Aurora Cannabis Inc Q3 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Tamy Chen - BMO Capital Markets Equity Research - Analyst : Miguel, I wanted to ask a bit more on the production pivot and all the changes you've made at Sky. So if we just move aside all the COVID headwinds because I think that's pretty been well highlighted that, that definitely made things very difficult for you guys on the premium pivot strategy. So if we just move that to the side here, could you speak a bit to the consistency now at which Sky can produce that high-quality flower? Because one of the things we keep hearing, COVID headwinds aside, is that in the market right now, there's a lot of the average quality stuff, but there's not enough of the high-quality stuff. And I just would have thought that, that sort of dynamic, once again, COVID aside, would have been that perfect sort of opportunity for your strategy of trying to tackle that apparent white space. So can you talk a bit about the production consistency? Because I'm also just thinking about your ability right to tackle that white space and also the implications on inventory, possible impairment going forward. I know you did the big inventory write-down this quarter, but I really want to understand the level of consistency you can hit at in terms of the higher potency and all the thresholds that are required for premium flower?

Question: John Chu - Desjardins Securities Inc., Research Division - Analyst : So maybe just talking on the Canadian medical and the European market. You're doing really well on both those fronts. But I guess I find those 2 markets, maybe kind of small and just a little bit underwhelming at this point in time. So can you just maybe give us a bit more color in terms of the market size, the market potential, I think the Canadian med market is maybe about 10th of that Canadian rec market, if you can give me some indications otherwise? And then maybe just the outlook for Europe because right now, just the growth we've seen so far has been pretty underwhelming. So maybe just talk about those 2 markets in general.