Aurora Cannabis Files Full Year Results

Ticker: ACB · Form: 6-K · Filed: 2024-06-20T00:00:00.000Z

Sentiment: neutral

Topics: results, financials, cannabis

TL;DR

Aurora Cannabis dropped its full-year and Q4 results on June 20th. Check the numbers.

AI Summary

Aurora Cannabis Inc. filed its full-year results and announced its fiscal 2024 fourth-quarter performance on June 20, 2024. The company is reporting its results and providing an update on its business operations. Miguel Martin, the CEO, signed off on the report.

Why It Matters

This filing provides investors with the latest financial performance data for Aurora Cannabis, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — Aurora Cannabis operates in the highly regulated and competitive cannabis industry, which carries inherent financial and market risks.

Key Players & Entities

FAQ

What is the purpose of this Form 6-K filing?

This Form 6-K is a Report of Foreign Private Issuer filed by Aurora Cannabis Inc. to submit a news release dated June 20, 2024, which contains their full-year results and fiscal 2024 fourth-quarter performance.

Who is Miguel Martin and what is his role?

Miguel Martin is the Chief Executive Officer of Aurora Cannabis Inc. and signed the report on behalf of the company.

What is the filing date and period of report for this document?

The filing date is June 20, 2024, and the conformed period of report is also June 20, 2024.

Which form does Aurora Cannabis file its annual reports under?

Aurora Cannabis indicates it files its annual reports under Form 40-F.

What exhibit is included with this 6-K filing?

Exhibit 99.1 is included, which is a News Release dated June 20, 2024, announcing Aurora Cannabis's full-year results and fiscal 2024 fourth-quarter performance.

From the Filing

0001279569-24-000770.txt : 20240620 0001279569-24-000770.hdr.sgml : 20240620 20240620071931 ACCESSION NUMBER: 0001279569-24-000770 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20240620 FILED AS OF DATE: 20240620 DATE AS OF CHANGE: 20240620 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AURORA CANNABIS INC CENTRAL INDEX KEY: 0001683541 STANDARD INDUSTRIAL CLASSIFICATION: MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 000000000 STATE OF INCORPORATION: A1 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38691 FILM NUMBER: 241054055 BUSINESS ADDRESS: STREET 1: 2207 90B STREET SW CITY: EDMONTON STATE: A0 ZIP: T6X 1V8 BUSINESS PHONE: 604-362-5207 MAIL ADDRESS: STREET 1: 409 GRANVILLE STREET STREET 2: SUITE 1700 CITY: VANCOUVER STATE: A1 ZIP: V6C 1T2 6-K 1 aurora_6k.htm FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of June 2024 Commission File No. 001-38691 AURORA CANNABIS INC. (Translation of registrant's name into English) 2207 90B St. SW Edmonton, Alberta T6X 1V8 Canada (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F Form 20-F ☐ Form 40-F ☒ SUBMITTED HEREWITH Exhibits Description 99.1 News Release dated June 20, 2024 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. AURORA CANNABIS INC. /s/ Miguel Martin Miguel Martin Chief Executive Officer Date: June 20, 2024 EX-99.1 2 ex991.htm NEWS RELEASE DATED JUNE 20, 2024 Exhibit 99.1 Aurora Cannabis Files Full Year Results and Announces Fiscal 2024 Fourth Quarter Delivers Record Annual Adjusted EBITDA 1 of $12.8 Million NASDAQ | TSX: ACB • Q4 Represents the Sixth Consecutive Quarter of Positive Adjusted EBITDA 1 • Increased Total Quarterly Net Revenue 5% YoY to $67.4 Million, Global Medical Cannabis Net Revenue 1 Grew by 20% YoY to $45.6 Million • Ended the Fiscal Year with a Cash Position of ~$180 Million with Cannabis Business Debt-Free 2 • Re-Affirms Target of Reaching Positive Free Cash Flow 1 by December 31, 2024 EDMONTON, AB, June 20, 2024 /CNW/ - Aurora Cannabis Inc. (the "Company" or "Aurora" ) (NASDAQ: ACB) (TSX: ACB), a leading Canada-based global medical cannabis company, today announced its financial and operational results for the fourth quarter and fiscal year 2024. As the fiscal year 2023 consisted of three quarters, the year-over-year comparison quarter for Q4 2024 ending March 31, 2024 is Q3 2023 ending March 31, 2023. "We are incredibly pleased to be reporting our strongest fiscal year ever at Aurora. Total fiscal year 2024 net revenue increased 21% compared to the trailing four quarters, while adjusted EBITDA was positive on an annualized basis for the first time in our history, reaching $12.8 million. We also strengthened our balance sheet, ending with a strong net cash position of approximately $180 million as of March 31 st , and fully repaid our convertible debt," said Chief Executive Officer Miguel Martin. "Aurora is the largest global medical cannabis company in nationally legal markets and our leadership is best differentiated by serving the diverse needs of patients across the world. In Q4 2024, global medical cannabis net revenue 1 increased 20% year-over-year, supported by the recent acquisition of MedReleaf Australia, where we saw significant growth, along with higher sales in Poland and the UK. We also achieved our highest quarterly adjusted gross margin 1 in medical cannabis of 66%, far ahead of our targeted range of 60%. These results are encouraging

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