, the Canadian company defining the future of cannabinoids worldwide, today announced its financial and operational results for the second quarter fiscal 2022 ended December 31, 2021.
During the second quarter, we improved our Adjusted EBITDA by $2.5 million over Q1, moving us closer to our profitability goal.
New international markets are rapidly opening, and with the unique ability to navigate complex regulatory environments, we see a significant revenue opportunity of which we are at the forefront.
Aurora has previously identified cash savings of $60 million to $80 million.
These cash savings will be reflected in our P&L either as they occur for SG&A savings, or as inventory is drawn down for production-related savings.
At December 31, 2021, Aurora had $383.8 million of cash, including $51.3 million in restricted cash, no secured term debt, and access to US$1.0 billion of capital under its shelf prospectus, including the full amount of a US$300 million at-the-market facility.
Miguel Martin, Chief Executive Officer, and Glen Ibbott, Chief Financial Officer, will host the call starting at 5:00 p.m.
Driven by science and innovation, and with a focus on high-quality cannabis products, Aurora’s brands continue to break through as industry leaders in the medical, performance, wellness and adult recreational markets wherever they are launched.
The Company believes that these Non-GAAP Measures are useful indicators of operating performance and are specifically used by management to assess the financial and operational performance of the Company.
Non-GAAP measures should be considered together with other data prepared accordance with IFRS to enable investors to evaluate the Company’s operating results, underlying performance and prospects in a manner similar to Aurora’s management.