Core Insights - Aurora Cannabis reported a first-quarter fiscal 2026 loss per share of 26 cents, missing the Zacks Consensus Estimate of 18 cents per share and reversing a profit from the prior year [1][7] - The company's total net revenues reached $98 million, reflecting a year-over-year increase of 17.5% and surpassing the Zacks Consensus Estimate by 38.3% [3][7] Revenue Performance - The revenue growth was primarily driven by strong international medical cannabis sales, particularly in Australia, Germany, Poland, and the UK, alongside increased revenues in Canada [4][8] - The Global Medical Cannabis segment generated $64.8 million in revenues, up 37% year over year, making it the strongest contributor to the company's revenue [5][8] - International Medical Cannabis revenues surged 84.7% year over year to $37.1 million, while Canadian Medical Cannabis revenues increased by 2.1% to $27.7 million [8][9] Segment Analysis - Consumer cannabis revenue declined by 32% year over year to $7.9 million, as the company prioritized high-margin medical cannabis over the lower-margin consumer segment [9] - The Plant Propagation segment, primarily from the Bevo business, contributed $23.9 million, up 3.8% from the previous year [10] Financial Metrics - Gross profit decreased by 34.9% year over year to $27.9 million, but the adjusted gross margin improved by 1000 basis points to 52% [11] - Total operating expenses rose by 9.7% year over year to $48.2 million, with significant increases in general and administration expenses [11][12] Financial Position - At the end of the first quarter, Aurora Cannabis had cash and cash equivalents of $140.2 million, slightly up from $137.9 million at the end of fiscal 2025 [13] - Net cash provided by operating activities increased to $10.1 million compared to $8.3 million a year ago [13] Future Guidance - The company anticipates consolidated net revenue growth in the fiscal second quarter of 2026, with Global Medical Cannabis revenue expected to increase by 8%-12% [14] - The Plant Propagation segment is expected to align with traditional seasonal trends, with a significant portion of annual revenue typically earned in the second half of the calendar year [14][15]