Categories AlphaGraphs, Cannabis, Earnings

ACB Earnings: Aurora Cannabis Q1 2022 revenue down 11%

Aurora Cannabis, Inc. (NYSE: ACB) on Tuesday reported a loss for the first quarter of 2022 when its revenues declined 11% from last year.

Aurora Cannabis Q1 2022 earnings infographic

The Canada-based medical marijuana company reported an EBITDA loss of C$12.1 million for the first quarter, on an adjusted basis, compared to a loss of $58.1 million in the prior-year quarter. Net revenues decreased 11% year-over-year to C$60.1 million during the three-month period.

“Our transformation plan is on track. We continue to strengthen and transform our business while benefitting from broad diversification across our international medical, domestic medical, and adult recreational segments. On a run-rate basis to date, we have executed over $33 million in annualized cost savings, ” said Miguel Martin, chief executive officer of Aurora Cannabis.


Read management/analysts’ comments on Aurora’s Q1 results


Shares of Aurora Cannabis dropped soon after the earnings release on Tuesday evening at the New York Stock Exchange, after closing the regular session higher. The stock has declined 27% since the beginning of 2021.

Most Popular

Take-Two Interactive (TTWO) Q4 earnings decline, revenue up 11%

Gaming company Take-Two Interactive Software, Inc. (NASDAQ: TTWO) announced fourth-quarter 2022 results Monday after the closing bell, reporting an 11% revenue growth. Fourth-quarter revenues rose to $930.0 million from $839.4

Pinterest (PINS): Here are a few points to keep in mind if you have an eye on this stock

Shares of Pinterest Inc. (NYSE: PINS) stayed in green territory on Monday. The stock has dropped 40% year-to-date and 62% in the past 12 months. There is a mixed sentiment

Stock Watch : Here’s What You Need to Know before investing in Kellogg (K)

Food companies have performed better than most other sectors during the pandemic as government restrictions forced people to cook at home. Investors, in general, find the stocks of such companies

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top