One of Canada’s primary large-cap licensed producers of cannabis, Aurora, has announced that it’s expecting a higher than expected yield of cannabis this year, in a recent unaudited report of its end of year financials.
According to a press release, the company is updating its expected production figures.
Where previous estimates placed the amount of product available for sale to be the high end of 25,000 kg of cannabis, it is now expecting it to be somewhere in the range of 25,000 to 30,000 kg.
The release also contained earning estimates for the coming and most recently passed fiscal quarter.
“Based on a preliminary (unaudited) review, the company anticipates net revenues for the quarter ended June 30, 2019 of between $100 million and $107 million (net of excise taxes), compared to $19.1 million in the period ended June 30, 2018, and compared to $65.1 million for the previous quarter ended March 31, 2019,” Aurora wrote in their release.
The LP also predicts that Q4 of 2019 net cannabis revenue will be between $90 million and $95 million, and has predicted growth across medical, and both Canadian and international, and consumer markets with net revenues somewhere between $249 million – $256 million.
“Our Q4 2019 guidance highlights Aurora’s continued leadership,” said Terry Booth, CEO of Aurora in the release. “We set out to be best-in-class cultivators, and through carefully evaluated acquisitions, that vision continues to drive exceptional results today. We are the leader in cultivation capacity, production available for sale and revenues for cannabis in the Canadian medical and consumer markets.”
Aurora also says it expects to report more quarterly improvements in many of its key performance indicators, including gross margins, kilograms of cannabis sold and cash costs per gram produced.