Aurora Cannabis (ACB), a Canadian company that produces, distributes, and sells cannabis, reported a loss of $75.1M for Q2. But this loss was a tremendous improvement from the same quarter a year before.
Management reported that adjusted EBITDA improved by 22%, while consumer cannabis net revenue fell to $14.8M from $19.1M in the previous quarter.
- Adjusted gross margin before fair value adjustments on medical cannabis net revenue1 was 62% compared to 64% sequentially and 56% in the prior-year period.
- The international medical business is up 67% YoY.
- $445M in cash.
- Avg. net selling price of dried product (excluding bulk sales) $4.20, down 5.6% from Q1 2022.