Exclusive news and research on the wine, spirits and beer business

Aurora To Mount Push In Premium Products, Edibles

September 29, 2020

Canada-based Aurora Cannabis saw sales decline 5% sequentially to C$72 million ($54m) in the three months through June, marking the fourth quarter of its fiscal year. Adjusted EBITDA showed a loss of C$34.6 million ($26m), an improvement of C$15.8 million ($12m) from the prior quarter. The company said revenue from its consumer cannabis division was affected by a 30% decline in average net selling price per gram, as its Daily Special value flower brand far outperformed its other labels to take a 62% share of its recreational flower revenue for the quarter.

“Aurora has slipped from its top position in Canadian consumer, a market that continues to support material growth and opportunity,” said Miguel Martin, who recently took over as CEO. Martin added that moving forward the company will prioritize its San Rafael, Aurora and Whistler premium brands in flower, pre-rolls and vapor, “which will be shortly followed by strategic marketing and innovation efforts in concentrates and edibles.”—Daniel Marsteller

Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning. You will also receive the Cannabis edition as part of your subscription.

Tagged :

GET YOUR FIRST LOOK AT 2021 DATA AND 2022 PROJECTIONS FOR THE WINE AND SPIRITS INDUSTRIES. ORDER YOUR 2022 IMPACT DATABANK REPORTS. CLICK HERE.

Previous :  Next :