For several leading Canadian marijuana growers, this was a big week. Four of the biggest players in the Canadian cannabis industry reported their quarterly results: Aurora Cannabis(NYSE:ACB), Canopy Growth (NYSE:CGC), Cronos Group (NASDAQ:CRON), and Tilray(NASDAQ:TLRY).
Although quarterly updates are often referred to as earnings releases, the reality is that a lot more than just earnings (or lack thereof) are reported. These companies provided a wide range of financial and operational information related to the most recent quarter.
So which marijuana stock won the latest earnings week? Here’s how they stacked up against each other in key areas…
Revenue
| Company | Last-Quarter Revenue | Prior-Year Period Revenue | Year-Over-Year Change |
|---|---|---|---|
| Aurora Cannabis | CA$29.7 million | CA$8.2 million | 260% |
| Canopy Growth | CA$23.3 million | CA$17.6 million | 33% |
| Cronos Group | CA$3.8 million | CA$1.3 million | 186% |
| Tilray | US$10 million | US$$5.4 million | 86% |
DATA SOURCES: COMPANY PRESS RELEASES AND FINANCIAL STATEMENTS. CA = CANADIAN DOLLARS. US = U.S. DOLLARS.
Aurora Cannabis posted the strongest year-over-year revenue growth by far. However, it’s important to note that the company’s big revenue jump came primarily from its acquisitions. The prior-year period revenue total didn’t include contributions from MedReleaf, Anandia, and Agropro.
Cronos Group achieved the highest organic revenue growth of the group. Canopy Growth disappointed investors with revenue in the latest quarter that was actually less than the previous sequential quarter and reflected relatively sluggish year-over-year growth.
Earnings
| Company | Last-Quarter Earnings (Loss) | Prior-Year Period Earnings (Loss) | Year-Over-Year Change |
|---|---|---|---|
| Aurora Cannabis | CA$105.5 million | CA$3.6 million | 2,862% |
| Canopy Growth | (CA$330.6 million) | (CA$1.6 million) | N/A |
| Cronos Group | (CA$7.3 million) | CA$1.1 million | N/A |
| Tilray | (US$18.2 million) | (US$1.8 million) | N/A |
DATA SOURCES: COMPANY PRESS RELEASES AND FINANCIAL STATEMENTS. N/A = NOT APPLICABLE. CA = CANADIAN DOLLARS. US = U.S. DOLLARS.
It seems evident which marijuana stock enjoyed the best bottom-line performance in the latest quarter — at least at first glance. Aurora Cannabis racked up a massive profit. However, as my Motley Fool colleague Sean Williams pointed out, this profit wasn’t all it appeared to be.
Aurora’s unrealized gain on derivatives and its one-time realized gain from its investment in The Green Organic Dutchman were…
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