Aurora Cannabis Inc (OTCMKTS:ACBFF) has reported impressive results for Q4 and for the fiscal year ending June 30, 2018. Its quarterly revenues have increased to $19,147 in Q4, 2018 (up 223%) when compared to the same quarter of the previous year. The gross margin from the sale of medical cannabis has increased by 74%.
The company has reported an increase of 206% in revenues to reach $55,196 in FY 2018 when compared to $18,067 in FY 2017. The increase is mainly due to the surge in the sale price of dried cannabis.
Highlights of FY 2018
Chief Executive Officer, Terry Booth said Aurora Cannabis has made significant achievements to become a leading player in the cannabis industry worldwide. Aurora Cannabis has successfully completed eleven strategic acquisitions.
The company is well poised to benefit from the adult cannabis use in Canada. The company is scaling up its production capacity to meet the growing demand in 2019. The company has made considerable investments in marketing, sales, capacity, and talent to capitalize on the burgeoning demand and drive long-term growth.
The in-service production capacity is estimated at 45,000 kgs. The company is forecasted to exceed the annual production capacity of 150,000 kg by the end of 2018. Aurora Cannabis is planning to increase the annual production capacity to 500,000 kg.
Aurora Cannabis Inc to File the Form 40-F Registration with US SEC
To list the securities on US stock exchange, Aurora Cannabis will submit a Form 40-F Registration with the Securities and Exchange Commission of the US. The listing is subject to the approval of the exchange and meeting the regulatory and listing requirements. The listing on the senior US stock exchange in October will provide an access to the broader audience. The company is planning to cash in on the investor appetite for the producers of marijuana.
Aurora Cannabis Gets License from Health Canada for Two Production Bays
Aurora Cannabis has obtained licenses for the two production bays from Health Canada. The company is also in the final stages of inspection to get the sales permit for the Aurora Sky. In terms of market cap, the company is the second biggest producer of marijuana.