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Will Aurora Cannabis’ Lackluster Quarter Kill The Current Rally In The Stock?

Nov 10, 2020 • 7:25 AM EST
2 MIN READ  •  By Michael Berger
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Earlier this week, Aurora Cannabis Inc. (ACB.TO) (ACB) traded higher after releasing first quarter financial results for the period that ended on September 30th.

During the quarter, Aurora Cannabis recorded a $57.9 million Adjusted EBITDA loss on $67.8 million of revenue. When compared to the prior quarter, the company generated slightly more revenue and we will monitor the quarterly rate of change from a revenue standpoint on a going forward basis.

As of November 6th, Aurora Cannabis reported to have approx. $250 million of cash or cash equivalents on hand. Although the company’s quarterly cash burn rate has declined, we believe the business will continue to need to raise capital in order to execute on previously announced growth initiatives.

During the quarter, Aurora Cannabis recorded an increase in net cannabis revenue benefited from having leverage to international medical cannabis markets. On a quarter-over-quarter basis, the international medical cannabis business grew by 41% and this is an important vertical for it.

The margins that are associated with the sale of medical cannabis in international markets are higher than Canada. By having more leverage to the international side of the business, profitability metrics should start to quickly improve and this is a trend that we will continue to follow.

A few months ago, Aurora Cannabis announced the acquisition of Reliva, a US CBD brand. The new management team comes from Reliva and we are cautiously optimistic with the direction the business is heading. We believe the US CBD market is saturated and will monitor how Aurora Cannabis can capitalize on it.

So far this month, Aurora Cannabis’ stock has surged higher and this a trend that caught our attention. Momentum is trending to the upside and is approaching overbought levels. We will keep an eye on how the company benefits from a change in administration in the US and will provide updates on the opportunity as needed.

If you are interested in learning more about Aurora Cannabis’ US growth strategy, please send an email to support@technical420.com with the subject “Aurora Cannabis” to be added to our distribution list.

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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.

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