Aurora Gives Revenue Update For Fourth Quarter, Fiscal Year

Aurora Cannabis Inc.  (NYSE | TSX: ACB) gave an update on selected financial metrics for the fourth quarter of the company’s fiscal 2019 period ending June 30, 2019. While the information is selectively limited, Aurora said it feels it is being transparent by releasing the data and that the full results will be published prior to September 15, 2019. The company did not report any expense figures or any data relating to net profits or losses. The stock seemed to get a boost as the price was lifted by 5% in premarket trading.

Fourth Quarter

Based on a preliminary and unaudited review, Aurora said that it expects net revenues for the quarter to range between $100 million and $107 million (net of excise taxes) versus last year’s $19.1 million for the same time period. Sequentially, it is an increase over the $65.1 million reported for the quarter ending in March.  The company said that the fiscal Q4 2019 net cannabis revenue is expected to be between $90 million and $95 million, with growth anticipated across all key business segments including medical, both Canadian and international, and consumer markets.

Full Year

Aurora also said that it is forecasting that the total net revenues for the fiscal year ending June 30, 2019 should be in the range of $249 million – $256 million. The company also said that it expects to report that products available for sale for the fourth quarter will be at the upper end of the range between 25,000 kg and 30,000 kg, ahead of previous guidance of 25,000 kgs.

“Our Q4 2019 guidance highlights Aurora’s continued leadership,” said Terry Booth, CEO of Aurora. “We set out to be best-in-class cultivators, and through carefully evaluated acquisitions, that vision continues to drive exceptional results today. We are the leader in cultivation capacity, production available for sale and revenues for cannabis in the Canadian medical and consumer markets. We continue to lead the build-out of European and other international medical cannabis markets. Our success to date comes from a focus on quality, regulatory compliance, appropriate Board of Directors oversight, and delivering a profitable, low risk and sustainable business for our shareholders.”

Debra Borchardt

Debra BorchardtDebra Borchardt

Debra Borchardt is the CEO, Co-Founder, and Editor-In-Chief of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Masters degree in Business Journalism from New York University.


Leave a Reply

Your email address will not be published. Required fields are marked *


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Newsletter


Company


Back to Top

You have Successfully Subscribed!