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November 9 , 2021 NASDAQ TSX : ACB • • • Aurora Cannabis Announces Fiscal 2022 First Quarter Results Transformation Plan On Track ; Actions Taken - to - Date Have Driven Over $ 33 Million in Annualized Run - Rate Cost Savings Total Cannabis Net Revenue , Net of Provisions , Grew ~ 10 % to $ 60.1 million Compared to $ 54.8 Million in Q4 2021 Adjusted EBITDA Excluding Restructuring Costs Improved by $ 4.0 million to a loss of $ 11.5 million versus Q4 2021 ; Clear Pathway to Adjusted EBITDA Profitability by H1 / FY23 • Improved Adjusted Gross Margin before FVA of 54 % versus 53 % in Q4 2021 EDMONTON , AB - November 9 , 2021 – Aurora Cannabis Inc. ( the “ Company ” or “ Aurora ” ) ( NASDAQ | TSX : ACB ) , the Canadian company defining the future of cannabinoids worldwide , today announced its financial and operational results for the first quarter fiscal 2022 ended September 30 , 2021 . " Our transformation plan is on track . We continue to strengthen and transform our business while benefitting from broad diversification across our international medical , domestic medical , and adult recreational segments . On a run - rate basis to date , we have executed over $ 33 million in annualized cost savings and are positioned to deliver approximately $ 60 to $ 80 million in aggregate across selling , general and administrative ( " SG & A ” ) , production , facility and logistic expenses upon the completion of our business transformation . Our strong Adjusted gross margins and narrowing Adjusted EBITDA loss are also providing us with a clear path to profitability by the first half of fiscal 2023 as we position ourselves for long - term success . Importantly , our robust balance sheet and working capital support our organic growth plans , and provide us with the financial flexibility to evaluate accretive M & A opportunities , ” stated Miguel Martin , Chief Executive Officer of Aurora Cannabis . " During the quarter , total cannabis net revenue increased by approximately 10 % sequentially , driven by our industry leading and high margin global medical cannabis business . Our premiumization strategy also gained traction , as evidenced by 29 % sequential revenue growth in our premium dry flower brands of San Rafael ’71 and Whistler , primarily driven by the launch of three new Coast cultivars , ” he continued . " Our regulatory and compliance expertise in medical is also enabling us to expand into global adult recreational as evidenced by our recent entry into the Dutch recreational market through an investment in Growery B.V. , which based on today's global regulatory framework we expect to become the largest regulated recreational market outside of Canada , ” he concluded . First Quarter 2022 Highlights ( Unless otherwise stated , comparisons are made between fiscal Q1 2022 , Q4 2021 , and Q1 2021 results and are in Canadian dollars ) Medical Cannabis : Medical cannabis net revenue¹ was $ 41.0 million , a 23 % increase from the prior year period . The increase was primarily attributable to continued growth in the international medical business , 84 % growth sequentially and 146 % over the prior year comparative period , as the Company continued to develop new , high margin medical markets such as Israel .