Top Performer’s Surge in the Cannabis SectorIn February 2024, top Canadian cannabis stocks showed mixed performance amid evolving market dynamics. Companies like Canopy Growth, Aurora Cannabis, and Tilray Brands remained focal points for investors. Market movements were influenced by quarterly earnings reports, with some companies exceeding expectations and others falling short. This period saw significant attention to operational efficiencies and international expansion efforts. Additionally, updates on pr ...

Company Performance - Aurora Cannabis Inc. reported a quarterly loss of $0.02 per share, compared to the Zacks Consensus Estimate of a loss of $0.01, and a loss of $0.14 per share a year ago, indicating an earnings surprise of -100% [1] - The company posted revenues of $53.34 million for the quarter ended December 2023, surpassing the Zacks Consensus Estimate by 16.10%, and up from $50.95 million year-over-year [1] - Over the last four quarters, Aurora has surpassed consensus revenue estimates three times [1] Stock Performance - Aurora Cannabis Inc. shares have declined approximately 16.8% since the beginning of the year, while the S&P 500 has gained 4.7% [2] - The current consensus EPS estimate for the upcoming quarter is breakeven on revenues of $51.14 million, and -$0.07 on revenues of $197.29 million for the current fiscal year [4] Industry Outlook - The Medical - Products industry, to which Aurora belongs, is currently in the bottom 33% of over 250 Zacks industries, indicating potential challenges for stock performance [5] - Another company in the same industry, Perrigo, is expected to report quarterly earnings of $0.83 per share, reflecting a year-over-year change of +10.7%, with revenues projected at $1.19 billion, up 2.7% from the previous year [5]

Aurora Cannabis Inc. (NASDAQ:ACB) Q3 2024 Earnings Conference Call February 8, 2024 8:00 AM ET Company Participants Ananth Krishnan - VP, Corporate Development & Strategy Miguel Martin - CEO Glen Ibbott - CFO Conference Call Participants Frederico Gomes - ATB Capital Markets Matt Bottomley - Canaccord Tamy Chen - BMO Capital Markets Douglas Miehm - RBC Capital Markets Pablo Zuanic - Zuanic Associates Operator Greetings, and welcome to the Aurora Cannabis Third Quarter 2024 Results Conference Call. All parti ...

Aurora Cannabis (NASDAQ:ACB) stock is climbing higher on Thursday after completing its acquisition of MedReleaf Australia.Aurora Cannabis used a wholly-owned subsidiary to acquire the 90% stake in MedReleaf Australia that it didn’t already own. The deal is worth $50 million with Aurora Cannabis paying $9.45 million in cash and the remaining in ACB stock.The acquisition of MedReleaf Australia gives Aurora Cannabis a firm footing in the medical cannabis market in Australia. This market is valued at $400 milli ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Aurora Cannabis Inc (NASDAQ: ACB) is in focus today after buying the remaining 90% stake in MedReleaf Australia for about AU$50 million ($32.45 million).Details of Aurora-MedReleaf transactionCopy link to sectionThe licensed cannabis producer paid $9.45 million in cash and the remaining in stock. Aurora caught interest in buying MedReleaf because it’s currently the second largest player in medical cannabis in Australia. Miguel Martin – chief executive of the Edmonton-headquartered firm said in a press relea ...

Core Insights - Aurora Cannabis Inc. reaffirms its commitment to achieving positive free cash flow in the current calendar year and reports its fifth consecutive quarter of positive adjusted EBITDA [1][3] - The company has become the largest global medical cannabis company in nationally legal markets following the acquisition of MedReleaf Australia, which is expected to enhance its revenue and EBITDA [2][3] - Aurora's international medical net revenue grew by 41% year-over-year, indicating strong demand and market expansion [2][5] Financial Performance - Total net revenue for Q3 2024 was $64.4 million, a 5% increase from $61.1 million in the prior year period, driven by growth in the global medical cannabis business [4][12] - Medical cannabis net revenue reached $45.1 million, a 16% increase from the prior year quarter, contributing 70% of total consolidated net revenue [5][12] - Adjusted gross margin before fair value adjustments improved to 50% in Q3 2024, up from 46% in the prior year quarter [4][12] Operational Highlights - The company reported a cash position of over $200 million as of the quarter close, with remaining convertible debt of $7.3 million expected to be fully repaid in February 2024 [1][11] - Adjusted SG&A expenses were $27.5 million in Q3 2024, reflecting effective cost control measures [8][12] - The average net selling price of dried cannabis was $4.77, a slight increase from $4.71 in the prior year [13][12] Future Expectations - For fiscal Q4 2024, the company anticipates steady revenue from Canadian medical and consumer segments, with modest growth expected in Europe and Australia [10][12] - Continued positive adjusted EBITDA is expected in Q4 2024, supported by revenue increases and ongoing cost control [10][12] - The company aims to achieve $40 million in annualized cost efficiencies by the end of the fiscal year [3][12]

Core Viewpoint - Aurora Cannabis Inc. has acquired the remaining 90% equity interest in MedReleaf Australia for an enterprise value of AUD$50 million, positioning itself as the largest global medical cannabis company in legally operating markets [2][5][9]. Company Overview - Aurora Cannabis is a leading global medical cannabis company based in Canada, with a focus on both medical and consumer markets [10]. - The company operates under various brands, including MedReleaf, CanniMed, and Aurora, and is committed to high-quality cannabis products [10]. Transaction Details - The acquisition of MedReleaf Australia involved a cash payment of AUD$9.45 million and the issuance of approximately 69.5 million common shares of Aurora [2][9]. - MedReleaf Australia is a significant player in the Australian medical cannabis market, which is valued at approximately AUD$400 million [2][3]. Market Position and Growth - The Australian medical cannabis market is rapidly growing, characterized by a clinician-led distribution model that aligns with Aurora's operational strategies in other markets like Germany [3][7]. - MedReleaf Australia generated trailing 12-month net revenue of approximately AUD$40 million as of December 31, 2023, and was adjusted EBITDA positive [8]. Strategic Rationale - The acquisition strengthens Aurora's presence in Australia, enhancing its global cannabis leadership and aligning with its strategy to invest in sustainable growth markets [5][7]. - The transaction is expected to improve revenue contributions and gross margins, further aligning Aurora's Australian operations with its profitable international markets [7][8]. Future Outlook - The transaction is anticipated to be immediately accretive to Adjusted EBITDA and will support Aurora's goal of achieving positive free cash flow in calendar 2024 [2][5][8].

The Leading Cannabis ETFs to Consider in 2024Cannabis ETFs are garnering attention in 2024 as the industry shows promising growth. Key players like MJ, MSOS, and CNBS dominate this sector. These ETFs offer diversified exposure to cannabis-related stocks. This includes companies involved in cultivation, production, and retail. The U.S. cannabis industry has seen remarkable growth. Statistics reveal a projected market size of over $30 billion by 2025. This growth is fueled by expanding legalization and increa ...

The last decade saw a trend for destigmatization of the use of psychoactive substances accompanied by a wave of legislation either legalizing or decriminalizing mostly marijuana-based products – both for medical and recreational use.These developments brought the creation of numerous firms focusing on cannabis products, and many of them have become popular publicly traded companies and exciting investment opportunities.Now, a new Food and Drug Administration (FDA) report stating that Marijuana is eligible f ...