Aurora Cannabis, Inc. (NASDAQ: ACB) on Friday reported a narrower net loss for the second quarter of 2023. The company’s revenues moved up 2% year-over-year during the quarter.
The Canada-based medical marijuana company reported a net loss from continuing operations of C$67.2 million for the second quarter, compared to a loss of C$75.1 million in the year-ago period. Adjusted EBITDA was C$1.4 million during the three-month period, compared to a loss of C$7.1 million in the prior-year quarter. Total revenues increased 2% annually to C$61.7 million.
Read management/analysts’ comments on quarterly reports
“We have right-sized our business while remaining the #1 Canadian LP in global medical cannabis revenues, and having demonstrated organic quarter-over-quarter revenue growth across all of our cannabis segments during Q2 2023,” said Miguel Martin, chief executive officer of Aurora Cannabis.
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