AURORA CANNABIS INC
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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Sep 30, 2026 · Filed Nov 5, 2026
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Contents
EX-99.2 · Gross Margin
Gross Margin
| Three months ended | Six months ended | |||
|---|---|---|---|---|
| ($ thousands) | September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 |
| Revenue | 89,180 | 84,734 | 159,937 | 165,242 |
| Excise taxes | (3,159) | (5,925) | (6,362) | (12,357) |
| Net revenue (1) | 86,021 | 78,809 | 153,575 | 152,885 |
| Cost of sales | (42,117) | (42,210) | (80,479) | (77,437) |
| Gross profit before FV adjustments (1) | 43,904 | 36,599 | 73,096 | 75,448 |
| Gross margin before FV adjustments (2) | 51% | 46% | 48% | 49% |
| Loss on changes in fair value of inventory and biological assets sold | (34,454) | (38,610) | (66,726) | (70,047) |
| Gain on changes in fair value of biological assets | 28,098 | 33,155 | 66,800 | 59,271 |
| Gross profit | 37,548 | 31,144 | 73,170 | 64,672 |
| Gross margin (2) | 44% | 40% | 48% | 42% |
(2)Gross margin and gross margin before FV adjustments, respectively, are calculated as gross profit and gross profit before FV adjustments, respectively, divided by net revenue.
Gross margin before fair value adjustments was 51% for thethree months ended September 30, 2026 compared to 46% for the three months ended September 30, 2025. The increase was due to a favourable shift in product sales mix, driven by increased sales through higher-margin channels.
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