Aurora Cannabis Inc. (NASDAQ:ACB) Q4 2022 Results Conference Call September 20, 2022 5:00 PM ET

Company Participants

Ananth Krishnan - IR

Miguel Martin - CEO

Glen Ibbott - CFO

Conference Call Participants

Vivien Azer - Cowen

Michael Lavery - Piper Sandler

Pablo Zuanic - Cantor Fitzgerald

Andrew Carter - Stifel

Andrew Bond - Jefferies

Matt Bottomley - Canaccord Genuity

Frederico Gomes - ATB Capital Markets

John Zamparo - CIBC

Tamy Chen - BMO Capital Markets

Operator

Greetings. Welcome to the Aurora Cannabis Inc. Fourth Quarter 2022 Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this conference is being recorded.

I will now turn the conference over to your host, Ananth Krishnan. You may begin.

Ananth Krishnan

Thank you, operator, and we appreciate you all joining us this afternoon. Today with me are, Miguel Martin, CEO; and Glen Ibbott, CFO.

After the market closed, Aurora issued a news release announcing our fiscal 2022 fourth quarter and full year financial results. This news release, accompanying financial statements and MD&A will be available on our IR website and can also be accessed via SEDAR and EDGAR. In addition, you will find a supplemental information deck on our IR website. Listeners are reminded that certain matters discussed on today’s conference call could constitute forward-looking statements that are subject to risks and uncertainties related to our future financial or business performance. Actual results could differ materially from those anticipated in these forward-looking statements. The risk factors that may affect actual results are detailed in our Annual Information Form and other periodic filings and registration statements. These documents may similarly be accessed via SEDAR and EDGAR.

Following the prepared remarks by Miguel and Glen, we will conduct a question-and-answer session for our covering analysts. We ask that you limit yourself to one question and then get back in the queue please.

With that, I will turn the call over to Miguel. Miguel, please go ahead.

Miguel Martin

Thank you, Ananth.

Before discussing the business more broadly, let me begin with a brief discussion of our latest acquisition, a controlling interest in Bevo, one of the largest suppliers of propagated vegetables and ornamental plants in North America. This transaction first and foremost underscores a disciplined approach to capital allocation; and second, is consistent with both our immediate needs and our vision of becoming a leader in global cannabis. Bevo will be managed by its existing management team who have over 85 years of agricultural experience, and have consistently demonstrated growth in revenue and earnings over the past decade. Collectively, they retain a substantial equity ownership position as they embark on a robust growth plan.