Medical cannabis grows as U.S. reclassification nears

Aurora Cannabis reported record global medical revenue, up 12% year-over-year, and said it is shifting focus toward international medical markets as U.S. officials consider reclassifying cannabis for medical use.

Aurora Cannabis posted record revenue in its global medical cannabis segment and reported a 12% increase from a year earlier. The company said it will concentrate more on international medical markets and reduce exposure to some Canadian consumer cannabis operations. Executives noted rising global demand as governments review regulatory frameworks. U.S. officials have announced steps to pursue reclassification of cannabis for medical use. Key points: - Aurora reported a 12% year-over-year increase in global medical cannabis revenue. - The company operates in 12 countries and cites leadership positions in Canada, Germany, Poland, the U.K. and Australia. - Aurora plans to exit certain Canadian consumer cannabis markets in the fourth quarter of fiscal 2026 and to narrow its consumer operations. - The company said its cannabis business has no debt and holds more than $150 million in cash, and it has established an at-the-market share offering program. - The U.S. administration announced an order to pursue reclassification and has discussed moving cannabis from Schedule 1 to Schedule 3, but details and timing remain unclear. Summary: The reporting highlights growing global demand for medical cannabis and Aurora's strategic shift toward higher-margin international medical markets. Potential changes in U.S. federal classification could affect market access over time, while federal and state processes mean any change would be gradual. Undetermined at this time.