Aurora Cannabis reports $292M loss in Q2 as restructuring continues

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EDMONTON — Aurora Cannabis Inc. says it incurred a $292.8 million loss in its most recent quarter as the company continued restructuring.

The Edmonton-based cannabis company's second quarter loss was much lower than the $1.3 billion loss it reported in the same quarter a year ago.

Aurora says the loss amounted to $1.74 per share, compared with a loss of $14.16 per share in the previous year.

Analysts on average had expected a loss of 25 cents US per share for the period ended Dec. 31, according to financial data firm Refinitiv.

Aurora says its net revenue reached $67.6 million, up from $55.1 million a year ago.

Aurora spent much of 2020 laying off hundreds of workers and closed some facilities as the company tried to streamline its business.

This report by The Canadian Press was first published Feb. 11, 2021.

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The Canadian Press