Fiscal Q1 results narrow loss but revenue declines
Aurora Cannabis posted an IFRS net loss of CAD 4.03 million for the three months ended June 30, narrowing from CAD 19.87 million a year earlier.
Revenue fell to CAD 70.76 million from CAD 80.51 million, while net revenue slipped to CAD 67.55 million from CAD 74.08 million.
IFRS gross profit rose to CAD 35.62 million from CAD 33.53 million, as fair value gains on biological assets increased to CAD 38.7 million.
Operating cash flow swung to an outflow of CAD 4.45 million from an inflow of CAD 10.12 million, while cash ended at CAD 69.31 million.
Aurora completed the Safari Flower acquisition, paying CAD 15 million cash and issuing CAD 11.63 million in shares; Safari added CAD 2.8 million revenue.