The Edmonton-based pot producer said it expects net revenues of between $100 million and $107 million for the period ended on June 30, up from $19.1 million in the year-earlier period.
Aurora reported a $158-million loss on net revenue of $65 million in its third quarter ended on March 31.
Toronto-listed shares jumped 10.13 per cent to $9.25 at 9:54 a.m. ET. New York-listed shares climbed 12.44 per cent to $6.95.
“Our Q4 2019 guidance highlights Aurora's continued leadership," said chief executive officer Terry Booth in a news release. "We set out to be best-in-class cultivators, and through carefully evaluated acquisitions, that vision continues to drive exceptional results today.”
For the full fiscal year, Aurora expects net revenue of between $249 million and $256 million.
The company anticipates reporting positive adjusted EBITDA in the coming quarter, along with improvements in gross margins, kilograms of cannabis sold and cash costs per gram produced.
Booth touted Aurora’s leadership in cultivation capacity, production available for sale, and revenues from Canada’s medical and recreational markets.
The company expects fourth-quarter production available for sale will climb to “the upper end of the range” between 25,000 and 30,000 kilograms, ahead of previous guidance of 25,000 kilograms.
The guidance is not fully audited, but the company expects its final numbers will be consistent with the estimates.