Aurora Cannabis revenues more than triple to $19.1 million in fourth quarter

Aurora cannabis plant
(image via The Globe and Mail)

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

 

 

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