Aurora Cannabis sees Q4 revenue net of excise taxes of C$100-C$107 million, up from C$19.1 million
Canada's Aurora Cannabis Inc. said Tuesday it expects to report revenue net of excise taxes for its fiscal fourth quarter of C$100 million ($75.8 million) to C$107 million, up from C$19.1 million in the year-earlier period. The company had revenue of C$65.1 million for the previous quarter to end March. Net revenues are expected to range from C$90 million to C$95 million, with growth expected across all business segments, including medial cannabis, Canadian and international and consumer markets. For the full fiscal year, Edmonton-based Aurora is expecting net revenue of C$249 million to C$256 million. "The company expects to report that production available for sale for Q4 2019 will be at the upper end of the range between 25,000 kg and 30,000 kg, ahead of previous guidance of 25,000 kgs," the company said in a statement. The company expects to post positive adjusted EBITDA, along with improvements in gross margins, kilograms of cannabis sold and cash costs per gram produced. Adjusted EBITDA excludes interest income (expense), accretion, income taxes, depreciation, amortization, changes in fair value of inventory sold, changes in fair value of biological assets, share-based compensation, changes in fair value of financial instruments, gains and losses on deemed disposal, and non-cash impairment of equity investments, goodwill and intangible assets. The guidance is not yet fully audited, but the company expects final numbers to be consistent with the estimates. Shares rose 3.4% premarket and have gained 28% in 2019, while the S&P 500 has gained 13.5%.
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