Monday, September 24, 2018 8:06:37 PM
https://investor.auroramj.com/#
Q4 2018 Financial and Operational Highlights
In thousands ('000s) unless otherwise noted
Q4 2018
Q3 2018
Change
(%)
Q4 2017
Change
(%)
Financial Results
Revenue
$19,147
$16,100
19%
$5,936
223%
Gross margin on medical cannabis(1)
74%
59%
25%
58%
28%
Earnings (loss)
79,268
(20,795)
nm
($4,816)
nm
Earnings (loss) attributable to common shares
79,870
(19,215)
nm
($4,816)
nm
Operational Results
Cash costs of sales per gram of dried cannabis
sold(2)
$1.87
$1.80
4%
$2.09
(11%)
Cash costs to produce per gram of dried cannabis
sold(2)
$1.70
$1.53
11%
$1.91
(11%)
Active registered patients
43,308
45,776
(5%)
16,400
164%
Average net selling price of dried cannabis(3)
$8.02
$7.30
10%
$6.79
18%
Average net selling price of cannabis oil(3)
$13.52
$12.83
5%
$17.91
(25%)
Kilograms produced
2,212
1,206
83%
1,165
90%
Kilograms sold
1,617
1,353
20%
755
114%
(1)
Represents the gross margin on medical cannabis before fair value adjustments
(2)
Represents the cash cost of sales and cost to produce per gram sold of dried cannabis produced by Aurora
(3)
Represents the average net selling price per gram of dried cannabis equivalent
Q4 2018 Highlights:
Revenue of $19,147, up 223% compared to the same period in 2017.
Pro-forma Q4 2018 revenue of $33,117, including MedReleaf
Gross margin on medical cannabis of 74%, up 28% compared to the fourth quarter of 2017. This increase was primarily due to a higher average selling price per gram of dried cannabis, coupled with a higher proportion of cannabis oil sales in the Company's sales ratio.
Cash cost of sales and cash cost to produce per gram of dried cannabis sold both decreased 11% compared to the same period in 2017. This decrease was primarily due to efficiencies from automation and yield expertise.
Active registered patients of 43,308, up 164% compared to the fourth quarter of 2017.
Kilograms produced and kilograms sold of 2,212 and 1,617, up 90% and 114% respectively compared to the same period in 2017.
7 facilities with production licenses, 5 facilities with sales licenses
In thousands ('000s) unless otherwise noted
FY2018
FY2017
Change (%)
Financial Results
Revenue
$55,196
$18,067
206%
Gross margin on medical cannabis(1)
65%
56%
16%
Earnings (loss)
$69,227
($12,968)
nm
Earnings (loss) attributable to common shares
$71,936
($12,968)
nm
Operational Results
Average net selling price of dried cannabis(2)
$7.65
$6.47
18%
Average net selling price of cannabis oil(2)
$13.68
$17.91
(24%)
Kilograms produced
5,632
3,037
85%
Kilograms sold
5,022
2,382
111%
(1)
Represents the gross margin on medical cannabis before fair value adjustments
(2)
Represents the cash cost of sales and cost to produce per gram sold of dried cannabis produced by Aurora
Fiscal 2018 Highlights:
Revenue of $55,196, up 206% compared to the prior year.
Gross margin on medical cannabis of 65%, up 16% compared to FY 2017. This increase was primarily due to a higher average selling price per gram of dried cannabis, coupled with a higher proportion of cannabis oil sales in the Company's sales ratio.
Kilograms produced and kilograms sold of 5,632 and 5,022, up 85% and 111% respectively compared to FY 2017.
11 strategic acquisitions completed and 1 in progress.
Total headcount grew to 1,400 from approximately 300 at the end of FY 2017.
Pro-forma cannabis inventory and biological assets, including MedReleaf, of $88.8 million.
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