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Today, Aphria Inc. (TSX: APHA) (NASDAQ: APHA) released third quarter financial and operating results for the period that ended on February 28, 2021.
This is expected to be Aphria’s final earnings report as a standalone company and find this to be significant. In the near future, the pending mega-merger with Tilray (TLRY) is expected to be completed which is expected to be a major growth catalyst.
Today, we want to highlight 10 key announcements from Aphria’s earnings report and believe our readers need to be aware of these facts:
- Recorded net revenue came of $154.6 million (CAD)
- Saw a decline in the net cannabis revenue from the same quarter last year
- Despite a decline in total cannabis revenue sales, recreational cannabis sales increased by more than 33% when compared to the same period last year
- Maintained its #1 rank in Ontario and Alberta in terms of sales to the provincial boards, (based on Headset data for the period December 2020 to February 2021)
- Free cash flow improved during the third quarter and this can be attributed to increased cash provided by operating activities
- Management attributed the weakness in sales to COVID lockdown measures
- The company was able to manage expenses and report positive adjusted EBITDA
- Ended the third quarter with $267.1 million of cash that will be used to fund planned Canadian and international growth
- Launched SweetWater Brewing Company beverages in Colorado
- The company completed a USD $120 million financing with BMO
We will be closely following Aphria ahead of its third quarter financial report, please send an email to support@technical420.com with the subject “Aphria’s Quarterly Earnings” to be added to our distribution list.
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