![]() The company earns a significant portion of distribution revenue from its German subsidiary CC Pharma. So, while the Canadian cannabis industry is struggling, Tilray continues to grow through its European operations, with cultivation and distribution in Portugal and Germany. However, Aphria had strengthened its position in the European market, which Tilray took advantage of. Tilray has benefited from the merger in a variety of ways, but it was also affected by the external headwinds that have engulfed Canadian cannabis companies (excess supply, fierce competition, regulatory delays, and rising black market sales). In 2021, Aphria and Tilray, two Canadian cannabis companies, merged to form Tilray Brands in an all-stock deal worth $3.9 billion. Aurora merger details and IPO price When Aurora and its SPAC first announced the proposed deal in July, they divulged a projected combined business entity worth 2.5 billion. Tilray's European expansion could be worthwhile Aurora management would have to prove it can reduce cash burn while boosting the top line organically to last in the long run. ![]() The company does not have a deep-pocketed partner like its peers to help with its expansion if and when cannabis is federally legalized in the U.S. Furthermore, Aurora has raised the majority of its funds by reissuing shares, which does not sit well with investors. It spent CA$60.6 million in cash on operating activities in the quarter, compared to CA$31 million in the first quarter, implying that it is burning more cash than it is making.Īlthough it appears to have a strong balance sheet with CA$310 million in cash, the company is still losing money. Second, it still had a net loss of CA$67 million in the second quarter. To begin with, EBITDA is not a true measure of profit. It is a significant improvement over the year-ago quarter's adjusted EBITDA loss of CA$7.1 million.īut there's more to the picture than meets the eye. It finally achieved its long-awaited goal of positive adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA), which came in at 1.4 million Canadian dollars ($1.03 million) in the second quarter of fiscal 2023. However, its most recent quarterly results gave reason to believe that the company is on the mend. But after its balance sheet was burdened by some of its reckless decisions, like an acquisition spree, the stock has dropped by 99% in the last five years. (AURCU) NasdaqCM - NasdaqCM Real Time Price. Aurora Cannabis reported its first positive EBITDA quarterĪurora Cannabis has been investors' favorite among pot stocks for a while. (AURCU) Stock Price, News, Quote & History - Yahoo Finance Aurora Acquisition Corp.
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