Aurora Cannabis Inc. (NYSE: ACB) announced on November 12th the company’s financial results for the first quarter of 2019. Within the announcement, it was revealed that the company’s revenue growth had increased by 260% to $29.7 million with the proforma revenues up 333% to $35.8 million. The company’s sales stats after Canada legalized recreational adult use cannabis on October 17th of this year placed Aurora among the top performing companies in the first two weeks of recreational sales in October.
In Ontario, and through the Ontario Cannabis Store website, Aurora Cannabis products totaled to an estimated 30% of the total products sold. The company supplied two of the three variants of San Rafael that was the most popular brand that sold during the first two week period of time. Through the British Columbia’s government website, also for online sales of recreational cannabis, Aurora Cannabis was the 4th most popular brand of dried flower product and had multiple best sellers in the top 5 and top 8 oil and capsule products.
The Chief Executive Officer of Aurora Cannabis, Terry Booth, stated, “The commencement of adult consumer use sales in Canada has been very successful for Aurora, with strong performance across all product categories and brands. Our Initial roll-out success demonstrates how our high-quality Aurora Standard products and well-positioned brands have resonated strongly with the consumer market and our preparedness for the logistical challenges in effectively our products to the market. Given the Strong unmet consumer demand across Canada, we are confident that our rapidly increasing production capacity will result in a continued acceleration of revenue growth.”