EDMONTON – Aurora Cannabis says COVID-19 lockdowns caused its consumer sales to plunge 45 per cent in its recent quarter, even as medical cannabis sales increased nine per cent.<\/p>\n
The Edmonton-based cannabis company says its net revenue from consumer sales was $19.5 million, down from $35.3 million in the fourth quarter of 2020. It says this was due to slower consumer demand reflecting pandemic lockdown restrictions.<\/p>\n
Aurora says its medical cannabis net revenue for the three months ended June 30 was $35 million, up from $32 million in the fourth quarter of 2020.<\/p>\n
Aurora reported a net loss of $135.1 million, compared with a net loss of $1.8 million a year earlier.<\/p>\n
On an adjusted basis, it lost $19.3 million, compared with a loss of $33.3 million in the same quarter the year before.<\/p>\n
Included in the adjusted loss is $5.1 million in restructuring costs. Aurora says it has identified $60 to $80 million in annualized cash efficiencies as part of its restructurings.<\/p>\n
Aurora says it expects to deliver $30 million to $40 million of annualized cash savings with the next year, and the remainder by the end of the second quarter of 2023.<\/p>\n
This report by The Canadian Press was first published Sept. 27, 2021.<\/p>\n
Companies in this story: (TSX:ACB)<\/p>\n
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EDMONTON – Aurora Cannabis says COVID-19 lockdowns caused its consumer sales to plunge 45 per cent in its recent quarter, even as medical cannabis sales increased nine per cent. The Edmonton-based cannabis company says its net revenue from consumer sales was $19.5 million, down from $35.3 million in the fourth quarter of 2020. It says […]<\/p>\n","protected":false},"author":362,"featured_media":1473,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"guid":"","source":"The Canadian Press","byline":"","published":"2021-09-27T08:20:22","updated":"2021-09-28T05:30:00","_infotelid":"IT86075","_prepressid":"86075","_multisite_post_sync":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[2,391,381],"tags":[],"region":[309,310,311,312],"class_list":["post-252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in420","category-nonit","category-topnews","region-kamloops","region-kelowna","region-penticton","region-vernon"],"blocksy_meta":[],"jetpack_featured_media_url":"https:\/\/staging.infonews.ca\/in420\/wp-content\/uploads\/sites\/3\/MediaItemID86075-3290.jpg","post_modified":"2021-09-28T05:30:00","post_modified_gmt":"2021-09-28T12:30:00","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/users\/362"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/comments?post=252"}],"version-history":[{"count":3,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/252\/revisions"}],"predecessor-version":[{"id":3725,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/posts\/252\/revisions\/3725"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media\/1473"}],"wp:attachment":[{"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/media?parent=252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/categories?post=252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/tags?post=252"},{"taxonomy":"region","embeddable":true,"href":"https:\/\/staging.infonews.ca\/in420\/wp-json\/wp\/v2\/region?post=252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}