Aurora Cannabis Q2 Financial Results Show No Reduction In Net Loss

Aurora Cannabis Inc. (ACB), announced its financial and operational results for the second quarter fiscal 2022 ended December 31, 2021 on Thursday, February 10th, 2022, as follows:

Q2 Financial Highlights

(Unless otherwise stated, comparisons are made between fiscal Q2 2022 and Q1 2022 results and are in Canadian dollars)

• Net Revenue: increased 0.8%
  • Medical: increased 11.6%
  • Consumer: decreased 22.4%
• Adj. EBITDA: improved by 25.3%
• Net Profit (Loss): unchanged at $(75.1)M
• SG&A (incl. R&D): reduced by 9.8%
• Cash on Hand: decreased 14.3%

Operational Highlights

• Kilograms Sold: increased 4.5%
• Ave. Net Selling Price: decreased 10.1%

Forward Guidance

• The company
  • reaffirmed its goal of Adjusted EBITDA profitability by H1/2023
  • expects to realize the upper end of $60M-$80M in cost savings by H1/2023

Stock Performance

Canopy's stock price increased today but still remains down -14.2% YTD and still remains down -75.6% from its 2021 high.