September 20th, 2019

Aurora Cannabis misses own guidance with weaker revenues in fourth quarter


By The Canadian Press on September 11, 2019.

Cannabis seedlings at the new Aurora Cannabis facility Friday, November 24, 2017 in Montreal.THE CANADIAN PRESS/Ryan Remiorz

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).

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