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Aurora Cannabis misses own guidance with weaker revenues in fourth quarter

Cannabis seedlings at the new Aurora Cannabis facility Friday, November 24, 2017 in Montreal.THE CANADIAN PRESS/Ryan Remiorz

EDMONTON — Aurora Cannabis Inc. missed its own early guidance as it lost $2.2 million in the fourth quarter on $98.9 million in net revenues.

Revenues increased from $19.1 million a year ago and were up 52 per cent from $65.1 million in the prior quarter.

However, the Edmonton-based cannabis producer last month said its revenue from all sources would rise to between $100 million and $107 million.

It also failed to achieve a positive adjusted EBITDA, with a loss before interest, taxes and depreciation of $11.7 million, an improvement from a loss of $36.6 million in the third quarter.

For the full year, the company says its net loss was $297.9 million on $247.9 million in net revenues. That compared with a profit of $69.2 million on $55.2 million a year earlier.

Its full-year adjusted EBITDA loss was $156 million, worse than the $54.2-million loss in the fourth quarter of 2018.

 

Companies in this story: (TSX:ACB).

The Canadian Press

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