Aurora cannabi full#

Excluding the impact of the non-core bulk wholesales, adjusted gross margin before fair value adjustments on cannabis net revenue1 for Q2 2023 remained strong and steady, and well above the industry average, at 49% compared to 54% in Q1 2023 and 54% in Q2 2022.

Aurora cannabi full#

The increase from the prior quarter was due to growth across all cannabis business segments and a full quarter contribution of $6.6 million from Bevo, acquired in August 2022. Total net revenue 1 was $61.7 million, as compared to the prior quarter net revenue 1 of $49.3 million and $60.6 million in the prior year period.Second Quarter 2023 Highlights (Unless otherwise stated, comparisons are made between fiscal Q2 2023, Q1 2023, and Q2 2022 results and are in Canadian dollars) See 'Non-GAAP Measures' below for reconciliations of non-GAAP financial measures to GAAP financial measures. 'Looking ahead, we are focused on profitable growth opportunities across all segments, ongoing discipline in capital deployment, and our ability to generate positive operating cash flow as we continue to build value for shareholders,' he concluded.ġ This press release includes certain non-GAAP financial measures, which are intended to supplement, not substitute for, comparable GAAP financial measures. (' Bevo ') acquisition, for which we anticipate an even higher top-line and Adjusted EBITDA 1 contribution in Q3 2023 versus Q2 2023 due to the inherent seasonality of this business,' he added. Q2 2023 also included the first full-quarter of results from our recent Bevo Agtech Inc. Our Canadian rec business also demonstrated sequential growth driven by significant product innovation, and our Canadian medical cannabis business continued to benefit from strong patient relationships and high barriers to entry. 'Revenue growth in Q2 2023 was primarily driven by our unique, portable, and profitable international medical program. Additionally, our robust balance sheet remains in a net cash position which puts it among the strongest in the industry, and we continued to make significant strides in reducing our debt in the recent quarter,' stated Miguel Martin, Chief Executive Officer of Aurora. We have right-sized our business while remaining the #1 Canadian LP in global medical cannabis revenues, and having demonstrated organic quarter over quarter revenue growth across all of our cannabis segments during Q2 2023.

'We are pleased to have delivered on our commitment to achieve positive Adjusted EBITDA 1 in Q2 2023, following a tremendous effort to realize approximately $340 million of total annualized savings since February 2020. Copper Prices Could See 'Astronomical Rise' as Supply Concerns Increase.10 Largest Producers of Gold by Country.