News

Red or black: A roundup of cannabis financial news

Published on June 19, 2026 by Pat Bulmer

Photo: Contributed/Nextleaf

Cannabis financial news: Insured patients boost for Aurora medical; Nextleaf announces loss; Herbal Dispatch direction paying off

Medical cannabis working for Aurora

Aurora Cannabis says its moves to emphasize the global medical cannabis market have been validated by the latest financial numbers.

A year-end financial report shows the company posted a record net revenue of $288.6 million — an 18% increase over the previous year.

“During fiscal year 2026, we exceeded our projection for global medical cannabis net revenue^, led by double-digit growth in Europe and delivered on our expectation for adjusted EBITDA ^{(earnings before interest, taxes, depreciation and amortization)}  with both at record outcomes,” CEO Miguel Martin said in a news release. “Our performance validates Aurora’s global medical cannabis strategy, which has positioned us as a leading provider in Canada, Europe, Australia, and New Zealand.”

For the final quarter of the 2026 fiscal year, net revenue was $84.8 million, up 10% from the last quarter of 2025. That was “mainly due to 14% growth in our global medical cannabis business and higher wholesale bulk cannabis net revenue, offset by lower quarterly net revenue in our consumer cannabis business,” the financial statement said.

Medical cannabis net revenue was $77.1 million, “primarily due to higher sales in Germany, related to increased market size, and growth in Poland, along with higher revenue in Canada to insured patients related to broader portfolio offerings.”

Aurora’s consumer cannabis net revenue was $3.6 million, compared to $8.2 million in the prior-year period. “The decrease was due to our strategic shift to focus on Canadian and international medical cannabis and wind down our consumer business,” the Edmonton-based company said.

Net loss from continuing operations for the three months ending March 31 was $27.6 million compared to a net loss of $12.1 million in the previous year’s quarter.

In February, Aurora gave up control of Langley, BC-based Bevo Agtech. In April, the company acquired Fort Erie, Ontario’s Safari Flower Co. “The acquisition of Safari provides the company with a 59,000 square foot EU-GMP (Good Manufacturing Practice) certified indoor cultivation and manufacturing facility,” the release said.

Looking ahead, “over the next few quarters, we are purposely investing in our international business … to support growth in our most profitable markets. These efforts are expected to help offset the impact of margin reductions in our Canadian medical business, following the reduction in government reimbursed pricing, effective April 1.”

Aurora also made donations to a number of veteran organizations.

Five per cent of net profits from Aurora’s Strains for Heroes medical cannabis line are donated annually to veteran-focused organizations, up to $200,000 a year, a different news release explained.

The latest financial gifts went to the Veteran Association Food Bank; the Capt. Nichola Goddard Fund, which helps servicewomen, female veterans and their families access critical services; and mental health organizations Sach in Motion and Sea to Sea for PTSD.

Red ink temporary for Nextleaf

Bringing a new processing facility online helped generate red ink for BC-based Nextleaf Solutions.

The company announced a net loss of $646,000 for the financial quarter ending March 31, “reflecting deliberate investment in commercial infrastructure and platform readiness ahead of anticipated FY (fiscal year) 2026 revenue contribution,” the second-quarter financial report said.

In April, Nextleaf announced it had received a Health Canada micro-processing licence for a second location in Coquitlam. The 2,500 square-foot facility, located near the company’s primary site, is expected to support packaging, distribution and select manufacturing functions, the company said at the time.

In the latest financial report, Nextleaf reported its first international sales to Australia and expanded Canadian listings for brands such as Glacial Gold and High Plains Cannabis.

“The quarter reflects deliberate investment in commercial infrastructure, including a national sales agency, qualified export ready platform, and a second licensed processing site, amidst a backdrop of industry-wide pricing compression,” the report said.

Some numbers:

— Gross profit was $914,536, on net revenue of $2,406,388

— Adjusted EBITDA was $107,129 for the six months ended March 31.
— Excise duties of $931,921 were paid to the Canada Revenue Agency, representing 28% of gross revenue.

For the rest of the year, the company is focused on operations at its second location, new export strategies, “bulk ingredients,” a new sales team and expanding listings for High Plains Cannabis.

New focus working for Herbal Dispatch

Recent changes in priorities at BC-based Herbal Dispatch are paying off, the company declared in a quarterly financial report.

“During the first quarter of 2026, Herbal Dispatch continued positioning its business toward higher-value, more scalable growth opportunities,” the report said. “The company increased its focus on proprietary brands, insured medical patients, veterans, and international exports while reducing its reliance on lower-margin activities.

“While the quarter reflected the operational and financial impacts associated with this transition, many of these initiatives are already beginning to generate meaningful results.”

The company is focusing its medical business on veterans and insured customers.

“Direct-to-consumer medical revenue increased approximately 98% year-over-year, reflecting growing adoption of Herbal Dispatch’s insurance-focused service model and expanding veteran patient base,” the report said.

Direct-to-consumer medical revenue increased year-over-year, from $383,912 in first quarter of 2025 to $761,375 in Q1 2026.

“The company is currently onboarding approximately 50 new insured patients per month,” the report said.

“The company also continued investing in its portfolio of proprietary brands … Herbal Dispatch now operates a portfolio of five proprietary cannabis brands comprising more than 40 SKUs (products) … including flower, pre-rolls, edibles, vapes and concentrates.”

And exports are booming: “Since the beginning of 2026, the company has completed international shipments totaling approximately 1,321 kilograms of medical cannabis,” the report said.

Following the report, the company announced another shipment of 452 kilograms of medical cannabis to Germany.

“The first quarter was fundamentally about repositioning the business for where we see the greatest long-term opportunities,” said CEO Philip Campbell. “While transitions of this nature can temporarily impact financial performance, we are already beginning to see the benefits emerge.”

Following release of the financial report, Herbal Dispatch announced Jason Spatafora had been brought on as a strategic adviser.

“Spatafora, widely known within the cannabis investment community … brings extensive experience in cannabis sector analysis, capital markets, corporate strategy, and public company advisory services,” a news release said.