Uptick in Medical Cannabis sales leads to rise in Q2 revenues for Aurora Cannabis

Posted November 15, 2023 on Global News

Aurora Cannabis Inc says it earned $256,000 in the second quarter, up from a loss a year earlier of $45,5 million.

The Edmonton-based cannabis company says net revenue for the quarter was $63.4 million, up from $48.6 million during the same quarter a year earlier.

The company attributed the increase to growth in its global medical cannabis business and quarterly revenue in its plant propagation business.

CEO Miguel Martin says it was the company’s strongest fiscal year to date.

He says Aurora is experiencing the benefits of diversification across its cannabis and non-cannabis platforms.

The company’s net revenue from medical cannabis rose 42 percent from a year earlier, while revenues from consumer cannabis were slightly lower.