On Monday Aurora Cannabis Inc. (TSX:ACB) confirmed plans to list on a major U.S. exchange such as the Nasdaq or the NYSE while making public their financial and operational results for Q4 and the fiscal year ending June 30, 2018. The company saw revenues of $19.1 million for Q4 and $55.1 million for the year, up 223 percent and 206 percent point-in-time respectively. In fact, despite increased costs from a number of acquisitions throughout the year, Aurora saw gains across the board in gross margins on medical cannabis, kilograms produced and kilograms sold, and total headcount as well.
Effectively, Aurora Cannabis tripled their revenues in Q4. The company brought in a net income of $79.3 million, compared to a net loss of $20.8 million in Q3. According to the numbers, the increase was due to an unrealized non-cash gain on derivatives and marketable securities, although that was offset by a number of things itself including, but not limited to increased finance costs and share-based payments.
"Aurora made substantial progress toward our strategic goal of becoming the global scale and margin leader in the cannabis industry, establishing a vertically integrated company with a broadly diversified product offering with a large global footprint," said Terry Booth, CEO of Aurora in a statement about the results. "Our high-pace, consistent execution has enabled us to complete a number of transformative acquisitions, bringing together industry-leading companies in terms of scale, quality, efficiencies, plant and medical science, product development and innovation, brands, and international distribution."
"With coast-to-coast supply arrangements, and our strategic investment in Alcanna, we are very well positioned to capitalize on the significant adult consumer use opportunity in Canada,” he added.
Plans to list on a U.S. stock exchange
Turning rumor into fact, Aurora made official their intention to list on a major U.S. stock exchange, though the company did not specify between the Nasdaq and the New York Stock Exchange. According to a statement, before going public in the states, the company will file a Form 40-F Registration Statement with the United States Securities and Exchange Commission.
Once Aurora settles all of the necessary regulatory details, the company will make public an official date that they plan to list in the United States.
"Listing our shares on a senior U.S. exchange reflects the level of corporate and business maturity and our high-paced execution. This listing provides access to a broader investor audience who gain the opportunity to participate in our continued success,” said Booth in a statement.
Boastful, with the numbers to back it up
Aurora Cannabis likes to talk, as was seen in last week's leak of their possible deal with Coca-Cola, but as Monday’s report shows, they have the numbers to back it up. While the industry is caught up in the ups and downs of Tilray Inc. (NASDAQ:TLRY) Aurora quietly (or not so quietly) amassed $88.8 million in inventory and biological assets. Compare that to $25.8 million for Aphria Inc. (TSX:APH) or $25.9 million for Canopy Growth, and it’s clear that Aurora Cannabis is more prepared for that start of recreational cannabis sales on October 17 than any other company in Canada to date.
Right now, Aurora has more revenue than just about any other cannabis company on the planet.
"Today, Aurora ticks all the boxes for sustainable success and leadership in the cannabis industry,” concluded Booth. “Aurora is capitalizing on a once in a lifetime opportunity, and establishing new industry standards in terms of execution, science, cultivation, international expansion and product development that position us exceptionally well to do so. We are very proud of our achievements over the past year, and we look forward to fiscal 2019 as we continue to execute."