Aurora Cannabis stock drops after earnings, as revenue misses revised targetPosted by On

Aurora Cannabis Inc. shares declined in the extended session Wednesday after the pot company missed revenue expectations even after dropping its forecast.

The Edmonton, Alberta-based Aurora

ACB, +3.34%

ACB, +3.15%

 announced a fiscal fourth-quarter net loss of C$2.26 million on net revenue of C$98.94 million, with an adjusted Ebitda loss of C$11.7 million ($8.9 million). In a separate filing, Aurora said that its net loss attributable to common shareholders was less than $200,000, and less than a penny a share.

Analysts surveyed by FactSet had estimated adjusted losses of C$0.06 a share on revenue of C$108 million. Last year in the same quarter, Aurora reported net income of C$79.9 million, or 17 cents a share, on net revenue of C$19.1 million. Aurora shares declined about 9% in after-hours trading following the results.

Earlier this year, Aurora executives had said the company was on track to achieve a sort of profitability: On an adjusted basis, the company would post a positive figure for earnings before interest, taxes, depreciation and amortization. Aurora adjusts its Ebitda figure for biological asset transformation, among other…

Original Author Link click here to read complete story..



Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.