Aurora Cannabis reports $75.1M Q2 loss as revenues fall by 10 per cent

EDMONTON – Aurora Cannabis Inc. reported a $75.1 million loss in its most recent quarter as its net revenue and quantities of cannabis sold also dropped.

The Edmonton-based pot company says its second quarter loss was an improvement from the $297.9 million loss it recorded during the same period the year prior.

Aurora says its basic and diluted loss per share for the period ended Dec. 31 amounted to 38 cents compared with $1.77 in the second quarter of last year.

Net revenue for the quarter totalled $60.6 million, down 10 per cent from $67.6 million in the same period last year.

Aurora's consumer cannabis net revenue fell 48 per cent to $14.8 million in the quarter from $28.5 million during the same time last year.

When compared with the second quarter of 2021, Aurora says it sold 14 per cent fewer kilograms of cannabis and the average net selling price of dried pot excluding bulk sales dropped six per cent to $4.20.

This report by The Canadian Press was first published Feb. 10, 2022.

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