Aurora Cannabis Bounces Back: Debt Paid, Growth Ahead

Aurora Cannabis Inc. ACB ACB announced on Thursday that it has repaid an aggregate of approximately CA$$7.2 million ($5.3 million), representing the final payment on the principal amount of its convertible senior notes at a total cash cost of CA$7.4 million, including accrued interest.

The Canadian medical marijuana giant said in a press release that following the completion of this repayment, its remaining debt of CA$47.9 million relates to Bevo Farms Ltd.

Miguel Martin, the company's CEO, called the move "a significant milestone for Aurora."

"We have now fully paid off nearly $465 million in convertible debt,” Martin said. “Our focus on balance sheet strength has saved the Company millions in interest and we feel confident that our continued financial discipline will support the achievement of our target of positive free cash flow this calendar year.”

See also: Aurora Cannabis Takes Bold Step Towards Financial Recovery

Record Earnings And International Expansion

In a recent interview on Benzinga’s Cannabis Insider podcast, Martin touted the company's third-quarter financials as record earnings highlighting its fifth quarter being adjusted EBITDA positive.

Under Martin’s leadership, the company has undergone a notable 41% increase in international medical cannabis revenue and a significant reduction in losses from the previous year. This success is attributed to Aurora's strategic positioning in the global market, focusing on medical marijuana with a strong emphasis on quality and patient care.

The recent acquisition of MedReleaf Australia was a strategic expansion into one of the fastest-growing international markets.

On Wednesday, the company revealed that its Aurora Medicine UK Ltd has partnered with Script Assist, a medical cannabis prescription platform in the United Kingdom. Under that deal, Script Assist agreed to make available an extensive range of medical cannabis products from Aurora's leading portfolio of products in the UK.

Senior analyst Pablo Zuanic of Zuanic & Associates has highlighted Aurora, alongside another Canadian cannabis giant Tilray Brands, Inc. TLRY, as companies well-positioned to benefit from the legalization wave in Germany, given their strong export ties to the country.

The Bundestag approved partial cannabis legalization in a final floor vote last week, making Germany the third country in Europe to legalize adult-use marijuana after Malta and Luxembourg.

Now read: Cannabis Stocks Jump As Germany Legalizes Marijuana Possession

ACB Price Action

Aurora's shares traded 1.8567% higher at $3.1983 per share during the pre-market session on Friday morning.

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