Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), a Canadian global company in the cannabis industry, serving both the medical and consumer markets; recently announced its financial and operational results for the fourth quarter and fiscal year ending June 30, 2022.
Fourth Quarter 2022 Highlights:
- Medical cannabis net revenue was $36.6 million, a 4% increase from the prior year period, delivering 72.8% of Aurora's Q4 2022 consolidated net revenue1 and 86.3% of adjusted gross profit before fair value adjustments1.
- The increase in revenue was driven by growth in the international medical business, up 35.4% from the prior year's quarter which was attributed primarily to the Company's increasing presence in key emerging international medical cannabis markets.
- Adjusted gross margin before FV adjustments on medical cannabis net revenue1 was 62% compared to 68% in the prior year period and 64% sequentially.
- Consumer cannabis net revenue1 was $12.6 million, as compared to the prior quarter's net revenue of $10.3 million. The 22.2% increase was primarily due to the addition of Thrive's consumer cannabis net revenues1 of $1.4 million for the period from May 6, 2022, to June 30, 2022.
- Adjusted gross margin before FV adjustments …