Aurora Cannabis forecasts that its recent acquisition of a Canadian cannabis cultivator and its performance in Europe will fuel international growth in the current quarter and beyond.
Aurora on Wednesday affirmed guidance for sequential growth in second-quarter revenue and adjusted earnings before interest, taxes, depreciation and amortization, driven by its shift to focus exclusively on global medical cannabis.
The company, which itself is the target of a hostile takeover bid launched by Curaleaf, said its acquisition of Safari Flower is adding critical European capacity. It said it also has seen continued strong performance in Germany and Poland, which has contributed to profitable international growth expectations, and a U.K. market expansion is under way that is supported by recent acquisitions.
Aurora said it will continue to invest over the next several quarters in its international business to support growth in key markets.
The company earlier this month rejected Curaleaf's $272 million bid, saying it was inadequate.