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Aurora Shares Q2 Fiscal 2018 Results
Author: Bryan Mc Govern  08/02/2018 - 16:39:00

Aurora Cannabis (TSX:ACB; OTCQX:ACBFF) released its financial report for the second quarter of their fiscal 2018, resulting in $11.7 million in revenues.

As quoted in the press release:

Continued Strong Patient and Revenue Growth

  • As at the date of this release, the Company has over 23,000 active registered patients, up 5.9% from Q2 2018.
  • Recorded $11.7 million in revenues, up 201% from Q2 2017 and up 41.8% sequentially from Q1 2018. Revenues were generated as follows:

-Dried cannabis sold in Canada

$5.8 million, up 23.9% sequentially from Q1 2018;

-Dried cannabis sold in Germany

$2.5 million, up 101.1% sequentially;

-Service and other revenues

$2.0 million, up 109.7% sequentially, and

Management commentary

“Exceptional, high-paced execution has delivered another quarter with strong growth, as well as further expansion, vertical integration and diversification,” said Terry Booth, CEO. “With three production licenses, over 240,000 kg per annum in pro-forma funded capacity, multiple distribution channels, and the pending acquisition of CanniMed, we are well positioned to pursue accelerated growth in the domestic and international medical markets. Finally, our partnership with Liquor Stores N.A. shortens our time to market in creating a large bricks-and-mortar cannabis retail network in preparation for the adult consumer use market.”

Click here to read the full press release.

The post Aurora Shares Q2 Fiscal 2018 Results appeared first on Investing News Network.

Original article from investingnews.com: Aurora Shares Q2 Fiscal 2018 Results


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