ACB Nasdaq Earnings call
Aurora Cannabis Inc. (ACB) · Q4 2026 results and valuation
Share price: $5.05 · 2026-11-11
Results Q4 2026 vs Q1 2026 · previous quarter · published 11 Jun 2026 and 6 Aug 2025
The language turned more cautious.
Only a basic analysis is available for this company at the moment.
1 · Numbers
—
No financial figures for this pair
Outlook given
2 · How management spoke
More cautious
Language tone vs last period
Language: typical — more cautious than in Q1 2026.
3 · What stood out
Figure
Adjusted gross margin rose to 64%.
Valuation
Is Aurora Cannabis Inc. undervalued?
Reverse DCF on net income from the last full fiscal year (no meaningful free cash flow: a bank, insurer or a year of negative cash flow) (2025-03-31), grown for 10 years, discounted back, plus a terminal value. “Implied growth” is the rate the current price assumes.
At −3.4% growth a year (3-year revenue growth), the model's fair value is $1.21 a share — the stock trades 316% above it. Today's price assumes 41.9% growth a year.
Current price
$5.05
close of 2026-11-11
Market implies growth of iThe yearly free-cash-flow growth, for the next 10 years, that today’s share price already assumes. If you believe the company grows faster than this, the stock is cheap under this model; slower, and it is expensive.
+41.9% for 10 yrs
Fair value / share
$1.21
Buy below
$0.91
Price vs fair value
Overvalued >200%
Price vs buy-below price
Overvalued >200%
Read between the lines
-
Guidance
In the fiscal fourth quarter, Aurora Cannabis took deliberate steps to sharpen that focus by initiating its exit from certain markets within the lower-margin Canadian consumer segment.
-
Guidance
Revenue guidance was revised because federal reimbursement rules changing April 1st will impact the top line.
Source quote
“With changes to the federal reimbursement program effective April 1st, we expect that this external regulatory change will both impact our top line and adjusted gross margins beginning...”
-
Fading
These costs are variable and rise with cannabis revenue, so they are expected to grow only when sales do.
Source quote
“And so when you see things like shipping and logistics, that's all connected to selling more cannabis and the variable... So the first part of it is there are variable costs when we increase revenue. The second part is around MRA.”
Tone
How upbeat the language was, compared with other companiesiTone counts positive minus negative finance words, adjusted for length. Executives mostly speak positively, so the labels compare each call with every company's latest call: “typical” is the middle third, “very upbeat” the top tenth, “cautious” the bottom tenth.. Dot: Q4 2026. Ring: Q1 2026.
Typical — more cautious than in Q1 2026.
Sentences that drove the tone
“Most of the compression we see is at the lower value segment.”
“These benefits will partially offset lower margins in Canadian medical following the reduction to the reimbursement rate.”
“Adjusted gross margin for medical cannabis held strong at 66%, and we did see a decrease from the prior year due to the sale of lower-margin products and strategic price...”
Topics
Most discussed now
- Risk factors that may affect actual results are detailed in Aurora Cannabis' annual information form and other periodic filings and…
Faded since Q1 2026
- Dropped Allows other products other than flower and oil, but you also have to be able to navigate a pretty sophisticated...
- Dropped Aurora Cannabis has in the U.K., in Germany, particularly with telemedicine and in Australia, it has created very, what I would describe…
- Dropped The combination of giving them access to that and the innovation around it as well as creating traditional trade program...
- Fading Net revenue rose 17% to $98 million, which included global medical cannabis revenue increasing 37%.