Aurora revenues topped C$100m last quarter, up over 5X year-on-year

Canada-headquartered Aurora Cannabis Inc has announced some selected financial metrics regarding its fiscal fourth quarter – the three months to end of June.

Although full results won’t be known until September 15, Aurora has announced that based on a preliminary (unaudited) review, net revenues for the quarter will sit between C$100 million and C$107 million (net of excise taxes).

That’s more than five times the C$19.1 million revenues the company turned over in the period ended June 30, 2018.

It’s also significantly larger than the C$65.1 million in net revenues Aurora posted in the previous quarter (ended March 31, 2019).

Aurora’s fiscal Q4 2019 net cannabis revenue is expected to be between C$90 million and C$95 million, with growth anticipated across all key business segments including medical, both Canadian and international, and consumer markets.

“We set out to be best-in-class cultivators, and through carefully evaluated acquisitions, that vision continues to drive exceptional results today.”

Terry Booth, Aurora (pictured)

Aurora anticipates total net revenues for the fiscal year ended June 30, 2019 to be between C$249 million and C$256 million.

The company expects to report that production available for sale for Q4 2019 will be at the upper end of the range between 25,000 kg and 30,000 kg, ahead of previous guidance of 25,000 kgs.

Aurora says that it continues to “track toward positive adjusted EBITDA”, and in particular adjusted EBITDA from cannabis operations.

Aurora now employs more than 2,500 employees across the globe.

“Our Q4 2019 guidance highlights Aurora’s continued leadership,” said Terry Booth, CEO of Aurora (pictured). “We set out to be best-in-class cultivators, and through carefully evaluated acquisitions, that vision continues to drive exceptional results today. We are the leader in cultivation capacity, production available for sale and revenues for cannabis in the Canadian medical and consumer markets.

“We continue to lead the build out of European and other international medical cannabis markets. Our success to date comes from a focus on quality, regulatory compliance, appropriate Board of Directors oversight, and delivering a profitable, low risk and sustainable business for our shareholders.”Cannabis Business Worldwide

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