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Aurora Cannabis Inc. (NASDAQ:ACB) (TSX:ACB) has scheduled a conference call to discuss the results for its first quarter 2025 on Wednesday, August 7, 2024 at 8:00 am ET.
The Canadian medical marijuana giant will report its financial results for the first quarter of 2025 before the opening of markets that same day. CEO Miguel Martin and CFO Simona King will host the conference call and question and answer period.
Aurora made headlines last week as it was granted two licenses by the Federal Institute for Drugs and Medical Devices (BfArM) under Germany's new Medical Cannabis Act (MedCanG). The permits granted the company continued domestic cultivation, which has been underway for two years.
Pablo Zuanic, a seasoned marijuana stock analyst from Zuanic & Associates, recently highlighted the company's need to prove its growth strategies amid an increasingly competitive and uncertain global landscape.
“ACB is among the two largest medical cannabis companies globally and stands to benefit significantly from nascent international markets, which we estimate could see a tenfold increase over the next decade,” Zuanic wrote.
Aurora targets a long-term market share of 10% in the international medical marijuana market, potentially increasing its international medical marijuana sales to roughly CA$700 million ($505.8 million). Current annualized international proforma revenues are CA$100 million.
In its latest earnings report, the company said its global medical cannabis net revenue grew by 20% year-over-year to CA$45.6 million in the fourth quarter of fiscal 2023. The increase in net revenue1 of $7.7 million was primarily due to higher sales to Australia and Europe in the current period following the success of newly launched innovative cultivars in these markets.
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