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APHRIA INC (OTCMKTS:APHQF) Update On Financial Performance

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Aphria Inc

For the eighth consecutive quarter, APHRIA INC (OTCMKTS:APHQF) recorded positive EBITDA.  In Q1 2018, the firm announced that EBITDA from operations came at $1.5 million, a jump of 47% over the prior year. The firm remains committed to the proper use of its shareholders’ investment in Aphria.

The details

Aphria continues to pour in more money in its recreational brand. It even persists to proceed diligently on its capital investment strategies and continues to assess other opportunities to enhance shareholder value, while ensuring apt liquidity risk mitigation plans are in place.

Revenue for the quarter closed August 31, 2017 was around $6.1 million, exhibiting a 7% jump over the prior quarter’s revenue of around $5.7 million, in a quarter in which the firm was effectively capacity inhibited as the initial sale from the Part 2 expansion didn’t occur until late in August. Moreover, on a kilogram equivalent and kilogram basis, the firm surged its sales by 15%, to 852 kgs from 738.3 kgs.  Cannabis oil sales, as a fraction of all revenue, remained constant in the first quarter at 32% of revenue.

Aphria reported that gross profit before fair value adjustments for Q1 2018 was around $4.8 million with a gross margin of 78% before fair value adjustments, generated from both wholesale and retail shipments of medical cannabis. The drop in the gross margin recorded before considering fair value adjustments from the previous quarter was a result of replacing sales to veterans, after their three gram per day limit turned effective, with a combination of wholesale sales to Licensed Producers and retail sales to patients.

During the first quarter, the company’s “all-in” costs of dried cannabis a gram dropped to $1.60 from $1.67. The drop was mainly linked to economies of scale recorded as a result of the completion of Aphria’s Part II expansion.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of journaltranscript.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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