Welcome to our dedicated page for Aurora Cannabis news (Ticker: ACB), a resource for investors and traders seeking the latest updates and insights on Aurora Cannabis stock.
Aurora Cannabis Inc. (ACB) is a Canada-based global medical cannabis company with shares listed on NASDAQ and the Toronto Stock Exchange. From an investor and industry perspective, Aurora’s news flow centers on medical cannabis expansion, scientific research, international market development and operational performance.
Company announcements frequently highlight growth in global medical cannabis revenue, leadership positions in key markets, and updates on its plant propagation business through Bevo Farms Ltd. Earnings releases and financial updates provide detail on segment performance across medical cannabis, consumer cannabis and plant propagation, along with adjusted gross margins, adjusted EBITDA and working capital trends.
News items also cover Aurora’s international initiatives, such as investments in its EU-GMP manufacturing facility in Leuna, Germany, launches of proprietary medical flower cultivars in Poland under the Cannabis flos Aurora brand, and the introduction of the Daily Special medical brand in Germany. In Australia, updates include distribution partnerships through MedReleaf Australia and Leafio, aimed at expanding access to Aurora’s medical cannabis products via pharmacy networks.
Scientific and educational developments are another recurring theme. Aurora reports progress in powdery mildew resistance research (PM2) conducted at its Aurora Coast R&D facility, including breeding programs and production trials. The company also announces collaborations like the Physician Experience Platform (PEP) with Copeia, which provides anonymized, peer-reviewed medical cannabis case studies for physicians in multiple countries.
Investors following ACB news can expect coverage of quarterly results, international facility investments, product launches, distribution agreements, conference participation and medical education initiatives. Bookmark this page to monitor how Aurora’s strategic focus on global medical cannabis, science and international markets is reflected in its ongoing news and disclosures.
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.
Aurora Cannabis has appointed Miguel Martin as the new CEO, succeeding Michael Singer. The company anticipates Q4 2020 net revenue between $70 million and $72 million, slightly down from $75.5 million in Q3 2020. Cannabis net revenue is expected to range from $66 million to $68 million. Aurora plans to record up to $1.8 billion in goodwill impairment charges as part of its restructuring. The company also secured amendments to its credit facility for greater financial flexibility and expects to achieve positive Adjusted EBITDA in Q2 2021.
Aurora Cannabis has appointed Miguel Martin as its new Chief Executive Officer, effective immediately. Martin, who has extensive experience in consumer goods and regulated industries, previously served as Aurora's Chief Commercial Officer. He replaces Michael Singer, who was Interim CEO since February 2020 and will continue as Executive Chairman. Martin expressed confidence in Aurora's potential, citing its deep industry knowledge and commitment to quality as key strengths. The leadership change aims to drive sustainable growth and profitability for the company.
Aurora Cannabis announced the appointment of Miguel Martin as Chief Commercial Officer, effective immediately, replacing Darren Karasiuk. Martin, previously President of Aurora USA and CEO of Reliva, brings over 25 years of experience in consumer packaged goods. His role aims to enhance Aurora's revenues and brand strength in global markets. Executive Chairman Michael Singer highlighted Martin's proven track record in regulated industries, aligning with Aurora's commitment to profitability and excellence in sales and marketing.
Aurora Cannabis (ACB) has announced significant updates on its Business Transformation Plan, including an SG&A run rate target of approximately $42 million for Q1 2021. The company is focused on enhancing margins and profitability through personnel restructuring, with a 25% reduction in SG&A staff and a 30% reduction in production staff. Additionally, Aurora is consolidating its production facilities to improve efficiency and expects to report a positive adjusted EBITDA for Q1 2021. However, the company anticipates up to $60 million in impairment charges related to facility closures.
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