Aphria on Thursday became one of the rare Canadian cannabis companies to report a net profit by posting record net revenues of 128.6 million Canadian dollars ($97.3 million) in its fiscal fourth quarter, a whopping 969% increase from a year earlier.
Revenues also jumped 75% from the third quarter.
As a result of the company’s performance, its stock price was up about 30% in post-market trading.
- Revenue for adult-use cannabis of CA$18.5 million in the fourth quarter, up 158% from the previous quarter.
- Net income of CA$15.8 million.
The company also reported it ended the quarter with CA$571 million in cash.
It also closed a 5.25% convertible note, raising more than $335 million.
For more detail, visit Aphria’s?earning reports statement.
Read more at MJBizDaily’s?Investor Intelligence.