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Cannabis company Aphria reports Q2 loss, revenue up more than 30% from year ago

Last Updated Jan 14, 2021 at 8:04 am EST

LEAMINGTON, Ont. — Cannabis company Aphria Inc. reported a loss of $120.6 million in its latest quarter as its revenue grew by more than 30 per cent compared with a year ago.

The company says the loss amounted to 42 cents per share for the three months ended Nov. 30 compared with a loss of $7.9 million or three cents per share a year earlier.

Net revenue in what was the second quarter of Aphria’s financial year totalled $160.5 million, up from $120.6 million.

On an adjusted basis, Aphria says it earned $3.2 million a penny per share compared with an adjusted loss of $48.8 million or 19 cents per share in the same quarter a year earlier.

Analysts on average had expected an adjusted loss of three cents per share and $154 million in revenue, according to financial data firm Refinitiv.

Aphria announced a plan last month to merge with B.C.-based cannabis company Tilray Inc. in a move that will result in the biggest Canadian cannabis company by revenue.

This report by The Canadian Press was first published Jan. 14, 2021.

Companies in this story: (TSX:APHA)

The Canadian Press

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