Core Insights - Aurora Cannabis Inc. will participate in the TD Cowen 46th Annual Health Care Conference on March 2, 2026, discussing its growth strategy and market opportunities [1] - The company has completed a transaction with Bevo Agtech Inc., enhancing its operational capabilities [1] Company Participation - Simona King, the Chief Financial Officer of Aurora, will engage in a fireside chat and one-on-one meetings with investors during the conference [1] - The discussion will cover Aurora's international leadership and the evolving global medical cannabis landscape [1] Market Position - Aurora is recognized as a global leader in medical cannabis, focusing on high-margin opportunities and a medical-first approach [1] - The company serves both medical and consumer markets across Canada, Europe, Australia, and New Zealand [1] Product and Brand Portfolio - Aurora's brand portfolio includes well-known names such as Aurora®, MedReleaf®, and Whistler Medical Marijuana Co.® [1] - The company operates GMP-certified manufacturing facilities in Canada and Germany, ensuring high-quality cannabis products [1]

Core Insights - Aurora Cannabis (ACB) reported strong third-quarter results for fiscal 2026, with adjusted EPS of 9 cents, up from 4 cents year-over-year, and sales increasing by 7% to approximately $68 million (~C$94 million) [1][10] Financial Performance - For the nine months of fiscal 2026, Aurora Cannabis achieved significant top-line growth, with medical cannabis sales rising about 20% year-over-year to C$211.5 million, representing nearly 75% of total revenues [3] - The adjusted EBITDA for the nine months ended September 2025 increased by 35% year-over-year to C$44.7 million, indicating strong operating leverage in the medical cannabis segment [6] Medical Cannabis Segment - The growth in the medical cannabis segment was driven by higher sales in international markets such as Australia, Germany, and Poland, as well as increased revenues from insurance-covered and self-paying patients in Canada [4] - Management expects annual global medical cannabis revenue to reach C$269-C$281 million in fiscal 2026, reflecting a year-over-year growth of 10-15% [8] Strategic Focus - Aurora Cannabis is reallocating resources towards its high-margin global medical cannabis business, prioritizing international markets for growth while exiting lower-return activities [7][11] - The company plans to exit select lower-margin consumer cannabis markets in Canada, which is expected to improve margins despite incurring near-term transition costs [12] Consumer Cannabis Business - The consumer cannabis segment is facing challenges due to price compression and intense competition in Canada's adult-use market, which has negatively impacted revenues and margins [9][10] - Management noted that the consumer segment incurs higher sales and marketing costs, prompting a strategic pullback to enhance overall gross margins [12] Competitive Landscape - Aurora Cannabis operates in a highly competitive market, contending with companies like Canopy Growth and Tilray Brands, which are also focusing on international expansion and cost efficiency [13] Stock Performance and Outlook - Despite improving fundamentals in the medical cannabis sector, Aurora Cannabis currently holds a Zacks Rank 4 (Sell), indicating it is not recommended for new investments [16][17] - The unchanged earnings estimates over the past 30 days suggest limited near-term upside potential for the stock [17]

INVESTOR PRESENTATION FY26 Q3 February 2026 Disclaimer CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information contained in this presentation constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this presentation that are not statements of historical fact may be deemed to be forward-looking statements. Forward looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "in ...

Core Insights - The publication reports significant improvements in pain-related outcomes, mental health measures, and quality of life among chronic pain patients using physician-authorized medical cannabis, as detailed in a study published in the Canadian Journal of Pain [1][6]. Study Overview - The study is a prospective, observational analysis evaluating patient-reported outcomes among chronic pain patients receiving medical cannabis under healthcare provider supervision, supported by multiple clinicians and medical institutions across Canada [2][3]. - The study was led by Dr. Hance Clarke at the University Health Network (UHN) and utilized the MyMedi.ca platform for data collection and patient support [1][8]. Study Results - Statistically significant improvements were observed in pain interference and pain intensity, as well as in anxiety, depressive symptoms, and overall quality of life over a 24-week follow-up period [5]. - Although the magnitude of change did not meet established minimal clinically important difference thresholds, the directional improvements align with existing literature on medical cannabis [5]. Scientific and Clinical Significance - The study represents a milestone for Avicanna, emphasizing the importance of high-quality, prospective real-world data in complementing randomized clinical trials and informing clinical practice [7]. - As regulatory frameworks evolve, physician-supervised models and rigorous data generation will be crucial for advancing cannabinoid-based medicines [7]. Ongoing Research and Development - The MCRWE study is ongoing, with continued patient recruitment across seven Canadian provinces, focusing on various outcomes associated with medical cannabis use [9]. - Avicanna is involved in providing the necessary infrastructure for large-scale real-world evidence research, ensuring that clinical decision-making and patient care remain unaffected [8]. Company Background - Avicanna is a biopharmaceutical company dedicated to the development and commercialization of cannabinoid-based products for medical and pharmaceutical markets, with over thirty proprietary products [11]. - The company has established a scientific platform that includes R&D and clinical development, supporting its commercial operations [11].

Core Insights - Trulieve Cannabis Corp. is opening a new medical cannabis dispensary in Fort Myers, Florida, with a grand opening celebration scheduled for January 30, 2026 [1] - The company aims to provide affordable, high-quality medical cannabis and superior customer service to the Fort Myers community [2] Company Overview - Trulieve is a leading vertically integrated cannabis company and multi-state operator in the U.S., with significant market positions in Arizona, Florida, and Pennsylvania [5] - The company is focused on accelerated growth and expansion through a hub strategy, enhancing retail and distribution capabilities in both new and existing markets [5] Product Offering - The new dispensary will feature a wide variety of products, including Trulieve's in-house brands such as Alchemy, Co2lors, and Modern Flower, as well as exclusive partner brands like Alien Labs and Khalifa Kush [3] - Trulieve provides home delivery, online ordering, and in-store pickup services across Florida, with special discounts for veterans and first-time customers [4]

Core Insights - Village Farms International, Inc. has been awarded the 2026 BC Export Award in the Consumer Products category, highlighting its significant export performance and contribution to British Columbia's international trade economy [1] Group 1: Export Performance - The company achieved a 758% year-over-year increase in export sales as of September 30, 2025, driven by disciplined, market-specific growth strategies and regulatory compliance expertise [2] - Village Farms operates a 4.8 million square foot production campus that is EU-GMP certified, allowing it to scale international exports to highly regulated markets [2] Group 2: Operational Excellence - The company's success in international markets is attributed to its commitment to rigorous operational standards and treating regulation as an opportunity for sustainable performance [3] - Village Farms is one of the largest single-site agricultural employers in British Columbia, supporting hundreds of jobs and maintaining a competitive export platform [3] Group 3: Market Strategy - The company has established strong demand for its products in large European markets, particularly Germany, where its cultivars rank among the top-performing medical cannabis strains [3] - Village Farms is expanding its export business to new countries and customers while making investments in international production assets [8] Group 4: Future Growth - The company owns 2.6 million square feet of greenhouse capacity in Canada for future expansion and is targeting legal cannabis opportunities internationally [6][8] - In the U.S., Village Farms plans to enter the THC market leveraging its existing greenhouse assets and land for future expansion [9]

Core Insights - Herbal Dispatch Inc. has successfully completed its first export of 298 kg of medical cannabis to the German market, facilitated through a new partnership with a EU-GMP licensed processor in Portugal, indicating strong revenue potential for 2026 and beyond [1][2][4] Company Summary - Herbal Dispatch operates a leading cannabis e-commerce and distribution platform, focusing on providing high-quality cannabis products to consumers in Canada [5] - The company aims to leverage its EU-GMP compliant processing in Portugal to supply the high-demand German medical cannabis market, which is the largest in the EU [4][3] Industry Summary - Germany's medical cannabis market is experiencing rapid growth, with record imports exceeding 140 tonnes in the first nine months of 2025, driven by increasing patient demand and a higher annual import quota of approximately 192.5 tonnes [2][3] - The strategic partnership with the Portuguese processor positions Herbal Dispatch to capitalize on the expanding market in Germany, offering significant long-term growth opportunities through recurring exports [3][4]

Core Viewpoint - Tilray Brands has shown some improvement in its financial performance, with a significant increase in international cannabis sales and a reduction in operating losses, but overall growth remains inconsistent and the company continues to face challenges in the cannabis market [1][2][4]. Financial Performance - The company reported a record revenue of $217.5 million for the second quarter of fiscal 2026, marking a 3% increase year over year [2]. - International medical cannabis sales surged by 36%, while beverage sales declined by 21% to $50.1 million [3]. - Operating loss was reduced to $22.3 million from $42.2 million a year ago, attributed to a decline in restructuring costs and amortization expenses [4]. Market Context - The cannabis industry remains volatile, with the potential for short-term gains driven by market excitement, but long-term investment prospects are uncertain [9][10]. - Recent regulatory changes, such as President Trump's executive order to reschedule marijuana, may facilitate research and reduce tax burdens, but do not significantly enhance growth prospects for companies like Tilray [7][8]. Growth Prospects - Despite some positive indicators, Tilray's growth has been inconsistent, often reliant on acquisitions for short-term boosts rather than sustainable organic growth [6]. - The lack of consistent growth and ongoing uncertainty in the cannabis market make Tilray a risky investment, appealing primarily to speculative investors [9][11].

Core Insights - Aurora Cannabis (ACB) is navigating a changing regulatory environment as the Trump administration considers reclassifying marijuana, which could have mixed financial implications across the industry [1] - Despite positive regulatory developments, ACB stock has declined over 5% in the past month, indicating that investors are focusing more on company-specific fundamentals than on broader sector trends [1] Company Fundamentals - Aurora Cannabis is primarily growing through its medical cannabis segment, which accounted for 72% of total revenues, with medical cannabis revenues increasing nearly 25% year over year to C$135.3 million for the six months ending March 2026 [3][4][11] - The growth in medical cannabis sales was driven by international markets such as Australia, Germany, Poland, and the UK, as well as increased revenues from insurance-covered and self-paying patients in Canada [4] - Adjusted EBITDA rose 92% year over year to C$26.2 million for the six months ended September 2025, reflecting the operating leverage in Aurora's medical-focused model [6][11] - Aurora anticipates continued growth in international medical cannabis sales in the fiscal third quarter, supported by new product launches and market expansion initiatives, and expects to generate positive cash flow during the quarter [7] Consumer Cannabis Segment - The consumer cannabis business is under pressure due to persistent price compression and intense competition in Canada's adult-use market, which has negatively impacted revenues and margins [8] - In response, Aurora is scaling back its low-margin recreational products and focusing on higher-value opportunities, particularly GMP-certified medical cannabis, which offers better margins and earnings visibility [9][10] - This strategic shift emphasizes profitability over volume, aiming to stabilize earnings and reduce reliance on the challenging recreational market [10] Competitive Landscape - Aurora operates in a competitive market with limited growth opportunities, facing competition from peers like Canopy Growth (CGC) and Tilray Brands (TLRY), both of which are also pursuing international expansion and cost efficiency [12] - As Aurora expands in regulated medical cannabis markets, competitive responses from CGC and TLRY are expected to intensify, potentially leading to aggressive moves and further consolidation in the sector [13] Stock Performance & Valuation - ACB stock has outperformed the industry over the past year, although loss per share estimates for fiscal 2026 remain unchanged at 80 cents, while estimates for 2027 have widened from 13 cents to 26 cents [14][16] - The mixed valuation signals and the widening loss estimates suggest a cautious outlook from analysts regarding the sustainability of earnings momentum beyond the near term [18] - Investors may consider holding off on initiating or adding to positions until Aurora reports its fiscal fourth-quarter results, maintaining a cautious approach towards this Zacks Rank 3 (Hold) stock [18]

Core Viewpoint - The potential rescheduling of marijuana under the Controlled Substances Act in the U.S. could enhance legal clarity for patients traveling from Colombia with prescribed medical cannabis and may impact international trade and policy for compliant pharmaceutical suppliers [1]. Group 1: Legal Implications - The ongoing U.S. federal process to reschedule marijuana may lead to improved legal clarity for medical cannabis patients [1]. - Changes in the legal status of marijuana could affect the compliance requirements for pharmaceutical suppliers operating in the medical cannabis sector [1]. Group 2: International Trade - The rescheduling of marijuana could have significant implications for international trade, particularly for countries like Colombia that are involved in the medical cannabis industry [1]. - Colombian medical cannabis operators, such as Sannabis S.A.S., may benefit from clearer regulations that facilitate cross-border transactions [1].