Aurora Cannabis Inc. (ACB), announced its financial and operational results for the fourth quarter fiscal 2022 ended June 30, 2022, on Tuesday, September 20th, 2022, as follows:

Q4 Financial Highlights

(Unless otherwise stated, comparisons are made between fiscal Q3 2022 and Q4 2022 results and are in Canadian dollars)

• Net Revenue: declined 0.4% to $50.2M
  • Medical: declined 7.1% to $36.6M
  • Consumer: increased 22.3% to $12.6M
• Adj. Gross Margin: declined to 47% from 54%
• Adj. EBITDA: loss increased by 4.9% to $(12.9)M
• Net Profit (Loss): $(618.8)M
• SG&A Incl. R&D: increased by 24.5% to $49.3M
• Cash on Hand: increased by 1.7% to $488.8M

Q4 Operational Highlights

• Kilograms Sold: increased 35.1%
• Ave. Net Selling Price: declined 5.7%

Management Commentary

Miguel Martin, Chief Executive Officer, stated:

• “...We remain the #1 Canadian LP in global medical cannabis revenues and expect this high margin, high growth segment to be a key driver for future profitability.
• We continue to expect a positive adjusted EBITDA run rate by December 31, 2022.
• We remain on track with our previously announced cost saving targets of up to $170 million in annualized savings.
• Our strengthened balance sheet enabled an early repurchase of $155.3 million in convertible debt during Q4 2022, while providing us with the ability to pursue strategic and accretive acquisitions... 
• We are beginning to see signs of stabilization in our Canadian adult recreational segment and are excited about the contributions from the Thrive acquisition which continues to advance our premiumization strategy...

Stock Performance

Aurora's stock price declined 4.8% today (Tuesday) and is now DOWN 74.1% YTD and DOWN 92.6% from its February 2021 high.

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