Shares of Aurora Cannabis Inc. (ACB) - Get Report fell in after-hours trading Wednesday after the Canadian cannabis supplier reported net revenue that failed to meet its previously lowered guidance and offered no per-share figures for its results.
Aurora shares fell 61 cents, or 9.4% to $5.88 in after-hours trading. The stock had gained 3% in the regular session.
Aurora said in a release that its fiscal fourth-quarter consolidated net revenue increased 52% from the previous quarter to C$98.9 million. That was shy of the C$100 million to C$107 million guidance the company offered just last month.
The company said its adjusted EBITDA loss was C$11.7 million vs. C$36.6 million in the prior quarter.
In the statement, the company said "the Canadian consumer channel continues to experience challenges at the retail level in key markets and resolution of this issue is beyond the Company's control. Aurora is working closely with all our regulatory and channel partners to streamline distribution as the Company continues to track toward positive adjusted EBITDA on a consolidated basis."
Elsewhere, cannabis stocks were mixed in Wednesday's regular session
The Alternative Harvest ETF (MJ) - Get Report rose 22 cents, or 0.86%, to $25.71. The AdvisorShares Pure Cannabis ETF (YOLO) - Get Report rose 14.49 cents, or 0.77%, to $18.92. The Horizons Marijuana Life Sciences ETF (HMLSF) fell 0.79 cents, or 0.07%, to $11.39.
Large cap stocks with notable cannabis initiatives were mixed. AbbVie shares (ABBV) - Get Report rose $1.31, or 1.92%, to $69.49.The company makes Marinol, a drug based on a synthetic form of THC that is used to treat nausea from chemotherapy among other conditions.