Aurora Cannabis revenues more than triple to $19.1 million in the fourth quarter
EDMONTON — Aurora Cannabis Inc. capped a busy year by seeing its revenues more than triple to $19.1 million in the fourth quarter.
The Edmonton company says revenues for the three months ended June 30 are up from $5.9 million a year earlier.
Net income attributable to shareholders was nearly $80 million, up from a $4.82 million loss a year ago.
The increase was primarily attributable to the unrealized non-cash gain on derivatives and marketable securities, which was partially offset by increased finance costs, share-based payments, acquisition, and project evaluation costs.
For the full year, revenues increased to $55.2 million from $18.1 million in 2017.
Analyzing the performance of marijuana company is tough because of accounting rules used in the agriculture industry that require companies to put a value on their pot plants before they are harvested, and approaches differ between producers on how to apply these guidelines.
(Companies in this story: TSX:ACB)
The Canadian Press