Aurora Cannabis reports Q1 net loss of $51.9M as consumer pot net revenues fall 28%
Advertisement
Read this article for free:
or
Already have an account? Log in here »
We need your support!
Local journalism needs your support!
As we navigate through unprecedented times, our journalists are working harder than ever to bring you the latest local updates to keep you safe and informed.
Now, more than ever, we need your support.
Starting at $14.99 plus taxes every four weeks you can access your Brandon Sun online and full access to all content as it appears on our website.
Subscribe Nowor call circulation directly at (204) 727-0527.
Your pledge helps to ensure we provide the news that matters most to your community!
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 09/11/2022 (679 days ago), so information in it may no longer be current.
EDMONTON – Aurora Cannabis Inc. recorded a $51.9 million net loss in its most recent quarter as its consumer pot net revenue fell 28 per cent from a year ago.
The Edmonton cannabis company says its first-quarter performance compared with a net loss of $11.9 million for the same period in the prior year.
Its adjusted earnings before interest, taxes, depreciation and amortization for the period ended Sept. 30 totalled $8.7 million compared with $11 million a year ago.
The company says its consumer cannabis net revenue amounted to $13.7 million, up from $12.6 million in its prior quarter, but down from $19.1 million in the first quarter of last year.
Aurora attributed the increase in net revenue to the quarter encompassing earnings from Thrive, a premium pot company it bought in March.
However, it said the Thrive earnings were partially offset by supply and ordering disruptions from a cyberattack at the Ontario Cannabis Store and store closures due to an employee strike at BC Cannabis Stores.
This report by The Canadian Press was first published Nov. 10, 2022.
Companies in this story: (TSX:ACB)