The Canadian cannabis giant Aurora Cannabis has presented its financial results for the fourth fiscal quarter, reporting a net loss of 20.8 million CAD. Compared to the same quarter last year, when a loss of 76.2 million CAD was recorded, there is a significant improvement. However, the company failed to report the corresponding discount per share.

The revenue in the reporting quarter amounted to 67.4 million CAD, which is 5 percent higher than the value of the same period last year. However, the earnings fell short of analysts' estimates of 72.1 million CAD.

CEO Miguel Martin described 2024 as the strongest business year in the company's history. Aurora Cannabis currently has 180 million CAD in cash, providing the company with a solid financial foundation.

For the first quarter of the fiscal year 2025, Aurora Cannabis forecasts an increase in net sales in the mid to high double-digit percentage range. This optimistic forecast reflects the company's expectations to benefit from the growing demand for cannabis products.

Despite the positive outlook, Aurora Cannabis shares responded with a 3.5 percent decline on the NASDAQ, closing at $5.52.

The results show that Aurora Cannabis is on the path to stabilizing its financial situation while simultaneously working to strengthen its market position in the cannabis industry.