Aurora Cannabis Inc (CVE:ACB) Q3 2017 Revenue Records 33.3% Sequential Growth


Aurora Cannabis Inc (CVE:ACB) posted its operational and financial report for the quarter completed March 31, 2017. Revenue came at $5.2 million versus $0.2 million in the equivalent period, a year earlier. This jump in revenue exhibit sequential growth of 33.3% over previous quarter, supported by higher patient additions and related revenue growth. The firm’s current sales jump exceled $2 million per month.

The details

Aurora continues to excel on different aspects of its advancement plan, including the establishment of a superior production facility, national and worldwide expansion, and investments in technology, associations, innovation, sales and commercialization and customer service. The CEO, Terry Booth, expressed that the tabling this spring of legal guidelines to allow adult use of cannabis validates their aggressive growth and expansion program.

The progress of construction initiatives and timelines to complete Aurora Sky center places them remarkably well for the estimated start of adult consumer sales by July 2018. Booth stated that Aurora cannabis offerings continue to excel in the fast budding medical market.

Following a notable patient growth rate for the first year of commercial plan, demand continues to outdo available supply. The management has managed registrations done in Q3 2017 to match production capacity with the mounting demand. It will ensure Aurora protect its role as a prime supplier.

Booth concluded that as the capacity grows and more items becomes steadily accessible, they predict patient acquisition will record its steady growth. They are thrilled to have begun cannabis oil sales following the quarter closed. The company registered a brisk start, and they expect it to be a vital contributor to revenues, permitting them to capture extensive share in this fast growing unit of the cannabis market.

In the previous trading session, the shares price of Aurora declined 0.40% to close at $2.49. The decline came at a share volume of 770,941 compared to average share volume of 3.74 million.