Aurora Cannabis reports Q2 adjusted EBITDA C$3.4M vs. (C$6.2M) last year

Reports Q2 revenue C$63.4M vs. C$48.6M last year. “This is our strongest fiscal year to date, led by robust net revenue1 growth in our high-margin medical cannabis segment, coupled with positive adjusted EBITDA for the fourth consecutive quarter. We are experiencing the benefits of diversification across our cannabis and non-cannabis platforms characterized by stability in Canada, record revenue in Europe and Australia, and early success with our most recent acquisition, Bevo Farms. We are also proceeding with capturing $40 million in annualized cost efficiencies during fiscal 2024, in addition to the approximate $400 million savings we delivered over the last three years. By executing on our plan to deliver top-line growth and increased profitability, we are moving closer to reaching our target of positive free cash flow in calendar year 2024. Our balance sheet is in a strong net cash position to pursue profitable growth opportunities through M&A, and we will repay the remainder of our US$5.3million of convertible senior notes in February 2024. The combination of industry leading margins, a strong balance sheet and a proven track record of execution, point to Aurora’s best days laying squarely ahead.”,” stated Miguel Martin, Chief Executive Officer of Aurora.