Aurora Cannabis Announces Fiscal 2022 First Quarter Earnings Results

Aurora Inc. (NASDAQ: ACB) (TSX: ACB), announced its financial and operational results late Tuesday for the first quarter of fiscal 2022, ended September 30, 2021.

First Quarter Highlights

Medical Cannabis:

  • Net revenue was $41.0 million, a 23% increase from the prior-year period. Adjusted gross margin before fair value adjustments on medical net revenue was 64% compared to 67% sequentially and 56% in the prior-year period.

"During the quarter, total cannabis net revenue increased by approximately 10% sequentially, driven by our industry-leading and high margin global medical cannabis business. Our premiumization strategy also gained traction, as evidenced by 29% sequential revenue growth in our premium dry flower brands of San Rafael '71 and Whistler, primarily driven by the launch of three new Coast cultivars," stated Miguel Martin, CEO of Aurora Cannabis in a press release.

Consumer Segment:

  • Net revenue was $19.1 million, relatively steady compared …

Full story available on Benzinga.com

More Aurora Cannabis Announces Fiscal 2022 First Quarter Earnings Results