Will Aurora Cannabis Recover in 2020?
In terms of popularity, few marijuana companies can beat Aurora Cannabis (NYSE: ACB). The Edmonton-based pot grower ranked as the most widely held stock on the trading app Robinhood.
However, Aurora hasn't always delivered financial performances on par with investors' expectations, and the company's first-quarter earnings report, released on Nov. 14, was arguably the very worst of the bunch. Let's see just how bad things went for Aurora during the last quarter, and whether the company can turn things around next year.
It's difficult to find anything to like in Aurora's Q1 earnings report. The company did claim to boast "leading" gross margins, and its medical cannabis revenue increased by a measly 3% quarter over quarter, but the good news probably stops there. Aurora's total net revenue of 75.2 million Canadian dollars ($56.5 million) was a 24% sequential decrease, and its recreational segment was hit particularly hard. Aurora's consumer cannabis revenue decreased 33% sequentially, although to be fair, the average selling price for this segment increased slightly (3%) compared with the previous quarter.
Source Fool.com
