Aurora posted Q3 earnings and the most improved number was net losses, up to $137.4M from last quarter’s $1.3B net loss. (The enormity of that loss was caused by a $762.2M goodwill impairment plus a $210.6M impairment on intangibles and property). Net revenue was $75.5M, up 35% over last quarter, which beat analyst expectations of $66M.
MJ Biz Daily, Global News, BNN Bloomberg
- Interim CEO Michael Singer said, “We’re turning this ship around, and it’s a big ship.” Aurora predicted it would become profitable before the end of the year.
BNN Bloomberg, Yahoo Finance
- REC sales reached $69.6M, up 32% over last quarter, and 2.0 products represented roughly 20% of Aurora’s REC sales.
- The news was positive enough for Aurora shares to surge.
Business Insider, Yahoo Finance
Aurora moved to sell its Exeter, ON greenhouse for half its $17M listing price.
MJ Biz Daily