Canada-based global medical cannabis company Aurora Cannabis Inc ( ACB ) reported a third-quarter fiscal 2025 net revenue of CA$88.2 million, compared to CA$64.4 million a year ago.

The 37% increase from the prior period was mainly due to 51% growth in the global medical cannabis business and 22% in the plant propagation business, slightly offset by lower quarterly revenue in the consumer cannabis business.

Consolidated adjusted gross margin was 65% in the third quarter and 53% in the prior-year quarter. Adjusted gross profit was CA$56.0 million in the third quarter vs. CA$33.6 million in the prior year quarter, an increase of 67%.

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Medical cannabis net revenue was CA$68.1 million, a 51% increase from the prior-year quarter, driven by CA$23.1 million was primarily due to higher sales to Australia, Germany, Poland and the UK, as well as increased revenue in Canada to insurance covered and self-paying patients.

The adjusted gross margin reached 74%, compared to 63% in the prior year quarter, through sustainable cost reductions, higher selling prices, and improved efficiency in production operations, including sourcing for Europe from Canada.

Aurora’s consumer cannabis net revenue was CA$9.9 million, a 15% decrease compared to $11.6 million in the prior year quarter, mainly due to the decision to prioritize the supply of GMP manufactured products to high-margin global medical cannabis business rather than the consumer business, which offers lower margins.

Plant propagation net revenue contributed $8.9 million, a 22% increase compared to $7.3 million a year ago, due to organic growth and expanded product offerings arising from increased capacity.

Adjusted EBITDA increased 316% to CA$23.1 million compared to CA$5.5 million a year ago.

“This quarter was record-breaking for Aurora, driven by all-time highs in global medical net revenue, net income, adjusted EBITDA, and free cash flow,” said Miguel Martin, executive chairman and CEO for Aurora Cannabis ( ACB ).

Fiscal Q4 2025 Expectations:

Revenue is expected to grow, driven by international medical cannabis sales.

Seasonal increase in plant propagation revenue, following usual trends.

Strong profit margins and continued positive adjusted EBITDA.

Lower operating cash use due to disciplined spending and revenue growth.

Free cash flow should be slightly positive as cash use improves.

Price Action: ACB stock is up 31.3% at $4.83 during the premarket session at last check Wednesday.

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