Edmonton, Alberta-based Aurora Cannabis posted positive adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) worth 1.4 million Canadian dollars ($1 million) in its second fiscal quarter of the year, the company announced late Thursday.
The positive adjusted EBITDA, a non-GAAP financial measure, was in line with Aurora’s prior guidance.
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The company’s net loss for the October-December quarter amounted to CA$67.2 million, an improvement over the previous year’s quarterly loss but up from the previous quarter’s loss of CA$51.9 million.
Aurora’s sales in the quarter were CA$61.7 million, a small improvement over the comparable quarter the previous year.
The sales momentum, albeit small, stands out in comparison to rivals such as Canopy Growth, whose sales dropped 28% in the October-December 2022 quarter, compared to one year earlier.
On a conference call with analysts, CEO Miguel Martin said Aurora’s newest milestone is achieving positive cash flow, which
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