Aurora Cannabis Reports Record Revenue Driven by International Medical Sales

LOS ANGELES- Aurora Cannabis Inc. has announced a significant increase in revenue for its fiscal third quarter, primarily due to substantial growth in international medical cannabis sales. The company’s total net revenue reached C$88.2 million, marking a 37% rise from the same period last year. Medical cannabis revenue accounted for C$68.1 million of this total, representing a 51% year-over-year increase.

International medical sales experienced a notable surge, more than doubling to C$40.9 million, and now constitute 60% of Aurora’s global medical cannabis revenue.

The company’s focus on pharmaceutical-style markets in Europe and the southern hemisphere has been a key factor in this growth. Aurora’s CEO, Miguel Martin, emphasized the advantages of these markets, stating, “These markets, because they’re pharmaceutical products, allow you to import medical cannabis like you would any other medication.”

Aurora has also delivered its first medical cannabis crop in Germany, introducing the Island Sweet Skunk sativa strain produced under its IndiMed brand. The company’s facility in Leuna, Germany, is one of only three licensed to cultivate cannabis in the country.

In addition to its international endeavors, Aurora has entered a strategic supply agreement with SNDL Inc., under which SNDL will supply Aurora with premium cannabis flower. The agreement is valued at approximately $27 million over three years and complements the existing relationship between the two companies.