viewAurora Cannabis Inc

Aurora Cannabis reports strong fiscal 2Q revenue guidance

The cannabis company now expects fiscal second-quarter revenue of between C$50 million and C$55 million, compared to C$11.7 million for the year-ago quarter

medical cannabis
Revenue growth is being driven by Aurora's secure position in Canada's adult-use cannabis market

Shares of Aurora Cannabis Inc (NYSE:ACB) (TSX:ACB) nudged slightly higher in Tuesday’s pre-market session after the Canadian cannabis giant announced that its fiscal second-quarter revenue is set to be fairly robust.

In a statement, the company said it expects revenue of C$50 million to C$55 million (net of excise taxes), compared to $11.7 million for the corresponding quarter in the prior year and $29.7 million for the fiscal first quarter ended September 30.

READ: Aurora Cannabis CEO slams cannabis rollout in Ontario and British Columbia

Revenue growth for the quarter was driven by the company’s strong position in Canada's adult-use cannabis market, continued shipments of medical cannabis to Aurora’s expanding base of about 71,000 patients in Canada, and relatively stable, supply restricted shipments to its growing international markets, the company noted.

“Going forward, we see sustained strong demand from the adult usage market, as evidenced by public statements from the Canadian provinces, as well as strong patient-driven demand for medical cannabis in Canada and abroad,” said Terry Booth, Aurora CEO in a statement. “These factors, together with our focus on disciplined management of operating expenses, and our growing portfolio of higher margin products, put us in a position to rapidly achieve positive EBITDA within the next two quarters."

READ: Aurora Cannabis shares light up as it enters Mexican market with exclusive supply deal

Aurora has lifted its production capacity to about 100,000 kg per year from 70,000 kg. The company still expects to report at least 150,000 kg per year of production capacity by its fiscal third quarter.

The introduction of higher-margin products, such as softgels, as well as the vape-ready CBD oil cartridge product Aurora Cloud, are also set to boost margins during fiscal 2019.

Aurora’s results for the second quarter will be put out on February 11 before the market opens.

Based in Edmonton, Canada, Aurora Cannabis is one of the world’s biggest cannabis companies and boasts operations in 22 countries.

Aurora shares jumped by 1.1% to $5.32 in New York before the opening bell on Tuesday.


Contact Ellen Kelleher at [email protected]

Quick facts: Aurora Cannabis Inc

Price: 13.35 CAD

Market: TSX
Market Cap: $1.5 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



District Metals continues to unlock potential with more strong historical...

District Metals (CVE: DMX) CEO Garrett Ainsworth continues to unlock the mysteries of their project called TomTebo. Ainsworth telling Proactive’s Steve Darling they have released more historical results, this time from the Gårdsgruvans zone. Ainsworth said the results are telling them these...

8 hours, 48 minutes ago

2 min read