Q4 growth in medical cannabis while sonsumer segment declines materially

Added on 21 June 2024

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Q4 growth in medical cannabis while sonsumer segment declines materially

Aurora Cannabis (TSX: ACB) saw revenue of $67.4 million in its fiscal fourth quarter on a net basis. The topline figure grew by 5% on a year over year basis, which the company largely attributes to strong growth in its global medical cannabis business, which saw growth of 20%.

The firms fiscal year 2023 notably consisted of only three quarters as a result of modifying the fiscal year. The results are for the period ended March 31, 2024.

Revenue during the quarter was largely attributable to the medical segment, which posted 20% growth year over year, ending the quarter at $45.6 million. Consumer cannabis meanwhile declined by 29%, falling to $10.2 million. Plant propagation fell by a less dramatic 3%, to produce revenues of $10.4 million during the quarter.

A total of 15,179 kilograms of cannabis were sold during the period, an 8% decline year over year, while the average net price of cannabis, excluding bulk sales, improved 13% to $5.37 per gram.