Aurora Cannabis reports Q2 revenue expected to be between $50M and $55M
EDMONTON - Aurora Cannabis Inc. says it expects to report second-quarter revenue of between $50 million and $55 million.
Analysts had expected revenue at the marijuana producer to total about $67 million for the quarter ended Dec. 31, according to Thomson Reuters Eikon.
Aurora says the result for the quarter is up from $11.7 million in the same quarter a year ago and better than the $29.7 million for the quarter ended Sept. 30.
The increase was driven by the start of the adult consumer use market in Canada in October and shipments of medical cannabis to Aurora's base of roughly 71,000 patients in Canada.
The company says its production capacity is now about 100,000 kilograms per year, up from 70,000 kg in November.
Annual production capacity is expected to grow to 150,000 kg by the end of the current quarter, with Aurora scheduled to release is full quarterly results on Feb. 11.
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Note to readers: This is a corrected story. A previous version stated that Aurora Cannabis issued guidance for the fourth quarter.