Welcome to our dedicated page for Aurora Cannabis Common Shares news (Ticker: ACB), a resource for investors and traders seeking the latest updates and insights on Aurora Cannabis Common Shares stock.
Aurora Cannabis Inc. (NASDAQ: ACB, TSX: ACB) is a prominent Canadian company headquartered in Edmonton, Alberta, dedicated to the cultivation, production, and sale of high-quality cannabis for both medical and recreational use. The company's state-of-the-art facilities in Alberta embody advanced cultivation techniques that ensure the highest standards of quality, reliability, and safety in their products. Aurora's comprehensive portfolio includes renowned brands like Drift, San Rafael '71, Daily Special, Whistler, Being, and Greybeard, catering to a wide range of consumer preferences.
Aurora's operations extend beyond Canada, with significant international presence through medical cannabis exporting agreements. A notable subsidiary, Australis Capital Inc., plays a crucial role in participating in the U.S. cannabis market. The company's commitment to quality is further highlighted by its EU-GMP and TGA-GMP certified production facilities, ensuring compliance with rigorous international standards.
In recent developments, Aurora has launched three new cannabis-infused beverages targeted initially at veteran patients. These products, featuring innovative SōRSE® emulsion technology, offer an alternative form of cannabis consumption without the strong cannabis aroma or taste. Available in flavors like Neon Rush, Strawberry Pineapple Tropical Fizz, and Pineapple Coconut Fizz, these beverages are designed to enhance patient wellbeing with a refreshing and potent experience.
Financially, Aurora has achieved significant milestones, including the repayment of nearly $465 million in convertible debt and forecasting positive free cash flow for calendar 2024. The company has also strengthened its global footprint by acquiring MedReleaf Australia's majority equity, further solidifying its position in the Australian market. Aurora’s commitment to financial discipline and strategic expansions underscores its potential for sustainable growth.
Aurora's dedication to innovation and patient care is exemplified through its continuous development of new products and partnerships. Their recent launches include resin cartridges and pastilles in Australia, expanding their product range and enhancing patient access to premium medical cannabis. Additionally, the company's strategic moves in Europe, particularly in Germany, position it as a leader in the evolving cannabis landscape.
With a robust pipeline of products and strategic market expansions, Aurora Cannabis Inc. continues to pave the way for significant advancements in the global cannabis industry, committed to improving lives through high-quality, innovative cannabis products.
Aurora Cannabis Inc. (NASDAQ: ACB) announced a bought deal financing agreement to sell 51.1 million units at US$2.45 per unit, totaling approximately US$125.2 million. Each unit includes one common share and a warrant, exercisable for three years at US$3.20. The underwriters have a 30-day option to purchase 15% more units. The gross proceeds are intended for general corporate purposes. The offering is expected to close around June 1, 2022, subject to regulatory approvals.
Aurora Cannabis Inc. (NASDAQ: ACB) announced that its new medical cannabis production facility in Leuna, Germany has received EU-GMP certification. This milestone enables Aurora to produce and distribute premium medical cannabis in Germany, a market currently serving about 100,000 patients, presenting significant growth potential. The facility, awarded a contract in 2019 for 1,000 kg of cannabis annually over four years, is set to begin shipments to German pharmacies by month-end. CEO Miguel Martin emphasized the company’s commitment to high-quality production and expanding patient access in Germany.
Aurora Cannabis (ACB) reported Q3 2022 results, highlighting a 8% year-over-year increase in medical cannabis revenue to $39.4 million, driven by a 55% rise in international sales. The company has increased its expense savings target to $150-$170 million by H1 2023, up from $60-$80 million. Adjusted EBITDA loss narrowed to $12.3 million, showing improvement from prior quarters. Despite a 17% sequential decline in total revenue to $50.4 million, management remains optimistic about achieving positive adjusted EBITDA by mid-2023. The balance sheet is strong with $480.6 million in cash.
Aurora Cannabis has completed its acquisition of TerraFarma Inc., parent company of Thrive Cannabis, for an initial $38 million in cash and shares. Additionally, up to $30 million may be paid out based on Thrive meeting revenue targets within two years. This acquisition aims to strengthen Aurora's position in Canada's recreational cannabis market, focusing on premium products. Former Thrive CEO Geoff Hoover joins Aurora as SVP, Consumer, expected to enhance product quality and consumer offerings.
Aurora Cannabis announced a conference call scheduled for May 12, 2022, at 5:00 p.m. Eastern Time to discuss its third quarter fiscal year 2022 results. The financial results will be released after market close on the same day. CEO Miguel Martin and CFO Glen Ibbott will host the call, which will include a Q&A session. Aurora, a leader in the cannabis industry, continues to focus on innovation and quality in its product offerings for both medical and consumer markets.
Aurora Cannabis has announced its agreement to acquire Thrive Cannabis, parent company of the award-winning Greybeard brand, for $38 million. The acquisition is expected to close in Q4 fiscal 2022 and aims to enhance Aurora's position in the Canadian recreational market. This strategic move is projected to contribute immediate positive EBITDA and support Aurora’s goal of achieving profitability by H1 fiscal 2023. Thrive's experienced team will lead the Canadian recreational business, focusing on premium product offerings and leveraging innovative cultivation techniques.
Aurora Cannabis reported global cannabis net revenue of $60.6 million for Q2 2022, a 1% increase sequentially. The company achieved an Adjusted EBITDA loss of $9.0 million, improved by 22% compared to Q1 2022. Aurora expects to achieve total cost savings of $60 to $80 million by H1 2023, with approximately $60 million implemented to date. Medical cannabis revenue surged by 18% year over year to $45.7 million, while consumer cannabis revenue fell 48% to $14.8 million. The company remains a leading player in the global medical cannabis market, experiencing a 24% increase in international revenue.
Aurora Cannabis Inc. (NASDAQ: ACB) announced the launch of KG7, a new high-quality CBD product line under its subsidiary Reliva, aimed at adult consumers with active lifestyles. The KG7 lineup includes gummies, topical creams, CBD oils, and drink mixes, all made from 100% hemp-derived CBD isolate and free of THC. Reliva aims to solidify its brand as the leading CBD provider in brick-and-mortar stores in the U.S. The products are available for purchase online and in various convenience stores across the United States.
Aurora Cannabis Inc. (NASDAQ: ACB) has announced a conference call scheduled for February 10, 2022, at 5:00 p.m. ET to discuss its second quarter fiscal year 2022 results, which will be published that same day after market close. The call will be hosted by CEO Miguel Martin and CFO Glen Ibbott, who will address inquiries from investors through a designated weblink. Aurora is a leading global cannabis company committed to providing high-quality products across medical and consumer markets, with a strong brand portfolio.
Aurora Cannabis (ACB) has announced the delivery of a C$10 million shipment of medical cannabis to Israel, marking its largest ever export to the country. This shipment, delivered in December, will be recognized as revenue in Aurora's FY22 Q2 period. The company continues to expand its international presence, solidifying its position as a leading Canadian licensed producer by revenue. Aurora is also engaged in a joint venture in The Netherlands for a Controlled Cannabis Supply Chain Experiment, reflecting its commitment to growth in international markets.
FAQ
What is the current stock price of Aurora Cannabis Common Shares (ACB)?
What is the market cap of Aurora Cannabis Common Shares (ACB)?
What is Aurora Cannabis Inc. primarily known for?
Where is Aurora Cannabis Inc. headquartered?
What are some of the brands under Aurora Cannabis?
What recent products has Aurora Cannabis launched?
What is Aurora's financial outlook for 2024?
What significant acquisitions has Aurora made recently?
What certifications do Aurora's production facilities hold?
How does Aurora contribute to the U.S. cannabis market?
What international operations does Aurora have?
How does Aurora ensure the quality of its products?
