Aurora Cannabis

Leadership under CEO Miguel Martin has executed the medical pivot and restored positive adjusted EBITDA, while CFO Simona King communicates a pathway to cash generation. That said, material weaknesses in internal controls flagged in FY2025 and continued dependence on non‑GAAP adjustments weigh on our assessment.

Execution quality looks improved versus 2020–2022, but trust must be rebuilt with sustained clean audits, consistent FCF and limited dilution.