- Aurora Cannabis saw revenues rise 4x and claimed a strong market share that detailed the first quarter of legal recreational-pot sales in Canada, but also showed off large losses and a shrinking margin.
In Fiscal Q2 2019, for the three months ended December 2018, Aurora Canabis (NYSE:ACB) accounted for 20% all marijuana sold across Canada since the drug was legalized last October.
The company revenues surged to C$54.2 million, more than quadrupling from the same time last year. However, due to costs of ramping up its production and distribution operations, ACB reported lower margins and a quarterly loss of C$237.8 million.
Investors are hoping that economies of scale and an improving retail infrastructure in Canada will result in higher margins for Aurora Cannabis. The company is now shipping marijuana to more than 20 countries, with the latest being the United Kingdom.
Article By: Fatimah Aminu
Fatimah is an experienced editor at various financial and consumer publishing houses. She obtained a master’s degree in Publishing from NYU, where she earned a bachelor of fine arts degree. She is currently earning a second masters degree at CUNY online in Psychology. Fatimah covers healthcare, cannabis and technology.