Saturday, September 13, 2025

Aphria Revenue Declines To $145.7 Million In Q1 2021, Posts Loss Of $2.62 Million

Aphria Inc (TSX: APHA) (NASDAQ: APHA) this morning reported its first quarter 2021 financial results, reporting declining net revenues of $145.7 million and a comprehensive loss of $2.62 million. Revenues declined on a quarterly basis as a result of distribution revenue, which fell from $99.1 million in the fourth quarter to $82.2 million in the first quarter.

While distribution revenue fell, largely a result of seasonality, the firm posted significant growth in net cannabis revenue, which climbed from $53.1 million in the fourth quarter to $62.5 million in the current quarter, an increase of 17.8%. Notably, the company significantly improved the amount of cannabis sold, with 20,882 kilograms sold in the first quarter, compared to 12,557 kilograms in the fourth quarter, a massive increase of 66.0%, a function of new large format offerings.

In terms of gross profits, after production costs of $28.4 million, cost of cannabis purchased of $3.5 million, and cost of goods purchased of $70.4 million, the company managed to post a gross profit before fair value adjustments of $43.3 million. This compares to expenses of $54.5 million.

Expenses largely consisted of general and administrative, at $28.4 million, followed by selling at $7.2 million and marketing and promotion at $6.1 million. The company was then further impacted by finance expenses of $7.2 million, and non-operating income expenses of $17.3 million. Thanks to a large “fair value adjustment” in terms of gross profit, the company was able to eke out a comprehensive loss of only $2.6 million.

Looking to the balance sheet, the firms cash position declined considerably over the quarter, falling from $497.2 million to $400.0 million, while inventory grew from $264.3 million to $321.3 million. Prepaids and other current assets also increased over the quarter, climbing from $43.0 million to $51.3 million. Total current assets overall fell from $903.3 million to $891.5 million.

On the other side of the balance sheet, bank indebtedness rose from $0.5 million to $7.9 million, while accounts payable fell from $152.8 million to $124.4 million. Income taxes payable rose to $21.6 million from $6.4 million, while the current portion of long term debt also rose, from $8.5 million to $10.8 million. Despite the large pay down in debt, current liabilities fell from $170.4 million to $166.0 million.

Aphria Inc last traded at $7.71 on the TSX.


Information for this briefing was found via Sedar and Aphria Inc. The author has no securities or 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.

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