Canadian cannabis giant Aurora Cannabis (NASDAQ: ACBreported its financial and operational results Thursday for the fiscal first quarter that ended September 30, 2022, with revenue of CA$49.26 million ($37.14 million), down by 18% from CA$60.11 million in the same period year ago.

Adjusted EBITDA was a loss of CA8.7 million, versus a loss of CA$11.04 million in the corresponding quarter of last year. 

The Analyst

Cantor Fitzgerald’s Pablo Zuanic kept an ‘Overweight’ on the stock and a 12-month price target of $3.00 per share. 

The Thesis 

The company slightly improved cash burn and EBITDA results in this quarter, with management being confident it will reach positive EBITDA by December, partly thanks to its $150-170 million cost savings …

Full story available on Benzinga.com