Aurora Cannabis reports Q3 net loss (CAD158.4M) vs. loss (CAD19.2M) last year
Reports Q3 net revenue CAD65.1M vs. CAD16.1M last year. Reports Q3: Gross margin 55% vs. 59% last year, Active registered patients 77.1K vs. 45.8K last year, Cannabis kilograms sold 9.2K vs. 1.4K last year. Active net selling price CAD6.40 vs. CAD7.99 last year. The company states: "With production ramping up, the company continues to scale up manufacturing capacity, with innovation and technologies aimed at reducing time from harvest to market. The company anticipates that increased processing, packaging and delivery efficiencies in Q4 and beyond will accelerate availability of product. Supply to Europe and other international markets is expected to increase as more of Aurora's production facilities receive EU GMP certification. The Bradford facility has recently undergone an audit to obtain EU GMP certification. In Q3, the company began exports of full spectrum cannabis extracts in Germany. Management anticipates these sales will contribute to growth given the higher margins in extracts."