Canopy, Aurora and Tilray report quarterly results | 2020-11-10 | Investing News


Click to enlargeThree of Canada’s biggest licensed cannabis producers (LPs) will report their latest quarterly results on Monday that will give investors the latest scorecard on how the Canadian pot sector is faring.

Canopy Growth Corp. (TSX.WEED) reported its Second Quarter Fiscal 2021 financial results, and Edmonton AB-based Aurora Cannabis (T.ACB) announced their Fiscal First Quarter 2021 Results prior to markets opening on Monday, while Nanaimo, BC-based Tilray Inc. (NASDAQ: TLRY) released its 2020 Q3 Report after the closing bell.

Fiscal Highlights

Canopy:

  • Achieved record quarterly net revenue of $135 million
  • Net Loss of $97 million
  • Adjusted EBITDA loss of $86 million – a 43% improvement versus Q2 FY20.

Aurora:

  • “#1 Canadian Medical Position by Cannabis Net Revenue & Strong International Medical Growth”
  • Cannabis Net Revenue of $67.8 million , Adjusted Gross Margin of 48%, or 52% Excluding Nordic 1 Ramp Up Costs
  • Achieved Targeted SG&A During Q1 2021.

Tilray:

  • Total Revenue of $51.4 Million was Flat Versus Q3 2019 and Up 2.0% Compared to Q2 2020 – Excluding Bulk Sales in the Prior Year Period, Total Revenue Increased 25%
  • Total Annualized Savings of Approximately $55 Million to be Achieved by Q4 2020
  • Net Loss of $(2.3) Million Versus Net Loss of $(36.4) Million in Q3 2019 and $(81.7) Million in Q2 2020
  • Adjusted EBITDA Loss Narrowed to $(1.5) Million Compared to $(12.3) Million in Q2 2020
  • Q3 2020 Ending Cash Balance of $155.2 Million with $209 Million Remaining Available on ATM

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