[Condensed Consolidated Interim Financial Statements](index=1&type=section&id=Condensed%20Consolidated%20Interim%20Financial%20Statements) [Condensed Consolidated Interim Statements of Financial Position](index=3&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Financial%20Position) Total assets decreased to **$808.8 million** as of September 30, 2024, from **$838.7 million**, with liabilities and equity also declining Consolidated Balance Sheet Highlights (in thousands of CAD) | Account | September 30, 2024 | March 31, 2024 | Change | | :--- | :--- | :--- | :--- | | Cash and cash equivalents | $84,921 | $113,439 | ($28,518) | | Inventory | $170,986 | $143,602 | $27,384 | | Total Assets | $808,774 | $838,673 | ($29,899) | | Total Liabilities | $225,801 | $236,803 | ($11,002) | | Total Equity | $582,973 | $601,870 | ($18,897) | [Condensed Consolidated Interim Statements of Loss and Comprehensive Loss](index=4&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Loss%20and%20Comprehensive%20Loss) Net income from continuing operations was **$6.5 million** for the six months ended September 30, 2024, with total net loss improving to **$7.8 million** despite discontinued operations Performance Summary (in thousands of CAD) | Metric | Six Months Ended Sep 30, 2024 | Six Months Ended Sep 30, 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Net Revenue | $164,557 | $137,851 | +19.4% | | Gross Profit | $86,711 | $60,421 | +43.5% | | Income (Loss) from Operations | ($1,515) | ($25,246) | Improvement | | Net Income (Loss) from Continuing Operations | $6,519 | ($19,758) | Turnaround | | Net Loss from Discontinued Operations | ($14,336) | ($10,700) | Increased Loss | | Net Loss | ($7,817) | ($30,458) | Reduced Loss | Earnings (Loss) Per Share | Per Share Data | Six Months Ended Sep 30, 2024 | Six Months Ended Sep 30, 2023 | | :--- | :--- | :--- | | Continuing Operations (Basic & Diluted) | $0.16 | ($0.45) | | Discontinued Operations (Basic & Diluted) | ($0.26) | ($0.29) | | Total Operations (Basic & Diluted) | ($0.10) | ($0.74) | [Condensed Consolidated Interim Statements of Changes in Equity](index=6&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Changes%20in%20Equity) Total equity decreased by **$18.9 million** to **$583.0 million** due to a **$16.0 million** comprehensive loss for the six months ended September 30, 2024 Equity Reconciliation (in thousands of CAD) | Description | Amount | | :--- | :--- | | Balance, March 31, 2024 | $601,870 | | Comprehensive loss for the period | ($16,046) | | Put option liability adjustment | ($7,987) | | Share-based compensation & issuance | $5,242 | | Other | ($106) | | **Balance, September 30, 2024** | **$582,973** | [Condensed Consolidated Interim Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Interim%20Statements%20of%20Cash%20Flows) Cash and cash equivalents decreased by **$28.5 million** to **$84.9 million** for the six months ended September 30, 2024, with **$16.5 million** used in operating activities Cash Flow Summary (in thousands of CAD) | Activity | Six Months Ended Sep 30, 2024 | Six Months Ended Sep 30, 2023 | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | ($16,516) | ($42,119) | | Net Cash Used in Investing Activities | ($2,824) | ($6,137) | | Net Cash Provided by (Used in) Financing Activities | ($3,242) | ($58,208) | | **Decrease in Cash and Cash Equivalents** | **($28,518)** | **($106,025)** | | Cash and Cash Equivalents, Beginning of Period | $113,439 | $234,942 | | **Cash and Cash Equivalents, End of Period** | **$84,921** | **$128,917** | [Notes to the Condensed Consolidated Interim Financial Statements](index=9&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Interim%20Financial%20Statements) [Note 1: Nature of Operations](index=9&type=section&id=Note%201%3A%20Nature%20of%20Operations) Aurora Cannabis Inc. produces and distributes medical and consumer cannabis globally, also holding a **50.1%** interest in Bevo Agtech Inc., a plant propagation supplier - The company's principal business lines focus on **cannabis-related products** in Canada and international markets[15](index=15&type=chunk) - Key business activities include **medical and consumer cannabis** in Canada, and **wholesale medical cannabis distribution** in the EU, Australia, and other international markets[21](index=21&type=chunk) - Aurora holds a **50.1% controlling interest** in Bevo Agtech Inc., a North American plant propagation business[15](index=15&type=chunk) [Note 2: Material Accounting Policies and Judgments](index=9&type=section&id=Note%202%3A%20Material%20Accounting%20Policies%20and%20Judgments) Financial statements adhere to IFRS and IAS 34, consolidating subsidiaries and reporting discontinued operations separately, with IAS 1 amendments having no material impact - The financial statements adhere to **International Financial Reporting Standards (IFRS)** and **International Accounting Standards (IAS) 34** for interim reporting[17](index=17&type=chunk) - Effective **April 1, 2024**, the company adopted amendments to IAS 1 regarding the classification of liabilities as current or non-current, with **no impact** on the financial statements[24](index=24&type=chunk) - The company is currently assessing the impact of **IFRS 18**, which will replace IAS 1 for reporting periods beginning on or after **January 1, 2027**[26](index=26&type=chunk)[27](index=27&type=chunk) [Note 3: Biological Assets](index=11&type=section&id=Note%203%3A%20Biological%20Assets) Biological assets totaled **$41.2 million** as of September 30, 2024, a slight decrease, primarily cannabis and propagation plants, with valuation sensitive to market factors Biological Assets Breakdown (in thousands of CAD) | Category | September 30, 2024 | March 31, 2024 | | :--- | :--- | :--- | | Indoor cannabis production | $22,995 | $21,522 | | Plant propagation production | $17,757 | $21,252 | | Outdoor cannabis production | $460 | $0 | | **Total** | **$41,212** | **$42,774** | - The weighted average fair value less cost to complete and sell for indoor cannabis was **$4.39 per gram**, up from **$3.76 per gram** at March 31, 2024[29](index=29&type=chunk) [Note 4: Inventory](index=12&type=section&id=Note%204%3A%20Inventory) Inventory increased to **$171.0 million** at September 30, 2024, primarily in harvested cannabis, with **$133.7 million** expensed to cost of sales and **$30.8 million** in provisions Inventory Carrying Value (in thousands of CAD) | Category | September 30, 2024 | March 31, 2024 | | :--- | :--- | :--- | | Harvested cannabis | $133,011 | $104,149 | | Extracted cannabis | $21,533 | $22,441 | | Supplies and consumables | $14,443 | $14,987 | | Merchandise and accessories | $1,999 | $2,025 | | **Total** | **$170,986** | **$143,602** | - For the six months ended September 30, 2024, inventory expensed to cost of sales was **$133.7 million**, compared to **$120.2 million** in the prior year period[32](index=32&type=chunk) [Note 5: Property, Plant and Equipment](index=13&type=section&id=Note%205%3A%20Property%2C%20Plant%20and%20Equipment) PP&E net book value decreased to **$276.5 million** as of September 30, 2024, mainly due to **$14.1 million** depreciation, partially offset by **$14.7 million** additions PP&E Net Book Value (in thousands of CAD) | Category | September 30, 2024 | March 31, 2024 | | :--- | :--- | :--- | | Total owned assets | $246,542 | $263,590 | | Total right-of-use lease assets | $29,940 | $30,734 | | **Total PP&E** | **$276,482** | **$294,324** | - During the six months ended September 30, 2024, the company recognized **$14.1 million** in depreciation expense, of which **$8.4 million** was included in cost of sales[34](index=34&type=chunk) [Note 6: Assets and Liabilities Held for Sale and Discontinued Operations](index=14&type=section&id=Note%206%3A%20Assets%20and%20Liabilities%20Held%20for%20Sale%20and%20Discontinued%20Operations) Uruguayan operations were classified as held for sale, incurring an **$11.6 million** impairment loss, contributing to a **$14.3 million** net loss from discontinued operations [Assets and Liabilities Held for Sale](index=14&type=section&id=6%28a%29%20Assets%20and%20Liabilities%20Held%20for%20Sale) - In **June 2024**, the company decided to exit its operations in Uruguay (ICC Labs Inc.), reclassifying its assets and liabilities to '**held for sale**'[35](index=35&type=chunk) - An impairment loss of **$11.6 million** was recognized during the six months ended September 30, 2024, to record the assets held for sale at their fair value less costs to sell[36](index=36&type=chunk) [Discontinued Operations](index=14&type=section&id=6%28b%29%20Discontinued%20Operations) Net Loss from Discontinued Operations (in thousands of CAD) | Period | 2024 | 2023 | | :--- | :--- | :--- | | Three months ended Sep 30 | ($14,640) | ($2,566) | | Six months ended Sep 30 | ($14,336) | ($10,700) | - Discontinued operations include the closures of the **Aurora Nordic facility**, **Reliva**, the dissolution of the **Growery B.V. partnership**, and the exit from **ICC operations in Uruguay**[37](index=37&type=chunk) [Note 7: Intangible Assets and Goodwill](index=15&type=section&id=Note%207%3A%20Intangible%20Assets%20and%20Goodwill) Intangible assets totaled **$42.1 million** and goodwill **$43.2 million** as of September 30, 2024, with goodwill allocated to Cannabis and Plant Propagation segments Intangible Assets and Goodwill (in thousands of CAD) | Category | September 30, 2024 | March 31, 2024 | | :--- | :--- | :--- | | Total intangible assets | $42,098 | $40,850 | | Goodwill | $43,180 | $43,180 | | **Total** | **$85,278** | **$84,030** | - Goodwill is allocated to the Cannabis segment (**$24.5 million**) and the Plant Propagation segment (**$18.7 million**)[39](index=39&type=chunk) [Note 8: Loans and Borrowings](index=16&type=section&id=Note%208%3A%20Loans%20and%20Borrowings) Loans and borrowings totaled **$57.5 million** as of September 30, 2024, primarily through Bevo, with ongoing discussions to extend Term Facility 1 maturity Loans and Borrowings Continuity (in thousands of CAD) | Description | Amount | | :--- | :--- | | Balance, March 31, 2024 | $57,259 | | Drawings | $6,346 | | Principal repayments | ($6,108) | | **Balance, September 30, 2024** | **$57,510** | - As of September 30, 2024, borrowings consisted of **$34.5 million** from Term Facility 1, **$4.0 million** from Term Facility 2, and **$16.5 million** from the revolver[43](index=43&type=chunk)[44](index=44&type=chunk)[45](index=45&type=chunk) [Note 9: Lease Liabilities](index=17&type=section&id=Note%209%3A%20Lease%20Liabilities) Lease liabilities decreased to **$43.5 million** as of September 30, 2024, from **$47.5 million**, due to payments, modifications, and reclassification from discontinued operations Lease Liabilities Continuity (in thousands of CAD) | Description | Amount | | :--- | :--- | | Balance, March 31, 2024 | $47,532 | | Lease additions | $6,106 | | Lease payments | ($4,187) | | Transfer to liabilities held for sale | ($1,326) | | Lease modifications | ($6,418) | | Other (FX, Interest) | $1,753 | | **Balance, September 30, 2024** | **$43,460** | [Note 10: Share Capital](index=17&type=section&id=Note%2010%3A%20Share%20Capital) As of September 30, 2024, **54,862,958** common shares were outstanding, alongside **7,066,027** warrants with a weighted average exercise price of **$43.74** - At September 30, 2024, there were **54,862,958 Common Shares** issued and outstanding[49](index=49&type=chunk) Share Purchase Warrants Outstanding | Description | Warrants () | Weighted Avg. Exercise Price ($) | | :--- | :--- | :--- | | Balance, March 31, 2024 | 7,074,348 | 44.34 | | Expired | (8,321) | 487.95 | | **Balance, September 30, 2024** | **7,066,027** | **43.74** | [Note 11: Share-Based Compensation](index=18&type=section&id=Note%2011%3A%20Share-Based%20Compensation) Share-based compensation expense totaled **$7.5 million** for the six months ended September 30, 2024, with a **$4.2 million** derivative liability for cash-settled plans Share-Based Compensation Expense (Six Months Ended Sep 30, 2024, in thousands of CAD) | Plan | Expense | | :--- | :--- | | Stock Options | $1,600 | | RSUs | $2,700 | | DSUs | $1,100 | | PSUs | $2,100 | | **Total** | **$7,500** | - The company has cash-settled DSU and PSU plans which are classified as **derivative liabilities** As of September 30, 2024, the related liability was **$2.3 million** for DSUs and **$1.9 million** for PSUs[66](index=66&type=chunk)[67](index=67&type=chunk) [Note 12: Income (Loss) Per Share](index=21&type=section&id=Note%2012%3A%20Income%20%28Loss%29%20Per%20Share) Basic and diluted earnings per share from continuing operations was **$0.16**, resulting in a total loss per share of **($0.10)** for the six months ended September 30, 2024 Basic and Diluted Loss Per Share | Per Share Data | Six Months Ended Sep 30, 2024 | Six Months Ended Sep 30, 2023 | | :--- | :--- | :--- | | Continuing Operations | $0.16 | ($0.45) | | Discontinued Operations | ($0.27) | ($0.29) | | **Total Operations** | **($0.22)** | **($0.74)** | [Note 13: Supplemental Cash Flow Information](index=22&type=section&id=Note%2013%3A%20Supplemental%20Cash%20Flow%20Information) Non-cash working capital used **$18.9 million** in cash, and restricted cash totaled **$66.7 million** as of September 30, 2024, including **$39.7 million** for self-insurance - Changes in non-cash working capital used **$18.9 million** in cash for the six months ended September 30, 2024, compared to a use of **$11.0 million** in the prior year period[69](index=69&type=chunk) - As of September 30, 2024, restricted cash of **$66.7 million** included **$39.7 million** for a segregated cell insurance program and **$22.6 million** for self-insurance[69](index=69&type=chunk) [Note 14: Commitments and Contingencies](index=22&type=section&id=Note%2014%3A%20Commitments%20and%20Contingencies) The company faces legal proceedings, including an **$8 million** U.S. class action settlement covered by insurance, and has **$2.9 million** in capital and purchase commitments - A U.S. class action has a preliminary settlement of **$8 million**, which is expected to be covered by insurance[71](index=71&type=chunk) - The company is defending against other claims, including a purported class action in Alberta and a civil claim for **$8.9 million** from a former landlord[75](index=75&type=chunk)[76](index=76&type=chunk) - The company has **$2.9 million** in future capital and purchase commitments payable over the next 12 months[80](index=80&type=chunk) [Note 15: Revenue](index=24&type=section&id=Note%2015%3A%20Revenue) Total net revenue grew **19.4%** to **$164.6 million** for the six months ended September 30, 2024, driven by strong medical cannabis and plant propagation performance Net Revenue by Segment (Six Months Ended Sep 30, in thousands of CAD) | Segment | 2024 | 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Medical Cannabis | $108,517 | $84,831 | +27.9% | | Consumer Cannabis | $21,955 | $25,102 | -12.5% | | Wholesale Bulk Cannabis | $2,370 | $860 | +175.6% | | Plant Propagation | $31,715 | $27,058 | +17.2% | | **Total Net Revenue** | **$164,557** | **$137,851** | **+19.4%** | Net Revenue by Geography (Six Months Ended Sep 30, in thousands of CAD) | Geography | 2024 | 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Canada | $83,369 | $81,293 | +2.6% | | Australia | $24,431 | $13,915 | +75.6% | | Europe | $30,700 | $20,094 | +52.8% | | U.S. | $26,057 | $22,549 | +15.6% | | **Total Net Revenue** | **$164,557** | **$137,851** | **+19.4%** | [Note 16: Segmented Information](index=25&type=section&id=Note%2016%3A%20Segmented%20Information) The Cannabis segment generated **$132.8 million** in net revenue and **$21.2 million** in income, while Plant Propagation had **$31.7 million** revenue and a **$3.5 million** loss Segment Performance (Six Months Ended Sep 30, 2024, in thousands of CAD) | Operating Segment | Net Revenue | Gross Profit before FV Adjustments | Net Income (Loss) before Taxes | | :--- | :--- | :--- | :--- | | Cannabis | $132,842 | $66,373 | $21,215 | | Plant propagation | $31,715 | $4,461 | ($3,453) | - Non-current assets are primarily located in Canada (**$302.7 million**), with smaller holdings in Australia (**$39.4 million**) and the EU (**$29.8 million**)[86](index=86&type=chunk) [Note 17: Fair Value of Financial Instruments](index=27&type=section&id=Note%2017%3A%20Fair%20Value%20of%20Financial%20Instruments) Financial instruments at fair value include a **$54.0 million** Level 3 put option liability and **$4.9 million** in derivative liabilities from warrants and cash-settled units - The 'Other long term liability' of **$54.0 million** includes a put option from the Bevo acquisition, valued at **$53.5 million** using a **Level 3 Monte Carlo simulation**[89](index=89&type=chunk) Financial Instruments at Fair Value (in thousands of CAD) | Instrument | Level 1 | Level 2 | Level 3 | Total | | :--- | :--- | :--- | :--- | :--- | | Other long term liability | $530 | $0 | $53,517 | $54,047 | | Derivative liabilities | $3,053 | $1,874 | $0 | $4,927 | [Note 18: Financial Instruments Risk](index=27&type=section&id=Note%2018%3A%20Financial%20Instruments%20Risk) The company manages credit and liquidity risks, with **$84.9 million** in cash and access to U.S.**$396.4 million** under its Shelf Prospectus for future operations - As of September 30, 2024, **$25.0 million** of accounts receivable were from non-government wholesale customers[92](index=92&type=chunk) Undiscounted Contractual Obligations (in thousands of CAD) | Obligation | Total | ≤1 year | | :--- | :--- | :--- | | Accounts payable and accrued liabilities | $39,032 | $39,032 | | Lease liabilities | $89,394 | $8,282 | | Loans and borrowings | $57,563 | $53,737 | | Capital commitments | $2,858 | $2,858 | | **Total** | **$188,847** | **$103,909** | - The company has access to capital resources including **$84.9 million** in cash and approximately U.S.**$396.4 million** available for issuance under its 2023 Shelf Prospectus[98](index=98&type=chunk)

Aurora Cannabis Inc. (ACB) has announced a research grant for the University of British Columbia (“UBC”) by Genome British Columbia (Genome BC), a not-for-profit organization supporting world-class genomics research and innovation in British Columbia. The collaborative project, titled “Genomics-enabled Aroma Breeding in Cannabis”, will directly support Aurora's genetics work and focus on validating genetic and chemical markers for fruity aroma in cannabis.ACB Stock’s Trend Following the NewsAfter the announ ...

Core Viewpoint - Aurora Cannabis Inc. has announced a leadership transition with CEO Miguel Martin taking on the additional role of Executive Chairman, while outgoing Chairman Ron Funk has been appointed as Lead Independent Director, aiming to strengthen Board leadership and governance as the company pursues global growth [1][2][3]. Leadership Changes - Miguel Martin has been CEO since September 2020 and has successfully driven financial recovery and business transformation during his tenure [2]. - The Board believes that combining the CEO and Chairman roles will enhance leadership consistency and decision-making efficiency [3]. - Ron Funk, who has served as Chairman since 2021, will continue to provide independent leadership as Lead Independent Director [4]. Board Committee Changes - Michael Singer has been reappointed to the Audit Committee and the Human Resource and Compensation Committee, bringing valuable expertise after being considered independent again [5]. - Rajesh Uttamchandani has been appointed to the HRCC and the Nominating & Corporate Governance Committee, contributing his experience in governance and strategy [5]. Company Overview - Aurora Cannabis is a leading global medical cannabis company based in Canada, serving both medical and consumer markets across multiple regions including Canada, Europe, Australia, and South America [6]. - The company offers a diverse portfolio of brands in both adult-use and medical cannabis markets, emphasizing high-quality products and innovation [6].

Industry Overview - The cannabis industry is experiencing significant changes, with innovation being crucial for growth. The current climate and success of companies are closely tied to the performance of marijuana stocks, especially during election years when candidates may propose improvements for the industry [1][2] - There is an ongoing struggle for better laws and regulations, which affects legal operators and small-batch farmers. However, the acceptance of cannabis as a legitimate industry is evolving positively [1] Investment Interest - Increased speculation has led more investors to seek top marijuana stocks, with a growing demand for cannabis products driving companies to enhance profitability [2] Key Companies to Watch - **Aurora Cannabis Inc. (NASDAQ: ACB)**: Engages in the production, distribution, and sale of cannabis and derivatives in Canada and internationally. Recently announced results from its 2024 annual general meeting [4] - **Cronos Group Inc. (NASDAQ: CRON)**: Focuses on the marketing of cannabis products in Canada, Israel, and Germany. Recently launched new products, including live resin vapes and ice water hash prerolls across Canada [6][7] - **Organigram Holdings Inc. (NASDAQ: OGI)**: Involved in the production and sale of cannabis and cannabis-derived products in Canada. Recently closed the second tranche of a private placement investment [8]

The cannabis market is abuzz following former President Donald Trump’s recent comments supporting cannabis legalization in Florida. During a podcast interview, Trump backed the state’s recreational cannabis initiative and emphasized the need for a lawful and regulated framework. This comes as Florida prepares to vote on a ballot initiative in November, which could reshape the cannabis landscape.Get Benzinga’s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for ...

3 Canadian Marijuana Stocks To Buy In The Stock MarketWhen it comes to finding top marijuana stocks to buy which companies would you choose? Now when going through this process there are some things to consider. For the most part, investing in all things is based on the same basic outline which is buy low sell high do your research create a game plan be patient, and try to take profits when you can.But things are a bit more diverse for cannabis investing. For most US-based legal operators in the market, man ...

Core Viewpoint - The U.S. Drug Enforcement Administration (DEA) announced a proposal hearing on the reclassification of marijuana to a Schedule III drug, scheduled for December 2, which has led to a negative reaction in cannabis stocks as market participants speculate on the potential impact of the upcoming presidential election on this decision [1] Company Responses - Canopy Growth Corp (NASDAQ:CGC) experienced a significant decline of 10.3%, trading at $5.54, marking its lowest level in six months. The stock has been on a downward trend since failing to maintain the $8.50 level after a rally in late March, although it still shows a year-over-year increase of 41.4% [1] - Cronos Group Inc (NASDAQ:CRON) saw a decrease of 3.5%, trading at $2.22. The stock has been in penny stock territory since November 2021, with the 80-day moving average limiting its price movements since June. Over the past three months, CRON has lost 17.2% [1] - Aurora Cannabis Inc (NASDAQ:ACB) also reacted negatively, down 5.1% to $6.15. The stock is testing support at the 40-day moving average, which was established in mid-July, after a recent rally failed to reach the $7.20 level. Despite this, ACB is still up 28.4% in 2024 [2]

Aurora Cannabis Inc (NASDAQ:ACB) and Lumen Technologies Inc (NYSE:LUMN) are this week's picks for Schaeffer's Cheap Seats: Stocks Under $20 segment. Though in completely different sectors, both stocks have one thing in common -- their soaring price action today. Plus, each were within penny stock territory within the past couple months.At last glance, ACB was up 5.4% at $6.20 after the Canada-based cannabis company's fiscal first-quarter results. The stock has been seeing pressure near $6.30 for roughly the ...

Aurora Cannabis Inc. (ACB) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.35. This compares to loss of $0.40 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 68.57%. A quarter ago, it was expected that this company would post a loss of $0.18 per share when it actually produced earnings of $0.11, delivering a surprise of 161.11%.Over the last four quarters, the company has s ...

AURORA CANNABIS INC. Condensed Consolidated Interim Financial Statements (Unaudited) For the three months ended June 30, 2024 and 2023 (in Canadian Dollars) Table of Contents | Condensed Consolidated Interim Statements of Financial Position | | | | 3 | | --- | --- | --- | --- | --- | | Condensed Consolidated Interim Statements of Income (Loss) and Comprehensive Income (Loss) | | | | 4 | | Condensed Consolidated Interim Statements of Changes in Equity | | | | 6 | | Condensed Consolidated Interim Statements o ...