Aurora Cannabis reports Q1 revenue C$83.4M vs. C$74.7M last year

Q1 net income from continuing operations for the three months ended June 30, 2024 was C$4.8M compared to net loss of (C$20.2M) for the prior year period. “This was a milestone quarter for Aurora, as we delivered strong net revenue growth, a substantial increase in adjusted EBITDA, and positive free cash flow. Our impressive performance was driven by record net revenue1 in the rapidly growing global medical cannabis segment, and we look forward to building on our achievements in key markets such as Germany, Australia, and the UK throughout fiscal 2025 and beyond. The quarter was further supported by a record contribution from our Bevo plant propagation business, underscoring the strength of our diversified business model,” said Chief Executive Officer Miguel Martin. “The progress we made during the quarter sets a strong foundation for the rest of the fiscal year, and with our continued commitment to operational excellence and strategic growth, we are well-positioned to sustain this positive momentum. Our growth in global medical, the highest margin cannabis segment, alongside our strong balance sheet and ongoing fiscal discipline, are pivotal as we build on our achievement with respect to positive free cash flow,” Martin concluded.