• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

'Skills nobody can take': Meet a 20-year-old with a 4.5 GPA who skipped college for technical school to land an 'AI-proof' career

3

China suffers another setback in effort to de-dollarize global finance as anchor in the greenback's dominance quietly exits Beijing's payment scheme

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

'Skills nobody can take': Meet a 20-year-old with a 4.5 GPA who skipped college for technical school to land an 'AI-proof' career

3

China suffers another setback in effort to de-dollarize global finance as anchor in the greenback's dominance quietly exits Beijing's payment scheme

Aurora Cannabis Earnings Report: Big Pot Equals Big Profits

By
Kevin Kelleher
Kevin Kelleher
Down Arrow Button Icon
By
Kevin Kelleher
Kevin Kelleher
Down Arrow Button Icon
September 25, 2018, 8:19 PM ET
Google source logo
Add Fortune on Google for similar content.

Aurora Cannabis has become a recent darling of stock speculators, and on Tuesday it delivered earnings results for its June quarter that may do little to quell the fervor surrounding its shares. The Edmonton, Alberta,-based company said revenue in its fiscal fourth quarter ended June 30 rose 223% to C$19.1 million ($14.7 million), while net income swung to a profit of C$79.9 million from a net loss of C$19.2 million in the same quarter a year ago.

For all of its fiscal year 2018, Aurora Cannabis saw revenue grow by 206% and its net income move to a profit of C$71.9 million from a loss of C$13 million in fiscal 2017.

Overall the amount of cannabis that Aurora produced in 2018 increased by 85% to 5.6 million kilograms, while the amount it sold increased by 111% to 5 million kilograms, the company said. The average net selling price of dried cannabis increased 18% to C$7.65 per gram, while the price of cannabis oil fell 24% last year.

The headline numbers might bode well for Aurora as it prepares to list its shares on a major U.S. exchange like the Nasdaq or the New York Stock Exchange. In its earnings release, the company reiterated those plans. Aurora said it will file a form 40-F with the U.S. Securities and Exchange Commission. That form is filed by Canadian companies wanting to list shares in the U.S. Currently, Aurora is traded on the Toronto Stock Exchange and on the U.S. over-the-counter market.

Other Canadian cannabis companies have listed their shares on U.S. exchanges. Tilray trades on Nasdaq, and Canopy Group trades on the New York Stock Exchange. Both of those stocks, like Aurora’s OTC-listed shares, have posted triple-digit gains since this summer.

U.S. investors may want to take a note of caution about Aurora’s latest earnings report, however. The company says it posted a profit last quarter not so much because its core business operations are profitable but because of an “unrealized, non-cash gain on derivatives and marketable securities.”

Aurora didn’t disclose whether it posted an operating profit or operating loss. That insight may have to wait until the company files the necessary forms with the SEC. In the meantime, Aurora’s stock on the Toronto Exchange is valued at C$12.2 billion, or 220 times its fiscal 2018 revenue and 175 times its net income. That may be high enough to put even the most ardent cannabis enthusiasts to bed for the night.

About the Author
By Kevin Kelleher
See full bioRight Arrow Button Icon

Latest in


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.