Aurora Cannabis posts smaller losses than expected as US and Canadian citizens stock up on cannabis

Source: Pixabay | Author: CBD-Infos-com

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Shares of the Canadian pot producer rose by 13% in extended-hours trading on Thursday after the company reported a stronger than expected third fiscal quarter.

In the past three months, Aurora Cannabis has sold a grand total of 12,729 kilograms of cannabis – a staggering year-over-year growth of 39%, as Canadians and US citizens rushed out to stock up on the plant ahead of the COVID-19 pandemic. 

As a result, the company stated that it expects its business to be fully profitable within the following fiscal year and has confirmed its plans to keep capital expenditure below the $100 million* threshold for the remaining half of the year.

According to the report, losses before interest, tax, depreciation and amortisation fell to $36.18 million for the period – a significant improvement considering the company’s losses of $56.90 million in the previous quarter. Quarterly revenue, on the other hand, rose to $53.79 million compared to Q2 when it was $40.08 million.


“I am incredibly proud of the Aurora team for working through these challenging times in order to maintain uninterrupted operations at all of our production facilities and ensure we continue to meet the needs of our patients and consumers. I am also pleased that our third quarter 2020 financial results were in-line with our expectations, and that we remain firmly on track with the cost-savings and capex goals we detailed during our business transformation plan in February 2020.”

Executive Chairman Michael Singer 


Here is a quick rundown of other important figures mentioned in Aurora Cannabis’ report:


– Net revenue: $55.6 million (quarter-over-quarter increase of 18%)

– Consumer cannabis net revenue: $29.4 million, (quarter-over-quarter increase of 24%) 

– Cash cost to produce a gram of dried cannabis: $0.60 (down with $0.02 compared to previous quarter).


*All mentioned figures in the report are in USD.

Upcoming earnings reports

See the full list of upcoming earnings reports for 18 – 22 May in the tables below.

Monday, 18 May 2020

Country of originCompany nameFiscal period
ChinaBaidu IncFirst quarter of 2020
ItalyTelecom Italia SpAFirst quarter of 2020
Great BritainMitchells & Butlers PlcHalf year 2020
Great BritainBig Yellow Group PlcFull year 2019
JapanSoftBank Group CorpFull year 2020
GermanyDeutsche Lufthansa AGFirst quarter of 2020

Tuesday, 19 May 2020

Country of originCompany nameFiscal period
USAUrban Outfitters IncFirst quarter of 2021
USAJ C Penney Company IncFirst quarter of 2020
USAKohls CorpFirst quarter of 2020
USAHome Depot IncFirst quarter of 2020
USAWalmart IncFirst quarter of 2021
Great BritainImperial Brands Plc
Half year 2020
Great BritainHomeServe Plc
Full Year 2020
Great BritainKingfisher Plc
Full Year 2019

Wednesday, 20 May 2020

Country of originCompany nameFiscal period
USAExpedia Group IncFirst quarter of 2020
SpainObrascon Huarte Lain SAFirst quarter of 2020
USATarget CorpFirst quarter of 2020
USAMcKesson CorpFourth quarter of 2020
USAProgressive CorpFinancial report for April 2020
USALowe's Companies IncFirst quarter of 2020
USAAnalog Devices IncSecond quarter of 2020
Great BritainMarks and Spencer Group PlcFull year 2020
Great BritainGreat Portland Estates PlcFull year 2020
IrelandExperian PlcFull year 2020
Great BritainSevern Trent PlcFull year 2020
Great BritainCompass Group PlcHalf year 2020
ChileSociedad Quimica y Minera de Chile SAFirst quarter of 2020

Thursday, 21 May 2020

Country of originCompany nameFiscal period
USARoss Stores IncFirst quarter of 2020
USANVIDIA CorpFirst quarter of 2021
USAIntuit IncThird quarter of 2020
USAHewlett Packard Enterprise CoSecond quarter of 2020
USAAgilent Technologies IncSecond quarter of 2020
USAPalo Alto Networks IncThird quarter of 2020
USABest Buy Co IncFirst quarter of 2021
USATJX Companies IncFirst quarter of 2021
IrelandMedtronic PlcFourth quarter of 2020
Great BritainQinetiq Group PlcFull year 2020
Great BritainTate & Lyle PlcFull year 2020
Great BritainTalktalk Telecom Group PlcPreliminary financial report for 2020
Great BritainRoyal Mail PlcFull year 2020
South AfricaInvestec Plc

Full year 2020

Friday, 22 май 2020 г.

Country of originCompany nameFiscal period
USADeere & CoSecond quarter of 2020
JapanYokohama Rubber Co LtdFirst quarter of 2020
Great BritainUnited Utilities Group PlcFull year 2020
Great BritainSSE PlcFull year 2020
Great BritainBurberry Group PlcPreliminary financial report for Q4 2020


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