After the bell Aphria released earnings for Q4 and FY2019. The highlights include:
- Net revenue of $128.6 million in the fourth quarter, an increase of 75% from prior quarter and 969% from prior year.
- $99.2 million worth of distribution sales from CC Pharma, a German medical marijuana distributor, and other distribution outfits.
- Revenue for adult-use cannabis of $18.5 million in the fourth quarter, up 158% from prior quarter.
- Settlement of Green Growth Brands takeover bid resulting in $50 million cash received and an additional $39 million to be received in November.
- The company recorded an operating loss for the year of approximately $145M.
- The company had a $50M impairment in Goodwill on their LATAM acquisitions on the year.
From the MDAs:
Over the last six months, our organization identified immediate priorities to help generate substantial progress near-term and long-term. We built upon existing business fundamentals and capabilities, streamlined processes, strengthened governance, and focused on building brand awareness. Together, we have nurtured an entrepreneurial culture of accountability through data-driven decision-making for value creation in the global medical and adult-use cannabis industry. Today’s Aphria has a stronger foundation for long-term growth and success.
Irwin Simon, CEO Aphria
The early reactions from Twitter:
And of course, not all positive with long time FinTwit’s
Jonathan Goldsmith fanboy stating:
More to come later.
Information for this briefing was found via Sedar and Twitter. The author is short Aprhia via Puts and has no affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
