Aurora Cannabis reported a loss of 87 million Canadian dollars ($65 million) for the three months ended March 31, 2023, up slightly from the CA$67.2 million net loss reported in the previous quarter.
However, the Edmonton, Alberta-based company posted positive adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of CA$300,000 for the three months – Aurora’s second straight positive adjusted EBITDA.
ADVERTISEMENT
The cannabis producer’s net sales amounted to CA$64 million in the third quarter, increasing 4% sequentially from the previous quarter’s CA$61.7 million.
The revenue and adjusted EBITDA figures came in slightly below the consensus among analysts.
Aurora changed its year-end to March 31, so the fiscal year 2023 results comprise only three quarters.
In a conference call with analysts, CEO Miguel Martin said the consecutive positive adjusted EBITDA figures demonstrate that the company’s “business transformation plan” is working.
He said the company’s next financial
Read full article on Marijuana Business Daily