Aurora reports Q2 loss following layoffs, writedown and CEO departure

EDMONTON- Aurora Cannabis says it incurred a loss in its second quarter that was fuelled by a recent $1-billion writedown taken by the company.

The Edmonton-based business says net revenue for the three months ended Dec. 31 was $56 million, up from $54.2 million a year earlier but down from roughly $75 million in the prior quarter ended Sept. 30.

The company’s net income and earnings per share weren’t included in its press release.

Aurora’s earnings report comes a week after chief executive Terry Booth stepped down, the company undertook $1 billion in goodwill writedowns and announced a 500-employee layoff as part of a restructuring of its spending plans.