ACB - Aurora Reports 20% YoY Uptick In Global Medical Marijuana Expects Benefits From International Cannabis Regulatory Reforms | Benzinga
Aurora Cannabis Inc. (NASDAQ:ACB) (TSX:ACB) announced its financial and operational results Thursday for the fourth quarter and fiscal year 2024.
The Alberta-based cannabis giant noted the year-over-year comparison quarter for the fourth quarter of 2024 ending March 31, 2024, is the third quarter of fiscal 2023 ending March 31, 2023, as the fiscal year 2023 consisted of three quarters.
The company reported a 5% year-over-year increase in revenue to CA$67.4 million ($49.1 million) in the fourth quarter.
Global medical cannabis net revenue grew by 20% over the same period to CA$45.6 million. The increase in net revenue1 of $7.7 million was primarily due to higher sales to Australia and Europe in the current period following the success of newly launched innovative cultivars in these markets.
Marijuana became legal in Germany on April 1st, making it the third country in the European Union to legalize adult-use cannabis after Malta and Luxembourg.
See also: Aurora Cannabis Earns Coveted GMP Certification For Australian Market, Here’s What It Means
“Aurora is the largest global medical cannabis ...