Major Canadian marijuana producer Aurora Cannabis reported a slight quarterly revenue increase during its first fiscal quarter, despite an adjusted EBITDA loss of 57.9 million Canadian dollars ($44.7 million) as the company worked through its transition plan. Net revenue was CA$67.8 million for the quarter ended Sept. 30. The company said it plans to achieve positive adjusted EBITDA in the second quarter. Aurora’s Canadian recreational cannabis revenue shrank by 3% on a quarterly basis to CA$34.3 million. Medical cannabis net revenue, including international medical marijuana income, increased 4% from the previous quarter to CA$33.5 million. Aurora attributed that growth to strong international medical growth and “consistent performance” in Canada’s medical marijuana market, where the company said it holds the first-place position in terms of net revenue.
Marijuana Business Daily, 11/09/2020 10:51:33