Q1 2025 Aurora Cannabis Inc Earnings Call Transcript
Key Points
- Aurora Cannabis Inc (ACB) reported a 12% increase in net revenue to $83.4 million compared to the same period last year.
- The company achieved record revenue in Canadian and international medical cannabis, as well as in plant propagation.
- Adjusted EBITDA rose by 87%, marking the seventh consecutive quarter of positive adjusted EBITDA.
- Aurora Cannabis Inc (ACB) reached positive free cash flow six months earlier than projected.
- The company maintained a strong balance sheet with approximately $182 million in cash and no debt on its cannabis business.
- Consumer cannabis net revenue declined to $11.5 million from $12.8 million a year ago.
- Adjusted gross margin for consumer cannabis decreased to 24% from 26% in the prior year period.
- Plant propagation adjusted gross margin fell to 18% from 22% due to changes in product mix and a prolonged growing season.
- The company does not expect to reach positive free cash flow in Q2 due to several significant annual and one-time cash payments.
- Sales in Poland softened in Q1 compared to the same period last year due to the import permit process.
Hello, everyone, and welcome to the Aurora Cannabis Incorporated fiscal first quarter 2025 conference call. (Operator Instructions) This conference call is being recorded today, Wednesday, August 7, 2024. (Operator Instructions)
I will now turn the conference over to your host, Kevin Niland, Director, Strategic Finance and Investor Relations. Please go ahead.
Hello, everyone, and thank you for joining us. On the line with me are Miguel Martin, CEO; and Simona King, CFO. This morning, Aurora issued a news release announcing our fiscal 2025 first quarter financial results. Financial statements, MD&A and this news releases are available on our IR website can also be accessed via SEDAR+ and EDGAR.
For today's conference call, listeners are reminded that certain matters could constitute forward-looking statements and are subject to risks and uncertainties related to our future financial or business performance. Actual results could differ materially from those anticipated
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