Aurora records $618.8 million net loss in Q4 as it records impairment charges

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EDMONTON — Aurora Cannabis Inc. says its net loss widened to $618.8 million in its most recent quarter as it recorded $505.1 million in impairment charges.

The Edmonton-based pot company's fourth quarter net loss was even deeper than the $134 million net loss it saw in the same period last year.

Aurora says its net revenue for the quarter ended June 30 amounted to $50.2 million, down eight per cent from $54.8 million in the fourth quarter of 2021.

Consumer cannabis took the biggest hit of all its revenue streams, falling 35 per cent year-over-year.

However, Aurora's medical cannabis net revenue edged up four per cent year over year and the number of kilograms of pot it sold across all categories increased 16 per cent in the same time period.

Aurora's results come as the company has been making major changes throughout the COVID-19 pandemic, including closing several facilities.

This report by The Canadian Press was first published Sept. 20, 2022.

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The Canadian Press