![]() ![]() The increase in revenue was driven by growth in the international medical business, up 35.4% from the prior year quarter which was attributed primarily to the Company's increasing presence in key emerging international medical cannabis markets. Medical cannabis net revenue 1 was $36.6 million, a 4% increase from the prior year period, delivering 72.8% of Aurora's Q4 2022 consolidated net revenue 1 and 86.3% of adjusted gross profit before fair value adjustments 1. (Unless otherwise stated, comparisons are made between fiscal Q4 2022, Q3 2022, and Q4 2021 results and are in Canadian dollars) Finally, our investment in science is beginning to pay dividends we delivered nine new proprietary cultivars to market during the year, providing rotation and variety to consumers and driving meaningful improvements in yield," he concluded. We are beginning to see signs of stabilization in our Canadian adult recreational segment and are excited about the contributions from the Thrive acquisition which continues to advance our premiumization strategy. "During fiscal 2022, our international medical cannabis net revenues increased by over 70% our leadership in key markets such as Germany, UK, Australia and Poland demonstrates our unique, portable and profitable international medical program. These include our purchase of a controlling interest in Bevo Farms, one of the largest suppliers of propagated vegetables and ornamental plants in North America, and Thrive Cannabis, which is widely known for its award-winning recreational brand, Greybeard," stated Miguel Martin, Chief Executive Officer of Aurora. ![]() Furthermore, our strengthened balance sheet enabled an early repurchase of $155.3 million in convertible debt during Q4 2022, while providing us with the ability to pursue strategic and accretive acquisitions. We continue to expect a positive adjusted EBITDA run rate by Decemand remain on track with our previously announced cost saving targets of up to $170 million in annualized savings. We remain the #1 Canadian LP in global medical cannabis revenues and expect this high margin, high growth segment to be a key driver for future profitability. "We continue to enhance the long-term value of our differentiated global cannabis business by quickly identifying highly profitable growth opportunities, deploying capital in a disciplined manner, and continuing to rationalize our cost structure. Aurora Cannabis Logo (CNW Group/Aurora Cannabis Inc.) ![]()
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