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- Aurora Cannabis reported first-quarter results on Monday.
- The marijuana grower generated $29.7 million in revenue, up 260% year-over-year.
- Watch Aurora Cannabis trade live.
The marijuana producer Aurora Cannabis jumped 4% early Monday after posting results for the quarter ending September 30. But the stock is down 5% now.
Here are the key numbers:
- Revenue: $29.7 million, +260% year-over-year
- Profit: $104.2 million, +2,826% YoY
- Gross margin on cannabis: 70%, +12 percentage points YoY
- Total kilogram equivalents sold: 2.68 million, +201% YoY
- Production run rate early in 2019: 150,000 kilograms per year
"The commencement of adult consumer use sales in Canada has been very successful for Aurora, with strong performance across all product categories and brands,"CEO Terry Booth said in the press release.
"Our initial roll-out success demonstrates how our high-quality Aurora Standard products and well-positioned brands have resonated strongly with the consumer market and our preparedness for the logistical challenges in effectively bringing our products to market. Given the strong unmet consumer demand evident across Canada, we are confident that our rapidly increasing production capacity will result in continued acceleration of revenue growth."
Shares are down 21% this year.
Now read:
- Weed stocks are getting slammed as worries surface that the new attorney general could be against legalizing marijuana
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- Weed stocks are surging as 2 states vote on legalizing marijuana
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