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Summary
- Aphria’s net cannabis revenue ballooned by 99 per cent YoY to C$ 67.9 million in Q2 2021, as per the latest quarter reports released on Thursday.
- Gross revenue for the company’s adult-use cannabis products soared by a record 149 per cent year-on-year to C$ 72.1 million in Q2 FY21.
- The pot stock is up by over 44 per cent year-to-date and has climbed by about 100 per cent in the last six months.
Canadian pot producer Aphria Inc (TSX:APHA) is making a lot of buzz on the stock markets after announcing the financial results of its second quarter for fiscal 2021 on Thursday morning, January 14.
Following this news, Aphria stocks jumped about 15 per cent to C$ 14.65 around 8 am EST on Thursday.
Investors were looking forward to Aphria’s latest quarter report ever since the company announced its merger with cannabis producer Tilray Inc (NASDAQ: TLRY, TLRY:US) in December. Let’s find out a little more about Aphria’s Q2 FY21 financial results.
Aphria Inc’s Q2 FY21 Results
Gross revenue for the company’s adult-use cannabis products soared by a record 149 per cent year-over-year (YoY) to C$ 72.1 million in Q2 FY21. Aphria reported that this was its seventh consecutive quarter of revenue growth in this segment.
Aphria’s net cannabis revenue ballooned by 99 per cent YoY to C$ 67.9 million in Q2 2021. Its net revenue, amounting to C$ 160.5 million, climbed 33 per cent YoY and 10 per cent quarter-over-quarter (QoQ).
Its adjusted EBITDA rose 26 per cent QoQ to $12.6 million in the latest quarter, while its free cash flow improved by C$ 70 million.
Aphria reported that during this quarter, it completed its first EU-GMP consignment of dried cannabis and cannabis oil to Germany, and its first shipment of medical marijuana to Canndoc for supply in Israel.
©Kalkine Group 2020
Aphria Inc’s Stock Performance
Ahead of the announcement, Aphria stocks had jumped nearly six per cent on Wednesday, January 13, to close at C$ 12.7. Aphria shares had also hit a 52-week high of C$ 13.04 during trading on Wednesday.
The pot stock is up by over 44 per cent year-to-date and has climbed by about 100 per cent in the last six months.
Aphria shares are currently ranked high on the TSX among stocks with high trading volume as well as top performing health care stocks. The pot company recorded an average trading volume of over 5.3 million in the last 10 days and that of 5.1 million over the past one month.
