E Aphria Reports Dismal Q3 Financials - Stock Craters

Aphria Inc. (TSX/Nasdaq: APHA) reported its Q3 financial results today for the 3-month period ending February 28, 2021. The only positives were a record 8th consecutive quarter of positive adjusted EBITDA.

Financial Highlights

(All amounts are expressed in Canadian dollars unless otherwise noted and except for per gram, kilogram, kilogram equivalents, and per share amountsGo here to convert into other currencies. All comparisons are to the previous quarter i.e. Q2, 2021.)

  • Adj. Cannabis Gross Profit: declined 34.9% to $20.3M was primarily due to:
    • lower yields that are typically experienced in the Company's third quarter, due to less sunlight in December through February, and the impacts of the product returns and
    • the overall decrease in average selling price based on sales mix.
  • Adj. Cannabis Gross Margin: declined to 39.2% from 45.9%
  • Ave. Price/Gram:
    • Medical: decreased to $6.69 from $6.96
    • Adult-Use: decreased to $3.82 from $4,29
  • Net Total Revenue: declined 4.3% to $153.6M
  • Adj. EBITDA from Cannabis Business: declined 38.7% to $7.9M
  • Net (Loss): increased 199.3% to $(361.0)M
  • Loss/Share: increased 171% to $(1.14) per share
  • Free Cash Flow: improved 76.1% to $(3.9)M

Operational Highlights

  • Reached a definitive agreement to combine with Tilray, Inc. to create the world's largest global cannabis company based on pro forma revenue,
  • Closed a USD $120 million financing with BMO, providing a US$20M revolving facility and US$100M term debt facility;
  • Maintained its #1 licensed producer status in Ontario and Alberta in terms of sales to the provincial boards, based on Headset data for the period Dec. 2020 to Feb, 2021;
  • Improved its market share in Quebec, rising to #2 licensed producer in terms of sales to the provincial board, based on internal analyses;
  • Expanded its premium Broken Coast cannabis offering with introduction of newly developed strain "Pipe Dream;"
  • Launched SweetWater Brewing Company, LLC beverages statewide in Colorado, the first U.S. state to legalize adult-use cannabis; and,
  • Introduced the Solei brand topical, a high potency topical, in the Canadian market
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Roger Keats 4 weeks ago Member's comment

sold shares when I got a 50% profit.considering repurchase later

Adam Reynolds 4 weeks ago Member's comment

50%? Nice! How long did you hold $APHA for before you sold?

Roger Keats 4 weeks ago Member's comment

2yrs