Aurora Cannabis Reports Record $12.8M EBITDA, Stock Rises 5.1% on Narrower Loss

Jun 20, 2024, 11:39 AM

Aurora Cannabis has announced its fiscal 2024 fourth-quarter results, reporting a record annual adjusted EBITDA of $12.8 million. The company's total net revenue for the quarter was $67.4 million, up from $64.0 million in the prior year period. Despite this increase, Aurora Cannabis fell short of the revenue target of C$69.5 million, leading to a stock drop. The net loss from continuing operations for the three months ended March 31, 2024, was $20.8 million, a significant improvement from the net loss of $76.2 million in the prior year period. The company's stock rose 5.1% in premarket trading due to the narrower loss. Aurora Cannabis saw growth in its medical cannabis segment, while its consumer segment declined materially.