Aurora Cannabis Inc Stock Price, News & Analysis

Aurora Cannabis Inc. (ACB) announced results from its Annual General and Special Meeting held on November 12, 2020. A total of 48,828,603 shares, representing 40.34% of the issued shares, were represented at the meeting. Key approvals included the election of directors, the appointment of KPMG LLP as auditors, and the renewal of a 10% rolling stock option plan. Notably, Miguel Martin secured 90.05% of votes in favor of his position. The company remains a global cannabis leader, dedicated to serving both medical and consumer markets.

Aurora Cannabis Inc. (ACB) has announced a public offering of 20 million units at US$7.50 per unit, expected to raise US$150 million. Each unit includes one common share and one half of a common share purchase warrant, exercisable for 40 months at US$9.00. The offering will close on or about November 16, 2020, subject to market conditions. The net proceeds will fund growth opportunities and general corporate purposes. Additionally, underwriters have a 30-day option to purchase an additional 15% of the units offered. The offering is managed by BMO Capital Markets and ATB Capital Markets.

Aurora Cannabis (ACB) has announced a proposed overnight marketed public offering of units at US$7.50 per unit, aiming to raise approximately US$125 million. Each unit consists of one common share and half a warrant, with an exercise price of US$9.00 for the warrants. The offering's final terms will be established at pricing, subject to market conditions and approvals from relevant exchanges. The funds raised will be used for growth opportunities and general corporate purposes. A 30-day option for underwriters to purchase an additional 15% of the units is also planned.

Aurora Cannabis (ACB) reported Q1 2021 net revenue of $67.8 million, a slight increase from the previous quarter, driven by strong growth in the international medical market, which rose 41%. The company's medical cannabis revenue was $33.5 million while consumer cannabis revenue dipped to $34.3 million, a 3% decline. Notable achievements include an adjusted gross margin of 48% and improved liquidity, with a cash balance of approximately $250 million. However, an adjusted EBITDA loss of $57.9 million was reported, primarily due to restructuring costs.

Aurora Cannabis (ACB) has filed a final short form base shelf prospectus with Canadian regulators and the SEC, enhancing financial flexibility for business objectives. The company reaffirms its fiscal Q1 expectations, predicting cannabis net revenue between $60 million and $64 million, slightly down from $67.5 million in Q4 2020. Aurora expects to maintain compliance with financial covenants and anticipates SG&A costs around $40 million. The company aims for positive adjusted EBITDA in Q2 2021, following the divestiture of non-core subsidiaries.

Aurora Cannabis Inc. (ACB) announced a conference call on November 9, 2020, at 8:30 a.m. ET to discuss its first quarter fiscal year 2021 results, ending September 30, 2020. The financial results will be released before market open on the same day. Furthermore, Aurora has updated its director compensation plans, capping non-employee director equity compensation at $150,000, with a maximum of $97,500 in stock options. A new Performance Share Unit Plan is subject to shareholder approval on November 12, 2020.

Aurora Cannabis (ACB) announced the completion of its At-The-Market (ATM) program and the filing of a new preliminary base shelf prospectus. This allows for offerings of up to $500 million in various securities over a 25-month period. The company reports a current cash position of approximately $272 million and an undrawn revolver capacity of $11 million. The filing aims to enhance financial flexibility to support future growth.

Aurora Cannabis Inc. reported Q4 2020 results, revealing total net revenue of $72.1 million, a 5% decline from Q3. Cannabis revenue also dropped by 3% to $67.5 million, despite a 36% rise in volume sold. Medical cannabis revenue rose 4% to $32.2 million, benefiting from strong European growth. Adjusted EBITDA loss improved to $34.6 million, a reduction from $50.4 million in the prior quarter. SG&A expenses decreased by 18% to $60.1 million. For Q1 2021, cannabis net revenue is projected between $60 million and $64 million, with expectations for positive adjusted EBITDA by Q2 2021.

Aurora Cannabis Inc. (ACB) announced a conference call for September 22, 2020, to discuss its fourth quarter and full fiscal year 2020 results, with earnings to be reported post-market. CEO Miguel Martin and CFO Glen Ibbott will host the call. Additionally, the company will file annual financial statements and hold a virtual Annual General Meeting on November 12, 2020. Notably, Aurora anticipates reporting material weaknesses in its internal control framework due to significant changes made during the fiscal year, though it does not expect any changes to its previously reported financial results.