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Aurora Cannabis Inc

Aurora’s revenue climbs 29% over last year in fiscal second quarter

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Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) announced its financial results for the fiscal 2025 second quarter. Total revenue rose year-over-year and the company has a positive outlook for the fiscal third quarter.

Aurora Cannabis reported a total revenue of $81.1 million, a 29% increase over last year’s $63.1 million in the same period. However, the revenue fell from the previous quarter’s $83.4 million. The growth was attributed to a 41% growth in the company’s global medical cannabis business and a 21% growth in the plant propagation business, slightly offset by lower quarterly revenue in our consumer cannabis business.

“Our strong quarterly results demonstrate Aurora’s leadership in global medical cannabis and ability to capitalize on opportunities within rapidly growing markets such as AustraliaGermanyPoland, and the UK. International revenue increased 93% to $35 million, exceeding Canadian Medical revenue for the first time, and contributing 57% to total global medical cannabis revenue. The Bevo plant propagation segment also grew a robust 21% during its seasonally lowest quarter, proving the efficacy of our diversified operating model,” said Chairman and Chief Executive Officer Miguel Martin.

Net income in the quarter was $1.7 million compared to net income of $0.4 million for the prior year. The increase in net income of $1.2 million was due to a decrease in other income of $8.4 million and a decrease in operating expenses of $0.7 million, offset by an increase in gross profit of $7.8 million.

Breaking down the revenue

The big winner for Aurora was a 41% increase in medical cannabis revenue of $61.3 million, contributing 76% of Aurora’s quarterly revenue. The increase was attributed to higher sales to AustraliaGermanyPoland, and the UK, and stabilized sales in Canada.

The consumer cannabis revenue fell by 13% to $10.4 million versus last year’s $12 million. The decrease was due to the company’s decision to prioritize the supply of its GMP-manufactured products to its high-margin international business rather than the consumer business, which offers lower margins.

Plant propagation revenue was mostly the Bevo business, which contributed $8.6 million of revenue, a 21% increase compared to $7.2 million in the prior year quarter. The company said the increase was the result of organic growth and increased product offerings, both arising from increased capacity.

Outlook

The company said in a statement, “In Q3 2025, we expect to see continued strong net revenue and adjusted gross margins across our global medical cannabis business, supported by net revenue1 growth in Europe and Australia. For plant propagation, we expect to see seasonally reduced net revenues and adjusted gross profit that will be in line with historical seasonal trends as 25% – 35% of revenues are normally earned in the second half of a calendar year.”

Aurora went on to say that it expects positive adjusted EBITDA to continue, while free cash flow is projected to be positive due to strong net revenue and continued spending discipline, resulting in strong adjusted gross margins.

“With two quarters remaining in the fiscal year, we are proud to have delivered record adjusted EBITDA and believe fiscal 2025 is anchored by our commitment to strategic growth, operational excellence, and the continued strength of our balance sheet,” Mr. Martin concluded.



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Aurora Cannabis Inc

Aurora Cannabis revenue beats expectations despite tapered loss

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Aurora ended the fiscal year with no debt on its cannabis business.

Aurora Cannabis (NASDAQ: ACB) posted fiscal year 2024 fourth-quarter results ending March 31 that surpassed analyst expectations for revenue, while also posting record adjusted EBITDA and narrowing its net loss.

The Edmonton-based company’s fourth-quarter revenue came in at $67.4 million, beating analyst expectations of $51.38 million and increasing 5% from $63.9 million in the same quarter last year.

Aurora reported a net loss from continuing operations of $20.8 million for the fourth quarter, a significant improvement from the $76.2 million loss in the same period last year. For the full fiscal year 2024, the net loss from continuing operations was $59 million, versus $183.2 million for the nine months ending March 31, 2023.

The company achieved record adjusted EBITDA of $12.8 million for the fiscal year, versus an adjusted EBITDA loss of $400,000 in the previous year. Total revenue for the year increased 21% to $270.3 million from $173.7 million in the previous nine-month fiscal period.

“We are incredibly pleased to be reporting our strongest fiscal year ever at Aurora,” CEO Miguel Martin said in a statement. “We also strengthened our balance sheet…and fully repaid our convertible debt.”

The company’s global medical cannabis net revenue grew 20% year-over-year in the fourth quarter to $45.6 million, driven by expansion in Australia and key European markets. Medical cannabis sales accounted for 68% of Aurora’s total fourth-quarter revenue, up from 59% in the same quarter last year.

Aurora ended the fiscal year with approximately $180 million in cash, down from $234.9 million at the end of the previous fiscal year, but with no debt on its cannabis business.

The company expects revenue to grow in the mid-to-high teens percentage range in fiscal Q1 2025, which ends June 30, versus 2024’s fourth quarter.

The company listed some growth drivers to achieve that:

  • Regulatory reforms in Germany expected to increase medical cannabis market size
  • Continued strength in key European markets
  • Incremental revenue from recently acquired MedReleaf Australia
  • Seasonally higher quarter for plant propagation segment due to peak spring floral sales

Other targets for 2025:

  • Consolidated adjusted gross margins: Projected to remain similar quarter-over-quarter
  • Adjusted EBITDA: Expected to be higher than the fourth quarter of 2024, driven by revenue growth and comparable margins
  • Operating cash flow: Anticipated improvement versus the fourth quarter of 2024
  • Free cash flow target: Maintaining goal of achieving positive free cash flow by end of calendar year 2024



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