Aurora Cannabis Sees Q3 Revenue Up 15% to C$130M
Aurora Cannabis’s third-quarter revenue rose 15% year-over-year to C$130 million, driven by a 22% increase in medical cannabis sales. Gross margin expanded by three percentage points to 21%, narrowing the net loss to C$9 million.
1. Revenue Growth
Aurora Cannabis reported third-quarter revenue of C$130 million, marking a 15% increase from the prior year. This ended a streak of quarterly declines and reflected stabilization in overall demand.
2. Medical Sales Surge
Medical cannabis segment sales climbed 22% year-over-year, accounting for the bulk of revenue growth. Expanded patient registrations and new product formats drove higher prescription volume.
3. Margin Improvement
Improved production yields and streamlined cultivation processes lifted gross margin by three percentage points to 21%. Lower input costs per gram and reduced waste also contributed to profitability gains.
4. Net Loss Narrowing
The company’s net loss narrowed to C$9 million for the quarter, down from C$14 million a year earlier. Tightened selling, general and administrative expenses aided in reducing overall operating losses.