Aurora Cannabis (TSX: ACB) (NYSE: ACB) reported third quarter earnings after the bell today, electing to only file select data in the news release before the scheduled conference call. The firm reported net revenues of $75.5 million for the quarter, while not publishing an earnings per share or net loss figure. Adjusted EBITDA for the quarter was reported as being -$50.9 million for the period.
Net revenue overall was recorded as being $78.4 million, before provisions of $2.9 million were taken into account. Cannabis revenue during the quarter was $69.6 million. Of those revenues, $41.5 million was associated with the recreational cannabis market, $27.0 million was in the medical market, while the international medical cannabis market netted $4.0 million in revenues for Aurora.
In terms of associated expenses to achieve these revenues, Aurora has claimed that it is on the path to a run-rate of $40 – $45 million per quarter for selling, general and administrative expenses, despite spending a total of $80.1 million during the quarter in this expense category. Further expenditure data has not as of yet been provided.
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In terms of Aurora’s cash position, the company reported $230.2 million as of March 31, an increase from December’s figure of $156.3 million. That increase was primarily driven by the company raising $206.4 million through its at-the-market offering and $22.0 million debt, which was partially offset by burning through $154.5 million during the quarter – which, unbelievably, was a significant quarter over quarter improvement.
Lastly, Aurora produced 36,207 kilograms of cannabis during the quarter, while only selling 12,729 kilograms.
Full financials have yet to be release by the company.
Aurora Cannabis last traded at $9.20 on the TSX.
Information for this briefing was found via Sedar and Aurora Cannabis. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
