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Shares of Aurora Cannabis Inc.
CBA -3.57%
The Canadian-based cannabis company announced Monday a net profit of $ 105 million, against $ 3.6 million a year ago, and $ 79.9 million in the previous quarter. Total revenues increased 260 per cent over the previous year and 55 per cent over the previous quarter, while cannabis-related revenues jumped 236 per cent over the previous year and 65 per cent over the previous year. in the previous quarter to reach $ 24.6 million. The average selling price per gram of dried cannabis increased by 15% over the previous year to $ 8.39, while the cash cost per gram decreased by 12% to $ 1.90. For cannabis extracts, the net selling price per gram decreased by 26% to $ 12.12, while costs decreased by 22% to $ 1.45. Active enrolled patients increased by 250% to 67,484. The increase in the Company's net income is mainly due to unrealized non-cash gains on derivatives and marketable securities. "The sales debut for adult consumers in Canada has been very successful for Aurora, with strong performance across all product categories and brands," said Executive Director Terry Booth. "Given the strong unmet consumer demand in Canada, we are confident that our rapidly growing production capacity will drive continued growth in revenue growth." The stock has risen 58% in the last three months, while the MG Alternative Harvest ETF
MJ -5.66%
climbed 22% and the S & P 500
SPX, -0.92%
slipped 1.8%.
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