- It's the first earnings report for Aurora (NYSE:ACB) since Miguel Martin was named as the new CEO on September 8. For 2020 FQ4, the company lost $1.9B; for all of fiscal 2020, the company lost $3.3B.
- Fiscal 2021 Q1 guidance sees net revenue of $60M-$64M vs. $67.5M in the just-reported 2020 FQ4. Adjusted gross margin before fair value adjustments on cannabis net revenue is seen at 46%-50%, with SG&A costs in the low-$40M range.
- Adjusted gross margin before fair value adjustments on cannabis net revenue was 50% in FQ4 and 43% in FQ3. SG&A in FQ4 was $63.8M.
- The company expects to achieve positive adjusted EBITDA in FQ2. That compares to adjusted EBITDA loss of $34.6M in FQ4 and loss of $50.4M in FQ3.
- The conference call is underway. Webcast here.
- Shares -10% after-hours. Falling in concert are Tilray (NASDAQ:TLRY) -2.9% and Cronos (NASDAQ:CRON) -1.7%.
- Previously: Aurora Cannabis beats on revenue (Sept. 22)