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Aurora announces Q1 2022 results; revenue declines 11% to $60 million

Stockhouse Editorial
9 Comments| November 10, 2021

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Click to enlargeEdmonton AB-based Aurora Cannabis (ACB) (TSX.ACB) has announced its financial and operational results for the first quarter fiscal 2022 ended September 30th, 2021.
However, the ACB saw its net loss improve to 11.8 million Canadian dollars ($9.5 million) on growing sales of medical marijuana, according to the company.


Q1 2022 Financial Highlights:

  • Transformation plan on track; actions taken-to-date have driven over $33 million in annualized run-rate cost savings
  • Total cannabis net revenue, net of provisions, grew approximately 10% to $60.1 million compared to $54.8 million in Q4 2021
  • Adjusted EBITDA excluding restructuring costs improved by $4.0 million to a loss of $11.5 million versus Q4 2021; clear pathway to adjusted EBITDA profitability by H1/FY23
  • improved adjusted gross margin before FVA of 54% versus 53% in Q4 2021.

Full story here.


New to investing in Cannabis? Check out Stockhouse tips on How to Invest in Cannabis Stocks and some of our Top Cannabis Stocks.

For more of the latest info on Cannabis, check out the Cannabis Trending News hub on Stockhouse.


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