Aphria (APHA) Reports Q1 Revenues of Cdn$145.7M

Aphria (NASDAQ: APHA) reported Q1 revenue for the quarter came in at Cdn$145.7 million, versus Cdn$126.11 million reported last year.

Key Operating Highlights – First Quarter Fiscal 2021

• Record gross revenue for adult-use cannabis of $69.6 million in the first quarter, an increase of 23% from prior quarter and the sixth consecutive quarter of growth.
• Net cannabis revenue of $62.5 million in the first quarter, an increase of 103% from prior year quarter.
• Net revenue of $145.7 million in the first quarter, an increase of 16% from prior year quarter and decrease of 4% from prior quarter, solely due to lower distribution revenue driven by the COVID-19 global health crisis.
• Cash cost to produce dried cannabis per gram of $0.87 in the first quarter, a decrease of 1% from the prior quarter, and decreased for the fourth consecutive quarter.
• Adjusted EBITDA from cannabis business of $10.4 million in the first quarter, an increase of 11% from the prior quarter.
• Adjusted EBITDA of $10.0 million in the first quarter, an increase of 17% from the prior quarter.
• Ended first quarter with a strong balance sheet and liquidity, including $400.0 million of cash and cash equivalents to fund planned Canadian and International growth.
• Aphria transferred its stock exchange listing from the New York Stock Exchange to The Nasdaq Global Select Market ("Nasdaq") on June 8, 2020. This transition did not impact the Company's primary listing on the Toronto Stock Exchange (APHA).
• Filed Prospectus supplement for $100 million (USD) At-the-Market program ("ATM Program") on July 29, 2020 which the Company plans to use for acquisition opportunities.
• Good Supply and P'tite Pof launched large-format SKUs, and launched new brand B!NGO, a large format, economy brand utilizing lower potency cannabis.

"Our strong first quarter results reflect the continued robust growth and development of Aphria's adult-use cannabis brands in Canada," said Irwin D. Simon, Chairman and Chief Executive Officer. "We are consistently taking a diversified approach to our innovation, strategic partnerships, global expansion and corporate citizenship to fuel sustainable, long-term growth. We believe that the strength of our balance sheet and cash position, combined with our consistent focus on our highest-return priorities, will generate sustainable long-term value for all stakeholders."

For earnings history and earnings-related data on Aphria (APHA) click here.

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