Nearly five years ago, Aurora Cannabis (NASDAQ: ACB) acquired medical marijuana company MedReleaf in an all-stock deal valued at roughly 3.2 billion Canadian dollars ($2.4 billion). Today, Aurora Cannabis is a small fraction of that valuation. At the time, there was a lot of excitement in the emerging Canadian pot market. Now, that hope has turned to despair as companies struggle to both grow and stay out of the red.

Aurora is showing signs of progress, but is it on the right track, and will the business be in a better place a year from now?

On Feb. 9, Aurora Cannabis released its second-quarter results for the period ended Dec. 31, reporting positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of CA$1.4 million. That's an important milestone for the company, which a year ago, reported an adjusted EBITDA loss of CA$7.1 million. Getting to positive adjusted EBITDA was a key goal for the company's management.

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Source Fool.com