticals companies we cover (median -7.3%).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results

Earnings per share
-$0.07 against an average estimate of -$0.21: beat by 67.1%
Next report
November 12, 2026

Aurora Cannabis' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.9%
  • 1 week+8.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$232M
Operating margin
1.9%
Net margin
-42.4%
EPS (TTM, diluted)
$-1.72

Growth

Revenue growth
+11.7%
Change in growth rate
+7.8 pts
Share count change
+3.0%

Cash

Free cash flow (TTM)
-$12.5M
FCF margin
-5.4%
Stock pay % of revenue
2.3%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for ACB from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Aurora Cannabis Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Aurora Cannabis Inc as an operating company, with every model that fits that kind of business. Cost of equity 8.8%: the 10-year Treasury yield (4.9%) plus a beta of 0.86 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$9.3 ~$7.5–$12 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$0.0 ~$4.2–$18 Left out: out of range vs price (0.00x)
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$9.3 ~$7.5–$12 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Aurora Cannabis Inc with Pharmaceuticals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 12, 2026, before the open.

Analysts' consensus

No analyst estimates are published for Aurora Cannabis Inc: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.21 −$0.07 +67.1%
Mar 2026 −$0.14 −$0.99 −590.7%
Dec 2025 −$0.09 $0.03 +135.3%
Sept 2025 −$0.10 −$0.91 −810.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

4 analysts, Nov 2026
Buy125%
Hold375%
Sell00%

Monthly trend

  1. Nov 2026134
  2. Oct 2026235

Counts of recommendations published by analysts covering Aurora Cannabis Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
—
of tradable shares
Days to cover
7.49
at average volume
Short interest, 1 month
+10%
to October 15, 2026
Held by institutions
9%
of shares
Held by insiders
1.2%
of shares
Employees
1,028
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Aurora Cannabis Inc in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Aurora Cannabis Inc
$0 $100M $200M $300M FY19 Q1 FY21 Q1 FY23 Q1 FY26 Q4 Revenue (TTM), FY19 Q1: $43.5M Revenue (TTM), FY20 Q1: $185.5M Revenue (TTM), FY21 Q1: $200.2M Revenue (TTM), FY22 Q1: $191.5M Revenue (TTM), FY23 Q1: $174.9M Revenue (TTM), FY24 Q4: $200M Revenue (TTM), FY25 Q4: $207.8M Revenue (TTM), FY26 Q4: $232M $232M

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue (TTM)
FY19 Q1 $43.5M
FY20 Q1 $185.5M
FY21 Q1 $200.2M
FY22 Q1 $191.5M
FY23 Q1 $174.9M
FY24 Q4 $200M
FY25 Q4 $207.8M
FY26 Q4 $232M
Revenue growth, TTM YoY Aurora Cannabis Inc
-100% 0% 100% 200% 300% 400% FY20 Q1 FY21 Q1 FY22 Q1 FY23 Q1 FY25 Q4 FY26 Q4 Revenue growth, TTM YoY, FY20 Q1: 326.8% Revenue growth, TTM YoY, FY21 Q1: 7.9% Revenue growth, TTM YoY, FY22 Q1: -4.4% Revenue growth, TTM YoY, FY23 Q1: -8.7% Revenue growth, TTM YoY, FY25 Q4: 3.9% Revenue growth, TTM YoY, FY26 Q4: 11.7% 11.7%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue growth, TTM YoY
FY20 Q1 326.8%
FY21 Q1 7.9%
FY22 Q1 -4.4%
FY23 Q1 -8.7%
FY25 Q4 3.9%
FY26 Q4 11.7%
Operating margin (TTM) Aurora Cannabis Inc
-200% -150% -100% -50% 0% 50% FY19 Q1 FY21 Q1 FY23 Q1 FY25 Q4 Operating margin (TTM), FY19 Q1: -173.5% Operating margin (TTM), FY20 Q1: -129.6% Operating margin (TTM), FY21 Q1: -173.3% Operating margin (TTM), FY22 Q1: -115.3% Operating margin (TTM), FY23 Q1: -104.6% Operating margin (TTM), FY24 Q4: -16.7% Operating margin (TTM), FY25 Q4: 1.9% 1.9%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Operating margin (TTM)
FY19 Q1 -173.5%
FY20 Q1 -129.6%
FY21 Q1 -173.3%
FY22 Q1 -115.3%
FY23 Q1 -104.6%
FY24 Q4 -16.7%
FY25 Q4 1.9%
FCF margin (TTM) Aurora Cannabis Inc
-400% -200% 0% 200% FY19 Q1 FY22 Q1 FY24 Q4 FY26 Q4 FCF margin (TTM), FY19 Q1: -396.1% FCF margin (TTM), FY20 Q1: -247.0% FCF margin (TTM), FY22 Q1: -107.5% FCF margin (TTM), FY23 Q1: -64.4% FCF margin (TTM), FY24 Q4: -29.9% FCF margin (TTM), FY25 Q4: 4.5% FCF margin (TTM), FY26 Q4: -5.4% -5.4%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period FCF margin (TTM)
FY19 Q1 -396.1%
FY20 Q1 -247.0%
FY22 Q1 -107.5%
FY23 Q1 -64.4%
FY24 Q4 -29.9%
FY25 Q4 4.5%
FY26 Q4 -5.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 40-F. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Jun 2018 2020 Jun 2019 2021 Jun 2020 2022 Jun 2021 2023 Jun 2022 2024 Mar 2024 2025 Mar 2025 2026 Mar 2026
Income
Revenue 43 186 200 191 175 200 208 232
Gross profit 34 108 −15 −17 17 98 130 99
EBITDA −66 −193 −297 −182 −144 −25 6 —
Operating income −75 −240 −347 −221 −183 −33 4 —
Net income 57 −222 −2,446 −540 −1,357 −51 1 −98
Diluted EPS $7.09 −$13.15 — −$16.01 −$31.57 −$1.13 $0.03 −$1.55
Growth (year on year)
Revenue — +326.8% +7.9% −4.4% −8.7% +14.4% +3.9% +11.7%
Net income — −491.5% — — — — — —
Diluted EPS — −285.5% — — — — — —
Margins
Gross margin 78.8% 58.0% −7.4% −8.8% 9.6% 48.9% 62.6% 42.6%
EBITDA margin −151.6% −103.8% −148.2% −95.3% −82.6% −12.3% 2.7% —
Operating margin −173.5% −129.6% −173.3% −115.3% −104.6% −16.7% 1.7% —
Net margin 130.3% −119.5% <−999% −282.2% −776.0% −25.7% 0.6% −42.4%
Free-cash-flow margin −396.1% −247.0% — −107.5% −64.4% −25.4% 5.5% −4.2%
Cash flow
Cash from operations −64 −145 −255 −164 −87 −51 12 −10
Capital spending 108 313 — 41 25 0 0 0
Free cash flow −172 −458 — −206 −113 −51 12 −10
Stock-based pay 29 81 44 16 11 9 8 5
Free cash flow after stock pay −202 −539 — −222 −123 −60 3 −15
Balance sheet
Cash — — — — — 101 96 46
Total debt 9 108 150 — 0 42 43 0
Net debt (negative = net cash) — — — — — −58 −53 −46
Diluted shares 8m 17m 19m 34m 43m 43m 56m 57m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 5 checks passed · March 31, 2026
What it owns · $431m
Short-term assets $285mLonger-term assets $146m
What it owes, and who funded it · $431m
Short-term liabilities $48mLonger-term liabilities $16mShareholders' equity $367m
  • Short-term assets cover short-term liabilities $285m of assets due within a year against $48m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $285m short-term assets against $16m of longer-dated liabilities.
  • More cash than debt $46m of cash against $0 of debt.
  • Debt below 40% of shareholders' equity Debt is 0% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt No debt to cover.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Aurora Cannabis Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+3.0%
year over year
R&D spending
1.3%
of revenue
Days sales outstanding
50 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in pharmaceuticals
Last 12 months unless stated ACB VNDA HROW OGI BTMD KMDA Median
Revenue, last 12 months $232m $229m $276m $185m $184m $180m $276m
Revenue growth, last 12 months 11.7% 8.1% 21.1% 57.8% −7.8% 12.1% 9.9%
Revenue growth, 3-year average — 2.7% 39.0% — 0.5% — 5.5%
Revenue growth, latest quarter — 24.1% 10.9% — −9.5% — 6.5%
Gross margin 42.6% 90.0% 73.3% 34.8% — 42.3% 62.0%
Operating margin 1.9% −77.6% −1.0% −5.9% 8.0% 14.5% −5.9%
Operating margin, 3-year average — −51.4% −0.1% — 13.9% 7.0% −7.4%
Net margin −42.4% −119.9% −13.5% −9.6% 3.2% 11.2% −7.3%
Cash from operations / revenue −4.2% −60.7% 2.3% −2.9% 13.3% 14.1% 10.2%
Free-cash-flow margin −5.4% −61.0% 1.8% −9.5% 10.8% 13.2% 8.6%
Free-cash-flow margin, 3-year average — −36.6% 0.8% — 13.2% 1.7% 7.4%
Stock pay / revenue 2.3% 4.1% 5.3% 1.6% 4.5% 0.5% 3.6%
Change in share count 3.0% 1.8% 0.5% 34.0% 3.3% 0.9% 1.9%

Median of all 75 companies we cover in pharmaceuticals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

75 pharmaceuticals companies
Measure Company Peer median Rank
Revenue growth Growth 11.7% 10.0% 33 of 74
Change in growth rate Growth +7.8pp -0.3pp 9 of 74
Gross margin Profitability 42.6% 59.8% 40 of 59
Operating margin Profitability 1.9% -5.9% 26 of 67
Net margin Profitability -42.4% -7.3% 58 of 75
Free-cash-flow margin Cash generation -5.4% 10.1% 49 of 74
Stock pay as % of revenue Cash generation 2.3% 3.6% 29 of 69
Long-term debt as % of assets Balance sheet 0.0% 23.8% 1 of 53
Change in share count Balance sheet 3.0% 1.5% 40 of 62
Days sales outstanding Balance sheet 50 days 72 days 14 of 59

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$14.8M
Institutions reporting
144
Shares held vs prior quarter
▼ 1.3%
Positions opened / closed
20 / 25

Top buyers and sellers, Q2 2026: 44 institutions bought and 44 sold ; the biggest buyer was Goldman Sachs Group Inc (+295K shares) and the biggest seller Citadel Advisors LLC (−252K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Goldman Sachs Group Inc $3.8M 1.4M 25.4% ▲ 27.9%
Tidal Investments LLC $3.5M 1.3M 23.8% ▲ 1.2%
Renaissance Technologies LLC $2.2M 785K 14.8% ▲ 3.5%
National Bank Of Canada $672,492 241K 4.5% ▼ 11.1%
Morgan Stanley $671,548 241K 4.5% ▼ 7.1%
UBS Group AG $495,395 178K 3.3% ▲ 16.6%
Advisorshares Investments LLC $477,397 171K 3.2% 0.0%
Sculptor Capital LP $289,323 104K 2.0% 0.0%
Citigroup Inc $276,184 99K 1.9% ▲ 127.9%
TD Asset Management Inc $263,522 95K 1.8% ▲ 6.4%
Mackenzie Financial Corp $249,340 63K 1.7% ▲ 8.7%
Two Sigma Investments, LP $206,990 74K 1.4% ▲ 50.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Aurora Cannabis Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

No trades in Aurora Cannabis Inc disclosed in the last 12 months; 2 earlier trades on record.

  • John A. Yarmuth(D-KY 3):Purchase, $1,001 - $15,000, traded February 12, 2021, filed February 19, 2021
  • John A. Yarmuth(D-KY 3):Purchase, $1,001 - $15,000, traded November 5, 2020, filed November 15, 2020

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Aurora Cannabis Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Aurora Cannabis Inc in brief

What does Aurora Cannabis Inc do?
Aurora Cannabis Inc is a US-listed company in the pharmaceuticals industry. Its financial year ends in March.
What is Aurora Cannabis Inc's stock ticker?
Aurora Cannabis Inc trades under the ticker ACB on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Aurora Cannabis Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Aurora Cannabis Inc reported revenue of $232M, 11.7% higher than a year earlier, according to its SEC filings.
What is Aurora Cannabis Inc's free cash flow?
Aurora Cannabis Inc's free-cash-flow margin is -5.4% of revenue over the trailing twelve months, ranking 49 of the 74 pharmaceuticals companies we cover.
Who are Aurora Cannabis Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Goldman Sachs Group Inc, Tidal Investments LLC and Renaissance Technologies LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
How much debt does Aurora Cannabis Inc have?
Aurora Cannabis Inc's debt-to-equity ratio is 0.0%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Aurora Cannabis Inc's competitors?
In our Pharmaceuticals peer group, the companies closest to Aurora Cannabis Inc are Vanda Pharmaceuticals Inc., Harrow, Inc., Organigram Global Inc., Biote Corp. and Kamada LTD. The side-by-side comparison below sets their revenue, margins and growth against Aurora Cannabis Inc's.
When is Aurora Cannabis Inc's next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Aurora Cannabis Inc announces its own schedule.