Here is what a good 📈earnings report can do.
ACB currently up 8.38%
anadian medical marijuana giant Aurora Cannabis Inc. (NASDAQ:ACB) (TSX:ACB) reported its financial and operational results Wednesday for the first quarter of fiscal 2025, revealing revenue of CA$83.44 million ($60.72 million) compared to CA$74.73 million in the same period of fiscal 2024. Aurora attributes the 12% increase from the prior period to 13% growth in its global medical cannabis business and 16% growth in its plant propagation business, slightly offset by lower quarterly revenue in its consumer cannabis.
“This was a milestone quarter for Aurora, as we delivered strong net revenue growth, a substantial increase in adjusted EBITDA, and positive free cash flow," stated CEO Miguel Martin. "Our impressive performance was driven by record net revenue in the rapidly growing global medical cannabis segment, and we look forward to building on our achievements in key markets such as Germany, Australia, and the UK throughout fiscal 2025 and beyond. The quarter was further supported by a record contribution from our Bevo plant propagation business, underscoring the strength of our diversified business model.”