This Marijuana Stock's Sales Are Soaring -- The Motley Fool
Aurora Cannabis' (NYSE:ACB) acquisition strategy is paying off with eye-popping sales growth and envy-inspiring marijuana production capacity. The company just reported fourth-quarter 2018 financials that included a 223% surge in sales from one year ago, but that might be the tip of the proverbial iceberg once recreational sales begin in Canada next month.
Aurora Cannabis and it's Canadian cannabis peers make most their money selling medical marijuana in Canada. Unlike the U.S., Canada's created a highly regulated nationwide marketplace for medical marijuana and that's allowed demand to grow significantly as the medical market has matured.
Image source: Getty Images.
Growth in licensed medical marijuana patients is only one way, however, that Aurora Cannabis' revenue is climbing. It's also increasing because of its acquisition-oriented business strategy. In the past year, it's bought 11 competitors and peers and its active registered patients (i.e., customers) have increased by 164%.
Thanks to organic growth and acquisitions, Aurora Cannabis' sales surged 223% to $19.1 million in its recently reported fiscal fourth quarter and its sales for the full fiscal year jumped 206% to $55.2 million.
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