Features

Medical cannabis sales booming at Aurora

Published on February 21, 2025 by Pat Bulmer

Photo: Contributed

The medical cannabis business is booming for Edmonton company, Aurora Cannabis.

Worldwide medical cannabis sales were mostly responsible for a record-setting financial quarter, Aurora reported

Total net revenue was $88.2 million, up 37% year over year, the company said in a financial statement released on Feb. 5, “including record net revenue of $68.1 million in global medical cannabis, up 51%.”

“This quarter was record-breaking for Aurora,” said CEO Miguel Martin in a news release. “These achievements, along with our strong cash position and debt-free cannabis business, underscore Aurora’s leadership in the global cannabis industry.”

Aurora also reported its “plant propagation segment (BC-based Bevo Farms) increased 22%.”

Medical cannabis sales were up in Australia, Germany, Poland, and the U.K. Revenues also grew in Canada.

Aurora’s consumer cannabis net revenue was down 15%, a decrease the company attributed to its focus on the higher-margin medical cannabis business.

Net income for the three months ended Dec. 31 was $31.2 million compared to net loss of $17.1 million for the prior-year period, the company said.

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) increased 316% to $23.1 million for the three months ended Dec. 31, compared to the same quarter a year ago.

Aurora expects revenue and other financial trends to continue going up in the next quarter, which began with a new supply agreement. SNDL will supply Aurora with premium cannabis flower grown in Atholville, N.B. in a $27-million, three-year agreement. SNDL already supplies cannabis to Aurora.

“Aurora remains focused on a balanced approach to operating a hybrid manufacturing network of in-house and third-party cultivation,” said Martin.

Aurora’s recreational brands include Drift, San Rafael ’71, Daily Special, Tasty’s, Being and Greybeard. Medical brands include MedReleaf, CanniMed, Aurora and Whistler.