Why Should Investors Keep An Eye On Aurora Cannabis Stock Despite A Weak Quarter?

Aurora Cannabis Inc. (NASDAQ: ACB) reported financial and operational results late Thursday for the third quarter of fiscal 2022 ended March 31, 2022.

For the quarter, the giant disclosed total cannabis net revenue of $50.4 million, down 17% sequentially. 

Adjusted gross margin before fair value adjustments on cannabis net revenue was 54% in Q3 2022 versus 53% in the prior quarter and 44% in Q3 2021. The increase in adjusted gross margin compared to the prior-year period is due to increased sales in the company’s international medical markets which command significantly higher average net selling prices and margins.

Adjusted EBITDA loss declined to $12.3 million in Q3 2022 versus $9.0 million in Q2 2022 but narrowed from $20.9 million in the …

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