Canadian cannabis firm Aurora sales surge, losses widen

Aurora Cannabis, an Edmonton, Alberta-based cannabis producer, reported fiscal third-quarter income of 75 million Canadian dollars ($56 million) – up greater than 365% from a yr in the past.

The firm’s internet loss grew to CA$158.three million – up from $19.2 million within the year-ago quarter.

The increase in sales was fueled by progress throughout its key markets, the corporate stated in a information launch.

Revenue attributable to Canada’s adult-use market grew 37% from the earlier quarter to $29.6 million. Medical cannabis sales grew to $29 million, up 12% from the earlier quarter.

The surging pink ink displays the corporate’s obligation to revalue the convertible debt it carries on its stability sheet, leading to losses of CA$101.5 million.

Aurora trades on the New York Stock Exchange beneath the ticker image ACB.

For extra evaluation and in-depth seems on the funding developments and offers driving the cannabis business ahead, enroll for our premium subscription service, Investor Intelligence.

Categories: Canadian Medical Marijuana & Cannabis Industry News, Cannabis Industry & Marijuana Business Briefs, International Marijuana Business News, Marijuana Stocks & Publicly Traded Cannabis Companies, United States Cannabis Industry & Marijuana Business News



Reference

Be the first to comment

Leave a Reply

Your email address will not be published.


*