Shares of Aurora Cannabis Inc. dropped almost -10% during after-hours trading Wednesday, after the company reported net revenue that fell short of its previously lowered guidance.
The Canadian cannabis company’s fiscal fourth-quarter consolidated net revenue increased +52% from the previous quarter to C$98.9 million – lower than the C$100 million to C$107 million guidance the company had provided offered last month.
Aurora’s adjusted EBITDA loss was -C$11.7 million.
In a separate filing, Aurora said that its net loss attributable to common shareholders was less than -C$200,000, and less than a penny a share, with the rest of the losses attributed to two subsidiaries’ non-controlling interests.
Aurora mentioned that it is working closely with all regulatory and channel partners to streamline distribution, amidst challenges facing the Canadian consumer channel at the retail level in its key markets.