September 23rd, 2019

Aurora Cannabis misses own guidance with weaker revenues in fourth quarter

By The Canadian Press on September 11, 2019.

FILE - In this Aug. 15, 2019, file photo, marijuana grows at an indoor cannabis farm in Gardena, Calif. (AP Photo/Richard Vogel, File)

EDMONTON – Aurora Cannabis Inc. missed its own early guidance as it lost $2.2 million in the fourth quarter on $98.9 million in net revenues.

Revenues increased from $19.1 million a year ago and were up 52 per cent from $65.1 million in the prior quarter.

However, the Edmonton-based cannabis producer last month said its revenue from all sources would rise to between $100 million and $107 million.

It also failed to achieve a positive adjusted EBITDA, with a loss before interest, taxes and depreciation of $11.7 million, an improvement from a loss of $36.6 million in the third quarter.

For the full year, the company says its net loss was $297.9 million on $247.9 million in net revenues. That compared with a profit of $69.2 million on $55.2 million a year earlier.

Its full-year adjusted EBITDA loss was $156 million, worse than the $54.2-million loss in the fourth quarter of 2018.

Companies in this story: (TSX:ACB).

Share this story:

Leave a Reply

You must be logged in to post a comment.