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.
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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
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