Its fourth-quarter revenue of $72.11 million topped consensus estimate by $0.62 million, but revenue fell 4.5% from the past year period. Its medical cannabis revenue jumped 4% from the past year period while consumer cannabis revenue dropped 9% year over year. Moreover, the company expects the declining trend to extend into the next year. It expects first-quarter revenue to stand in the range of $60 to $64 million, down from the previous quarter revenue of $72 million. On the positive side, Aurora Cannabis has been successfully moving its business towards profitability. The company expects to generate positive EBITDA in the second quarter of 2021. Its EBITDA loss stood around $34.6 million in the fourth quarter of 2020 and $50.4 million in the third quarter. It’s selling, general and administrative expenses dropped by $11.2 million to $67 million in the fourth quarter. The company plans to slash its expenses in the following quarters to improve its margins. It has also been aggressively working on lowering the cost of production. Its cash cost to produce per gram of dried cannabis dropped to $0.89 in the fourth quarter, down sharply compared to $1.22 in the previous quarter. Aurora Cannabis stock price is currently trading around $6, slightly above from 52-weeks low of $5 a share. Aurora Cannabis stock has lost almost 87% of value in the last twelve months.
