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Home / Business / Aurora Cannabis Announces Financial Results for the Fourth Quarter and Fiscal Year 2019

Aurora Cannabis Announces Financial Results for the Fourth Quarter and Fiscal Year 2019




<p type = "text" content = " Generates $ 98.9 Million Net Revenue, up 52% ​​from the previous quarter
Cannabis net revenue increases 61% to 94, $ 6 million from previous quarter
Report Gross Margin on Cannabis Net Income of 58% "data-reactid =" 11 "> Generates Net Income of $ 98.9 Million, up 52 % From previous quarter
Cannabis net income increases 61% to $ 94.6 million from previous quarter
Report gross margin on cannabis net income of 58%

<p type = "text" content = "EDMONTON, September 1

1, 2019 / CNW / – & nbsp; Aurora Cannabis Inc. (" Company "or" Aurora " ) (NYSE | TSX: ACB), the Canadian company defining the future of cannabis worldwide, today announced its financial and fourth quarter and fiscal year ended June 30, 2019. "data-reactid =" 13 "> EDMONTON, September 11, 2019 / CNW / – Aurora Cannabis Inc. (" Company "or" Aurora ") (NYSE | TSX: ACB), the Canadian company defining the future of cannabis worldwide, today announced its financial and operational results for the fourth quarter and fiscal year ending June 30, 2019.

"In 2019, Aurora took its place as the world leader in cannabis production, research, innovation and international market development. We carry out all our strategic priorities, "says CEO Terry Booth." Our best in cultivation methods allow us to grow consistent, high-quality cannabis on a scale. Because of this, we delivered solid revenue growth in the fourth quarter. We are working to expand the reach of the US markets. Our partnership with the UFC is a foundation for exploring CBD-from-hemp and hemp-food products. We also explore more opportunities and utilize our strategic advisor. We are focused on building a sustainable, high-margin business while providing patients and consumers with access to safe and reliable medicine. "

Glen Ibbott, CFO, added," We continue to see strong growth in cannabis revenue in both medical and consumer categories. Our cultivation continues to reduce production costs and improve gross margin. Aurora's diversified product portfolio remains in demand for both patients and consumers. With the Canadian launch of derivative products in the coming months, we have made the necessary investments to ensure readiness and focus on a range of valuable products. We are very pleased to supply an expanded consumer market with premium cannabis and new product types. "

<p type =" text "content =" (Unless otherwise stated, comparisons are made between Fiscal Q4 2019 and Q3 2019 results and are in Canadian dollars) "data-reactid = "37"> (Unless otherwise stated, comparisons are made between Fiscal Q4 2019 and Q3 2019 and are in Canadian dollars)

Consolidated net income increased 52% to $ 98.9 million in Q4 2019 compared to $ 65.1 million in the previous quarter Consumer cannabis revenues were $ 44.9 million in the fourth quarter of 2019, up 52% ​​from the previous quarter and contributed 45% to total consolidated net revenues. , $ 2 million in the fourth quarter of 2019, up 9% on the previous quarter.The revenue growth was primarily driven by additional production capacity and offers available for sale from Aurora Sky and Aurora River (Bradford).

Average net selling price of can almost fall by $ 1.08 per gram over the previous quarter from $ 6.40 in Q3 2019 to $ 5.32 in Q4 2019. This decline is mainly due to the increase in sales volumes to consumer and bulk wholesale markets that yield lower average net sales prices compared to medical markets.

Gross margin on cannabis net income increased to 58% in Q4 2019, compared to 55% in the previous quarter. The improvement in gross margin was driven by the continued decline in cash costs to produce per gram and higher gross margins achieved on bulk sales.

During Q4 2019, Aurora produced 29,034 kg of cannabis compared to 15,590 kg in the previous quarter. The 86.2% increase in production was primarily due to the additional production capacity added by Aurora Sky, River (Bradford) and Ridge (Markham). Recoverability increased from 20,400 kilos to 26,400 kilograms in Q4 2019. After the end of the quarter, Aurora's annual production capacity increased further to 45,600 kilograms.

4. Q1 2019 SG&A increased by 9% to $ 72.9 million compared to the previous quarter. The change was primarily driven by an increase in fulfillment and shipping costs related to the growth in consumption of cannabis sales and continued investment in sales initiatives, distribution networks and partnerships to conduct research, develop products and drive brand awareness. Aurora will continue to invest in the infrastructure and talent required for growth in market share in the global medical and consumer cannabis markets, but will remain intensely focused and make this as effective as possible.

In Q4 2019, adjusted EBITDA loss improved 68% to $ 11.7 million from $ 36.6 million in the previous quarter. Developing a profitable and robust global cannabis company is extremely important to Aurora. In the fiscal year 2019, Aurora was focused on excellence in execution, and the company's CPIs show success in this regard. Furthermore, Aurora has addressed previously identified bottlenecks in production and continues to see strong implementation of the company's products at the retail level. However, the Canadian consumer channel continues to face challenges at the retailer level in key markets, and the solution to this problem is beyond the company's control. Aurora works closely with all of our regulatory and channel partners to streamline distribution as the company continues to track positively adjusted EBITDA on a consolidated basis.

The company's current annual production capacity for running speed is over 150,000 kg per year. years, based on planted rooms. As the industry leader in custom-built cultivation, Aurora is focused on producing a consistent supply of high-quality and affordable products to meet market demand trends. Aurora is well positioned to respond to market conditions quickly with shorter lead times, increased harvesting cycles and high plant yields.

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = " Outlook & nbsp; "data-reactid =" 82 "> Outlook

The global cannabis and hemp markets represent a significant opportunity for Aurora and the company will continue to make the necessary investments today to build long-term value for its shareholders. However, Aurora will take a balanced approach to these investments with a focus on running a sustainable and profitable business.

The introduction of new product formats to the Canadian consumer market this fall represents a significant opportunity for the company. Aurora expects to have a robust product line ready to launch in December. Given the very early stage of the development of the consumer market in Canada and international medical markets, management expects sales volume and revenue from quarter to quarter to be unstable. The company expects adjusted EBITDA to continue to improve in the future due to expected revenue growth, gross margin improvements and reasonable SG&A growth.

The adoption of the US Farm Act provides new opportunities in the largest cannabis- and hemp-derived CBD market. globally, and as such, Aurora is committed to establishing a significant operating footprint in the United States As part of the US market strategy, the Company assesses its stakeholders and how various state and federal regulations will affect their business outlook. A number of options to increase Aurora's presence in the US market are under evaluation, and the company is committed to participating only in activities permitted under both state and federal laws. Management believes that there are currently market opportunities that are legal at both the state and federal levels that can add cash flow to operations and be critical pillars of Aurora's strategy and long-term success.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Conference call " data -reactid = "86"> Conference Call

Aurora will host a conference call tomorrow, September 12, 2019, to discuss these results. Terry Booth, CEO, Glen Ibbott, CFO, Cam Battley, CEO, and Michael Singer, CEO, will host the talk that begins at 9 PM Eastern time. A question and answer will follow the management's presentation.

Date:

Thursday, September 12 2019

Time:

09:00 Eastern Time | 07:00 Mountain Time

Webcast:

https://bit.ly/34gYCj5

Replay:

(416) 849-0833 or (855) 859-2056

until 12:00 midnight eastern time Thursday, September 19, 2019

Reference number:

6084057

<p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" About Aurora & nbsp; "data-reactid =" 91 "> About Aurora

Headquarters in Edmonton, Alberta, Canada with a funding capacity of over 625 000 kg per year and sales and operations in 25 countries across five continents, Aurora is one of the world's largest and leading cannabis companies. Aurora is vertically integrated and horizontally diversified in all key segments of the value chain, from plant engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, high value product development, home cultivation, wholesale and retail distribution.

Aurora has established a uniquely advanced, consistent and efficient manufacturing strategy, very different from its peers, based on purpose-built facilities that integrate leading-edge technologies into all processes, defined by extensive automation and customization, resulting in massive scale production of high quality consistent product. Designed to be reproduced and scaled globally, our manufacturing facilities are manufactured to produce cannabis on a substantial scale, with high quality, industry-leading yields and low per gram production costs. Each of Aurora's facilities is built to meet EU Good Manufacturing Standards (EU GMP). Certification has been granted to Aurora's first Mountain View County manufacturing facility, the MedReleaf Markham plant, and the wholly-owned European medical cannabis distributor Aurora Deutschland. All Aurora facilities are designed and built to the EU GMP standard.

<p class = "canvas atomic canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In addition to the company's rapid organic growth and strong execution of strategic M&A, which to date includes 17 wholly owned subsidiaries – MedReleaf, CanvasRX, Peloton Pharmaceutical, Aurora Deutschland, H2 Biopharma, BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics, Anandia, HotHouse Consulting, MED Colombia, Agropro , Borela, ICC Labs, Whistler, Chemi Pharmaceutical, and Hempco – Aurora stands out for its reputation as a chosen partner and employer in the global cannabis sector, having invested in and established strategic partnerships with a number of leading innovators, including: Radient Technologies Inc. ( RTI.V ), Cann Group Ltd. ( CAN.AX ), Micron Waste Technologies Inc. (CSE: MWM), Choom Holdings Inc. (CSE: CHOO) , CTT Pharmaceuticals ( CTTH ), Alcanna Inc. ( CLIQ.TO ), High Tide Inc. (CSE: HITI), EnWave Corporation ( ENW.V ), Capcium Inc. (private), Evio Beauty Group (private) and Wagner Dimas (private). "data-reactid =" 94 "> In addition to the company's rapid organic growth and strong execution of strategic M&A, which to date includes 17 wholly owned subsidiary companies – MedReleaf, CanvasRX, Peloton Pharmaceutical, Aurora Deutschland, H2 Biopharma, BC Northern Lights, Larssen Greenhouses, CanniMed Therapeutics, Anandia, HotHouse Consulting, MED Colombia, Agropro, Borela, ICC Labs, Whistler, Chemi Pharmaceutical, and Hempco – Aurora is distinguished by its reputation as a chosen partner and employer in the global cannabis sector, having invested in and established strategic partnerships with a number of leading innovators, including: Radient Technologies Inc. (RTI.V), Cann Group Ltd. (CAN. AX), Micron Waste Technologies Inc. (CSE: MWM), Choom Holdings Inc. ( CSE: CH OO), CTT Pharmaceuticals (CTTH), Alcanna Inc. (CLIQ.TO), High Tide Inc. (CSE: HITI), EnWave Corporation (ENW.V), Capcium Inc. (private), Evio Beauty Group ( private), and Wagner Dimas (private).

Auroras Comm on Shares trades on the TSX and NYSE under the symbol "ACB", and is a component of the S & P / TSX Composite Index.

<p class = "canvas-atom canvas -text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "For more information about Aurora, please visit our investor website, investor.auroramj.com "data-reactid =" 96 "> For more information on Aurora, please visit our investor website, investor.auroramj.com

Terry Booth, CEO

Aurora Cannabis Inc.

<p class = "canvas-atom canvas text Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = " Forward-looking statements and non-IFRS industry measures "data-reactid =" 99 "> Forward-looking statements and non-IFRS industry measures

news releases refer to certain non-IFRS measures, including certain industry metrics. These calculations and measurements are not recognized targets under IFRS have no meanings prescribed under IFRS and as a result are unlikely to be comparable to similar measures presented by other companies. These measures are provided as information that is complementary to the IFRS measures by providing a further understanding of our operating results from the management's perspective. As such, these measures should not be considered in isolation or in lieu of review of our financial information reported under IFRS. This press release uses non-IFRS measures including "net cannabis revenues", "adjusted EBITDA", "cannabis inventory and biological assets", "cash costs to produce per gram sold", "average net sales price per gram", "production capacity", and "SG&A". The above are frequently used operating measures in the industry, but can be calculated differently compared to other companies in the industry. These non-IFRS measures, including the industry measures, are used to provide investors with additional measures for our operating results that are otherwise not visible when relying only on IFRS calculations. Definitions of the non-IFRS measures can be found in our accounts, MD&A and this news paper.

This news release also contains statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking) statements"). Forward-looking statements are often marked by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "can", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur and include, but are not limited to the execution of final agreements and termination of the transaction. These statements are just predictions. Various assumptions were used to draw conclusions or make projections in the forward-looking statements through this news release. Forward-looking statements are based on management's opinions and estimates at the date the statements are made, and are subject to a number of risks and uncertainties and other factors that may cause actual events or results to differ materially from those projected in the future. -so statements. These risks include, but are not limited to, the ability to retain key personnel, the ability to continue to invest in infrastructure to support growth, the ability to obtain financing under acceptable conditions, continued quality of our products, customer experience and retention, development of third-party government channels and non-governmental adult sales channels, leadership estimation of consumer demand in Canada and in jurisdictions where the company exports, expectations of future performance and spending, availability of additional capital to complete construction projects and improvements to facilities, the risk of successful integration of procurement business and enterprise, the ability to expand and maintain distribution capabilities, the effect of competition, and the opportunity for changes in industry laws, rules and regulations. The Company is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless expressly required by applicable law.

<p class = "canvas-atom canvas text Mb (1.0 cm) Mb (0) – sm Mt (0.8 cm) – sm" type = "text" content = " N [19659042]neither TSX, NYSE nor their applicable regulatory service providers (as defined in the Toronto Stock Exchange and New York Stock Exchange Guidelines) are responsible for the adequacy or accuracy of this release. = "102"> N either TSX, NYSE or their applicable regulatory service providers (as defined in the Toronto Stock Exchange and New York Stock Exchange Policies) assume responsibility for the adequacy or accuracy of this release.

Aurora Cannabis Inc. (CNW Group / Aurora Cannabis Inc.) [19659047] More

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