AURORA CANNABIS Business Summary

Aurora Cannabis Inc. (ACB) operates a diversified cannabis production and distribution model, primarily generating revenue through high-margin medical cannabis sales, adult-use consumer products, and plant propagation. As of February 2026, the company has executed a definitive strategic pivot toward the global medical market, which now accounts for approximately 81% of total net revenue, driven by record international sales in Germany, Poland, and Australia. The company utilizes a pharmaceutical-grade production strategy anchored by EU-GMP certified facilities to command premium pricing in regulated markets. To optimize its balance sheet, Aurora is currently divesting its controlling interest in Bevo Farms (plant propagation) and exiting lower-margin Canadian recreational segments to focus on its core medical business. Direct competitors include Tilray Brands, Canopy Growth, Cronos Group, and Organigram; Aurora distinguishes itself by maintaining a debt-free cannabis business and holding a dominant leadership position in the international medical export sector relative to its peers. Originally founded in 2006 by Terry Booth, Steve Dobler, Chris Mayerson, and Dale Lesack, the company is currently led by Miguel Martin, who serves as both Chief Executive Officer and Executive Chairman. Martin, who joined in 2020, has overseen the firm's financial transformation and strategic shift toward medical profitability. The leadership team was further strengthened in February 2024 with the appointment of CFO Simona King, a former Bristol Myers-Squibb executive with over 25 years of pharmaceutical finance experience. Other key executives include Alex Miller (EVP of Operations & Supply Chain) and Nathalie Clark (EVP, General Counsel). The Board of Directors, chaired by Martin, includes Lead Independent Director Michael Singer and notable members such as Rajesh Uttamchandani and Norma Beauchamp. Institutional backing is provided by major investors including Mirae Asset Global Investments, Tidal Investments, and Two Sigma Investments.