The TDR Three Key Takeaways regarding Aurora Cannabis Q4 Fiscal 2024 Profits Report:
- Aurora Cannabis reported Q4 2024 revenue of$ 55.9 million, a 5 % increase from$ 53.2 million in Q4 2023.
- Aurora Cannabis reported adjusted EBITDA, improved to$ 4.7 million from$ 3.9 million in Q4 2023.
- The company reported net loss decreased to$ 28.3 million compared to$ 32.4 million in Q4 2023.
Aurora Cannabis Inc. ( TSX: ACB, NASDAQ: ACB), is a Canada- based health focused cannabis firm. The Company’s primary firm lines are focused on the production, supply, and purchase of hemp related products in Canada and worldwide. The Company announced its macroeconomic 2024 third quarter financial benefits. The company reported revenue of$ 55.9 million, a 5 % increase from$ 53.2 million in Q4 2023, driven by strong growth in the international medical cannabis market and higher consumer demand.
Adjusted EBITDA for Q4 2024 was$ 4.7 million, up from$ 3.9 million in Q4 2023. This progress was attributed to operational savings and cost reduction efforts. Miguel Martin, CEO of Aurora Cannabis, stated,” Our proper emphasis on high- percentage medical cannabis and disciplined expense management has yielded good adjusted EBITDA for the third”.
The online lost for Q4 2024 decreased to$ 28.3 million from$ 32.4 million in Q4 2023. This decrease was mostly attributable to better cost control and lower impairment costs. We are making major advances in optimizing our businesses and are still committed to achieving success, Martin continued.
Aurora’s operating expenses were$ 18.2 million, down from$ 20.5 million in Q4 2023, reflecting ongoing efforts to streamline operations. The company ended Q4 2024 with$ 110.7 million in cash and cash equivalents, up from$ 98.6 million at the end of Q3 2024.
Miguel Martin expressed his satisfaction with Aurora’s total fiscal year performance, saying,” We are very pleased to be reporting our strongest fiscal year always.” Total fiscal year 2024 net revenue increased 21 % compared to the trailing four quarters, while adjusted EBITDA was positive on an annualized basis for the first time in our history, reaching$ 12.8 million. We even strengthened our balance plate, ending with a strong online money place of about$ 180 million as of March 31 and fully repaid our convertible loan.
Martin cited Aurora’s authority in the world’s health cannabis industry as evidenced by Martin’s statement,” Aurora is the largest international medical cannabis firm in nationwide legal markets, and our authority is best distinguished by serving the varied needs of patients across the world. In Q4 2024, global medical cannabis net revenue increased 20 % year- over- year, supported by the recent acquisition of MedReleaf Australia, where we saw significant growth, along with higher sales in Poland and the UK. Additionally, we exceeded our goal of 60 % in the quarterly adjusted gross margin for medical cannabis with 66 %. These results are encouraging as we work toward achieving our next milestone in positive free cash flow by December 31,” said Martin.
Aurora Cannabis intends to expand its product range and strengthen its global presence in the future. The business is optimistic about the company’s outlook on the medical cannabis industry’s potential for regulatory changes and continued expansion. Want to be updated on Cannabis, AI, Small Cap, and Crypto? Subscribe to our Daily Baked in Newsletter!
