The Company's strength continued within both the Canadian and worldwide medical markets, which sales of CAD 26.0 Million, increasing by 8% in revenue and 23% in volume sold.
Gross margins on cannabis sales dropped dramatically to 54% from 70% in the prior quarter.
Aurora also blamed increased packaging requirements under the Cannabis Act and one-time ramp up and optimization costs for the Sky facility.
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The child's body hasn't been found, but police say they recently obtained new witness accounts implicating Fleming in his death. Fleming and Luster married and moved to South Florida in 1987, Leavitt said, and had no recent criminal record.
The company also claimed that it sold around 20 percent of Canada's total cannabis legally available.
Licensed producers, meanwhile, are pointing fingers at the pace of Health Canada's licensing process, and supply chain bottlenecks not uncommon to a nascent industry.
It said the company's Edmonton facility will soon reach full production capacity and a recent harvest completed at the facility exceeded targeted yields.
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"We need better retail infrastructure across the country to see the level of sale everyone is anticipating". "I think the best way to look at the company now, is we will not have any logistical constraints going forward", Booth said.
An excise tax on all Canadian sales channels went into effect on October 17, cutting into profits, but falling wholesale prices in the Canadian consumer market were the bigger problem.
Aurora Cannabis Inc. produces and distributes medical cannabis products.The firm is valued at $7.12 billion. The average price for a gram of legal dried cannabis across Canada was $9.70, almost 50 per cent more than the black market price of $6.51 per gram, according to the most recent data from Statistics Canada. "We are experiencing exceptional demand for our Canadian medical and consumer products, as well as sustained strong demand internationally". While companies have seen exploding revenue and growth figures, something which Aurora has seen thanks to their aggressive expansion and M&A strategy, the company still isn't profitable as it loses C$238 million in their second quarter. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of ($0.04) by $0.13. The company said in a statement that "Non-cash expenses including the December 31, 2018 mark-to-market adjustments of approximately $190 million primarily on the company's derivative investments contributed significantly to a net loss of $240 million".
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Sincel legalization, Aurora's stock has lost roughly 35 per cent of its value, as the pre-legalization buoyancy for pot stocks began to subside. The institutional investor purchased 47,487 shares of the company's stock, valued at approximately $236,000. Tilray Inc.is expected to release its fourth-quarter results on Tuesday, while Canopy Growth Corp. will issue third-quarter results on Thursday.